Congratulations on reaching a profitable stage of your business and achieving such a big milestone. You have surplus profits in the business, and your hard work is finally paying off. But the question is, what next? One of the first thoughts that will cross most business owners' minds is evaluating the salary you pay yourself, which is perfectly fine and you deserve it.

The term ‘payments on account’ refers to advance payment towards your tax liability for that year. The system is used by HMRC to ensure timely payment of taxes owed but can also be an effective way to help spread the cost of your tax bill. Each instalment is calculated at 50% of your tax bill for the previous year.

Experts recommend that you start investing as soon as you are able. After all, the sooner you invest, the more time it has to grow into a substantial quantity.

Hiring your first employee is a very exciting milestone for the business and a sign that your business has seen positive growth. Not only will you have to figure out the salary you wish to pay your new hire, but you must also consider other factors that will impact your budget, which make up the true cost of hiring an employee.

Recurring revenue describes the situation when customers keep buying a product or service from you again and again. Sometimes they may have a contract with you and they’re buying because they have to. Often it’s just easier or cheaper for them to keep buying from you rather than shop around.

Spring cleaning is all about preparing your home for the new season, but how many of us do the same when it comes to getting ready for the new tax year?

New Year, new me, and what about a new business? The New Year can strike up inspiration for a lot of people, whether you want to learn a new skill, set new goals, or even start your own business! If this is your calling, we’ve compiled 5 key business skills that will be essential to learn so that you can effectively manage a business.

Securing retirement might seem unrealistic with a busy family life. Still, you can take significant steps toward a better financial future through passive income streams, whether through real estate, dividend stocks, or an online business.

In the bustling landscape of financial markets, finding a brokerage that resonates with simplicity, reliability, and innovation can be a daunting task. Enter YLD FX, a notable change in the world of trading platforms, offering direct access to FX, stock, crypto, and commodities markets.

Embarking on the journey to homeownership is an exciting venture. But, before you can get the keys to your dream home, you must tackle an important financial aspect: your Debt-to-Income Ratio, or DTI. DTI plays a pivotal role in your ability to secure a mortgage and buy the home you desire.

Are you ready to take the exciting leap into homeownership? Purchasing your first house is an important milestone in life, and it's essential to be well-informed and prepared. From setting a budget to closing the deal, we've got you covered. Let's turn your dream of owning your own home into a reality.

While high-interest rates can make buying a home more challenging, it's by no means impossible. By following these proactive steps and making informed decisions, you can successfully purchase your dream home, even in a high-rate market. Remember, preparation, patience, and professional guidance from a seasoned real estate agent are your best allies in this journey.

To survive and live life to the fullest, you must care for your financial health. Because of different economic circumstances, money is often a touchy topic in people’s lives. If you want financial peace of mind, you must work smarter about your income and salaries.

If you want to start your own business, but worry that your home does not have ample room, it may be time for an upgrade. However, looking for a new home while beginning your new entrepreneurial endeavor can be a challenge, and there are definitely some mistakes that you should avoid. In fact, too many errors can make the whole process virtually impossible.

As inflation rises in many places, many people are looking for side jobs to supplement their income. And with unemployment at a historical low, there are many jobs out there that you can fill. The key is to look for a job that will not be affected by inflation or one that you can’t be laid off from. That’s when a freelance or gig job can be the perfect solution, as is starting your own small business on the side.

According to the international labour foundation, 169 million migrant workers exist globally, most located in the developed world and comprise one of the most vulnerable workers worldwide. They often leave their home countries for better economic opportunities but often find themselves in situations of exploitation and abuse.

Building a business from the ground up requires substantial hard work, and seeing it succeed offers a tremendous sense of pride in what you’ve accomplished. Is it any surprise then that a whopping 316,310 UK businesses ceased trading in 2020 alone, according to the Office for National Statistics (ONS)?

Small business owners may be focused on lots of different tasks at their job, but one of the most important is projecting the financial health of the company. Sole proprietors and small business entrepreneurs need to understand how their company’s financial projections work so their venture will be more successful.

Businesses are all about making profits while staying ahead of competitors. Data analytics can help you do exactly that. It involves examining raw datasets aimed at drawing insights from the information contained. Using the right data analysis techniques allows you to uncover the raw data patterns and extract valuable insights from the datasets. Today we explain the key benefits of data analytics in business.

For business owners, the start of a new tax year can be a double-edged sword. On the one hand, you’ve made it through tax season and realized new opportunities; on the other hand, it brings new challenges to address unresolved issues from the previous year. The good news is, there are steps business owners can take to prepare their businesses for a great year.