Advisory fuel rates (AFRs) are recommended reimbursement figures for drivers reclaiming business mileage, usually for those in company vehicles. The advisory fuel rate is updated by HMRC based on fuel prices every quarter, and publish revised figures if required in late February, May, August and November each year
A financial forecast is an important tool to help you understand the steps you need to take to grow your business or remain profitable. In business, many factors are beyond your control but it’s invaluable to know what to expect in the near future and plan ahead. This is where financial forecasting will help. Here is the HB guide to the value of a financial forecast and how to implement financial forecasting across your business.
It’s a delicate balancing act to keep expenses down whilst still investing in growth and innovation. It is tough but it is possible to reduce costs without impacting growth by identifying and eliminating wasteful spending and ultimately build a lean, efficient business that can weather economic storms and be poised to seize new opportunities. Here are 5 proven cost reduction strategies that can help your business achieve longterm positive results.
The current economic outlook is to say the least, uncertain. Economic questions cloud the future. Interest rates, inflation, and the ongoing implications of Brexit have an impact. As does the consequences of global warming and the conflict in Europe and further afield. Forthcoming elections both here and abroad also make it harder to understand a business’ viability trading forward.
At HB Accountants, we’re not just about numbers; we’re about nurturing talent and fostering a culture of support and growth. That’s why we’re thrilled to introduce our latest work experience placements, as they embark on a journey of learning and discovery with us.
Starting from January 1st 2024, HMRS now require selling and service platforms to regularly report your transactions to them. These records will be cross-checked with the income you’ve reported on your tax return, and any disparities may be subject to investigation.
This measure aims to combat tax evasion.
Getting ready for the end of your tax year might appear daunting but don’t dread it, consider embracing it. This is an excellent opportunity to organise your business. This is easier when you have a great relationship with your accountant and you keep good records.
HB Accountant has always had a passion for recruiting and developing young talent. This passion is rooted in our 100+ year history and is evidenced by 5 of our managers, including Karen, one of our Directors, all starting HB as part of a training scheme. Karen, Catherine, Karen, Colin, and Barrie, all former trainees and with over 131 combined years of HB experience between them, are giving back by training the next generation.
Understanding whether a business is profitable or not is fundamental to the success of the business. If you are a business owner, you need to know what to do to maximise your profits or whether there are areas that need more attention. This is why regularly creatin and understanding your Profit and Loss (P&L) is so important.
Energy costs are a huge concern for many businesses. With further price rises looming, it is a great time for businesses to reassess expenditure, including energy costs, and put mitigations in place to help.
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HB Accountants is the trading name of HBAS Limited, a company registered in England with registration number 5085258. The registered office of HBAS Limited is Plumpton House, Plumpton Road, Hoddesdon, Hertfordshire EN11 0LB, England. Registered for VAT number 866062806.