The upcoming Spring Statement, scheduled for March 26, 2025, is shaping up to be a pivotal moment for Chancellor Rachel Reeves and the UK economy. Based on recent reports from the accounting press and national newspapers, here's what we might anticipate: Economic Context and Fiscal ChallengesThe UK is currently grappling with sluggish economic growth, elevated borrowing…
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20 Cash Flow Warning Signs Small Business Owners Cannot Ignore
Cash flow is the lifeblood of any small business, and keeping an eye on certain indicators can help business owners spot potential trouble before it becomes a major issue. Here are the key cash flow warning signs that should raise concern:Declining Cash ReservesIf your cash reserves are consistently shrinking, it's a sign that your business…
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Understanding the Profit Breakeven Point
For any business, knowing when it will start making a profit is crucial. The profit breakeven point is the moment where revenue covers all costs-meaning you're no longer losing money, but you're not making a profit yet either. Understanding this point helps business owners make informed decisions about pricing, sales targets, and cost management.Why Is…
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Claiming VAT on pre-registration purchases
Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper understanding ensures you don't miss out.VAT can only be reclaimed if the pre-registration costs relate to taxable…
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