The Profit First Blog

Our Profit First Professionals offer their best accounting advice, research and how-tos to help you run your business better!

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Navigating HMRC’s New Tax Guidance on Double Cab Pick-Ups

A Guide for UK SMEs If you’ve recently considered a double cab pick-up as a savvy, tax-efficient move for your business, there’s an important update from HMRC you should be aware of. Starting July 1, 2024, the tax classification for double cab pick-ups is changing, and this could impact your

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Your quick guide to dividends: avoiding the pitfalls

As an entrepreneur, understanding the financial dynamics of your business is crucial. Dividends, a common financial aspect, may seem confusing but are integral to your financial planning. So, let’s demystify dividends together. What Are Dividends? Dividends are a portion of your business profits that you distribute to shareholders, potentially including

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Your 5 Most Important Numbers to Track

There are thousands of metrics you could track when growing your business. But we know that you are busy and you just don’t have time for that. However, there is a core set of numbers you need to know how to read and understand so that you can gauge how

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Why You Need An Accountant To Grow Your Small Business 

Small businesses often put off hiring an accountant until they’ve grown bigger, but that’s a mistake that can actually delay growth. The services of an accountant extend beyond simply minimizing your tax bill, although that’s an undeniably valuable advantage. In addition to saving you time and money, a good accountant

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5 reasons to file your tax return in July

Of all the big days in the calendar for the small business owner, the self-assessment filing deadline of 31 January is one of the biggest. This is the date by which you need to have file your self-assessment AND pay your taxes. There’s a stereotype in the accountancy industry that

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Working in partnership with our clients

At D&K Accounting we love working in partnership with our clients on their journey to a successful and profitable business. Many of our clients have come from a corporate environment and setting up their business was a long held dream. Their business is more than just a way to make

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Lasting Power Of Attorney – What You Need To Know

You may have heard of the phrase ‘power of attorney’ before. And may usually associate it with someone taking care of someone else’s decisions/duties should someone not be able to. However, today we are going to look at what is called a lasting power of attorney. Specifically, we are going

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How Profit First Can Benefit Your Business

The cost of living crisis is leaving absolutely nobody unaffected. Whether it’s us struggling with our own utility bills, or even struggling to make ends meet. And it is certainly affecting all businesses in the country. Regardless of size, experience or industry. And moreover all business structures. Whether it’s public

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The role of shareholders within a business

By definition, a shareholder is somebody who owns ‘shares’ of a company. Shareholders will invest their money into a business, providing financial security, as well as overseeing how the directors of the company manage it. In return, shareholders receive a percentage of profits generated by the said company. Moreover, if

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