Accounting

Leasing through my Ltd Company - how do I record this in Crunch?

A lease is a way to get the use of an expense without buying the item in full, however, things are affected by the kind of lease. Generally, there are two kinds you will encounter when running a business; an operating lease and a financial lease. Operating Lease: This is best thought of as a renta...

How to export your data

If you’d like to get hold of your data in a spreadsheet format, you can do so by using Crunch's export facility. This feature allows you to generate Microsoft .XLS format spreadsheets, which can be opened by programs such as Microsoft Excel and the free Apache Open Office. Navigate to ‘Your Accou...

What is Disaggregation (Artificial Separation) of a Limited Company?

A limited company can sometimes be seen to deliberately avoid VAT by dividing its services within the company into separate companies. By setting up two businesses you can divide the revenue to ensure they qualify below the VAT Registration threshold of £79,000, and consequently don’t have to charg...

What to prepare for your Year End Accounts

What is Year End? Company Year End is an accounting term for the date in the year when a company must file their statutory documents. It takes place at the end of the company’s accounting year. Your Year End will initially be 12 months from when you incorporated, although this can be changed. ...

Cash flow forecast

A straightforward and sensible way to ensure the money keeps flowing in and out of your business is through a cash flow forecast. This simply means calculating your income and your expenses and subtracting one from the other. We’ve produced a simple-as-can-be weekly/monthly cash flow forecast spre...

Handling CIS without Subcontractors in Crunch

Recording Invoices & Payments When you issue an invoice, you’ll need to show everything you have paid for, such as labour and materials. This breakdown is to show the actual amount you have invoiced your clients. When you receive this payment you’ll need to add multiple payments to accoun...

Checklist For closing Your company

When you decide to close your business, Crunch will be on hand to assist you. Whether you do it via MVL or striking your company off the register, there are a few things that need to be done on either end. Once your final tax amounts are finalised (PAYE, VAT and Corporation Tax), we’ll complete yo...

Informal Strike Off Checklist

Informally striking off your company is a method of closing your business down when you have less than £30,000 in retained profit. This means your company will be taken off the Companies House register so it won’t legally exist anymore, rather than you having to go through the normal liquidation p...

Why a Members Voluntary Liquidation (MVL)?

Sometimes you may want to close down your business even if you’re still solvent, for example, your company has fulfilled its purpose, perhaps you want to retire. If this is the case, you’ll naturally want to extract every penny you can out of the company through your salary and dividends. But, hold ...

Contractor MVLs

Specialist Member’s Voluntary Liquidation (MVL) from the same people who took care of the 2014 Commonwealth Games in Glasgow. Shutting shop and parting company with your business can be an exhausting and expensive process. Depending on your situation, an MVL (Members Voluntary Liquidation) could...

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