Whether you’re an experienced business owner or are just starting, opening a business bank account can be incredibly beneficial. Keeping your personal and business finances separate will make managing your tax liabilities much easier and will help you keep track of comings and goings. However, starting a business can be a busy time, and the… Continue reading The 9 Best Business Bank Accounts in the UK
Category: Finance and Tax
Building a Business Budget That Works for You: A Guide for UK-Based Entrepreneurs
There’s nothing quite like the feeling of starting and running your own business. The thrill of making your first sale or opening the doors of your store for the first time is unparalleled. Throughout your entrepreneurial journey, you’ll have countless exciting experiences. Creating a small business budget is unlikely to be one of the most… Continue reading Building a Business Budget That Works for You: A Guide for UK-Based Entrepreneurs
Navigating UK Business Tax: What You Need to Know as a Small Business Owner
If you have recently registered a small business in the United Kingdom, it is crucial to have a solid understanding of the country’s business tax system. Knowledge of these tax obligations is essential for compliance and financial planning. It can seem daunting, but learning about tax doesn’t have to tax your brain. Here we will… Continue reading Navigating UK Business Tax: What You Need to Know as a Small Business Owner
Company Accounting 101: A Quick Guide to Business Finances
If you own a business or are just starting one, knowing some accounting basics is crucial. You don’t need to know the nitty-gritty details of everything related to business accounting, but you do need to have some basic knowledge on the subject. This process can seem daunting, but accounting is simply a part of your… Continue reading Company Accounting 101: A Quick Guide to Business Finances
How Does VAT Work? A Simple Explanation for Entrepreneurs
Many financial phrases might seem a little alien to business newcomers. From dividends to Corporation tax, there are many different terms you’ll have to become familiar with when you first register a company and set up your business. Amongst a myriad of perplexing terms, you’ll find one that sounds very familiar: VAT. VAT is not… Continue reading How Does VAT Work? A Simple Explanation for Entrepreneurs
When Is the UK Tax Self-assessment Deadline?
If you’ve just become self-employed, you may know that you need to complete a self-assessment tax return. But if you’re just starting out, your tax return can be pretty daunting and stressful if you’re not entirely sure what you’re doing. Every tax year, businesses, sole traders and owners of rental properties have to file a… Continue reading When Is the UK Tax Self-assessment Deadline?
A Company’s Unique Taxpayer Reference (UTR): What It Is and How to Get One
When you’re starting a new company, it can get a bit overwhelming with the long list of things that you need to do; sorting your finances and funding, getting your website up and running, working out a business plan, and that’s just to name a few. And that’s all before you start your company formation… Continue reading A Company’s Unique Taxpayer Reference (UTR): What It Is and How to Get One
Explained: How Do I Get a UTR Number?
What Is a UTR Number? UTR stands for Unique Tax Reference, a 10 digit code assigned to you and you alone. Your UTR exists entirely for tax management. It cannot be used as any other form of identification. Do You Need a UTR Number? Yes, you do need a UTR number. Every single piece of… Continue reading Explained: How Do I Get a UTR Number?
How to get your companies Unique Tax Reference
How to get your companies unique tax reference? Unique Tax Reference sometimes referred as Corporation Tax Reference is a 10-digit number either for you or for your company. Once your company is formed, Companies house notifies HMRC (Her Majesty’s Revenue and Customs) about your newly registered company. HMRC, in turn will register all the information… Continue reading How to get your companies Unique Tax Reference