Osome Blog UK
Osome Blog is a resource for entrepreneurs and everyone who wants to become one. We help to avoid mistakes that can be avoided: save money, hire the right people, prevent fines, and make sense of the rules and legal requirements you will face on the way.
Tools to Keep Track of Your Startup Finances: P&L and Cash Flow
Running out of cash is a Number 2 reason for startup failures. So how to avoid cash disappearing into the void? Even if you are bad with numbers and find mathematics exhausting, you can use two simple tools to organise your finances: P&L and Cash Flow statements.
10 min read
How Can a Foreigner Open a Business Bank Account in the UK?
Can a foreigner open a business bank account in the UK? Yes! Nothing stops UK banks from opening business accounts for non-residents. We look at your options if you don’t want to buy or rent property and compare the bank tariffs for you.
10 min read
Form P50: Get Your Money Back Before the End of the Tax Year
If you overpay your taxes and you don’t get any taxable income for 4 weeks, you can contact HMRC and claim your refund straight away. That is what P50 is for. We look into the process and give tips on how to make things happen.
3 min read
What is Business Mileage and Who Can Claim It?
If your employees drive back and forth for business purposes, it’s a business-related expense. Thus, employees can claim petrol money back, and the firm can deduct these reimbursements from its taxable income. In the article below, we break down the latter — the so-called business mileage claim.
4 min read
Want to run your business smarter?
Osome Newsletter can help
We write about saving money and building a feasible business, invite real entrepreneurs to share experience — and sometimes retell really cool business books.
All Filing Requirements & Deadlines for a Small Business in the UK
As a limited company director, you have to keep 2 government agencies informed about your business: HMRC and Companies House. There are various forms and payments to take care of, and different filing timelines do not make it any easier. Let us glue all the pieces into a single picture, shall we?
5 min read
Selling Your Business? Entrepreneurs’ Relief Helps to Pay Less Tax
Entrepreneurs’ Relief (ER) allows you to pay less tax when you sell your company. ER is great for those unhappy with where their startup is going but unwilling to give up on their entrepreneurial career. ER can save some money and also bring enough funds to start a new business from scratch.
4 min read
How to legitimately reduce your corporation tax
You can take advantage of the legitimate ways to reduce your corporation tax, such as claiming expenses, paying yourself a salary, and spending profits. We explain each step with examples and show how you could reduce the tax you owe more than by half.
5 min read
Big Ben, Victoria Peak, and $3 Million
Osome announced a $3 million financing led by Target Global. The new investment will help expand its technology platform to the UK and Hong Kong, and already started testing these markets.
2 min read
VAT returns and Making Tax Digital (MTD) in the UK
VAT returns in the UK have been moved online — from 2019, Making Tax Digital system is in force for it. We explain how to deal with it and what the deadlines are.
3 min read
Oops, I’ve Overpaid an Employee
On a settlement day you understand that you paid too much to one of your employees last month. Or the employee comes to you and awkwardly says that they have been receiving way more money than the employment contract requires. How to solve any overpayment? Here are the answers.
5 min read
Confirmation Statement: Everything You Need to Know
The confirmation statement is a document that must be filed by every limited company and limited liability partnership (LLP) at least once a year. If you don’t follow deadlines when filing the confirmation statement, your company might be closed, so let’s have a closer look at the requirements.
6 min read
Capital Gains Tax for Individuals in the UK
Capital Gains Tax is imposed when an asset that increased in value is sold. Let us look at cases when you do and do pay this tax, the rates and how they apply to you.
4 min read
Taxes for UK Business Owners: 2019/20 Tax Rates, Thresholds & Allowances
Small business owners face double responsibility when paying taxes: they account both for themselves and for their companies. It is tiresome to keep up with the shifting tax rates, tax bands and allowances, so here is a guide for a private limited company owner to survive the 2019/2020 tax year.
7 min read
What is a UK Company Registration Number?
CRN is an important and unique way to identify your company as a legal entity. Also known as a business registration number, UK company number or a registered company number, you’ll find that the most common abbreviation used is “CRN”.
3 min read
P11D Form: All You Need to Know If You End up Googling It
The P11D form is a part of the UK payroll system that covers the benefits an employee gets. How and when to fill in the form, what the deadlines are and how to avoid any fines — Osome is here to guide you through all of it.
4 min read
Tax & PAYE Reference Numbers: Don’t Let These Codes Confuse You
Your company has several numbers and codes that go on official documents. Different HMRC departments issue them to identify your company. Let’s figure out which one means what.
3 min read
P60 Form: What Is It and How to Deal with It?
The P60 form is a part of the UK payroll system that features tax payments and National Insurance contributions of a certain employee. We look deeper into the nature of the document.
4 min read
How to use Companies House Services, aka Companies House beta
Companies House is an online service to check all data about businesses registered in the UK. So, let’s find out how many companies Richard Branson directs and what is the P&L of Tiffany & Co.
5 min read
What Investors Want to Hear At Your Pitch
Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.
9 min read
2,000 Osome Clients
It took us 15 months to grow the first 1,000 clients. Now, only six months later, another 1,000 business owners joined us. Thank you for trusting Osome!
1 min read
Osome Attracts $2 m Investment To Develop And Expand
The funding will support new product development and reaching new markets, including Hong Kong and Australia
2 min read
1,000 Osome Clients: The Osome community is growing
Today we celebrate our first 1,000 clients. Thank you for choosing us to be your guide in Singapore Business Administration.
1 min read
Want to run your business smarter?
Osome Newsletter can help
We write about saving money and building a feasible business, invite real entrepreneurs to share experience — and sometimes retell really cool business books.