Tide have identified a pain point of most small businesses and that’s cash flow management. Cashflow Insights from Tide is a free service that let’s you connect your business bank account to Tide via Open-Banking to help resolve this problem. So what is it and what does it do?
Do you directly sell digital products such as PDF plans, downloadable software or electronic training courses? Welcome to a whole new world of EU sales tax that I can almost guarantee you didn’t know about. That’s right folks – forget about your £85,000 VAT registration threshold if you’re in the UK. The EU have reduced this for digital products… by a factor of 10! It impacts you wherever you are in the world. If you sell digital products to the EU your life has just become a whole load more complicated. Welcome to the VAT MOSS mess.
I’m not going to get in to the politics of Brexit – far too busy for that. Like it or not though this is history in the making and it’s very likely to have an impact on your small business. I thought it would be interesting to put together a consolidated timeline of events. An impartial version of the story of Brexit… so far.
The 2021/22 tax year in the UK runs from 6th April 2021 to 5th April 2022. Tax returns for this tax year are generally due by 31st January 2023. Here are some of the most common at-a-glance figures you might find useful for the tax year.
Being able to accept credit cards is essential for any modern business. Cash is dead and moving with the times can transform a small business – it did for me! Today I’m going to take you through how to use Zettle – from initial set-up to configuration of more advanced features such as barcode scanning and more.
As a small business owner one of the first things you need to sort out is a bank account. With Tide this couldn’t be easier. You can have an account up and running in under 5 minutes. But accounts such as this aren’t for everyone. Let’s have a look at some of the pros and cons of a Tide account. Who is it for and who isn’t it for? Is Tide even a bank account?
If there’s one thing that the Covid pandemic has highlighted it’s that we’re far from ready for an ‘all online’ approach to running our daily lives. We’ve entered the weirdest phase so far in our juvenile approach to handling sensitive customer data. We’re now positively encouraging people to send personal information via 3rd party public forums, such as Twitter or Facebook. This would be fine if it wasn’t for two things: a) it’s a 3rd party and b) it’s a public forum. Not only is this a terrible approach to customer service but it’s also dangerous and massively short sighted. Is it time to stop using Twitter as a free CRM platform?
I’m a big fan of challenger banks in the UK. The big players have caused enough problems over the years and competition is always a good thing. Today, by popular demand, I’m taking a look at Starling Bank. Is this the final nail in the coffin for traditional high street banking?
Yes folks, here we are again. We have a 3rd and 4th lockdown grant. The government have announced the UK will be in lockdown from the 5th Nov to 2nd Dec 2020. This will be devastating for a lot of small businesses who were just getting back on their feet. The good news is there’s more money available through the self employment income support scheme grant. The bad news is they will only cover 55% of your profits at best versus 80% for furloughed employees. Oh, and a lot of businesses won’t qualify for them at all. Are self employed folk really 30% less important than employees? Let’s take a look at how it all works.
Here's the spreadsheet I used for the Profit Explanation video. It's what I use to work out the difference between Gross Profit, Net Profit, EBITDA etc.