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In this digital age, businesses that leverage cutting-edge applications and technologies enhance their operational efficiency and rise to the top. That's why we carefully curated this compilation of top apps for business owners and professionals looking for solutions to various business needs across domains such as organisational management, financial tracking, customer engagement and more. 

Check out these 21 small business management apps, presented in categories, to help you discover innovative solutions that can revolutionise how you organise, operate, and propel your business towards success.

Best Scheduling Apps for Small Business Owners 

One notable advantage of scheduling apps is their ability to mitigate the impact of external meeting demands on business owners. By allowing individuals to set their availability times, these apps empower prospects, clients, and teams to schedule meetings in alignment with the entrepreneur's predefined availability. 

The applications also help eliminate scheduling conflicts and overlapping appointments by centralising availability information and automating the scheduling process. 

Top scheduling applications for small business entrepreneurs in the UK include —

Calendly 

Calendly is a scheduling automation platform designed to streamline the process of scheduling, preparing for, and following up on internal and external meetings. Users can create a personalised scheduling link and booking page according to their availability, which they then share with others, allowing them to book a meeting easily at a mutually convenient time. 

It offers the flexibility of setting meeting rules, such as 15-minute or 30-minute increments, enabling participants to optimise their time efficiently during these interactions.

Pros 

• Simple and intuitive 
• Enhances the professional image of the user
• Has an automatic time zone conversion that removes meeting time confusion for international teams 

Cons

• Limited branding options for scheduling pages 

Platforms: iOS, Android, Chrome and Firefox extension 

Pricing: Offers a free forever plan with the standard plan starting at $10 per monthly seat.

Website: https://calendly.com/ 

Appoint.ly

Appoint.ly is a scheduling application for individuals and businesses. Users create a calendar, set their availability and share with clients and coworkers for bookings. It seamlessly integrates with Google Calendar, Microsoft Office, or iCal and automatically syncs appointments while addressing time zone differences. 

Pros

• Free plan available
• Simple, intuitive and functional interface
• Minimises confusion due to timezone differences

Cons

• No mobile app
• Limited functionality compared to other tools

Platforms: Cloud-based 

Pricing: Free basic plan with the pro version starting at $10 per seat per month

Website: https://appoint.ly/ 

Best Project Management Apps

To meet the demands of a dynamic market, companies often rely on multiple teams overseen by either the founder or a designated manager responsible for setting timeframes and objectives. Project management applications are pivotal in facilitating adequate supervision from home, the office, or while on the move. These applications streamline workflows across teams and ensure meticulous attention to detail, mitigating challenges that impede project success.

Techopedia reports a remarkable 92% success rate in meeting project objectives for organisations consistently utilising project admin apps, highlighting the transformative impact of employing the right tools. 

On the other hand, the State of Project Management Report 2021 highlights the most significant challenges in project and portfolio management: benefits management, resource management, and project prioritization. 

With the above in mind, let's dive into the top 2 project management applications for small enterprises in the UK. 

Trello

Trello is a user-friendly project management software for organising projects into Kanban boards. At a glance, a manager can tell the main task, the individual handling it, and its status. With a generous free plan that accommodates up to 10 boards and unlimited users, it's a versatile tool accessible to all. Small teams, freelancers, and solo entrepreneurs use Trello for individual assignment planning or comprehensive project workflows.

Pros 

• Easy to manage tasks (to-do lists) with an intuitive drag-and-drop system; 
• Leaders can assign tasks with due dates and role-specific access privileges; 
• Users can share images and documents from other apps like Google Drive; and
• It's super versatile, with multiple templates to get new users started. 

Cons

• The process of integrating with third-party plugins is clunky;
• Some basic features are only available through power-ups; and
• The free plan has limited features.

Platforms: Web, macOS, Windows, iOS, and Android

Pricing: Offers free plan with paid plan starting at $5 per user per month.

Website: https://trello.com/home

Freedcamp 

Freedcamp's free version is considered one of the best apps to help organise. It offers unlimited tasks, users, projects, and storage, an excellent choice for SMBs seeking efficient project management software. Their paid plans, including the business and enterprise packages, provide exceptional value compared to rival platforms. The well-crafted native desktop and mobile apps facilitate convenient project administration beyond web browsers and while on the go.

Pros 

• It is easy to use and has excellent support;
• Supports French, German, Croatian, and Russian;
• Has a time-tracking feature that’s connected to tasks;
• Inexpensive with the free option including unlimited users, assignments, projects, and storage; and
• Kanban view allows users to mark tasks as No Progress, In Progress, and Completed.

Cons

• Few native integrations; 
• Dull and basic user interface; and
• Complex integration with third-party applications like Outlook.

Platforms: Web, macOS, Windows, Android, and iOS 

Pricing: Free pro package starts at $1.49 monthly per user. 

Website: https://freedcamp.com/

Small Business App for Communication 

Communication is essential for Small and Medium-sized Businesses (SMBs). However, most cost-effective project administration tools are intentionally designed without a built-in communication or team chat feature. Consequently, businesses find it necessary to explore standalone chat or messaging apps offering unlimited chat history, private and public channels, and video and voice calls. Among the popular choices for this purpose are

Slack

Slack has become a leading messaging app in business communication. Its intuitive and user-friendly interface sets it apart, providing teams with an efficient platform for streamlining communication. The distinctive feature of Slack lies in its channel organisation system, allowing teams to work with designated spaces for different topics, projects, or teams, fostering a more organised and focused communication environment within the application.

Pros 

• Has a fair, free plan; 
• User-friendly interface;
• It's quick and easy to send messages to individuals or groups;
• Customisation options for individual users; and
• Advanced search functionality.

Cons

• Relatively higher costs for the paid plans;
• The free plan restricts the number of historical messages accessible, making it susceptible to losing crucial information easily.
• The free plan limits the number of participants in a huddle to two, affecting team collaboration.

Platforms: Web, macOS, Windows, Linux, Android, and iOS

Pricing: Free plan with the pro plan starting at £5.75 per active user per month paid annually. 

Website: https://slack.com/intl/en-gb/ 

Flock

Flock is a messaging and collaboration tool that offers direct and channel messaging, video conferencing, screen and file sharing, and unlimited chat history. Users can create multiple teams and both public and private channels for communication. It is designed for businesses of all sizes and operates on a freemium pricing model, with additional features available in paid plans. The app is known for its fast and reliable communication, making it a popular choice for collaboration and coordination.

Pros 

• Ideal for instant messaging;
• Free mobile app for on-the-go communication;
• In-built to-do list feature for task assignment and progress monitoring; and
• Users can send themselves messages for safekeeping or access from other devices.

Cons

• Some users report poor audio and video quality; and
• Users can delete unread messages without a trace. 

Platforms: Web, Windows, Mac, Linux, iOS and Android phones. 

Pricing: Freemium with the pro plan starting at $4.50 /user/month

Website: https://www.flock.com/

Microsoft Teams 

Microsoft Teams is a unified communication and collaboration platform that seamlessly integrates workplace chat, video meetings, file storage, and application integration. Its user-friendly interface enables easy connections, communication, and collaboration, rendering it a favoured choice for businesses and organisations across different scales.

Pros 

• The centralised document storage and communication system helps boost productivity.
• Easy collaboration with internal and external contacts
• Enables access to previous meeting notes and recordings
• Can hold meetings or webinars with up to 10,000 attendees
• Has a robust free version for personal use. 
• Integration with the Microsoft ecosystem
• Comes with end-to-end security

Cons

• Not built for phone use
• Its online meeting experience isn’t as intuitive as with other apps

Platforms: Web, Windows, MacOS, Android and iOS,

Pricing: Business packages start at £3.30/user/month, paid annually

Website: https://www.microsoft.com/en-au/microsoft-teams/group-chat-software

The Best Business Apps for Time Tracking 

With time-tracking tools, companies save time, maximise productivity, identify potential areas of improvement, and monitor performance remotely. For the employee, a time tracking app helps them make the most of their workday and manage distractions.

Some of the best small business apps for time tracking include -

Toggl Track 

For the web app, toggl track facilitates accurate invoicing by enabling real-time or manual mode tracking of the amount of time spent on an activity, which can be connected to a specific client, project or task. It also has a calendar view that shows weekly time entries in a colour-coded grid format, with which everyone can see the project that dominates an employee's/freelancer's time.  

Toggl has a free forever plan with limited features for up to 5 users and a premium plan for $18 for those who want additional features like fixed fee projects and integrations with third-party applications like Jira or Salesforce. 

