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Category Archives for "Finance"General Financial Information
Crowdfunding – The Basics
What is Crowdfunding and what can it be used for? Crowdfunding is a way to raise money for a project, either business or personal, by inviting a large number of investors to support it rather than borrowing money from a more traditional lender which can be both more expensive and more restrictive. Crowdfunding can be […]
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What are Capital Allowances?
Capital Allowances are much misunderstood and consequently often left unclaimed, especially by small businesses. What is a Capital Allowance? The capital allowance is an allowance against tax payable for any assets you buy to enable you to run your business. For example, if you’ve bought a new machine to help your manufacturing process, you can […]
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What Is Equity in Your Accounts and Why Is It Important?
Equity, in a nutshell, is the value of anything you – or your business – own after the amount of anything you owe is subtracted from it. So for example, if you have a vehicle worth £10,000 on which you still owe £4,000, the equity in that vehicle is £6,000. Equity in your business is […]
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Cash Flow – Why Is It So Important?
Cash Flow is the money that flows in and out of your business, more cash coming in than going out is positive, having more money going out than coming in is negative. Depending on the type of business you run your cash flow can go from one to the other, especially if you have a […]
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2021 Budget – Key Provisions
The 2021 Budget, more than any other of recent times, is key to the recovery of the UK economy which has been hard hit by the effects of the Coronavirus pandemic. The support offered by Government is to be extended but provisions are already being put in place to pay for that support. General Provisions […]
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Minimum Pension Contributions Increase – Your Questions Answered
The minimum pension contributions for automatic enrolment pension schemes are due to increase at set times this year and next. All employers are required to make the minimum employer contributions to the workplace pension scheme for all qualifying staff. It is your responsibility as an employer to make sure that the correct increases are put […]
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Payment Surcharges – The New Regulations
Payment surcharges are often used by SME’s to offset the costs of payment processing. New amendments to the regulations come into effect on 13 January 2018. There are severe penalties for non-compliance in addition to any civil action that may be taken by the Consumer. Your Bookkeeper should be aware of the new regulations and […]
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The Budget Provisions 2017
Farries Bookkeeping Services like to make sure our clients are well informed on the latest legislation so we have summarised the principal provisions of the 2017 Budget for you The VAT Threshold which will remain frozen at £85,000 for the next two years Business Rates will be indexed to Consumer Price Index from 2018 The […]
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