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The Accountants for Growth

Making tax digital – Don’t be caught out on 1 April 2019

Making tax digital – Don’t be caught out on 1 April 2019
Small businesses with annual sales of over £85,000 will be required to file their VAT returns digitally for all VAT periods starting on or after 1 April 2019.
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Can I Gift Aid?

Can I Gift Aid?
In recent years the government have made several tax changes that have taken individuals out of the tax system
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VAT - Benefits of the Flat Rate Scheme

VAT - Benefits of the Flat Rate Scheme
The flat rate scheme is a way of making your accounting and VAT records easier to keep, by allowing you to apply a fixed percentage to your gross sales to calculate the VAT due. The percentage that you apply depends on the sector which your business falls into.
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What's Your Plan?

What's Your Plan?
All business should have a business plan, from the one-man band to the successful limited company. Once written, the plan should be referred to regularly and used as a tool to assess business performance. 
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Company & Accounting Records

Company & Accounting Records
You must keep records about the company itself, financial and accounting records. HM Revenue and Customs may check your records to make sure you’re paying the right amount of tax. 
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Business Clarity - Where are we Going?

Business Clarity - Where are we Going?
Mark and Chandni have recently attended the three day AVN Masterclass course and have come back enthused to get started on the information they have learnt.
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Make the Best of Old Stock

Make the Best of Old Stock
Old and slow moving stock can be a real problem for a business. It can tie up cash in the business and take up floor and window space that would be better employed showing off some new fresh items.
 
It makes sense therefore to look at ways of moving this stock on and turn it into cash which can then be used to buy faster selling lines.
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Overseas Earnings - Working Offshore on Yachts

Overseas Earnings - Working Offshore on Yachts
Well the tax return season is over for another year and it always throws up some interesting cases.
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New Year, New Business Plan?

New Year, New Business Plan?
Many business owners use the Christmas break to make brave new plans for their life and their business only to realise by the end of January that they have failed to live up to their plans.
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An Advent Message

An Advent Message
I am reliably informed that if you are currently seventy years of age you will have spent about three of those years just waiting (in the shops, at the doctor’s, for a train, for lunch to arrive)! And those who drive may feel that they have waited far longer than that!
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National Living Wage - Are You Compliant?

National Living Wage - Are You Compliant?
There is no doubt that the authorities are stepping up their game against businesses who are not paying their staff the National Living Wage. Recently 50 businesses in the hospitality sector, including two fish and chip shops, have been targeted by H.M. Revenue & Customs resulting in the businesses being censored and fined.
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Should I give to charity personally or through my company?

Should I give to charity personally or through my company?
Firstly, the most important strategy is that, as business people, we all give to charity in order to make the world a better place. Governments are facing so much financial pressure that aid is probably not top of their agendas, however if we all do our bit, we can together make a difference.
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You probably won’t like the first half of this message!

You probably won’t like the first half of this message!
A consensus is now emerging that businesses like yours and ours can achieve so much more. And that is why we have decided to work with Richard Branson and Bill Gates in doing something very special. 
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Dividend Impact Review

Dividend Impact Review
The 2017 Spring Budget brought the tax rules in respect of dividends under the spotlight yet again. The Budget included a further increase in tax for anyone receiving dividends. This announcement combined with recent dividend changes could have a significant impact on many, whether you own shares in your own company, you hold shares as investments, or even if you run your own self employed business.
 
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How to get an extra £2.2 million in your business and personal bank accounts

How to get an extra £2.2 million in your business and personal bank accounts
We will be hosting the “How to get an extra £2.2 million in your business and personal bank accounts” seminar at Walmley Golf Club on 18 October 2017. The seminar has been designed to help local entrepreneurs make the West Midlands economy stronger, and is presented by Amazon 5 star rated business author and former UK Entrepreneur of the Year, Steve Pipe.
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Dividend Waivers

Dividend Waivers
H.M. Revenue & Customs are focussing more and more on close companies and are looking in detail into what constitutes a settlement when share waivers are used.
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P11d Reporting: Payroll your Benefits

P11d Reporting: Payroll your Benefits
All business by now will have completed and filed with HM Revenue & Customs their Forms P11D and some businesses find this to be costly in terms of time and effort.

Is there a better way of dealing with this?
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Making tax Digital: Update

Making tax Digital: Update
Bowing to pressure, the Government have delayed the introduction of Making Tax Digital by two years to 2020.
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Preparing accounts on a cash or accrual basis – which will you choose?

Preparing accounts on a cash or accrual basis – which will you choose?
From 6 April 2017, unincorporated businesses with sales of less than £150,000 can choose to prepare their accounts on a cash basis. In this way, they will only pay tax on income they have actually received and will only be able to claim on payments they have made.
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Simplified Related-Party Disclosures under FRS102:1A

Simplified Related-Party Disclosures under FRS102:1A
The jury is out as to whether the introduction of FRS 102 improves the reported information in financial statements or not. Many commentators believe that the reduction in the disclosed information required under FRS 102 reduces the benefit of financial statements and the information they provide to the reader.
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