RS Accountants

The Entrepreneurial Rollercoaster – a book you MUST read if you want your business to grow

by Russell Smith | Jul 4, 2015 | Business

Clients and contacts of mine will know that I get through quite a few books in the year (average 1.2 a week!). Some books are good whilst you read them but then forgotten, some are forgotten whilst you are reading them and some books really stand out that you a) want...

What is the difference between profit and cash?

by Russell Smith | Jul 1, 2015 | Business

The business owner wants to grow the business so starts investing in marketing. The suppliers that this business owner is using have 30 day terms i.e. they want to be paid within 30 days. The marketing is successful and the sales roll in to the business. Turnover...

Where does the business owner cost go in the profit calculation?

by Russell Smith | Jun 30, 2015 | Business

You have two choices. We can put your cost as business owner into the costs or leave out. There isn’t really a right or wrong answer to this but I’m going to argue that you put your cost in for the following reasons: It shows your TRUE profit since you are a cost to...

Does going to the gym make you more money?

by Russell Smith | Jun 14, 2015 | Business

In my pre-children, lazy, life melting away days, where I would regularly get up late and lounge around reading tax manuals in my dressing gown (we’ve all been there), my mother used to berate me because in her opinion, every successful person she’d ever...

Why you must be an eagle in business….

by Russell Smith | Jun 10, 2015 | Business

I’ve been meeting and helping business owners for 17 years and people ask me what is the one most important ingredient of business success. There probably isn’t one thing, but if I was put on the spot and had to pick one, I would say that you must be an...

Do you know an accountant who can join our team?

by Russell Smith | May 5, 2015 | Business

I am currently recruiting for a qualified ACA chartered accountant. The attributes we are specifically looking for are: Passionate about practice (rather than interested in working in industry) Completed all exams, ACA qualified Bright, intelligent, able to think...

The 8 things you need to know about the budget

by Russell Smith | Mar 23, 2015 | Business, Tax

By now, you have probably already heard and seen lots of headlines and comment about the budget. There are some very good things in the budget for both small limited companies and self-employed individuals. Here are the 8 things you need to know…. 1. Tax returns RIP...

The Budget: It is my favourite day of the year !

by Russell Smith | Mar 18, 2015 | Business, Tax

I couldn’t wait to get up today. YES! It is budget day. It’s not just a budget, it’s a pre-election budget! Our friend George is sure to throw in lots of politics into his speech and be setting some traps for Labour. But what I’m more...

Autumn Statement 2014: Everything that is interesting for you as a small business in 200 words…..

by Russell Smith | Dec 4, 2014 | Business

Hope you enjoyed the Autumn Statement yesterday! If you missed it, here is everything you need to know for small business: 1. The personal allowance, the amount you get tax free is going up to £10,600 next year 2. The higher rate income tax threshold is going up to...

Why you should prepare a budget?

by Russell Smith | Feb 21, 2014 | Business, KPIs

I was once in a meeting with a prospective client and we were talking about his financials. I then broached the subject of putting together a budget for him and started talking about the importance of budgeting annually. He then said he had been in business for 23...