Confirmation Bias and Its Effect on Business

What is confirmation bias? Confirmation bias is the tendency to process information and interpret it to be consistent with your already existing beliefs. Confirmation bias can lead to errors and is motivated by wishful thinking. Read more about what a confirmation...

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Getting the Most Out of Social Media Marketing

Most, if not all of your team will have social media, this may be Facebook, Twitter, LinkedIn or Instagram. Some members of your team may even have more than one. So, why not encourage your team to utilise their personal pages to help the business grow? Here are few...

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What Is Making Tax Digital (MTD)? And Who Must Comply?

What is Making Tax Digital (MTD)? Making tax digital is a government initiative to digitalise financial record keeping. Depending on the size of your business you will need to comply with the initiative on 1 April 2019 or 2020. The deadline is fast approaching yet...

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2018 Autumn Budget – The Last Before Brexit

In the last budget before Brexit the chancellor Philip Hammond scales to pave the way for a brighter future, whilst delivering tax rates for 2019/20. Hammond like the rest of the UK is waiting to see what will happen as a result of Brexit, he has previously stated...

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Should You Register for VAT?

Many companies question whether they should register for VAT or not. In this blog, I discuss what VAT is as the benefits and drawbacks of being registered. VAT is a minefield and raises many questions, so I have put this blog together to help you decide whether or not...

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The End of Childcare Voucher Schemes

Earlier in the year, HMRC announced that no new childcare voucher scheme could be set up after the 5 October 2018. Octobers deadline a six month extension from the original deadline of 5 April 2018. Employers can continue administrating childcare voucher schemes they...

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4 Stages of Design Thinking

When we think of designing something, most of us tend to think of think of a tangible product, however, the thought process for design can be applied to business. Here are the 4 steps of design thinking: Define the problem Often when we are faced with problems at the...

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Class 2 NICs to Continue for Self-Employed

In 2016 the government consulted on a proposed abolition of Class 2 National Insurance contributions (NICs) for the self-employed. This flat rate contribution, currently £2.95 a week is payable by the self-employed in addition to Class 4 contributions based on the...

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A Simple Guide to Creating a Brand – Logo

Branding is one of the most important aspects of any business. If you get your brand right your business will have a competitive edge.   What is branding? Branding is a way of defining your business, both internally and externally. Your team need to know what your...

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Knowledge Sharing

Most businesses will have a contingency plan for the loss of data and information on servers and systems. But what if 'knowledge' walks out the door? It is worth making sure knowledge is shared and documented, here are 3 things to take into consideration:  ...

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Are You Prepared for the Self-Assessment Deadline?

Who needs to complete the self-assessment? You will need to complete self-assessment  if: Your self-employment income is more than £1,000 You've received more than £2,500 from untaxed income such as commission or tips Yours (or your partners) income was over £50,000...

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The Benefits of Creating a Business Plan

A business plan does not have to be large 20 page document with tabs and appendices. Your business plan could be a few objectives jotted down somewhere, now this will not be enough to take into investors office but it is a starting point.   What are the benefits of...

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Are You Affected by Tapered Pension Tax Relief?

For most taxpayers the annual tax-free pensions allowance is £40,000. In 2016 the tapered allowance regulation was introduced, lowering this amount for high earners.   Who does tapered annual allowance apply to? This regulation applies to individuals with a threshold...

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3 Things You Should Do When Negotiating

In business, you are regularly presented with situations where you need to negotiate. The situations could be informal day to day interactions or formal client/supplier interactions.   Effective negotiation requires a combination of interpersonal and communication...

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About Progress

Progress with Assure UK is a cloud accounting solution and advisory service based in Banbury, Oxfordshire. We look after all your digital and online accounting needs.

New Business Progress Kit 2018

The Financial, Tax and Accounting Considerations of Starting a New Business

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