Blog

My Bookkeeping Online Blog

By Tim Haggard

The My Bookkeeping Online blog is written by founder, Tim Haggard. Topics range from VAT, working from home, funding, bookkeeping and employment, but are mainly focused on small businesses. The blog aims to talk about the issues small business owners face in specific industries. Do get in touch if you'd like Tim's opinion on your query.

Blog Archives

Posts in category Employees:

Steps to Setting up a Business at Home: Commercial

26/10/09 (1:40 p.m.)

1. Think of a business name. If you need them, make sure that a suitable domain name is available (for emails and website). If you are struggling to find a name, think about using your own name – credibility is essential and your willingness to use your name will reassure potential customers. Alternatively, stick with the simplest explanation of your business that you can find. “My Bookkeeping Online” is a good example of this.

2. ...

Categories:Bookkeeping, Employees, Expenses, Financial, Marketing, Running a Business from Home, Small Business Help, Start ups, Working From Home
Tags:business, home, commercial

Retirement Age

12/10/09 (6 a.m.)

Last week, the high court stood by the current law regarding employee rights when an employee reaches retirement age. As we know it, the law states that an employee retires at the age of 65 without further financial burden on the employer. This was challenged – the suggestion being, I think, that some sort of redundancy payment be made.

Small business owners will view the ruling with a sigh of relief.

Categories:Accountants, Employees, Financial, Industry News, Small Business Help
Tags:retirement, employees

Rewarding Key Staff with Share Options

07/10/09 (8 a.m.)

As a business owner you’ll know how important keeping and rewarded key employees is. I have found share options a great route to incentivising mine. Here’s how...

Share options are such a good, well intentioned idea. They reward and incentivise key staff by passing on shares or share options in the business. On the face of it, as a small business owner, it can be the perfect solution.

Unfortunately, the Government has made it a problematic from a legal and a tax perspective.

Categories:Employees, Financial, Running a Business from Home, Small Business Help, Start ups
Tags:shares, options, tax, government, LLP, staff, employees

Look after your Key Staff

29/09/09 (8 a.m.)

I was chatting recently with a friend who works for a small business and he mentioned that he is responsible for bringing in more than half of the revenue generated by the business. Over a couple of drinks, the conversation opened up, and my friend admitted that he felt under-valued by the business owner.

I asked: “Well what would happen if you left?”...

Categories:Employees
Tags:employees, staff, motivation, reward

Employees Verses Contractors

21/09/09 (9 a.m.)

Fortunately there are some very good employers out there – people who thrive on building teams and getting the most out of their staff.

For me – I know I am not the best employer. It is not that I am rude or offensive – very much the opposite I would hope. It is that I, like many entrepreneurs, am very absorbed in what I am doing – thus for me the business comes first, and that means everything else second.

Categories:Employees, Financial, Running a Business from Home, Small Business Help, Start ups
Tags:Staff, employees, employers