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Welcome to the New Tax Year 2017-2018

Congratulations! You have successfully made it through the financial year 2016/2017. This is no easy feat, so make sure you take the time to celebrate your successes.  And as soon as you have finished celebrating, we are here to make sure that this year is even more successful than the last.

In the world of finance the rules are ever changing. So, to start the new year off, we wanted to …

How flat rate VAT is changing for companies from April 2017

The Flat Rate Scheme (FRS) is a simplification measure for small traders with an annual turnover of less than £150,000. Users issue VAT invoices to business customers as normal, but only account for VAT at a flat rate percentage of turnover. The rate is calculated depending on the business sector but is normally significantly less than the 20% standard rate of VAT. The percentage includes an allowance for input tax.

Legislation …

Changes to HMRC IR35 regulations 2017

Big news on the horizon, that many of you need to prepare yourself for. With effect from 6 April 2017 HMRC are now introducing changes to IR35 legislation.

What is IR35

IR35 is also known as ‘intermediaries legislation’. In layman’s terms, it’s legislation that affect the tax and NI if someone is contracted to work for a public sector client (the Council) through an intermediary. It also relates to people working in …

R&D Tax Relief – Should you be claiming?

What is R&D Tax Relief

R&D stands for Research and Development. Why would you get tax relief on this? Well, if you’ve invested in a project that has helped develop your business, HMRC state that you may be eligible for a tax rebate.

How is this received?

It is a corporation tax relief. Therefore, it usually reduces your company’s tax bill. However, if you are not making any profit, then it will be …

Directors Loans – What are they?

As a director, you may be in a position where you want/need to extract funds from the business. It is not dictated to you as to what you can use these funds on, but some of the more common reasons are for big purchases such as investing in another business or perhaps purchasing a home. These monies can be taken out of the company as salary or dividends, however this …

Know when to ask for help

One of the most exciting moments for small business owners (and there are a good few to choose from!) is when you realise that you’ve turned a profit for the first time. It probably wasn’t easy, and it’s likely taken a lot of knocks to get there, but you’ve done it!

A So why not sit back and relax and hope that your business ticks along year after year?

Well, …

What do you want?

– What do you want?

– More time, money & less stress!

– When do you want it?

– Now!

A simple question, it’s one which all business owners should try and answer before making any changes to their business. The new year is a perfect time to look back on the last 12 months and decide on whether anything needs to change to give you the life that you …

6 tips for a flying start to the New Year

Think A back to how you usually feel in February – the party season is a distant memory, commuter faces are puckered with hatred, a despondent sort of lethargy sets in as we wait, passively, for resolutions to fall by the wayside. A sad, soggy mess of a month if ever there was one.

But how much more sense would it make for the start of a new year to be …

4 Tips on how to overcome Information Overload

Never before have we had so many options and choices available to us, if you want a new laptop, to learn a new skill or take your clients for a meal then the internet is probably one of the first places that you’ll go to in order to do a bit of research.  However having all these options available to you in a few clicks and that are supposedly …

Are you having fun in your business?

Are you having fun in your business or are you so bogged down running the day to day stuff that it feels more like a chore than a hurrah?!

Business should be fun and especially when it’s yours.

Sure, running your own business isn’t always a blast, there are a lot of challenges but at least you’re the one who gets to call the shots so you may as well enjoy …

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