Pros

• User-friendly and versatile;
• Ideal for individuals, freelancers, and teams of any size;
• Provides in-depth reports and productivity analytics;
• Promotes employer and employee acceptance with its anti-surveillance feature; and
• Effortlessly integrates with a variety of third-party project administration and collaboration tools.

Cons

• Few native integrations;
• Users find it difficult to fix time-tracking mistakes; and
• The desktop application is cumbersome compared to the Chrome extension and mobile app. 

Platforms: Web, macOS, Windows, iOS, Android

Pricing: Free plan for up to 5 users, starter $ 9 per user per month and $18 for the premium package. 

Website: https://toggl.com/track/

HourStack 

Hour Stack is a premium time management application suitable for individuals, starting at $12 per month and $ 15/member/month for large teams. It has over 15 native integrations, with an additional 1,500 through Zapier. The tool helps teams create projects, set budgets and timelines, schedule tasks, balance workloads across teams, track time, pull weekly and monthly reports and customise according to their unique workflow. 

Pros 

• Intuitive interface;
• Users can plan for an entire week, both tasks and meetings; 
• The reporting feature enables users to view time estimates vs actual time spent on a project; and
• Easily integrates with third-party applications like Asana and Google Calendar. 

Cons 

• Mobile device applications sometimes don’t work as expected; and
• The integration with Asana can be unreliable.

Platform: Web

Pricing: No free trial, $12 per month for the personal and $15 for the team package

Website: https://hourstack.com/ 

Best Payroll & Employee Management Apps for Small Business or Remote Teams 

According to the UK Parliament post, fully remote or hybrid arrangements enhance employee wellbeing, but the impact on productivity is uncertain. Yet, business owners report that a remote workforce provides an opportunity to embrace a lean model and tap into a cost-effective offshore talent.

If you are leaning towards going remote or hybrid, here are some of the best HR apps for small ventures — 

Deel 

Deel is one of the preferred solutions for distributed workforce management applications with free and pay-as-you-go plans starting at $49 per active contract/month and a footprint in over 150 countries. With their employer-on-record product, Deel helps businesses undertake background checks, hire, offer employees localised benefits, and comply with complex local regulatory requirements. 

Pros 

• Completely free for contractors and employees;
• Intuitive and user-friendly interface for ease of use;
• Streamlined payroll automation feature for efficient processing; and
• The payment system provides clear tax and compliance requirements guidance, ensuring smooth financial operations. 

Cons 

• Customer support may, at times, be unreliable; and
• No mobile application. 

Platform: Cloud-based

Pricing: Free for HR automation, $49 for contractors and $599 for Employer on Record (EOR)

Website: https://www.deel.com/

Motivosity 

Motivosity is a business software solution for those seeking to manage employee recognition, motivation and engagement designed to help companies build a positive workplace culture. Through the app, staff members get a sense of community and belonging. With the option to give regular coaching-oriented feedback, teammates feel they have a positive relationship with their boss and managers. 

Its premium plans start at $2, allowing businesses to use it to motivate their workforce as among the strategies underscore success and get insights that help enhance productivity and retention. 

Pros  

• Intuitive interface that works like a social media page; and
• Makes it easy for co-workers to compliment and recognise each other efforts, building a positive company culture.

Cons

• Limited native integration with third-party tools. 

Platform: Cloud-based

Pricing: Starts from $2

Website: https://www.motivosity.com/

3. Goco

GoCo is a Human Resource Information System (HRIS) business application starting at $5/employee/month that handles onboarding, benefits, time tracking, payroll administration and compliance. 

Pros 

• Automates all aspects of hiring - from sourcing to onboarding
• Handles HR, including benefits and payroll management
• Ideal for small enterprises and large enterprises with remote teams

Cons

• Difficulty mastering advanced features
• Available on the web with no mobile application on-the-go access

Platform: Cloud-based

Pricing: Starts from $ 5 per employee per month

Website: https://www.goco.io/

Best Credit Card, Inventory Management, POS System, & Payment Apps for E-commerce 

E-commerce enterprises depend on efficient and secure payment solutions to ensure a seamless shopping experience, significantly contributing to customer satisfaction and trust. Top payment applications for e-commerce companies include — 

PayPal Express Checkout

PayPal is one of the earliest and most popular online payment solutions. To access the service, you only need to sign up for the express checkout and add it to your website. You can add the checkout through a partner or build your custom integration for your website. Paypal charges 2.90% + £0.30 per transaction. See more details on the UK fees page.

Website: https://www.paypal.com/uk/webapps/mpp/get-started-express-checkout

Square

‍

Square is a free stock management and payment processing app for small enterprises. It enables small and medium-sized businesses to accept credit card payments using smartphones or tablets as point-of-sale system registers. It has the following features 

Pros 

• Clean and intuitive interface
• Free basic plan with robust features
• Wide range of hardware to choose from
• Real-time sales tracking

Cons 

• Cluncky hardware design

Platforms: iOS and Android. 

Pricing: Free for small businesses with the plus plan starting at £49 per month, per location

Website: https://squareup.com/us/en

Best Small Business Apps for Accounting & Invoice Management

The best accounting software for small and medium businesses is affordable and easy to use, recognising that most small and medium business owners are not professional accountants. These tools enable companies to manage their finances and record expenses, profit, and losses. Some of the best tools include —- 

Zoho 

Unlike Freshbooks, Zoho is a free accounting invoicing software for small business owners, solopreneurs and freelancers. 

Pros 

• Simple and intuitive; and
• Multiple customisation options available.

Cons

• Free version is limited to 1,000 invoices per year.

Platforms: iOS, Android, Windows

Pricing: Offers a free version with enterprise quotations available on request. 

Website: https://www.zoho.com/invoice/

Xero

Xero is tailored for medium-sized businesses that need high-level accounting software for sending invoices, accepting payments, managing contracts, and more. Its pricing starts at £15 to £55 per month. 

Pros 

• Cost-effective; 
• Unlimited users and plans;
• Enables collaboration with accountants or business advisors;
• Cloud-based and accessible anywhere with an internet connection;

Cons

• Steep learning curve for new users;
• It takes a long for customer service teams to respond to people; 

Platforms: Cloud-based

Pricing: £15 for the starter package

Website: https://www.xero.com/uk/accounting-software/

Quickbooks Online

QuickBooks is an online business accounting software specifically crafted to simplify cash flow management. It boasts robust features, including automated expense tracking, efficient invoice creation, integrated payroll services, and insightful financial reporting. 

Pros 

• It's easy to use and learn;
• Integrates well with third-party applications
• It is cloud-based, enabling users to access real-time data anytime, anywhere;
• Tools suitable for various business types, including accountants, sole traders and limited companies. 

Cons

• Lacks industry-specific features
• Experiences regular system crashes
• Limited to accounting-specific reporting

Platforms: Cloud-based, iOS, Android, iPad, Tablet, MacOS and Windows

Pricing: $29.90/user/month

Website: https://quickbooks.intuit.com/uk/ 

Best Marketing Apps Or CRM Software

Customer Relationship Management (CRM) refers to business development, systems or strategies to promote client acquisition and retention. A comprehensive solution gathers customer information from all the contact points with the business, such as the website, social media, phone line, email, and marketing content. It uses this data to equip the relevant staff with in-depth customer insights such as purchasing history, preferences and prospects' challenges. 

Nimble

Nimble is primarily considered a collaborative CRM that integrates seamlessly with Google Workspace, Office 365, and multiple third-party applications. 

It emphasises organisational communication and cooperation to improve customer interactions and relationships. Additional features include —

• Marketing automation;
• Lead and pipeline management;
• Task management; and
• Analytics and dashboards. 

Pros 

• Neat, user-friendly interface;
• Connect on the go with its mobile application;
• Best CRM for Microsoft Office, including Microsoft 365 apps, Microsoft Teams and Outlook. 

Cons

• Reporting and analytics are not as robust;

Platforms: iOS, Android and Windows

Pricing: $29.90/user/month

Website: https://www.nimble.com/

Zen‍Desk

Zendesk is a cloud-based operational CRM that automates customer support ticket management, helping users track, prioritise, personalise and solve email support interactions. Its suite plans start from $49/per month for up to 5 agents. 

Pros

• Workflow automation;
• Feature-rich interface; and
• Multi-channel support (chat, email, social media) on a unified platform;
• Integrates with multiple third-party solutions for comprehensive reporting and analytics. 

Cons

• It’s unintuitive and takes a long time to understand the platform;

Platform: Web

Pricing: Starts at £45 per agent per month. 

