How to Prepare for Potential Adverse Tax Changes in the Upcoming Budget Announcement
🌐 How to Prepare for Potential Adverse Tax Changes in the Upcoming Budget Announcement With a major government budget announcement on the horizon, uncertainty around potential tax policy changes is inevitable. For both businesses and individual taxpayers, anticipating and preparing for these changes can make a significant impact. At Bowdon Accounting Services, we’ve compiled key […]
Revitalising Financial Management: How Bowdon Accounting Services Provided Strategic Finance Support to a Small Business
Recently, we partnered with a small, family-owned limited company that was facing significant financial challenges. The Challenge: This company, known for its innovative products and exceptional customer service, was struggling with its financial management. Rapid growth had brought unexpected complexity to their operations, and their internal accounting systems were no longer sufficient. Cash flow was […]
Understanding the True Cost of Hiring Staff
Hiring new staff is a significant investment for any business. But have you considered all the associated costs beyond just salaries? Here’s what every business owner needs to be aware of: 1) On-Costs: National Insurance contributions, pension schemes, and other statutory costs can add up quickly. Make sure to budget for these mandatory expenses. 2) […]
Understanding Business Expenses for Tax Purposes
Understanding business expenses for tax purposes can be complex. Here’s a guide to help you navigate: What are Business Expenses? Business expenses are costs incurred wholly and exclusively for running your business. Deducting these expenses from your income can reduce your taxable profits, thus lowering your tax liability. Seeking expert tax advice and strategic finance […]
Why Do Small Businesses Go Bust in the UK? The #1 Reason Unveiled!
Despite the relentless efforts of dedicated entrepreneurs, numerous small businesses in the UK encounter financial challenges. 📉 The primary culprit? Cash Flow Issues. Research indicates that an astounding 82% of small businesses fail due to inadequate cash flow management. Critical statistics include: 🚫 43% of businesses suffer from late payments, which significantly disrupts their cash […]
Understanding the Different Types of Charities in the UK
Understanding the various types of charitable organisations in the UK can be complex. This guide will help you navigate through different types of charities, focusing on charity finance management, the role of a charity accountant, and strategic finance support: 1) Charitable Incorporated Organisation (CIO)a) Provides limited liability for trustees, can own property, and enter into […]
Equity: Understanding the Different Types of Equity on Your Balance Sheet
What is Equity? Equity represents the residual interest in the assets of your business after deducting liabilities. Essentially, it shows what the owners own outright, making it a critical metric for both chartered accountants and those offering strategic finance support. Types of Equity on a Balance Sheet (According to UK GAAP): Why Understanding Equity is […]
Understanding the Balance Sheet: A Key to Financial Clarity
As a business owner or manager, understanding your company’s balance sheet is essential for making informed financial decisions. But what exactly is a balance sheet, and why is it so important? What is a Balance Sheet? A balance sheet is a financial statement that provides a snapshot of your company’s financial health at a specific […]
Understanding Gift Aid: A Win-Win for Employers and Charities
Services, we are passionate about helping businesses make the most of their charitable contributions. One way to do this is through Gift Aid—a UK government scheme that boosts the value of donations to charities by allowing them to reclaim tax on donations made by taxpayers. What is Gift Aid? Gift Aid enables charities to claim […]
Understanding Risk Management: A Vital Tool for Your Business
In the fast-paced world of business, uncertainties are inevitable. At Bowdon Accounting Services, we believe that effective risk management is not just about mitigating threats, but also about leveraging opportunities. Our focus on strategic finance support ensures you’re prepared for any eventuality. Why Risk Management? Risk management involves identifying, assessing, and prioritizing risks followed by […]
