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VAT Fact Sheet Download

Posted by Tim on May 30, 2017
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Category : Uncategorized

Value Added Tax (VAT)

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Small Business Budget Highlights (or low lights!) The Chancellor of the Exchequer has delivered the final Spring Budget. This is not the first time this has been attempted however. Twenty four years ago, Norman Lamont, made the same announcement only to be sacked ten weeks later! Listening to Philip Hammond, at times one did wonder if

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Proposed Changes to VAT Flat Rate Scheme Currently under the flat rate scheme a business chooses the appropriate flat rate percentage according to its’ sector. From 1 April 2017, businesses using the Flat Rate Scheme or joining the scheme will need to decide whether they are a “limited cost trader”. Businesses that meet the definition of

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Why Cloud Accounting is Good for Business

Posted by Tim on January 17, 2017
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Category : Uncategorized

Why Cloud Accounting is Good for Business If you want your business to work smarter and faster, cloud accounting software is a wise investment. Working in the cloud will give you a better overview of your finances, and improve collaboration with your team. Accounting software shouldn’t be a chore to use Small business accounting software that’s

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Tim Hammond member of Sutton-Coldfield BoB Club You may be aware of the advantages of business networking or you may not have discovered the power of networking yet. Business over Breakfast, known as BoB Clubs, helps its members work together informally to boost business activity, develop synergies and exchange referrals. I would like to invite you

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Gifts and Tax at Christmas Time Another festive question from our clients is; “are gifts tax deductible? What about vouchers and bonuses? Business gifts to clients are only allowable as a tax deduction if the total cost to one individual per year is less than £50. Gifts to staff: In some cases HMRC will consider a

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The Account Down to Christmas With a month ’til Christmas and the festive season upon us, a lot of clients are asking us ‘how much can I spend on a festive party?’. The answer is simple – you can spend up to £150 per employee plus £150 per guest on a festive night out. Are there

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How much does it cost to employ an amateur?

Posted by Tim on October 11, 2016
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Category : Cloud Accounting, Tax, Xero

If you think Professionals are expensive, you need to see how much amateurs will cost you. Mr S Yardley of SRS did and see the results below – SRS was trading as a sole trader and had no reason to believe there was anything wrong with his existing Accounting service provider. When I met Mr

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Director loan account, what is it? If you are running your business through a limited company, it is important that you understand the concept of director’s loan account. A company director would normally pay him/herself a salary. If the director also owns the business, he/she is likely to pay a minimal salary plus dividends from

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Advice on Starting A New Business

Posted by Tim on September 03, 2016
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Category : Uncategorized

Starting A New Business Anyone who has ever set up their own business will tell you about the excitement, the sense of achievement and the feelings of self-worth that you experience when you make that first sale or win that first client. While setting up a new business can be an extremely exciting time, there

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