Website: https://www.zendesk.co.uk/

Copper Google Workspace CRM

One of the best CRM software for small businesses tailored for G Suite applications, Copper empowers sales teams by effectively managing their leads, contacts, and communication from a unified platform.

Pros 

• Cost effective 
• Simple and easy to use, since the interface is similar to most Google applications
• Effortlessly extract leads from Gmail, enhancing contact and lead management.
• Workflow automaton for repetitive tasks
• track and log email chains, meetings, and files from Gmail using the Chrome extension.

Cons

• May issue unnecessary notifications

Platform: Web, iOS and Android Apps

Pricing: The basic plan starts at $23 monthly per user, paid annually.

Website: https://www.copper.com/

Final Word.

When selecting the best app for your business, choose one that will address the most significant bottleneck. For instance, if you are not making the most out of your existing customer database - you’ll need an analytical CRM to gather insights from client interactions with your business for targeted marketing campaigns and product recommendations. 

Key features you should look out for in a business application should include — 

• Ease of use — The applications should be intuitive and easy to use. However, you may need software with elaborate features and functionalities. In such cases, consider if the software company offers product walkthroughs, onboarding sessions, and reviews comments from past clients on their customer support culture. 
• Integrations — You’ll find that many business processes are interdependent. For instance, an order management system may need to communicate with an accounting app. Your email marketing software may require integration with a lead generation tool. Therefore, consider how easily your app of choice connects to third-party applications. 
• Cost — Determine if the software is the most cost-effective for your business needs. In addition to the monthly charges and price per seat, consider if you’ll have to pay extra to integrate with a non-native application. 

What is a Unique Tax Reference Number?

HMRC issues a unique taxpayer reference comprising ten digits (e.g., 0123456789) to all taxpayers, whether they are limited companies, self-employed individuals, or sole traders.

Personal UTR numbers are issued immediately after a self-employed individual files for self-assessment, while UTR numbers are given directly after incorporation. 

Why do I need a UTR Number?

UTR numbers are unique to the holder and, therefore used to identify a person or business for the purpose of taxation. Limited companies use UTR as a reference number when they are -

• Filing returns to HMRC;
• Communicating changes in their accounting period;
• Informing HMRC about changes in their registered details or company structure or

• Transitioning from active to dormant company.

Individuals on self-assessment use a UTR for reference when communicating to HMRC in the following instances —

• File a self-assessment tax return online or via post;
• Work with accountants or other financial advisors;
• Determine their tax bill and pre-pay taxes;
• Claim refunds;
• Track compliance with tax obligations; and
• Ensure accurate record-keeping for tax-related matters.

The reference number helps HM Revenue and Customs track earnings, calculate their liability, and monitor the fulfilment of tax obligations. 

How to Register for a UTR Number From HMRC as a Self-Employed Sole Trader

You will be issued a UTR number during self-assessment registration or when forming an LTD company. To enroll for self assessment with HMRC online, you’ll need a Government Gateway ID and password. If you do not have a business account, you can create one if you are -

• Self-employed as a sole trader
• A business partner, or 
• You need to pay for any other reason; for example, you earn income from a rental property. 

For any other reason, you’ll need to provide your full name, postal address, telephone number, and UK national insurance number and indicate why you are registering for self-assessment. 

To avoid fines, remember the deadline for when you must file returns. 

However, if you’ve ever registered but have not yet received your UTR number, contact HMRC directly through the self assessment helpline on 0300 200 3310. They will post it to you, and this takes around ten days. 

Take time to memorise your number, just like your National Insurance number, it’s yours for life.

How to find your UTR number online?

If you’ve forgotten your UTR number, there are several ways to retrieve it.

Most of your documents from HMRC will show your UTR number; refer to any tax returns letters you receive or forms such as a P60 or P45. Your corporation UTR number will also be printed on your payslip.

See if you can find your UTR number in any of the following resources —

• Get your registered name and number for a ltd company and request your corporation tax UTR online.
• Search through your online Self-Assessment account on the HMRC website.
• Check your “Welcome to Self Assessment letter” (Letter (SA250) sent by HM Revenue & Customs.
• In your “Corporation Tax Information for New Companies” letter (CT41G) sent by HMRC to the official company address 
• Any official correspondence, letters, or notices sent to you by HMRC, for instance, notices for tax payments or statements of accounts. 
• Previous self assessment, company tax returns and other documents. 

However, if you still can’t access previous tax documents (or you want to check your company UTR number), get in touch with HM Revenue & Customs through the self assessment helpline, and they’ll post it to you in 10 working days, or to the registered company address in case of a company utr number.

How do I get a UTR number if I am a Non-Resident?

The law requires non-residents to pay taxes on their UK earnings but not their foreign income. If you are a non-resident, you can apply for UTR through the Government Gateway with the necessary credentials. To get them, you’ll need to have lived in the UK at some point and at least have a National Insurance number (NINO). 

If you do not have NINO, it is possible to register for self-assessment using form SA1, used by those who need to register for UTR number for reasons other than self-employment. As you fill out the PDF, indicate the reason for not providing your NINO. 

Next, you will be asked why you must complete a tax return. Some of your options include if you are - 

• Receiving annual income from a trust or settlement;
• Earning an annual income of over £100,000;
• Getting untaxed income that cannot be collected through your PAYE tax code;
• Earning Income for Child Benefit purposes of over £50,000, and you or your partner is entitled to receive Child Benefit payments on or after 7 January 2013; and 
• Required to pay Capital Gains Tax to pay. 

If you have other reasons for completing your returns, you will be required to give the relevant details. 

Once you obtain a UTR number, you can create a Government Gateway account, sign up for HMRC online services, and file self assessment tax returns. 

For a non-resident company or a collective investment vehicle (CIV) that operates in the country or owns UK-based assets such as shares or land, you are liable to pay your company tax using form CT600 corporation tax return. To file your returns, you will need to provide the following details — 

• Company name (prior names if applicable), registered overseas address, and all contact details.
• Date of incorporation
• Name and addresses of directors
• The date you became liable for company tax 

How do I register for a Company UTR?

To record your company as “active” with HMRC for tax (this must be done within three months of starting any form of business activity or receiving business-related income), you’ll have to provide the following details:

• Company name and company registration number (CRN);
• Trading start date (this will determine the start date of your initial corporate tax accounting period);
• Main address where your business activities are active (this doesn’t have to be your registered office address);
• Outline your company’s principal activities (your SIC code will be needed here).
• The date your company accounts will be noted is also known as the “Accounting Reference Date (ARD).” It is the anniversary of the last day of the month of your business formation;
• Any other information on whether you’ve taken over an existing company/or are part of a group; and 
• Comprehensive details of all company directors (names, addresses, National Insurance number).

If applicable, any information regarding the appointment of an agent (accountant/tax advisor) who handles your company’s tax-related issues.

How long does it take to get a UTR?

How long it takes to get a UTR depends on your circumstances. 

• Individuals register for self assessment online and get their UTR number within ten working days. 
• Non-resident individuals with all the necessary documentation can get their UTR within 21 working days after enrolling for self assessment on the HMRC website. Non-UK resident landlords can register for the Non-resident Landlord (NRL) scheme by calling or writing to HM Revenue and Customs using the following details: 

• For a limited company registered with Companies House, HMRC will automatically get a notification of their formation and send their UTR number within 14 days of incorporation.
• Non-resident corporations must register for corporate tax within three months of becoming liable to pay UK corporate tax. If the corporation has a Government Gateway User ID, HMRC will send the code online. If not, the company will need to create an account and allow up to 8 weeks to process the registration and get access codes to your overseas address.

I lost my UTR number; what do I do?

For lost UTR, don’t worry. Simply look through your correspondence with HM Revenue & Customers. If you cannot trace it, you can call HMRC on 0300 200 3310 to ask about your number and +44 161 931 9070 for those outside the UK. HMRC cannot give your UTR number over the phone, but they’ll send it to you by post in 10 working days.

What is the difference between a UTR Number and a Tax Code?

A UTR number and tax code are tax-related numbers in the UK but for different purposes. A unique tax reference is a 10-digit number identifying an entity for taxation matters issued by Her Majesty Revenue and Customs (HMRC) to individuals or companies.

On the other hand, a tax code is used to identify employers, pension providers, and taxpayers within the context of withholding tax that combines numbers and letters with a distinct meaning. The numbers in a tax code represent the tax-free income an employee can earn in a year, while the letter reflects the employee's situation and how it affects the employee. Therefore, tax codes are not static (they change every year) and are not unique to individuals, and there are situations where two or more people with similar tax dynamics can have the same code.

