When you run a company in the creative industry, your profit depends entirely on the small decisions you make each day. Highly profitable companies always know their numbers and use the insight to make the right choices when it comes to things like pricing, project management and cash flow.
In a previous blog we had highlighted some points made from the Budget 2015. Below are a selection of extra points that followed.
Have you used your 2014/15 annual exemption of £11,000? Consider selling shares where the gain is less than £11,000 before 6 April 2015. Also, if you have any worthless shares consider a negligible value claim to establish a capital loss. You may even be able to set off the capital loss against your income under certain circumstances.
HM Revenue and Customs (HMRC) have a new campaign. The disclosure campaign is aimed at traders who accept payments by debit and credit cards but who haven’t declared all transactions. The Credit Card Sales campaign provides an opportunity for individuals and companies accepting debit and credit cards (but have not reflected all transactions in their tax return) to bring their affairs up to date in a simple, straightforward way and take advantage of the best possible terms.
Small business owners can now grow their business and revenue even faster with Quotes in the latest version of Xero. Xero now puts SMBs completely in control of their sales workflow and allows them to easily collaborate with their advisors to scale their business without ever having to leave their accounting platform or pay for costly add-ons.