timewise

business bank account

Why It’s a Good Idea to Have a Separate Business Bank Account

Technically, if you are self-employed, you do not need to open a separate business bank account. Mind you, having said that, having a dedicated business account is advantageous; we’ll look why in a moment. If your business is a limited company, then the simple answer is that you need a separate business account. That’s because …

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e-commerce VAT changes

Are You Ready for the E-commerce VAT Changes?

E-commerce businesses have experienced a boom of late. The lockdowns we’ve all endured appear to have sent us lunging for our laptops. In fact, four in ten Brits have done more online shopping since the pandemic than before. That’s great news if you run an e-commerce business. But before you get the champagne out and …

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financial statements

Bookkeeping Basics – everything you need to know about financial statements

The first thing we want to clarify is that financial statements are not the same as bank statements. For starters, a financial statement gives you a clearer overview of how your business is looking. Your bank statement just gives you a list of transactions and, therefore, skirts over the underlying financial position your business is …

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budget 2021 corporation tax

SMEs, Not Big Businesses Will Feel the Corporation Tax Pinch

The recent budget slapped businesses in the face. Not only are many still reeling from the impact of Covid (and will for many years to come), now they’re faced with the first rise in corporation tax in 47 years. But it’s OK. All the media’s headlines reassure us that the increase will only affect big …

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Embrace Virtual Meetings

Why You Should Embrace Virtual Meetings

Virtual meetings may have been forced upon you by COVID, but that shouldn’t be viewed negatively. If anything, you should be embracing video meetings. For some, the thought of attending virtual meetings on Zoom, Teams or Skype meeting (other platforms are available) is akin to tooth extraction. However, they are a far better alternative to …

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