Currently, the most common tax code is 1257L, which means you can earn up to £12,570 before HMRC requires you to pay your income tax. The letter L means the employee is entitled to the standard tax-free personal allowance. Other letters, such as M, mean the employee has received a transfer of 10% of your partner’s Personal Allowance.

What is a tax return?

Taxpayers must file annual returns with HMRC by post or online, declaring their income and any other relevant financial details helpful in calculating tax liability and scheduling payments or requesting refunds in case of an overpayment. The form is called self assessment because each individual is responsible for reporting their income.

What are the Self Assessment deadlines?

To not miss a deadline, you first need to know that tax dates do not go according to calendar years and are filed in arrears (for the previous year’s income). For instance, when submitting forms in 2023, you are reporting based on 2022 income.

The present tax year starts from April 6, 2023, to April 5, 2024, shortened as 2023/2024, and HMRC requires that self assessment returns be filed by October 5, 2024, if it was your first time filing. Midnight October 31, 2024, and January 31, 2025, are the deadlines for filing a paper tax return and online filing, respectively. HMRC also requires that you pay taxes you owe by January 31, 2025.

Who needs to file a self assessment Tax Return?

In the UK, most people pay tax at source in the form of PAYE (Pay as You Earn) and are not required to file for self assessment. However, according to HMRC, you must file a self assessment tax return (known as an SA100) if, during the tax year, you were -

• Self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on);
• A partner in a business partnership, a minister of religion, or a trustee;
• A resident or non-resident who earned over £2,500 in terms of an untaxed interest, rental income, commission, etc;
• Earned over £10,000 before tax in savings and investments or have You have an annual income of £100,000 or more before tax;
• You have capital gains income received by selling or giving away shares or any other relevant asset;
• Had a total taxable income of above £100,000; and
• Had to pay the High Income Child Benefit Charge.

If you need clarification on your situation, please write to us at info@capital-office.co.uk, and we will give you all the information necessary to make a sound decision.

How do I file a Self-Assessment Tax Return Online?

You can file online using form SA100 if you are self-employed and must submit returns for reasons such as receiving rental income.

However, to file returns for a —

• Partnership use the Partnership Tax Return (SA800);
• Trust or an estate files through the Tax and Estate Tax Return (SA900);
• Non-resident using the Residence, remittance basis, etc. (Self Assessment SA109);
• Report  chargeable events, such as the maturity of a life insurance policy, by filing the electronic flat text file specification (previously called magnetic media specifications) — for UK insurers only or the HMRC chargeable events spreadsheet;
• Minister of religion by supplementary pages SA102M; and 
• SA103L for Lloyd's underwriters. 

How do I pay my tax bill?

You can pay your self assessment tax bill by 31 January for taxes owed from the previous year through -

• Online or telephone banking (Faster Payments);
• Debit or corporate credit card online;
• Your bank or building society; 
• Your online bank account;
• CHAPS or Bacs

Note that HMRC’s banking address is:

What are the Self-Assessment Tax Bill Deadlines?

Submitting returns is complex; you must get the timing right to avoid penalties. Note taxation forms are not submitted based on calendar years but tax years and are filed in arrears (for the previous year’s income). For instance, if you are filing returns in 2023, you are filing for 2022 income.

How do you apply for a Company UTR number?

When you set up your LTD company, Companies House automatically sends a notification to HMRC to issue you with a Unique Taxpayer Reference (UTR) number.

What is the difference between a Tax Rebate and a Tax Refund?

Both terms refer to an after-tax refund a taxpayer receives after overpaying their tax invoice. The refund (rebate) refers to the sum you receive from the government when your taxes exceed your actual tax liability.

How do I file my first tax return online?

If this is your first time filing a tax return, begin by enlisting for self assessment. Complete the registration process online on the GOV.UK website. Once registered, you will be assigned a Unique Taxpayer Reference (UTR) number.

Next, gather documents such as P60, P45, and any other relevant tax paperwork. With your documents in hand, determine if you can file online or if you ought to use commercial software and follow the appropriate instructions. The deadline for submitting your tax return is midnight on the 31st of January, following the end of the tax year, and you should always expect to receive a confirmation from HMRC that they have received your return.

Any taxes you owe must be paid by midnight on the 31st of January following the end of the tax year. Various payment methods are available, including online, phone, or postal.

Remember, you can contact HMRC for support if you encounter any questions or require assistance with the tax filing process.

How to Change a Company Address (Online and With Form AD01)

You are responsible for keeping your company information as held by Companies House up to date. But before you proceed to change, ensure that the new address remains within the same part of the UK where your company is registered – England and Wales, Scotland, or Northern Ireland. 

Change your company address online using your WebFiling credentials (email address and password). 

Watch the video below for more information.

A video guide on how to change your director or company address registered with Companies House

You can also change your details by post using form AD01

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You’ll need the following details to fill out the form – 

• Company name
• Company registration number
• Details of the new address
• Presenter information (details of the person filling out the form)

To avoid penalties, you must update your company information held at Companies House within 14 days of the change. 

Once your change of address becomes effective, Companies House will inform HMRC. 

FAQ 

What is a registered office address? 

Companies House, HMRC, and other government agencies use a registered office address to send official mail. You can use your home or business address, but note that Companies House will no longer accept a P.O. Box.

Also known as a service address, the registered office address is the official address of your Company. As far as mail is concerned, it is the point of contact between your private limited company and the government. 

Before you register your company, be sure to have it in place. 

Can I use my residential address as my company’s registered office address?

Yes. You can use your home address as your registered office address. However, since the address will be publicly available on the Companies House register, you may get unwanted mail and visitors, exposing you to privacy and security challenges. 

Instead, consider working with a virtual office address service like ours and acquire a prestigious central London address that elevates your brand image. 

What is the difference between a trading address and a registered office address?

A trading address is where you are carrying out your business activities. If you have a professional business premise, you can register your trading address as the registered office address. However, you may have to deal with uninvited visitors since this information will be available on the Companies House public register. 

Furthermore, with your landlord's permission, you can provide your home address as your registered address. Yet, this option exposes you to privacy violations and junk mail. 

Do I or a company representative need to be available at the trading address to receive correspondence? 

You do not need to trade from your registered office service location or have any company representative present. However, you need someone at the address to receive, sign, and confirm receipt of the government mail sent to the business. Such an individual can be anybody, including the staff at a virtual office. 

It ensures that official documents, notices, or communications are properly handled and acknowledged by someone at the specified address. By fulfilling this requirement, you demonstrate that you have a reliable point of contact for regulatory or governmental entities, even if the business or company representative is not physically present at the trading address.

What are the key features of your registered address service?

As far as virtual office services are concerned, we are the best. 

A registered office address is a legal requirement during company formation. Further, with the enactment of the Economic Crime and Corporate Transparency Act already established, companies have until March 2024 to switch to a physical address from a P.O. Box. 

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As the name suggests, the director service address is provided by the individual directors, while the registered office address represents the official correspondence address of the company.

What Is a director's service address?

It is the address government agencies will use to send statutory correspondence relevant to the role of the director. Official letters from HMRC, Companies House, courts, the Office of National Statistics, and other agencies will be sent to this address.

Every director needs to provide this information during company formation or at the time of appointment. The address can be residential or commercial, but remember that Companies House will display it in the public register. We always recommend using a non-residential address to protect an individual's privacy.

What Is a registered office address?

Statutory letters in the company name will be sent to the registered office address. Please note that starting March 2024, owing to the Economic Crime and Corporate Transparency Act, which became law in October 2023, a registered office address must be a physical address, not a P.O. Box.

In addition to the office address, the Act also requires all companies to provide a registered email address. Companies House will use this email address to communicate with the company, and it will not be available to the public.  

Starting 4 March 2024, newly incorporated companies must provide a registered email address during the incorporation process. For existing companies, the requirement applies when filing their subsequent confirmation statement, beginning from a statement date on or after 5 March 2024

Can I use my home address as my director service address?

Yes. Technically, you can use your home address as your director service address. However, since this information will be publicly available on the Companies House register, it's essential to consider the implications. Using your home address may impact your privacy and expose personal details to the public. 

Opting for a separate director service address, such as the one provided by Your Virtual Office London, ensures a professional image, safeguards your privacy, and complies with regulatory requirements. Our solution allows you to maintain a level of separation between your personal and professional identity.

Can I use a virtual office address as my director's address?

Yes, using a virtual office address as your director's address is common and legal. You get to present a professional image for your business and streamline statutory communication, as the virtual office can handle mail and other communications on your behalf.

