22.06.2010
Tax Advice
We have been complimented on the updates posted on Twitter live during the Budget and hope to continue this by summarising the main points of interest to small business owners and individuals in the street.
The Chancellor George Osborne started by painting the picture of the poor state of the economy and among various political comments stated that due a cautious approach fiscal goals would be met one year earlier than expected in 2014. The inflation target will remain at 2% which has already been exceeded, this will peak at 2.7% later in the year and then reduce. In terms of the approach to the deficit a lower spending rather than higher tax route is being taken, read more
21.04.2010
Business Advice
Clients are always telling me that they do not understand their accounts. Clearly they know their business, and how to price to make money so it is only a small step to actually understanding the end of year accounts:
- The very back page or two is the detailed profit and loss account which as the name implies shows the profitability of the business after expenses but before tax. The first figure will be sales or turnover which is the income for the year based on sales actually completed, but not necessarily paid for. read more
09.04.2010
Tax Advice
With the passing of the old tax year we are presented with returns to file and tax to pay. Some memorable dates are listed below, with a few more interesting ones too:
- 19 April – PAYE must be paid for the period up to 5 April (usually just the March payroll) – and monthly on 19th for each subsequent month read more
01.04.2010
Business Advice
Whether you have just started up a business or have been going a number of years there are a few factors which will influence what year end you choose:
- Date registered at Companies House: The default date chosen is the end of the month one year from incorporation, so if you incorporated on 4 February 2010, your year end would automatically be 28 February 2011. You can however change this.
- If you did not start trading through the business until May, you may want to change the year end to April so it represents a full years trade read more
12.03.2010
Tax Advice
I have just signed up a client who has a limited company which he set up over a year ago although he did not start trading until the current tax tax. From previous posts you will be aware that one of my recommendations for the biggest tax saving opportunities read more
04.03.2010
Business Advice, Tax Advice
As new research from business software and services provider Sage shows that
accountants are now seen as the most trusted source of business advice
for UK firms, we consider why you should have an accountant and how to choose one.
A qualified accountant is an experienced professional read more
29.01.2010
Business Advice, Tax Advice
My finance presentation to Mumpreneurs, in association with Buss Murton solicitors, highlighted the interest there is in the possibility of going limited. While many small businesses have started off as sole traders they have evolved and grown to the extent that they should be considering whether this is the best structure for them. I have recently been approached by a prospective client turning over £500k+ read more
) //3 weeks lare already!