Plain English guide to profit and loss

Here’s our Plain English guide to profit and loss and what this report reveals about your finances. What is profit and loss? Your profit and loss statement is commonly called your ‘P&L’. It’s also sometimes referred to as your income statement or statement of earnings. Your P&L is a breakdown of your company’s revenue (money…

Our guide to business credit scores

Do you know what your business credit score is, and how it can impact your finances? Your business credit score is a numerical representation of the company’s creditworthiness. In other words, how financially reliable the big credit agencies believe your company to be. In essence your credit score is a measure of your risk to…

Are employee parties tax-free?

If the rules around social functions are followed, staff events like your end-of-year party, or your summer barbecue are tax-deductible for you, as the employer, and tax-free for your staff. This means you can claim back some of the expenses you incur when putting on a social event for your team, while also helping to build better…