Real Time Cloud Accounting means starting a new business is a lot less risky than it used to be

FreeAgent have conducted research which reveals that as many as 3.2 million people intend to start their own UK business in 2017.

The numbers have been arrived at from a poll of 1,000 British Workers which showed that 1 in 10 of the current 31.76 million UK workforce.

25% of those polled are looking to become self-employed over the next few years which rises to 30% for those who are looking to start a business in the future but don’t have any firm plans in place as yet.

Mileage tracking app MileIQ allows users to keep a track on all the journeys carried out (while you’ve got your phone on you of course!) and each journey can quickly be classified as either business or personal with a simple swipe.
The app has a feature called “Automatic Drive Detection” which uses GPS and The Cloud to ensure the user doesn’t have to manually create or start a new journey in the app. They simply drive to where they want to go and the application will log that journey and also the cost should it be required.

10 easy set-up business ideas for 2017

Was setting up a new business one of your new year’s resolutions for 2017?

A recent survey from cloud accountancy company FreeAgent revealed that more than 3 million working Brits intend to start their own business within the year – that’s about one in 10.

Other research shows that January 31st is the day that most people quit their jobs and move onto pastures new.

If your current employer is giving you itchy feet and you are thinking about making a move, this list of easy set-up business ideas might give you the inspiration you need to get out and go.

Bank to the Future with new Xero feature

Xero have announced a new Running Balance feature aimed at helping SME’s manage their cash flow with even more efficiency.
According to recent statistics 82% of small business fail as a result of cash flow problems so Xero have included the ability to add future transactions into the running balance.
This means that if you know you need to pay out £10,000 to HMRC in two weeks you can enter that payment and your bank will still reconcile but the system will reflect that payment so you don’t dip into money that should be set aside for something else.
Please note in order to view the running balance the page should be sorted in date order. This is the default view but some users may have changed it based on their preferences.
If you need any advice on Xero or how to use this new feature please get in touch with any member of your CloudAccountant accountancy team. Visit www.cloudaccountant.co.uk or email team@cloudaccountant.co.uk

FreeAgent offered to RBS business customers

Cloud accountancy platform FreeAgent has partnered with banking giant Royal Bank of Scotland (RBS) to offer their cloud accounting platform to all RBS and NatWest small business customers.
In a statement the bank said that they hoped the partnership would save their customers time and energy when it came to managing their finances.
FreeAgent makes tax returns quicker and easier to complete and it can also help businesses improve their forecasting.

Apple Pay speeds up credit control in Xero

Xero have released integration with Apple enabling users to pay Xero invoices from their phone via Apple Pay.

The growth of mobile payments has been considerable over the last year and it is expected to continue over the next few years as mobile payments will move to become the default method of payment for many transactions.

Xero has shown that 60% of the invoices sent from their software will become overdue. With the ability for clients to pay those invoices through Apple Pay it is anticipated that many invoices will be paid off up to 80% faster than traditional methods.

FreeAgent warning to eBay sellers and Airbnb renters

With the January 31 tax deadline fast approaching, accounting software company FreeAgent has warned anyone earning money through Airbnb, eBay, Gumtree and other websites to check their tax status before they land in hot water with HM Revenue and Customs.

FreeAgent believes that many people earning money on these sites are not aware that they need to declare the income.

Failing to pay before the January 31 self-assessment deadline will result in an automatic £100 fine. And after HMRC announced a new computer-powered crackdown on ‘sharing economy’ microbusinesses, many individuals could face further penalties for not paying tax owed.

Editor | 6 January 2017
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How many New Year’s Resolutions have you kept over the years? If the answer is zero then this guide is for you.

Sticking to resolutions is a great way to improve parts of your life or business, but only if you stick to them.

At CloudAccountant.co.uk we don’t know much about fad diets and exercising but we do know quite a bit about managing your finances.

Here are five top tips for sticking to business (and personal) finance resolutions.