With the tax rules and regulations changing on a regular basis, it may be advisable to seek advice from an accountant to check you are paying the correct amount of tax; as either an individual or as a company. This can avoid any potential nasty...

Starting a new business can be a very stressful time, but it is important to make sure you have measures in place to ensure you do not trip at the first hurdle. Businesses are most vulnerable to failure during the early years of trading, with...

Here at Abacus, we pride ourselves in keeping in contact with our current clients, but also in developing relationships with new potential clients. Networking events are a great way to meet new people face to face and, over time, these contacts may just become key...

Being Self Employed So you’re thinking about becoming self-employed? Well, first things first you need to contact HMRC. You should tell them that you want to register as self-employed and also the date you started your business. You then need to start paying Class 2 National...

What causes businesses to go bust? Businesses run into problems for all sorts of reason but most of them are avoidable. Here are some of the most common problems we come across. Failure to understand your market and customers Think about who your customers are and consider the...

Some business owners don’t consider business insurance as being essential and feel it’s an expense they would just rather avoid. However, even with the financial considerations, this should definitely be a incorporated into your budget. Accidents unfortunately do happen, no matter how hard we try...

When starting your business, you are always going to invest a lot of time, money and effort into getting your business off the ground and up and running. However, there comes a time when you realise there are more doors to open and roads to...

Generally a “Limited” company will end up paying less tax than a Self Employed person – depending on how much is earned and the nature of the business expenses. A very rough guide is around 3K+ of tax saved for someone on 50K per year. Accounting...

Cloud-based systems are slowly but surely becoming the preferred method of choice in many areas of business. There is an array of advantages around using cloud-based systems; here we explore some of these so that you are prepared for your next step into ‘The Cloud’… Cost...