Autumn Budget 2024 – did you catch it?

Isobel Chaplin • Did you catch the Chancellor’s UK Autumn Budget 2024 today? Here’s our quick roundup of how businesses will be affected… Employer National Insurance The Government are imposing an increase in the rate of Employer National Insurance (Er NI) from 13.8% to 15% from April 2025, with the secondary threshold for contributions dropping […]

Giving Back: A Guide to Charitable Giving for UK Businesses

Isobel Chaplin • With charity awareness days popping up on our calendars left and right, you might be wondering how your business can get involved. But before you start writing cheques, let’s break down what charitable giving means for UK businesses and how to navigate employee sponsorships. The Basics of Business Charitable Giving in the […]

Navigating Your Business Finances: Choosing the Right Accountant and Understanding Bookkeeping & Payroll

Isobel Chaplin • Hello, fellow entrepreneurs! Let’s dive into a crucial topic that can make or break your business’s financial health: choosing the right accountant and understanding the essentials of bookkeeping and payroll. Choosing Your Accountant First things first – finding an accountant who gets you and your business is key. Here are a few […]

DIY accounts or hiring an accountant: making the right choice for your business

Isobel Chaplin • DIY accounting might sound like a good idea, but investing in an accountant could be the best financial decision you make as a business owner. When you’re starting out as a business owner, the temptation is to do you own accounting. Hiring an accountant or tax adviser costs money and that’s an […]

Demystifying Cash Accounting: A Guide for Small Businesses

Isobel Chaplin • For many small business owners, the world of accounting can be daunting and filled with unfamiliar terminology. One such term that frequently arises is “cash accounting.” In this blog post, we’ll explore what cash accounting means for small businesses and how it differs from other accounting methods.     Understanding Cash Accounting […]

Understanding the Importance of P60s for Your Employees

Isobel Chaplin • As a business owner, you’re likely familiar with the importance of providing your employees with accurate and timely documentation regarding their earnings and tax contributions. One crucial document that plays a significant role in this process is the P60 form. In this blog post, we’ll delve into why the P60 is essential […]

Essential Checklist: Top 5 Things to Review for Your Year-End

Isobel Chaplin • As we approach the tax year-end for some businesses, it’s the perfect time to reflect on financial performance and prepare for the upcoming fiscal year. Whether you’re a small business owner, a freelancer, or a seasoned entrepreneur, reviewing these essential aspects of your finances can help you finish the year strong and […]

Spring Budget 2024 – did you catch it?

Isobel Chaplin • Did you catch the Chancellor’s Spring Budget yesterday?  Here’s a quick roundup of how businesses and individuals will be affected from April 2024: Employees The main rate of employee National Insurance (Class 1) is being cut by 2p from 10% to 8%. Combined with the 2p cut announced at Autumn Statement 2023, this will save […]

Should you move your rental properties into a limited company?

Isobel Chaplin • 5 reasons to run your properties through a limited company When you first start out building a property portfolio, you may decide to purchase each property in your own name. While this keeps things simple, there are some clear-cut advantages to creating a limited company to own and manage your properties.   […]

10 ways to improve business performance

Isobel Chaplin • We understand that in current times it can feel daunting planning for business growth. We’ve listed ten ways to make sure that you continue to drive through each business quarter with purpose, vision and encouragement to super-charge your business.  1. Eliminate distractions: “I don’t have time. I’m too busy”. Time is the scarcest resource […]

Accounting myths

Isobel Chaplin • Accounting is a vital aspect of running a business in the UK, and the topic is surrounded by many misconceptions and myths. In this blog post, we will address some of the most common accounting myths and debunk them to help you better understand the importance of proper financial management for your […]

“Why do I need an accountant?”

Isobel Chaplin • Managing finances can be a daunting task, especially as a business owner. The UK tax system is complex and constantly changing, and it can be difficult to keep up with all the rules and regulations.  An accountant can help you manage your finances and ensure that you comply with all the relevant […]

Protect your cashflow

Isobel Chaplin • 3 ways an accountant can protect cashflow – essential to recession proof your business Have you heard the saying “Cash is king”?    Many coaches, accountants, banks, and financial experts will tell you that to survive a recession you need to protect your cashflow. According to Trustnet (https://www.trustnet.com/news/13318089/five-rules-for-resilience-in-rocky-markets–and-uk-stocks-ticking-the-boxes), “An indicator of resilience […]

From spreadsheets to software

Isobel Chaplin • Scary or sensible? Reasons to take the plunge… The world is going digital, and we understand that can be a scary prospect for some. A lot of business can now carried out online or virtually as well as face-to-face, which does have both advantages and disadvantages. But here we’re going to explore […]

Fast-growing business and what to watch

Isobel Chaplin • What you need to know when growth is fast Yippee! Your business has travelled a fair few miles and through different stages to get where it is… the ideas phase where it’s all a bit overwhelming but you decide to make a go of it; through the start-up phase where you’re pulling […]

