Financial Due Diligence Explained, The Documents Buyers Expect and Sellers Need to Prepare
When buyers and sellers hear the phrase Financial Due Diligence, the first reaction is often that it sounds heavy, invasive or overcomplicated. In reality, FDD is simply about proving that the business being bought or sold is what everyone thinks it is. The quickest way to make the process smooth is to understand exactly what […]
How to Read Your Accounts
How to Read Your Small Business Accounts A simple UK guide to understanding your numbers Why Your Accounts Matter Every year, small businesses in the UK have to produce accounts. If you’re a sole trader, these feed into your tax return. If you run a limited company, your accounts get filed at Companies House and […]
Stamp Duty Land Tax – why this will increase as house prices rise and what you can do to reduce it
Stamp Duty Land Tax (SDLT) receipts were somewhat skewed in the last year as the SDLT holiday for properties worth up to £500,000 was phased out on June 30, 2021, and the holiday for properties worth between £125,000 and £250,000 ended on September 30. These two deadlines resulted in a flurry of activity as people […]
Bounce back loans – where are we now?
The bounce back loans, CBILS and CLBILS for larger companies were some of the most generous schemes available to businesses suffering from the impact of lockdowns due to the Covid-19 pandemic, paying out a total of £80 billion to help keep businesses afloat. The Bounce Back Loan Scheme was the largest of these, paying out […]
Higher residential SDLT threshold extended
Stamp duty land tax (SDLT) is payable when you buy a property in England or Northern Ireland. Last year, the SDLT residential threshold was temporarily increased to £500,000 with effect from 8 July 2020. The threshold was due to revert to its normal level of £125,000 from 1 April 2021, but this has now been […]
Recovery loan scheme
If you need to access finance to help your business recover from the effects of the COVID-19 pandemic, the Recovery Loan Scheme may be for you. Nature of the scheme The Recovery Loan Scheme is designed to provide access to finance in order to support businesses as they recover from the disruption caused by the […]
Top 20 most popular questions from small businesses in 2020
At OnPoint Accounting, we aim to keep our clients informed throughout the year and make sure they have all their business questions answered. In this blog post, we gather the most-asked questions from small businesses in 2020. It has been a challenging year for all companies, big and small. However, as much and as fast as […]
Top 10 Strategies to Help Your Business Survive Winter during Covid-19
Upcoming winter months can be scary and full of uncertainty for UK small businesses. Covid-19 pandemic has changed the way we run businesses so it is incredibly important to create an action plan we can act on during the upcoming Christmas and holiday season. In this blog post, I will give you 10 recommendations for […]
Is there a difference between cash flow projection and business projection? If so, what it is?
Is there a difference between cash flow projection and business projection? If so, what it is?
How Do I Pay My Taxes?
How Do I Pay My Taxes? One of the more regular questions we get is how do I pay my taxes? If you haven’t got a direct debit set up then the easiest way to pay is via BACs and the way to do this and details you need to do this are below for […]