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Amid the generative AI hype, how is artificial intelligence genuinely transforming the operations of CFOs and finance professionals today?  Our report, “AI: The opportunity for CFOs,” outlines practical steps that CFOs can take now to identify the right AI tools, secure buy-in from stakeholders, and implement these tools effectively.   Following these steps can redefine your […]

Being self-employed in the UK comes with plenty of perks–working on your own terms, setting your own hours, and being your own boss. However, one of the more complex aspects of being self-employed is calculating and managing your own taxes. With no employer automatically deducting tax, it’s up to you to understand how much you […]

As a small business owner, finding ways to benefit from technology is probably always on your mind.   You’ve likely heard how AI is leading the charge towards time savings, higher accuracy, and becoming more adaptable. But for all the hype, it’s important to know that adopting AI for the sake of it won’t bring the […]

The planned reduction in company size thresholds may be a welcome cut in red tape for small businesses, but for accountants it brings challenges as well as opportunities. In March 2024, the previous UK government announced a plan to increase the turnover and balance sheet thresholds that determine a company’s size by 50%. These thresholds […]

With 101 new businesses being launched every hour, the small business sector is as competitive as ever. As an entrepreneur, you’re always striving to get ahead—to gain an advantage over your competitors. One of the easiest ways to do this is to focus on doing what your business does best (and avoid doing what your […]

Understanding financial jargon can be a headache, especially when you’re running a small business. But there’s one term you can’t afford to ignore—basis points (often abbreviated as BPS). Whether you’re dealing with interest rates, loan agreements, or investment returns, basis points can significantly impact your bottom line. In this article, we’ll give you all the […]

As a small business owner, approaching your break-even point is a bit like flying towards the sun. Every now and then, you’ll want to apply the “Icarus” test—to find out just how close your business can get to breaking (without crashing and burning). This is where the formula for margin of safety comes in. In […]

Didn’t get a chance to drop in to Accountex Manchester 2024 on Tuesday, 17 September? Don’t worry: we cover the key points to note in this blog. The keynotes across 4 theatres saw a strong focus on personal brand and new client acquisition, perhaps manifesting a subtle change in the way accountants and bookkeepers view […]

Have you been struggling to manage your inventory? Wondering what you can do differently to improve the flow of stock through your business? If you run a product-based business, understanding the inventory turnover ratio is key to managing your goods. Efficient inventory management is a priority when it comes to inventory-based businesses. Understanding and optimising […]

As a hospitality or service-sector business owner, you understand the hard work your staff puts in and how much customer tips are appreciated. That’s why the Allocation of Tips Act 2023 was created—to ensure all businesses properly pass along all customer tips to their employees. This article outlines the tipping requirements, so you can review […]