5 common payroll mistakes

Payroll

Paying your employees promptly and accurately is essential to any business with people on its payroll, after all a happy team equals a happy business. As an employer, the process of operating Pay As You Earn (PAYE) as part of your payroll will be familiar but entwined with ever-changing employment legislation and penalties for non-compliance, […]

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Invoicing matters: 5 tips for effective invoicing for your business

invoicing matters

It’s the bottom line of your business – getting paid for the goods or services you have provided. Your invoicing processes play a vital role in your cash flow, you need to be paid by your customers to keep things running smoothly and revenue flowing into your business bank account. And yet, according to Xero, […]

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How to use your accounts to plan for the new financial year

set budgets and business plan

As April brings a new fiscal year, making a resolution to reflect on your accounts can save your business money and enable efficiencies for the new tax year. Rather than filing away last year’s accounts, the figures that they hold can provide an invaluable insight for your future budgeting and business planning. Delve into the […]

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Seven savvy ways to withdraw money from your business

ways to withdraw money

Being a limited company means that your business assets belong to the company and any money going in and out of your business must be accounted for. There are several ways in which you can withdraw money (Salary, Dividends, Director’s Loans, and Expenses) but by being savvy with your spending and planning wisely there are […]

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10 Money-saving tips for business owners in 2022

Money-saving tips

The financial news feels pretty bleak right now. Rising energy prices, increasing fuel prices, inflation, tax rises, increased salary demands by teams facing pressure on their finances – the list goes on. All of which means you need to make some tough decisions about business spending.  This article looks at 10 money-saving tips to help […]

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Tax efficient gifting this Christmas

hands holding Christmas gift

Tis the season To plan carefully for gifts and bonuses Running a business is hard work. Whether you’re running a limited company, LLP, are a sole trader or a partnership you will be familiar with the non stop demand to keep your clients happy. To deliver goods or services in such a way that you […]

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What are Research & Development tax credits and can you claim them?

Research & Development

The government’s Research & Development Tax Credit incentive is designed to encourage innovation in UK businesses. Perhaps you’ve never heard of them before. Or maybe you have heard of Research & Development (R&D) tax credits but not really understood what they are or if they apply to your business.  In this article, Chorus Accounting MD […]

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Covid-19

We thought, amongst all the other emails you are getting, we would let you know that as your accountants, we have thought about the challenges that lay ahead and maybe offer some words of reassurance in what can seem to be an increasingly scary time. The main message that we want to say is that […]

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