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Minimum Wage, Statutory Pay and Deduction Thresholds 2024-25

Minimum Wage, Statutory Pay and Deduction Thresholds 2024-25

Minimum wage rates change on 1st April each year so itโ€™s vitally important you are aware of the new rates and ensure you have checked your payroll software is up to date to ensure wages are calculated using the correct rates. The hourly rate for the minimum wage...

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The benefits of outsourcing your payroll

The benefits of outsourcing your payroll

Running your own payroll? How confident are you that you have a handle on everything? Now don't get me wrong there is some great payroll software out there, ๐˜ฝ๐™๐™ would you recognise if something didn't quite look right and know how to check it? It only takes one small...

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Holding a Staff Party – A guide to HMRC rules

Holding a Staff Party – A guide to HMRC rules

Party season is here, dig out the party outfit and get those dancing shoes on. It's time to get our heads around HMRC rules, to avoid being hit with an unexpected tax bill, and ensure we stay compliant. To qualify for tax exemption the event must meet specific...

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The Importance of Cash Flow

The Importance of Cash Flow

Often overshadowed by its glamorous counterparts like revenue and net income, cash flow is the lifeblood of any business. Cash flow refers to the movement of money in and out of a business and can have a significant impact on a businessโ€™ ability to trade, grow and...

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What is Anti Money Laundering (AML)?

What is Anti Money Laundering (AML)?

When you decide to outsource your bookkeeping to a professional bookkeeper you may come across the term AML which stands for Anti Money Laundering. AML regulations exist to prevent criminals from laundering money through legitimate businesses. Any business who has...

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What is Cloud Accounting

What is Cloud Accounting

Cloud accounting is the perfect solution to manage the bookkeeping for your business. Cloud accounting is software which you can access from anywhere you have an internet connection. Unlike desktop accounting software thereโ€™s no downtime as updates occur on a regular...

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Claiming business expenses for work clothes

Claiming business expenses for work clothes

There are specific rules around claiming for work clothes as a tax-deductible expense. Any clothes which you could use for โ€˜everydayโ€™ or โ€˜personalโ€™ use are not an allowable expense. Uniform If you wear a uniform for work purposes for example youโ€™re in the beauty...

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Should I have a business bank account?

Should I have a business bank account?

This is a question I get asked a lot and the answer is always yes! Hereโ€™s why! ย By law as a sole trader you donโ€™t have to have a business bank account as your finances belong to you. If youโ€™re a limited company, then by law you must have a business bank account as the...

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ABOUT SUE

Sue Haynes is the founder of Cactus Bookkeeping and helps business owners
with all aspects of Bookkeeping to save them time so they can concentrate on running their
business. Sue is licensed, regulated and supported by the Institute of Certified Bookkeepers (ICB)