Running payroll in-house can be a bit of a minefield for businesses, especially for those who don’t have dedicated financial staff or expert accountants on hand. Payroll is one of the most crucial parts of managing a business, as it directly impacts employee satisfaction and business compliance. But, as straightforward as it may seem, payroll
What is your background? How did you get into Accountancy? My first step into accountancy was actually a bit of a happy accident! When I was a teenager, I had a job as a receptionist, and the accounts team would sometimes ask if I could help them out with bits of their work. That was
Corporation Tax is the tax that companies pay on their profits. It used to be straightforward, with all businesses in the UK paying a flat rate of 19%, but recent changes mean different rates now apply depending on how much profit your company makes. Here’s a breakdown of the current rates, how they work, and
If you’ve received or are expecting a bonus from your employer, you might be wondering how much of that extra cash you’ll actually take home. While bonuses can be a great way to boost your earnings, many people are surprised to learn how much is deducted for tax. In this blog, we’ll break down everything
Managing your business finances can be challenging, especially when it comes to keeping track of multiple deadlines throughout the year. Missing important dates can lead to penalties and added stress. Here are some practical tips to help you stay organised and ensure timely compliance with all key accounting deadlines. Create a Comprehensive Calendar Set up
Being a director of a company is both rewarding and demanding. Whether you’re joining the board of an established firm or starting a new business, the role comes with significant duties and responsibilities. Here’s a straightforward guide to what’s expected from you as a director. Types of Business Entities In the UK, businesses can operate
Robin’s Nest is a Chichester-based independent specialty coffee shop dedicated to providing exceptional coffee, homemade cakes, and a welcoming atmosphere. In this Client Feature, we speak to founder Rose Bewick about her journey in the coffee industry, the inspiration behind Robin’s Nest, and her vision for creating a community-focused haven in the heart of Chichester.
Running a successful business can be challenging, with half of all small businesses failing within the first three years. However, understanding common pitfalls and knowing how to navigate them can significantly boost your small business’s chances of success. Here’s a straightforward guide to help your business thrive. 1. Know Your Competitors One major reason small
We are thrilled to announce that Blue Spire has won the Professional Service Award at the prestigious Chichester and Bognor Business Awards presented by Chichester Chamber. This honour recognises our unwavering commitment to delivering exceptional services and expert knowledge to our clients. Winning this award is a testament to the dedication and hard work of
Last week, a few members of the Blue Spire team had the fantastic opportunity to attend XeroCon 2024. It was an inspiring experience, and we are thrilled to share some of the most exciting developments from the event. Among the numerous innovations presented, one that stood out to us is the upcoming release of JAX
The Construction Industry Scheme (CIS) sets out special rules for tax and National Insurance (NI) for those working in the construction industry. Businesses in this sector are categorised as ‘contractors’ and ‘subcontractors’ and can be companies, partnerships, or self-employed individuals. HMRC introduced the Construction Industry Scheme (CIS) in 1971, to ensure subcontractors in the construction
Deciding to start your own business is an exciting step forward, but it comes with a number of critical decisions, one of which is choosing the most suitable legal and taxation Business Structure for your new enterprise. The Business Structure you select is a crucial decision that will impact how you are taxed, your legal
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