Chancellor Reeves was recently interviewed about whether she would raise VAT in the upcoming Autumn Budget. Refusing to give a yes/no answer, she instead replied: “The world has changed [since Labour’s initial manifesto pledge in 2024]”. This raises the uncomfortable […]
Do you feel on top of your business finances? Let’s be honest, it is so easy to overlook them. As an owner, your attention is on so many things - marketing, managing staff, staying compliant, delivering value and more. Accounting […]
Many business owners want to use their business to make a positive difference in the world. In 2022, for instance, companies in the FTSE 100 gave £1.85 billion to charities. Local businesses also want to be charitable, participating in community events and fundraising.
Did you know that happiness increases productivity? According to some studies, for each unit of happiness growth (on a 1-10 scale), productivity can go up by 12%. The UK, however, faces a chronic productivity problem as a nation.
There were 4.8 million family businesses in the UK in 2021-22. They are hugely important to the UK economy, supplying 13.9 million jobs in 2020 (over 50% of the entire private sector workforce). Family businesses cover a wide range of firms, from small local pubs to large corporations – although there is a tendency for UK family businesses to fall into the categories of real estate, construction, storage or communication.
Keeping control of your business finances is crucial to maintain stability and steer everything towards success. Yet not every owner is confident in establishing good financial habits to pay yourself (and team members), build good credit, plan ahead and keep on top of the books.
Many things can affect an employee’s productivity, retention, morale and wellbeing. These may include personal relationships and a sense of progression in an organisation. Yet finances also play a key role. Money worries can be significant contributors to stress at work, lack of focus and poor decision-making (e.g. due to lost sleep).
When you sell an asset for a profit (e.g. shares in an investment account), there is often a tax – capital gains tax (CGT) – applied, undermining your returns. One of the advantages of being a business owner, however, is that Business Asset Disposal Relief (formerly Entrepreneur’s Relief) allows you to sell some (or all) of your assets and only pay 10% CGT.
Is your business fully protected if a key shareholder (e.g. director) dies? When this happens, his/her beneficiaries inherit the estate – including shares in your business. This could potentially leave a lot of decision-making power in the hands of people who have little or no interest (or experience) in your business. Fortunately, shareholder protection is designed to help protect both the beneficiaries and other shareholders in this situation.
How do you put surplus business cash to good use? Instead of simply holding it in a regular savings account, you could invest it – e.g. into your team, or back into your business to help generate further revenue. Given the range of options, deciding how to commit a large profit is not always easy. In this guide, we offer five ideas for business owners and directors on this subject.
Whether you have over 200 employees or as few as 1, running a business involves risk. Business protection is used to mitigate these risks, particularly by supporting a business through financial difficulty or loss. Causes of the above might include: […]
Castlegate Financial Management Limited is registered in England No. 2077374. Registered Office: 8 Castlegate, Grantham, Lincolnshire. NG31 6SE. Authorised and Regulated by the Financial Conduct Authority. FCA No. 169777.
