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Step 3 of Building a Better Business

Reflecting on your business’s vulnerabilities and defining where your business is at, warts and all, is a crucial step to building a better business. Knowing your starting point will clarify how you'll reach your endgame....

Blog from the Dog - WTF! I’ve paid the subcontractor gross and now I have to pay his tax as well?

Where’s The Fairness! “I’ve paid the subcontractor gross and now I have to pay his tax as well?!” is not something that contractors in the construction industry want to hear themselves saying. This week, Jonathan was musing on whether HMRC have it in for contractors in the construction sector.  With the introduction of the VAT Domestic Reverse legislation (see my previous article on ‘WTF! VAT: in Domestic reverse charge on building and construction services situations’) he is no...

Step 2 of Building a Better Business

As Mahatma Ghandi said, “Learn as if you were to live forever”. Being open to new learning is an essential part of building a better business. Where could you extend your knowledge? Set a target and get learning!...

Blog from the Dog - WTF! Overdrawn director’s loan account puts Lyra on a diet

“Where’s the food?” I asked Jonathan who had explained the unwelcome diet implications of me having overdrawn my loan account in Lyra Enterprises Ltd....

Know Your Numbers

Understanding your financial reports, or knowing your numbers, is critical to business success. It allows you to make better business decisions, measure the impact of those decisions, take corrective action where necessary and, ultimately, enjoy better results. If you grasp an understanding of your financial reports, you’ll: Know if your business is growing or shrinkingDiscover trends in your business and be able to respond accordinglyCompare your actual results to your expectationsIdentify ar...

Building a better business

As an owner-managed business ourselves, we understand at Rowdens that to be in business takes courage and commitment. It’s not easy. We're certain that at times you might question why you’re even doing it, particularly after the impact of Covid-19 and the effect that lockdowns have had on business.But you’re here because you had a vision. You decided being in business was a better way to achieve that vision than working for someone else. And, you’re right; you just have to work on it....

Step 1 of Building a Better Business

“The first secret of getting what you want is knowing what you want.” - Arthur D. Hlavaty. You can’t build a better business without defining exactly what you want. Your business is there to serve you, not the other way around! ...

Welcoming your people back to the workplace

As Covid restrictions continue to ease here in the UK, it’s time to start thinking about the return to the workplace and how you'll welcome your home-working and furloughed staff back into the office....

Blog from the Dog - WTF: Different tax advice on the timing of pension contributions in 2023

“Well, There’s Fundamental different tax advice on the timing of pension contributions coming up in a couple of years’ time Lyra!” said Jonathan while we were out for a walk at the weekend. I thought, “Well, That’s Funny, here we are out for a lovely walk and Jonathan appears to be more exercised by thinking about the Budget announcements! Heigh Ho, better run with it, I suppose if it makes him happy! I think Lockdown has finally got to him!"...

Getting back to business

It goes without saying that change has been a theme of late. In the last year, much of the change we’ve experienced has been out of our control. However, if we focus on what we can influence, such as our response to change, we can regain some control and plan to maximise outcomes. If you're a business owner, discover the 5 things that are within your control that will have the most significant effect upon your business....

IR35 and what contractors need to know

6 April saw new changes to the off-payroll working rules. These changes - often known as the IR35 rules - are likely to have a significant impact for any contractors, and if you personally, only work for one client, this could affect you.  Are you contracted to a medium or large private sector company? If yes, your client now determines your IR35 status. Although the company is required to take reasonable care when making this assessment, you might find yourself in an unfavourable posi...

Blog from the Dog - March 2021 Budget. WTF%: Increase in corporation tax rates!

“Well, That’s a Forty % increase in the corporation tax rates between £50,000 and £250,000!” I heard Jonathan mutter as he listened to the budget (well to be truthful it was a lot louder than that, but I need to be a little respectful, as I thought It was only a 6% increase from 19% to 25%).  I may only be a labrador, but even I can work out that 6 of something is a lot smaller than 40 of something (especially if it’s biscuits)....