What is the difference between a registered office, business address, and service address?

The terms "registered office," "business address," and "service address" refer to different addresses associated with a company, each serving a distinct purpose. Here's a breakdown of their differences —

Registered Office Address

Also known as the legal correspondence address, it is the official address of a company or LLP used for legal and official correspondence, and with the appropriate permissions, you can use either a residential or non-residential address. Government agencies, regulatory bodies, and the public send statutory letters and official documents to this address. Such correspondence may include—

• Official documentation regarding changes in company structure or details;
• Official company documentation from Companies House;
• Legal updates, notices and summons;
• Compliance information and reminders;
• Correspondence from HMRC; OR
• Important notifications related to the company.

The law requires that companies maintain a registered office address, which must be a physical location in the country where the company is registered.

Business Address

Also known as a trading address, it is the general address associated with the company, used for general business correspondence from customers, clients, and suppliers. It can be a physical location or a virtual office. Unlike the registered address, you are not required to observe the exact legal requirements. There is no legal definition for a business or trading address. 

Service Address

Also known as the director address, it is the official address of company directors, secretaries, and other officers registered with Companies House. It is used for official communication related to the individual's role in the company.

Similar to the registered office address, having a service address is a legal requirement. It helps protect the personal information of limited company officers.

What is the difference between a home and a correspondence address?

The terms "home address" and "correspondence address" refer to different addresses associated with individuals and serve distinct purposes. The home address is the residential address where an individual resides. It is primarily used to identify the location of an individual's residence and is associated with personal matters.

The home address is used for various purposes, including personal mail and official documents, and as a point of contact for personal matters.

On the other hand, a correspondence address is designated by an individual for receiving official correspondence. Individuals may get a correspondence address if they prefer to receive certain types of mail or communications at a location other than their home address.

The economy of the United Kingdom is a highly developed mixed economy, which is the sixth-largest national economy in the world. It is the second-largest economy in the European Union (EU) and the third-largest in the European Free Trade Association (EFTA). The United Kingdom has a strong and diverse economy supported by various industries, including finance, professional and scientific services, manufacturing, and tourism.

The financial services industry, which is centered in London, is a major contributor to the UK economy, as are the manufacturing, pharmaceutical, and automotive industries. The UK is also a major exporter of oil and gas. Despite its strong economic performance, it has faced a number of economic challenges in recent years. These include Brexit, which has had a significant impact on the country's trade and economic relationships, as well as the ongoing impact of the COVID-19 pandemic, which has led to significant economic disruption and job losses. The UK government has implemented a number of measures to support the economy during these challenging times, including fiscal stimulus, support for businesses, and temporary changes to employment regulations.

The country's economy has been affected by the global economic slowdown, as well as by domestic factors such as rising inflation and declining productivity. Despite these challenges, the UK's economy remains a key player on the global stage, and it is expected to continue to grow and adapt to changing economic conditions in the future.

The lockdown measures put in place to contain the spread of the virus have resulted in widespread job losses and a significant contraction of the economy. In the first quarter of 2020, the UK economy experienced its largest contraction, with GDP falling by 2% compared to the previous quarter. The services sector, which accounts for around 80% of the UK economy, was particularly hard hit, with businesses in the retail, hospitality, and leisure sectors being forced to close or significantly reduce their operations. The UK government has implemented a number of measures to support businesses and protect jobs, including the suspension of workers, which has helped to prevent widespread unemployment. However, the long-term economic impact of the pandemic is still uncertain, and it is likely that the UK will continue to face significant economic challenges in the coming years. Even though the UK has implemented measures such as lockdowns and social distancing restrictions to try to slow the spread of the virus, these measures have also had a negative impact on the economy.

The government implemented various measures to try to support the economy, including loans, grants for businesses, and increased welfare payments but the result of a pandemic on the economy is still uncertain and will depend on the success of efforts to control the virus and stimulate economic recovery so the government has outlined a roadmap for easing lockdown restrictions, but it remains to be seen how this will impact the economy.

The UK economy experienced its worst recession on record, with GDP falling by 9.9%. The country has also seen high levels of unemployment, with the unemployment rate rising to 5.1% in the third quarter of 2020.

There is a range of measures that governments and individuals can take to help mitigate the impact of the COVID-19 pandemic. These can be grouped into three main categories: public health measures, economic measures, and social measures.

Public health measures:

• Implementing and enforcing measures such as social distancing, mask-wearing, and quarantine to reduce the spread of the virus

• Testing and tracing to identify and isolate cases of the virus

• Vaccinating the population to reduce the number of cases and deaths from the virus

Economic measures:

• Providing financial support to individuals and businesses affected by the pandemic, such as through furlough schemes, business grants, and loans

• Implementing measures to stabilize financial markets and prevent a financial crisis

Social measures:

• Providing support to vulnerable individuals, such as the elderly or those with underlying health conditions

• Implementing measures to reduce the social and economic impact of the pandemic, such as through remote working or online education

Fast forward to today, the UK has demonstrated resilience in the face of the pandemic in a number of ways. One factor contributing to the UK's resilience has been the strong response from the government and central bank. The government has implemented a range of measures to support businesses and individuals affected by the pandemic, The Bank of England has also taken steps to support the economy, including cutting interest rates and providing additional funding to banks.

Another factor contributing to the UK's resilience has been the adaptability and strength of its businesses. Many businesses have been able to pivot and adapt to the changing circumstances brought about by the pandemic, such as moving to online sales or offering delivery services.

The UK has also benefited from its strong healthcare system and scientific community, which have played a key role in responding to the pandemic. The country has a well-established infrastructure for public health and research and has been at the forefront of efforts to develop and distribute vaccines.

Overall, while the pandemic has had a significant impact on the UK, it has shown resilience in the face of challenges through the actions of its government, businesses, and scientific community. It is difficult to draw a definitive conclusion about the overall impact of the COVID-19 pandemic on the UK economy at this time. The pandemic has had a severe impact on many sectors of the economy, leading to a recession in 2020 and a rise in unemployment. However, the government has implemented a range of measures to support businesses and individuals during the pandemic, and it is likely that some of the changes brought about by the pandemic, such as the shift to remote working, will have lasting effects.

Looking ahead, the UK economy is expected to continue to recover in the coming years, although the pace of recovery is uncertain and will depend on the evolution of the pandemic and the success of vaccination efforts. It is also expected that the economic recovery will be uneven, with some sectors recovering faster than others.

As a citizen of a country, it is one's responsibility to pay taxes. One of the most widely discussed tax topics as the New Year began was the UK government's plan to raise the corporate tax rate from 19% to 25% on April 20, 2023.What changes will this new corporation tax rate cause? And what can you do about it?

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Table of Contents

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• Corporate Tax

• Why All This Changes in Corporate Tax?

• Tax Specializations

• Final Thoughts

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Corporate Tax

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But first, what exactly is corporate tax?

According to Britannica, corporate tax is a tax levied on a corporation's net profits. The definition may be simple, but its concept might be confusing for some due to the complexity of this new tax policy. So, let's try to make it easier to understand!

Businesses sell goods and services in exchange for money, and the sales they make less their business cost will be the profit. With the profits of the company or corporation, the government can take the established percentage as a corporate tax. Resident companies in the UK have to pay corporate tax on their worldwide profits. Non-resident companies, on the other hand, are subject to UK corporation tax on the trading profits attributable to UK permanent establishments. Limited companies—a form of corporate structure where the firm is legally separate from its shareholders and managers—associated with trading profits, investments, and asset selling such as land, properties, and shares for chargeable gains have to pay corporate taxes as well, while sole traders and partnerships have to file a tax return and deduct income tax return on their profit.

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Why All This Changes in Corporate Tax?

Why did the UK government change the corporate tax rate for 2023? It is because of the status of the economy during the past years, caused mainly by the pandemic. The government sees this as an opportunity to pay the lost revenues and expenses during the COVID-19 pandemic. Besides, the UK's new corporate tax rate is just aligned with the corporate tax rate worldwide.

Here's the catch, though. Not everyone has to pay a 25% corporate tax. Beginning April 1, 2023, there will be no single corporation tax rate for non-ring-fenced profits, according to uk.gov. In addition to this, the government declared that the Corporation Tax main rate for non-ring-fenced profits would rise to 25% for profits over £250,000 in the Spring Budget of 2021. Fortunately, the corporate tax rate will remain at 19% for small businesses with profits of $50,000 or less.

What about those whose profits are between £50,000 and £250,000? In the article published by Wellers, the corporate tax for those in the marginal rate will be 26.5% by 2023/2024.

