business partnership

What is the Advantage of a Partnership Agreement?

Cressida Johns Business Advice

Want to start a business and are unsure what business type to go for? Are you thinking about starting a partnership agreement instead of being a Sole Trader or Limited Company? Before you do so, take a look at the pros and cons of starting a partnership agreement. Full article with thanks to: The principal law governing partnerships is set out in the Partnership Act 1890 (the “Act”) which defines a partnership as “the relation which exists between persons carrying on a business in common with a view to profit” (section 1 of the Act). The question of whether a partnership exists or not is therefore a matter of fact (not necessarily agreement). It is therefore not something that the parties can simply determine for themselves. While the relationship can be governed by a written partnership agreement, the essence of a partnership is the continuing relationship between two or …

Small Business Advice Updating Your Business Website

Small Business Advice: Updating Your Business Website

Cressida Johns Business Advice

One of the top small business advice. What I constantly share with my clients is that regularly updating their business website is the best way forward. The heart and soul of a small business should be its website – it’s the ‘place’ that any potential customer can reach without any restriction. Full article with thanks to: A new study has found that shoppers spend 54% less with small businesses that have not updated their websites compared to those that have. The research, conducted by Censuswide for Yell, polled business owners and consumers for their views on the importance of websites. In addition, Yell analysed more than one million SME websites. The results show that many businesses are neglecting to update their websites, with the average site last updated 15 months ago. The data suggests that this could have a direct impact on revenue from online sales, with the study finding that consumers spend …

Small Business Support Hiring for The First Time

Small Business Support: Hiring for The First Time

Cressida Johns Business Advice

It’s not easy to hire someone – often you don’t know them and it can take a while to really learn if they’re a right fit for your business. It’s a risk. But having an understanding of hiring can make the process a lot easier and can actually help you find the best-suited person for you and your business. With our small business support, we can help you find the right staff for your business or you can use our PAYG virtual admin services. With full credit to: Hiring your first employee is a big financial (and emotional) commitment, but it’s also exciting that your business has grown big enough to create a job opportunity. What started as your dream has now become a growing business. It’s no longer just you. Work in your business can potentially now go on even if you’re not there. You’re also in a …

Cropped view of hands typing on laptop with IR35 written boldy

What is IR35 and is it likely to affect your business?

admin Uncategorized

Full article with thanks to If you’re a freelance contractor working for an end client, you should be aware of the IR35 tax regulation, commonly known as the ‘off-payroll working rules’. New rules around IR35 come into effect on 6 April 2021, after a delay due to the coronavirus pandemic. The government has said that the idea behind IR35 is, “to ensure that people working like employees, but through their own limited company, pay broadly the same tax as individuals who are employed directly.” The new rules bring sections of the private sector in line with the public sector. Does IR35 affect me? Before 6 April 2021, a self-employed person who provided services to clients in the private sector via their own limited company, known as a Personal Services Company (PSC), could decide their own tax status and bill them through that limited company. If the end client was in the public …

Red-haired woman analyzes data and makes accounting report

Finding an accountant

admin Uncategorized

Full article with thanks to If your business is taking off and you find yourself spending too much time figuring out financial admin, it might be a good idea to hire an accountant. A good accountant can be a real asset to you – they can help free up your time. Here we cover the basics of what you should consider before hiring an accountant. One thing before we start – remember that if you’re a Starling business customer, you could also try out our Business Toolkit, with all kinds of bells and whistles for accountancy and VAT. What does an accountant do? An accountant can help you comply with your tax and Companies House obligations by filing the appropriate forms and accounts. A good accountant will be able to offer tax advice so that you’ll have more money to reinvest in your business. The best sort of accountants will …

Business sales funnel infographic

The Beginner’s Guide to a Sales Funnel

admin Uncategorized

Full article with thanks to The Beginner’s Guide to a Sales Funnel. Everyone who has an online business needs to create a sales funnel in order to convert their website visitors into paying customers. If you fail to do that, you will hardly make any money. Your primary goal with your sales funnel is to move people from one stage to another until they are ready to purchase. In this blog post, we’ll explain how to create a sales funnel for your online business. What is a Sales Funnel? A sales funnel is a marketing concept that maps out the journey a customer goes through when making any kind of purchase. The model uses a funnel as an analogy because a large number of potential customers may begin at the top-end of the sales process, but only a fraction of these people actually end up making a purchase. As …

Maternity pay for self-employed mums

admin Uncategorized

Full article with thanks to Navigating the ins and outs of maternity leave while you’re in full-time employment is one thing, but figuring out maternity leave when you’re self-employed can be even trickier. Fortunately, there are a few different options available for self-employed mothers. From applying for Maternity Allowance to freelancing during your maternity leave, there are a number of different ways you can protect yourself financially during this time. What is Statutory Maternity Pay? Statutory simply means ‘required by law’, and Statutory Maternity Pay is the pay that employers must provide to their eligible contracted employees. Am I eligible for Statutory Maternity Pay if I’m self-employed? Unfortunately not. To be eligible for Statutory Maternity Pay (SMP), you must have a full-time employment contract with a company that pays you through PAYE and deducts National Insurance and tax for you. You’d also have to have worked for that company for at least 26 …

Smiling chef with food on chopping board in kitchen

Starting a food business from home

admin Uncategorized

Full article with thanks to Guidance on how to get compliant and protect your customers when starting a food business from home during COVID-19. This guidance is for individuals starting food businesses from home. Read in conjunction with our food hygiene and food safety guidance, following these steps will ensure hygiene standards are met, and your customers are protected. During the coronavirus (COVID-19) pandemic many have turned to the kitchen during lockdown. While a pastime for most, others have looked to turn this into an income. With more people cooking and baking from home, some have started to sell to their local community or online as a source of revenue and a potential career. Equally, some catering and hospitality workers have switched to their own kitchen to operate food delivery businesses from home. As part of our Here to Help campaign we are providing support and guidance to help food businesses further adapt during COVID-19. …

Blocks with Tax written on them

Tax Changes For The Self Employed In 2021/2022

admin Uncategorized

Full article with thanks to If sole traders want to prepare for the 2021/22 tax year, they need look no further than Rishi Sunak’s much-talked-about Budget. In it, the chancellor promised to do whatever it takes to protect jobs and livelihoods and outlined how the government intends to support the self employed. To save you the trouble of researching each change, we’ve asked Mike Parkes from GoSimpleTax to list the three big updates and explain how they might affect you. Additional COVID-19 support Both the Coronavirus Job Support Scheme (or furlough scheme) and the Self-Employment Income Support Scheme (SEISS) are set to be extended until September 2021. There will be two remaining SEISS grants, amounting to five grants in total. The fourth will cover February 2021 to April 2021 and, provided you filed your 2019/20 tax return before midnight on the 2nd March (and meet similar criteria to the previous rounds of funding), you’re likely …

Approved Mortgage Application

How to get a mortgage being self employed

admin Uncategorized

Full article with thanks to How To Get a Mortgage Being Self- Employed Here is a step by step guide on the process to enable you to get the best mortgage for your particular needs. The first step is getting your accounts in order. Most lenders are happy to give mortgages to self-employed people who have been trading for at least three years and have two years of accounts or self-assessment tax returns available. However, if you are unable to get three years accounts you may still be able to get a mortgage. Speak to an accountant Lenders prefer borrowers to employ an accountant to prepare self-employed workers’ accounts. Some lenders state the accountant must be certified or chartered – so bear this in mind when choosing one. Make sure your credit is good Make sure your credit is good and that you are permissible to be lent to. …