Scaling Up

 Increasing the scale of a business is easier said than done. If your business objective is to scale up, you need to consider the people aspects, strategy and financials.  People make the firm People determine a company’s success, and hiring the right people is critical. Hiring a team of great people will help to solve most of the problems the … Continue reading

Posted in Accountancy | Leave a comment

WEARABLE TECHNOLOGY

Wearable technology is one of the biggest trends in IT and tech at the moment. The consumer market has embraced wearables such as smart watches and virtual reality headsets. However most businesses are still developing their strategies for making the most of the wearable technology trend. Over Christmas I had the joy’s of watching Nan have a go on my … Continue reading

Posted in Accountancy | Leave a comment

MORE ON THE NEW HIGHER VAT FLAT RATE PERCENTAGE

As covered in the Autumn Statement newsletter a new VAT flat rate of 16.5% applies from 1 April 2017 for “limited cost traders”. This is being introduced as HMRC believe that the current system is being abused by some businesses providing their labour but who have very few costs. The flat rate scheme was originally introduced as a simplification measure … Continue reading

Posted in Accountancy | Leave a comment

PASSING ON THE FAMILY HOME

New inheritance tax rules for passing on the family home start on 6 April 2017 and many people have a New Year’s Resolution to either make a Will or update their Wills. This new relief should be taken into consideration when drafting your Will and we can work with your solicitor to make sure it is tax efficient. From 6 … Continue reading

Posted in Accountancy | Leave a comment

Rent out a room in your home? Grab £7.5k from April 2017

HMRC have also said that we can grab another tax free allowance from April 2017! Remember that there is a further £7,500 a year allowance deducted from rent received from lodgers where you rent out part of your main residence. This allowance increased from £4,250 from 6 April 2016 so that now the first £7,500 rent from lodgers is tax free. … Continue reading

Posted in Accountancy | Leave a comment

More Tax Free Allowances from 6 April 2017

In addition to the current £5,000 tax free dividend allowance and the personal savings allowance of up to £1,000 there will be two further tax free allowances starting from 6 April 2017. These will be a new £1,000 tax free allowance for self-employed income and a £1,000 rental income allowance. These new allowances mean that individuals doing a small amount … Continue reading

Posted in HMRC, Tax | Leave a comment

Fancy some free advice for your business? My good friend from Natwest is hosting the below 4 workshops over October and November – in Histon. THEY ARE FREE!!!     The events are as follow (with their Eventbrite link).   Business Planning For Growth- 20th October 2016 11:00 – 13:00. Many businesses are daunted by the prospect of writing a business plan, … Continue reading

Posted in Banking, Business Advice | Leave a comment

Minimum Wage increase – October 2016

Do you have apprentices? Do you pay Minimum wage? Here are the increases in pay rates that you need to be aware of from October 2016; Current level per hour From April 2016 From October 2016 – April 2017 Increase Adult rate (21+) NLW (25+) £7.20 £7.20 n/a Adult Rate (21-24) £6.70 – £6.95 3.70% YDR (18-20) £5.30 £5.55 4.70% … Continue reading

Posted in Accountancy | Leave a comment

VAT ON INCORPORATION OF A BUSINESS

Despite the new dividend rules and the possible introduction of a new “look-though” entity many unincorporated businesses are still considering trading as a limited company. It is also important to consider the VAT implications of incorporation. Where the new company carries on the same kind of business as the predecessor, the transfer of the trade and assets will normally be … Continue reading

Posted in Accountancy, HMRC, VAT | Leave a comment

VAT registered? Read this…. #Brexit

BREXIT – WHAT ARE THE TAX IMPLICATIONS? One of the main reasons that individuals voted “leave” was to restore fiscal sovereignty to the UK so that we are able to set our own laws, in particular tax law, without interference from Brussels. Significant tax changes currently require “State Aid” approval and we have seen many recent tax changes forced on … Continue reading

Posted in Accountancy | Leave a comment