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Ring-fenced companies, which profit from oil extraction and UK rights, have different corporate tax rates than other companies. The following shows the corporate tax policies for these types of companies:

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• The corporate tax rate for small ring-fenced profits rate or those companies with profits under £50,000 is 19%.

• The corporate tax rate for main ring-fenced profits rate or those companies with profits over £250,000 is 30%.

• Marginal relief for ring fence companies with profits between £300,000 and £1.5 million will be available to claim for periods up to 31 March 2023 while marginal relief is available for companies with profits between £50,000 and £250,000 from April 1, 2023.

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Ring-fenced companies are not the only ones whose corporation tax rate is different from others. Other regimes have special corporation tax due to the size of the business, transfer pricing, R&D credits, and some targeted anti-avoidance rules, which will result in additional compliance and reporting requirements. As given by the Worldwide Tax Summaries, the following are the special corporation tax regimes:

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1. Oil and gas company regime (ring-fenced companies)

2. Life insurance company regime

3. Tonnage tax regime

4. Banking sector

5. Real estate investment trust (REIT) regime

6. Qualifying asset holding company (QAHC) regime

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Tax Specializations

Each regime has a distinct tax specialization. For instance, life insurance companies are subject to a unique tax system that has various rates for corporate taxes as well as unique guidelines for estimating or calculating their profits. On the other hand, the Tonnage Tax uses the net tonnage of active ships as a substitute measurement to calculate business tax gains. The Tonnage Tax profit replaces the chargeable gains/losses on Tonnage Tax assets as well as the tax-adjusted profit/loss on a shipping firm and some related operations. Having said that, any additional profits are subject to the standard corporate tax system.

Similarly, businesses in the banking industry must pay an extra 8% tax on income beyond GBP 25 million.

While QAHCs are permitted a stamp duty or stamp duty reserve tax (SDRT) exemption on the repurchase by a QAHC of share and loan capital, as well as the ability to redeem, repay, or repurchase its share through the capital treatment of payments in the hands of investors, profits from the UK REIT's "residual business," or activities other than renting out properties, are subject to corporation tax in the usual manner.

Due to the decision to change the corporate tax rate of the UK, Diverted Profits Tax (DPT), a part of the United Kingdom's response to the shift in the tax environment, is said to rise to 31% starting on or after April 1, 2023.

With no mention of reversal or change, it looks like the new 25% corporate tax rate is going to go ahead, so people need to know how to register for corporation tax and responsibility. To register for corporation tax when starting up a limited company, you need to go through the HM Revenue and Customs section of GOV.UK. You can now fill up the needed information. Corporation tax must be paid before filing the company tax return, which means that the deadline for payment depends on your corporation tax accounting period. Failure to settle the bill by the deadline dates can lead to penalties.

Apart from this, you may be able to lower your corporation tax bill by making use of strategies like the "Annual Investment Allowance," "The Patent Box Tax Regime," R&D tax relief, allowable business expenses, employee share scheme, and many other ways which you may learn about here.

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Final Thoughts

There will be several changes that this new corporate tax rate may bring, whether boosting federal revenues or causing negative impacts on certain businesses. However, those who are knowledgeable and can greatly adapt to these changes can withstand whatever the effects will be. Since the shift will most likely happen, then people must learn the things to do, such as registration, filing, and paying, and the strategies to use to reduce the corporate tax bill. Indeed, the tax environment is even more complicated than we've expected, but this complexity will surely continue as different corporations continue to evolve and as governments have distinct and certain priorities that can greatly influence how their tax policies will be shaped

The United Kingdom has a fiercely autonomous, advanced, and global trade economy that was at the forefront of the Industrial Revolution in the 19th century. The 1990s saw economic growth rates that were competitive with those of other major industrialized nations. After the United States, China, Japan, Germany, and India, the United Kingdom has the sixth-largest economy, with a gross domestic product (GDP) of $2.83 trillion in 2019 and a population of over 66 million.  It is known for having a great overall quality of life and a somewhat diverse economy. The majority of the U.K.'s GDP is comprised of services, manufacturing, construction, and tourism; one of its unique regulations is the free asset ratio.

According to the U.K. Office for National Statistics (ONS), the services sector makes up the majority of the UK economy and contributes to more than three-quarters of GDP. United Kingdom's service includes a variety of sectors, such as finance and business services, as well as consumer-oriented sectors like retail, food and beverage, and entertainment. Agriculture contributes about 0.60% of the GDP, and manufacturing and production contribute less than 21 percent.

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Table of Contents

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• A Bulwark of European Economy

• Trading

• Tourism

• BREXIT

• Health & Medical Sources

• Conclusion

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A Bulwark of European Economy

The United Kingdom, notably London, has long been a center for finance. The banking, insurance, London Stock Exchange, shipping, and commodity markets all underwent substantial changes as a result of the sector's extensive restructuring and deregulation in the 1980s and 1990s. Over time, certain clearly defined boundaries between financial institutions have blurred. Around the turn of the century, the financial services industry employed over a million people and accounted for around one-twelfth of the GDP. While the financial services industry has seen significant expansion in certain medium-sized cities, notably Leeds and Edinburgh, London has maintained its position as the industry leader and has grown in both size and effect as a hub for international financial operations.

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Trading

Trading in foreign exchange and securities has increased along with capital movements. Engineering, food, drinks (including alcoholic beverages), and tobacco, chemicals, paper, printing, and publishing, metals and minerals, textiles, apparel, footwear, and leather, are the most significant industrial industries in terms of their proportionate contribution to the GDP. Chemicals and electrical engineering have seen the fastest growth. The chemical industry has seen the biggest increases in pharmaceuticals and specialty goods. Within the engineering industry, electronics products have seen the quickest growth, followed by electrical and instrument engineering, transport engineering, which includes motor vehicles, and aerospace products.

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Tourism

Another significant source of revenue for the UK is tourism. According to the ONS, foreign nationals spent £28.4 billion, or $35.9 billion, on travel and tourism in the UK in 2019. In June 2019, which is the busiest month for travel, there were 9% more visitors than the previous year. According to Visit Britain, foreign tourists spent £2.34 billion, up 13% from the prior year.

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BREXIT

Brexit, which stands for "British exit," the U.K.'s decision to leave the European Union (EU), became official on January 31, 2020. Since the vote, a wide range of governmental and nongovernmental organizations have predicted that the uncertainty surrounding the ongoing Brexit negotiations has had a negative impact on the U.K. economy. However, this could represent a better opportunity for the nation.

A 100-page report titled "The Benefits of Brexit" was released by the UK government to commemorate two years since the country's withdrawal from the EU. This lays out a range of benefits in many areas of spending, policy, and regulation in an enthusiastic, upbeat manner. A few days later, Jacob Rees-Mogg was named to the Cabinet as the Brexit Opportunities Minister to oversee this initiative.

Brexit has changed astonishingly little in many aspects of health and care, despite the fact that the UK's health industry has already felt the effects of trade and migration. This is because there isn't a clear, widely accepted strategy for life after the single market. The UK has stagnated in a number of areas as the EU advances.

Each of the health-related "benefits" can be broken down to reveal a recurring pattern. Many of these are either places where the UK has a real chance of doing something new and different or where the UK must make a crucial decision between going it alone and attempting to stay close to larger markets.

The document's first section emphasizes the UK's capacity to "manage its own money" and avoid making contributions to the EU. Following that is a bullet point that states that healthcare spending will increase by £57 billion in 2024–2025 compared to the year of the EU referendum.

The report avoids explicitly stating any sort of causal relationship. The Office for Budget Responsibility, which oversees public finances for the UK government, predicts that the net result of Brexit will be less rather than more money available due to a slowdown in economic growth.

Instead, the UK is funding the entire recovery effort through its own accounts. It is using this to invest in health in a way that is somewhat similar to what we see in the EU. The NHS is receiving additional funding to reduce waiting lists, and thanks to a spending review based on higher borrowing, its capital budget is expected to increase to its highest level in many years. This, however, has been packaged with a strong emphasis on new hospital building investment and meeting targets rather than investing in new care models or pandemic preparedness. In addition, rather than using the EU's seven-year timeframe, the UK has restricted its spending horizons to its typical spending review period. This doesn't seem to be a completely new direction at all.

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Health & Medical Sources

Regarding medications, the new minister has said that "we can use our freedom to approve life-saving drugs faster and at better prices than ever before." The recent rapid approval of vaccines and new methods combining the approval of medicines with value-for-money checks have all been done in accordance with retained EU law, indicating a lack of concrete plans. According to reports, a strategy of general alignment and fast tracks for specific innovative projects has been proposed. The logic is sound, but the details will be challenging, just like with medical devices.

