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The 7 key numbers every business should know and measure

By condensing the many complicated numbers behind a business into seven simple, key numbers, we aim is to make business simple for small business owners so that they can understand their numbers and learn how to make those financial numbers better. The first number is revenue growth.  By comparing revenue/turnover/sales this year with that achieved in the previous year we are measuring the level of growth that we want to achieve.  Most  businesses do want to grow, so we’re measu...

Claiming the marriage tax allowance

WHAT IS THE MARRIAGE TAX ALLOWANCE AND CAN I CLAIM IT? A tax break this often overlooked (estimates put the number of missed claims at more than 2 million) is the marriage tax allowance.  This tax allowance was introduced from 6 April 2015 and is for couples who are married or in a civil partnership and where one of the couple does not pay tax (has income below the personal tax free allowance which in 2019/20 is £12,500) and your wife/husband/civil partner is a basic rate (20%) tax payer ...

What tax relief can I get for a Christmas Party?

Can the taxman/lady really be like Father Christmas and not the Grinch?The good news is that yes the taxman/lady can be like Father Christmas in respect of your Christmas Party expense and below I explain how.  In straightforward and importantly non-accounting terms this is because you can potentially get tax relief for the cost of the party, a refund of any input VAT incurred on this event and thankfully this Christmas party expenditure is not treated as a taxable benefit for you or your e...

Should I be limited company or self-employed?

Although there are several different types of business set up structures, the two main types that the majority of people will consider are: Limited CompanySelf-employed as a sole trader (or partnership if more than one person) Choosing which of the above structures to apply has to be one of the most frequently asked questions but unfortunately with the Government’s 2016 decision to reduce the level of tax advantage associated with the limited company route, there is now no simple right or wron...

How to avoid the number 1 reason that businesses fail

I know we should avoid using clichés but cash really is king and from the number of clients that I have met over the last 30 plus years I would even add that it is king, queen, prince and princess with far too many business owners suffering sleepless nights and anxious evenings and weekends worrying about how to pay their bills and quarterly VAT bills for example. I would not be surprised therefore that most business owners would correctly guess that running out of cash is the number one r...

What is the “Be better” process and how does it help your business?

Let’s be honest with each other… Accounting isn’t rocket science. With the advent of technology like Xero and Quickbooks, the ability to fetch your business’ numbers has become so much more streamlined, and once you have the right systems in place, you have everything you need for us to work together to help you run your business with a lot less financial worry and sleepless nights. That’s why we created the Be BetterTM process to help you guide and give you the framework needed t...

Introducing Afresh Accountants - Our brand and how it came to be

It’s been a long journey, but we’re excited to share with you the launch of our new brand. With our new brand now launched, we we wanted to tell you more how it came to be, but also about our founder, Mark Tickel, and how he came to be the face of Afresh Accountants. The story behind “Afresh” In setting up the brand, we wanted to come up with a name that represented our location, but also combined that sense of starting anew with an accountant who helps remove worry and provides that he...