Your accountant and your mortgage
Accountants face the unenviable task of being asked on the one hand to minimise tax bills and on the other to show personal income at a high enough level for clients to secure a mortgage. For any business owner there has to be a balance made between the two and there...
Employers – childcare vouchers will save you tax
I have just had a very interesting meeting with a childcare voucher provider and there are definite savings to be made for both the employer and employee and there is very little administration from either perspective. Requirements There must be an employer, this...
Incorporate or not?
While there are undoubted benefits from incorporation whether the limited liability of the owners or the tax benefits a recent statistic brought me up short. While setting up a new company I looked at the stats of companies I have set up in the past 4+ years...
Companies, Children and benefits
The government is trying to encourage people back to work, but there are some current topical issues to consider when you have children: Child tax credits For lower income families tax credits are available based on your taxable income and for business owners most of...
Option for company to buy back its own shares
Certain businesses are required to have more shares issued than would normally be the case, for example a firm of financial advisers may have a capital requirement under the old FSA to have say £15,000 shares issued where a similar business would only have £100. This...
RTI Submission with Payroll Manager
A new tax year and more red tape as employers must now submit an RTI (Real Time Information) report before every payday. For weekly paid employees the first return is probably due this week and we have already trained one client in the process which in all honesty is...
Budget 2013 – what we already knew
It has been generally acknowledged that the Budget was a little underwhelming or a damp squib, there was very little for the SME market and actually most of the changes had already been released. These were For individuals The main change was the increase in the...
2013 Budget -what is in it for me
Despite a raucous Commons and the speaker saying that pantomime season is not for another 9 months there were not many noteworthy changes announced to elicit this reaction. The summary of the state of the economy was in brief: inflation target remains at 2%; OBR has...
Vans for business owners
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. While a...
Year end information for your accountant for Sage users
The details provided below are in response to requests from clients of AW Accounting in Gravesend for details of what to give your accountant at the year end for your taxes. This specifically relates to Sage but the principles are the same for all computer accounting...