Despite the fact that many international processes are still in their very early stages, the document's sections on trade once again emphasize a high level of general ambition. There is a lot of discussion about diplomatic and trade promotion initiatives that are independent of Brexit.

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Conclusion

The probability of the UK joining the Pacific Trade bloc CPTPP is a major topic of discussion. As we have noted, while this is advantageous for industries subject to tariffs, it is typically not the case for goods related to health. The agreement could reduce the UK's latitude in food and drink regulation and introduce Investor-State Dispute Settlement systems, which are sometimes linked to legal action against public health measures by large corporations.

They say that by removing a portion that made you heavy, you will move more quickly. Will this be applicable across the board?

Ever since Facebook and Twitter became a fad of the modern generation businesses of all sizes realized their potential and immediately created business pages on the top 10 percent social media sites in the world. Their goal is to attract new customers, build their brand and engage a wider audience. But how do you use the different social media channels to your advantage? Where do you start? And what do the professionals recommend?

In this article, we are going to talk about the 7 best social media marketing tricks to catapult your business into success.

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Table of Contents

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• Understanding your Audience

• Take Advantage of the Strengths of Each Channel

• Interact with your Audience

• Show There’s a Human Behind the Brand

• Ensure your Senior Executives are Authentic

• Use the Right Tools

• Put the Effort in to Gain Value

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1. Understanding your Audience

The first thing you need to do is to understand your audience and why they particularly chose to be in that specific social media channel that you plan to market your business on. The manner in which they use social media should also be looked into. For example, certain users prefer to be on Facebook and Instagram because it allows them to post more texts, photos, videos and create “MyDay” video and picture tidbits of your day and Instagram stories. By comparison, on Twitter they can only post up to 280 characters of texts (which includes links to other sites).

What does this tell you as a marketer? It shows you that one group of users prefer to be more bold and want to build their social media profiles more prominently, while the other group prefers the minimalist style of exposing themselves to the world. Some are just there to become amateur journalists and if we take Elon Musk’s statements about Twitter users being fake bots at face value, then some are there just to become spammers. This tells you to cater your ads to your audience differently in order to capture their interests.

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2. Take Advantage of the Strengths of Each Channel

How users engage in ads on different social media channels will determine how your sales output will perform. It would be a very good thing if you did a feasibility studies about this, so you can do effective social media marketing on each social media sites and succeed. Every channel has different strengths. Many businesses use Facebook as a shop window displaying lots of key information such as their location, website and opening hours, so it helps connect with the brand.

Twitter’s strength is based on delivering information straight to the point in 280 characters or less and you make sure your ads are squeezed into these parameters. On the other hand, Linkedin is slightly more formal in tone but has some great tools for engagement like groups and polls, so use this tools to market your business. Now TikTok is the most unique of them all! On TikTok users are allowed to upload videos on a myriad of topics that range from 10 seconds – 3 minutes. But we also know that people nowadays have very short attention span, so you make TikTok video ads that are short but will include all the key points about your business for people to engage.

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3. Interact with your Audience

The best thing that social media created is a place where businesses and their customer base can interact on a personal level. It also gives more power to the paying customer and demand more from the businesses that they patronize. A good example of this is PayPal. A good friend of mine told me that his financial issue on PayPal was resolved faster on Facebook or Twitter than by calling them over the phone. Back in the 1990s this would’ve taken someone a week to get resolved and this is not counting the communication between banks and the fintech third party business like PayPal. This is also true on various other businesses and their customer base.

You can also hire professionals on job boards like Upwork, Fiverr and ClousPeeps to handle all the customer service for your business on social media via chat. This means that you’ll also save money on hiring employees and put them on freelance work, instead of hiring people the traditional way and adhere to government mandated salary and benefits and so forth. Some of these contractors go above and beyond to please your customers, which not only makes them happy doing business with you but they keep coming back for more and become repeat customers.

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4. Show There’s a Human Behind the Brand

It’s crucial for your business to survive by engaging with your audience in not just a professional way, but also being genuine and human. As a rule of thumb, it is recommended that you drive a friendly conversation with your audience on social media, preferably with a relaxed tone and letting that human side shine through; although there may be some exceptions, especially with what type of business brand you’re marketing.

Allowing the ‘human side’ to flow unrestrained when you’re a B2B brand means that you come as an honest person rather than a business entity in the eyes of your clients. When you’re a B2B company, you are not appealing to the other company/brand, you’re actually talking to the shareholders and employees working in that company. They are a different kind of customers that you’re trying to reach out to and it’s kind of like a B2B2C. That human side that we’re referring to is absolutely critical once your clients/customers calls in to complain about your products or services – it helps reassure them that their concerns are being seriously considered when they know there is a real person behind the account that they’re communicating with.

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5. Ensure your Senior Executives are Authentic

Remind your company execs that despite you respect their personal space and private lives, when they post on social media they’re like politicians and any untoward or negative post or comment or even an emoji reaction can deeply affect the company, therefore they should be careful with what they post on social media. Make sure that you tell your executives to make their interactions on social media to be relatable to the customers in general in order to resonate with their audience.

Basically just tell them to be as authentic as possible as most people can detect their insincerity, which can hurt your company’s reputation. You may call for a meeting with your executives and discuss how they should post on social media; however, try not to takeover their accounts as you could be fighting yourself in that case and you may lose that authenticity that you’re trying so hard to implement among your subordinates.

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You may also want to read "How to Setup a Limited Company Online"

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6. Use the Right Tools

There are more than 133 social media sites operating on the web as of August 2022 and normally experts recommend that you only market your business on the top 20 of these sites. But managing even with just a fraction of these sites can be time-consuming and exhausting, and you will need tools that can help you manage your social media pages efficiently. Perfectly timed social media posts gets the greatest audience share according to experts, therefore you should use a scheduling tool to help you post important updates on the different time zones in the US and make sure that you post mostly in the morning at around 9 – 10am local time. There are quite a few on the market such as Loomly, Hootsuite and Meltwater. These allow you to spend a couple of hours scheduling all your content for the week ahead.

A sentiment analysis tool like Clarabridge or Onalytica may also be helpful in you calibrating your social media interactions and improve your business transactions with your customers based what people are saying about you on social media. Positive responses from your audience means that you’re on the right track and you ought to keep doing what you’ve been doing. However, if you receive negative feedback from customers and the general public, then this indicates that you need to step up your game in appeasing them. Come up with a sound strategy to win back the hearts and minds of the people to your brand and outmaneuver your competitors.

Lastly, keep track of each social media analytics as this can tell you your KPIs (key performance indicators), which areas are doing well and which areas needs your attention and improvement. If you pay attention to the tiniest of details and keep your ears to the ground, then you’ll do just fine with your social media marketing efforts and be on top of your competitors. Having said that, be creative in engaging with your audience and make your competitors stumble in keeping up with you, instead of the other way around.

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7. Put the Effort in to Gain Value

Doing social media marketing and managing your social media pages requires a longterm commitment. You can’t expect to make a big splash in the water by just dipping your toes into it, the same way, you cannot expect to see great results with a few days’ worth of effort. It’s ironic isn’t it? Everything now is digital and can be accomplished with a push of a button or a few clicks of the mouse, and yet still, it takes months and sometimes even years to establish a strong business brand on social media while battling it out with your competitors.

Consistency and perseverance will definitely produce amazing results for your social media marketing efforts and you’ll be very happy after a year or two of doing this, because you will have reaped the benefits of your labor.

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Who do you contact if you have a question regarding a product return policy? Booking a clinic or business appointment? Cleaning services, maybe? You make a call, right? Telephone answering services have significantly increased both locally and internationally over the past few years. Particularly for small businesses, services like call answering are increasingly pretty common.

Many people remain doubtful about the advantages a phone answering service delivers to small and large enterprises despite all the success and growth observed after using such a service.  Humans prefer to speak to humans. Clients, consumers, and patients often become irritated and hang up when they receive a voicemail or an auto-attendant.  

Do you know that missed or unanswered calls result in reduced revenue and even worse overall client satisfaction? In fact, according to surveys, one out of every three business calls is missed. That amounts to a third of your customers' unanswered calls, which can affect your company's reputation, brand, and sales.

With this basis, a phone answering service that accepts incoming calls on your account is an essential tool for improving communications, streamlining processes, and boosting revenue. You're missing out on great opportunities to build relationships with consumers and clients and expand your business if you use an automated system to handle phone calls.

