In a recent meeting I asked my client whether he had considered IR35 as a lot of the work carried out was for one customer. While an IR35 proof contract may appear to offer a degree of security it needs to represent what actually happens in reality. I asked a little about the working practices read more
For sole traders very little needs to be entered on a sales invoice apart from what it is for and the amount, but more is needed for a VAT registered limited company. read more
A prospective client asked me the difference between an LLP and a Limited company (Ltd), and what were the pros and cons of each. Perhaps the most important similarity between the two is that they have limited liability to the members and shareholders respectively.
There are many reasons why you might want to change a limited company year end and it is possible to do so whether:
- the trade is seasonal and you do not want year end in your busiest period read more
If you are a company director and are paying yourself a low salary and topped up with dividends allow read on. Up to 5 April 2013 you are probably paying yourself £620 per month, this is greater than the NI Lower Earnings Limit at which you build up state entitlements but below the Secondary Threshold at which point the employer starts paying read more
A number of startup clients have asked for deadlines of when they need to complete their records and file returns and I have produced a spreadsheet which summarises these for them but a little explanation may be of assistance read more
The government is trying to encourage people back to work, but there are some current topical issues to consider when you have children: read more
With company cars becoming increasingly targeted by the government these are becoming less of a benefit except to higher mileage business users. For users who may need a van or the load space that is would provide this may well be a viable option read more
Most of our clients complete their annual return online using this simple guide. With the increasing volumes of companies registered at Companies House, it makes sense that any data which is held on the record can be copied from year to year with changes rather than recreating the information every year from scratch and that being updated manually or by Optical Character Recognition at Companies House. The process is fairly straightforward for anyone used to online shopping. read more
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