There are many advantages to being a small business owner but it also has its challenges. Small businesses are heavily reliant on cash flow to stay afloat, especially when they are just starting out. A small business can’t afford to have bad debt and ineffective payment collection has been the downfall of many a small business owner.
As your business starts to expand it is worth looking into outsourcing jobs and roles which take up a lot of time, so that you are free to focus on the important day-to-day running of your company. One of the first companies a business might look into engaging is a qualified accountant, this article delved into how an accountant could help your business.
Accelerated Payment Notices were introduced in the Finance Act of 2014. These notices are issued by HMRC to taxpayers, demanding the immediate payment of tax and national insurance contributions that it believes are owed due to tax avoidance. This article looks at what happens when you get a APN, how it works and what your next steps are.
There are a few standard things businesses can do to try to get paid promptly on completion of a job, including invoicing in advance, asking for a deposit to be paid upfront and invoicing immediately on completion of a job. This article explores how to complain to the Small Business commissioner and what will happen next.