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Table of Contents

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• What Example Industries Utilize an Answering Service?

• Captures more Business Opportunities

• Boost Productivity

• 24/7 Support

• Make a Positive Impression

• Reduce Business Expenses

• Maintain a Professional Image

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What Example Industries Utilize an Answering Service?

Answering services are used by businesses of various shapes and sizes, from little startups with a few staff members to large corporations with thousands of employees. It exists in even one-person offices.

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• Product manufacturers

• Realtors

• Event planners

• Physicians

• Dentists

• Veterinarians

• Churches and other religious-based groups

• Legal consultants

• Electricians

• Janitorial/Cleaning services

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Think about the following six business perks of live call answering:

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Captures more Business Opportunities

You will get a call by working with a phone answering service. Anyone in business is aware that sometimes it takes one phone call to close the deal you've been waiting to make or to delight a loyal client who might become your biggest supporter.

If someone attempts to call your company and no one picks up, it's detrimental to your brand and can suggest that you don't value customer business. On the other hand, it speaks highly of your company if a call is answered by a highly professional, competent receptionist who has years of experience and relevant industry knowledge. You won't ever have to worry about disappointing a customer since you can work in the confidence that a professional receptionist is available to answer your calls.

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Boost Productivity

Every call is an opportunity to provide excellent customer service and boost sales, but sometimes picking up the phone can be an unpleasant distraction that you just don't have time for. And interruptions may be a serious challenge for a small business owner or a solopreneur, especially when you're in the middle of a meeting or working on a big project.

A phone answering service takes messages when you're not available, and prevents unpleasant sales calls. This allows you and your team to concentrate on the essential tasks at hand while still meeting the needs of your customers and clients.

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24/7 Support

Any business has to provide excellent customer service as it is critical for company growth. Additionally, offering excellent customer service might provide you with a significant competitive advantage.

Keeping a dedicated team of customer service representatives available around the clock can help you provide the customized experience that both new and returning customers so greatly value.

Being accessible outside usual business hours is also very beneficial to your clients. Despite the growing trend of working shifts, many people find it more convenient to get in touch with a company in the evenings or on the weekends.

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Make a Positive Impression

Live call answering promotes both word-of-mouth marketing and excellent customer service. Most of the customers say they will tell others about the good customer service they received. The number of potential prospects contacting your company increases for each caller who interacts with a helpful, knowledgeable business person.

Of course, there's a good chance that if someone has a bad experience contacting your business—if they can't get through or get an unhelpful machine—they'll also tell their friends, family, and coworkers about it.

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Reduce Business Expenses

You might think that using a live phone answering service will increase your small business's expenses. But in fact, it can enable you to make financial savings. You can save money by not paying for missed calls and lost business by having someone answer your calls. Additionally, you can save money by not paying for additional employees to take care of your phone calls.

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Maintain a Professional Image

One of the first things potential clients will take into consideration when choosing you is your business image. You want them to have the best image of your business possible whether they are calling to ask about your services or to place an order. By making sure that every caller is warmly welcomed and instantly assisted, a live phone answering service may assist you in creating a professional image. You can also include details about your company in your greeting, including your operating hours or a brief description of what you do.

The bottom line is that it's important to remember that calls are also an extension of the business. There are millions of people who want to speak with someone in charge, but they're not getting through. You need to demonstrate that you're ready to take care of them and make them feel valued the same way that you build confidence in managing your business well from calls to strategy, operations, and customer service.

Hopefully, this article has helped you decide if a live call answering service is the right choice for your small business if you're still undecided. There are plenty of advantages to using one of these services, and with the market's increasing competitiveness, it's more vital than ever to deliver good customer service if you want to maintain a competitive advantage.

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They say changes are the only constant in the world. We always see a lot of changes happening around us. Be it in medical field, transportation, technology and also in business management. People nowadays seems to be too smart to develop a lot of trends and ways on how to cope up with the fast-changing world.

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But after all of these changes, the same old tasks in managing a business are still important, like sending invoices, answering calls for customers' inquiries and many others. Specifically for these reasons, virtual offices are born and created, which is very suitable for those who manage their businesses distantly and do not have a permanent location. This is a practical setup with a good effect for businesses. Having a business address is also a big help for startup businesses that want to endorse their brand and make a mark in the market.

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A business address is an actual and private enterprise that provides a local representation for businesses that is not dependent of location. It is commonly found in a prime location so that it can establish a good reputation to the business itself. It is better for a business to have a virtual business address instead of using the owners' home address to gain their clients' trust and integrity without compromising the owner and employees' privacy.

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Business address is an important part of identification for any business. It does not work only in promoting the business brand, but it also helps in establishing the tone of the business. Startup businesses should consider getting a virtual address because it will help them in their business address services. It is also a big help in the business search engine optimization (SEO). A good SEO optimize the business visibility online. This makes the business website visible to a lot of people online by increasing the online traffic. This gives a good opportunity for your products or services reach a lot more people which means more potential clients.

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It will be helpful for business owners to know the advantages of having a business address. It might help them decide on what and where to get a business address that is perfect for their own brands.

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Table of Contents

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• Gives the Business a Good Reputation to their Customers

• Accomplish Work Remotely

• No Need to Travel - Helps Save the Environment

• Uplift Employees Contentment and Efficiency

• Be Able to Have the Best Talents

• Cost Efficient

• Ease in Growth

• No Long-Term Office Space Contract

• Professional Business Support

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Gives the Business a Good Reputation to their Customers

A business address with a virtual office that is reputable and distinguished can guarantee that the brand's image is acceptable, reliable, and excellent. It will look more professional and legitimate to see a business address and office phone number included on the business cards, email, and website. Using a business address and phone number instead of owner's home address and mobile number will give a good impression to the business in terms of professionalism and credibility and will make the business more accessible to the customers and clients.

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Accomplish Work Remotely

Since virtual office can be accessed online, the business owners can check the business status anywhere and anytime they want. This is a big advantage of having a business address with virtual office. Virtual office gives the owners the pleasure of working in a flexible setup. This is ideal for businesses that only need internet access in running it.

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No Need to Travel - Helps Save the Environment

Having a virtual office can also be environmentally friendly. Since there is no traditional, physical office to go to, there is no need to travel. Reducing the times of travelling lessens the carbon dioxide emissions which also mean helping in eliminating air pollution. Working remotely saves travel time. There is no need to sit in traffic, wait for public transportation or be in a crowded train. The saved time can be used in other important things instead.

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Uplift Employees Contentment and Efficiency

Happy employees mean good output at work. Having a virtual office has a lot of good sides to the business' employees. It gives them the luxury of time because they can work remotely from home. They can save money from not commuting and let them enjoy work-life balance. Employees can turn their workspaces at home to how they want it to be. This personalized space can make them more relaxed and happier, thus, making them more engaged and happier while working which will result to being more productive and efficient.

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Be Able to Have the Best Talents

Being accessible anywhere, virtual office can reach a wider range of people, not only customers but also the best people that will perfectly fit on the positions of the company. Business owners can hire talented and smart people anywhere in the world since they can work remotely. They also don't need to move to bigger office when the business grows. The business success can be highly attainable.

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Cost Efficient

It is a lot cheaper to have a virtual office than having a traditional physical office. A business owner can get a virtual office in a highly rated business address without paying as much as renting or buying a physical office in popular business areas. This gives the owners opportunity to allocate the budget they save from commuting and transportation, office rent, supplies and utilities, and many others. They can invest the saved money to their own business giving them more opportunities in growing the business and making it successful.

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Ease in Growth

Having a virtual office give the business owners an opportunity to expand their businesses without the need of moving to a bigger office space. This is a good thing for the owners because they do not need to spend as much as they need if they are moving to a bigger traditional office space. In growing a business with a virtual office address, space does not restrict owners. They can expand their offices in a new location or have new several offices in different places while trying out the market.

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No Long-Term Office Space Contract

Virtual offices are paid monthly. Because there is no physical office space, owners do not need to sign in a long-term contract for office space lease. All they got to do is pay for virtual office address as long as they need it which is a let risky.

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Professional Business Support

One of the important extra features of virtual offices is their support for the business on small time-consuming tasks like answering clients' calls and sorting post. Business owners will enjoy 24/7 assistance.

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Knowing all these advantages that virtual business address can offer, it will be easier for business owners to decide whether a virtual office can be beneficial with their own businesses. These benefits will allow them to focus on more important things and give satisfaction not only to the clients but also to their employees that is a big factor on growing businesses.

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