Making Tax Digital for VAT

Isobel Chaplin • Making Tax Digital from April 2022 – changes for businesses under the VAT threshold From 1st April 2022, all VAT-registered businesses must comply with Making Tax Digital (MTD), regardless of their turnover. Up till then, businesses under the VAT threshold (meaning sales turnover of less than £85,000 per year) haven’t needed to […]

Looking ahead with budgeting and forecasting

Isobel Chaplin • What a budget is and why you need one… All “big businesses” prepare budgets – from their top level budget for shareholders all the way down to departmental sub-budgets detailing the ins and outs for each team. It’s likely that these companies wouldn’t have become big businesses and able to track their […]

When to register for VAT

Isobel Chaplin • If VAT registration is on your mind, here’s some information we regularly share with our clients. We talk to a lot of business owners who are on the cusp of registering for VAT and I thought I would share some of the things we discuss. This isn’t an exhaustive list of everything […]

What exactly are Management Accounts?

Isobel Chaplin • Keeping an eye on your business growth using management accounts reports Whether you are in employment or run your own business, you may have heard the term “management accounts” bandied about like it’s some enigma that only anyone who works in an accounts function would understand. Well I’m here to explain exactly […]

Winning our first award!

Isobel Chaplin • My coach reminded me that I should be shouting from the rooftops about my SME News UK Enterprise Award. It’s not something I feel comfortable doing so Mandie Holgate sat and interviewed me because we really should celebrate our wins, shouldn’t we?As small business owners we work so hard and I’m not sure enough […]

Getting things right from the off

Isobel Chaplin • How to keep on top of your numbers from the word go… So, you’re new to running your business. Or perhaps you’ve been doing it a while and you’re not happy with the way you’ve been dealing with (or perhaps, not dealing with, as the case may be) the business’ finances. I think it’s […]

The client onboarding journey

Isobel Chaplin • Moving to IJC Finance for your accounting services So you’re thinking about getting some help in the numbers department. Maybe it’s one of those tasks where you daren’t even speak the words “bookkeeping”, “accountant” or “money” even, or maybe you’re completely prepared, enjoy it and are just looking for someone to offer […]

Practice Insight for AccountingWeb

Isobel Chaplin • Interview with Senta Practice Management Software I did an interview for a practice management software provider recently talking about how I’ve needed to streamline my workflows as my business has grown. Senta has really helped me to get organised so I can serve my clients better so we all know where we […]

Coronavirus Job Retention Bonus – a good or bad idea?

Isobel Chaplin • Interview with AAT Comment Following the announcement by the Government earlier in July regarding the introduction of the Coronavirus Job Retention Scheme bonus, I was asked my views on its potential effectiveness for the AAT Comment website. You can have a read of the opinions of mine and other accountants here.Is it too little […]

Sole Trader or Limited Company?

Isobel Chaplin • I often get asked by business owners whether they should trade as a sole trader or under a limited company. It’s a decision that’s sometimes simple to make, but there are pros and cons to be considered and you may find that after some thought one style suits your business better. I will explain more […]

Excel99 interview with Clare Horsley

Isobel Chaplin • Learning more about IJC Finance and Excel Networking I had the opportunity to be interviewed by the lovely Clare Horsley of Excel Business Networking in June 2020, as a member of the Colchester group and regular contributor to meetings. It’s always great to discover what businesses offer and see the relationships between clients and […]

BWN interview with Mandie Holgate

Isobel Chaplin • Keeping in touch during lockdown I was very fortunate to be interviewed by Mandie Holgate of The Businesswoman’s Network during the Covid-19 lockdown, and we chatted about the current crisis and how “the show must go” in terms of business, as best as we can. We had some fun and discussed some top tips for […]

The Key to Furloughing Staff

Isobel Chaplin • Furlough is the quite possibly one of the most popular and well-known words out there at the moment, along with “social distancing”, “isolation”, and “lockdown”. But what does it actually mean to a business? Apart from getting the pronunciation correct (yes, it’s not furluff as I first thought but instead furlow) we […]

Getting a COVID-19 loan for your business

Isobel Chaplin • The uncertainty of sustainability in these difficult days of running a business during the COVID-19 pandemic has caused many business owners to look to ways of supporting their business if the cash inflow slows down. One option is to take up the Government offering of the Coronavirus Business Interruption Loan Scheme (CBILS) […]

Income Support during the COVID-19 crisis

Isobel Chaplin • In these unsettling times, the UK Government has announced a variety of initiatives aimed at assisting businesses so that the economy is kept going and those affected by the closure of businesses and self-isolation are also supported. Self-Isolation and Sick Pay If an employee is unable to work due to self-isolation or having […]

Hello!

Isobel Chaplin • I’m Isobel and I’m the owner of IJC Finance, I have taken this leap of faith and started my own business as life is always evolving. Share this post.. Facebook X LinkedIn WhatsApp