Surviving the recovery - you didn’t get this far to fail now

At some stage, in the not too distant future, business will return to some semblance of normality. It is important that you: Plan for this recoveryAre ready to take advantage of the opportunities that will be there for youAre able to trade through the period of recovery...

Changes to business solutions as a result of the COVID-19 Pandemic by Jonathan Rowden

In our recent webinar on continuity planning, Penny suggested we look up for a solution to the current crisis rather than continually looking down on the problem. This got me thinking about the solutions businesses will have come up with as a result of the Coronavirus crisis; those that will stay around once things have returned to a more normal level of operating. Clearly, there will always be business casualties as a result of an economic shock to the system. However, having lived and operated...

Changes relating to Wrongful Trading and the Insolvency Laws

In the latest announcements, the Government has announced that “Wrongful Trading” provisions have been suspended from 1 March 2020 and that it will also introduce a new restructuring plan and debt moratorium....

Cashflow projections & Coronavirus Job Retention Scheme

And a possible fly (or two) in the ointment. The 2 action points for this update: ...

Coronavirus Job Retention Scheme “CJRS”

As “Version 1” is always better than Version “None” we think it is better to get something out to our clients contacts and then update as matters develop.   Please understand that this is both uncharted and challenging times for all of us - our grammar may not be perfect and the style may look a little “rough around the edges”; for which we hope to have your understanding!...

Let's beat the virus - by working together Pt 2

A further update on various matters Coronavirus-related from Jonathan Rowden written prior to the Chancellor's expected further announcements this evening (20 March)....

Let's beat the virus - by working together

A further update on various matters Coronavirus-related...

Managing the Coronavirus situation

It is still too early to know how difficult the next few weeks (or months) are going to be. What is certain is that all businesses are going to be faced with a number of potential issues (reduced cash flow, reduced availability of staff due to illness or the closure of schools etc.). We have summarised below some initial thoughts regarding practical points and suggestions to help businesses get through the next few weeks. Guidance for businesses -  www.GOV.UK There is useful information fro...

We've seen the benefits of winning with Xero

Small Firm of the Year award 2018Chasing awards is not our focus at Rowdens. It has always been our firm belief that aiming for 100% customer satisfaction is a more powerful motivator and we're proud to boast that our client base has come via people hearing of the level of our service and attention to detail. However, we were over the moon to be the recipients of Xero's Small Firm of the Year award last year; to be recognised for the work we do for each and every one of our clients. It's brought...

Blog from the Dog - WTF! VAT: in Domestic reverse charge on building and construction services situations

OK, listen up hoomans - this is important. Back in March, I wrote my Blog from the Dog - new VAT rules for the construction industry.  In it, I gave you the heads up on the VAT changes coming into effect from 1 October that will impact construction businesses. Now, I admit this was not my finest hour as around the time of writing that blog, I was still reeling from my fat balls misdemeanour. As a result, I misheard a “F” as in fat for a “V” as in VAT. However, this time I know ...

We help Infinity Business & Finance Solutions

One of our more recent clients is Claire Byrne of Infinity Business and Finance Solutions whom we met during one of BNI Chichester’s morning meetings. In her capacity as Interim Finance Director for a group of construction companies, we are helping Claire and her team utilise cloud software including Xero and Receipt Bank. ...

Blog from the Dog - WTF a pool car!? It can only mean one thing - it’s P11d time!

And as a teaser, would the insurance of a combine harvester allow social and domestic use as well as business use?...

Blog from the Dog - new VAT rules for the construction industry

Another “WTF!” overheard in the office of Rowdens relating to construction clients While I was sitting under the desks, dreaming of chasing rabbits, I overheard another WTF comment, “where’s the fat”…I must admit, I’m a little shamefaced about words involving fat due to a recent experience.I took advantage of a momentary lapse in concentration by Penny. She left the lid off the container containing fat balls for the birds in the garden and I thought it rude not to help myself ...