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Blog

Blog

The Accountants for Growth

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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St Basil's Walk 2017

St Basil's Walk 2017
On Saturday 17th June, the James, Stanley & Co team of five which was made up of Andrew, Chandni, Dawn , Devaney and our loyal walker from St Peter’s Church, Andy Batch, set out from Cirencester College on a 14 mile walk (which turned out to be nearer 17 miles) for the St Basil’s charity.
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Small Company Filing Options

Small Company Filing Options
Recent changes in company law have removed the option for small companies to file abbreviated accounts. Furthermore the accounts presentation and disclosure requirements have changed also and these have been embodied in FRS 102 Section 1A.
Small and medium size companies have got used to filing abbreviated accounts for a number of years however these have been abolished for accounting periods commencing on or after 1 January 2016.
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A Tax on Christmas!?

A Tax on Christmas!?
What will the taxman let us spend on Christmas parties and gifts this year? 
We are regularly asked what can I spend on my team and clients as a ‘thank you’ each Christmas and it is not an easy question to answer in a sentence. Let’s look at the allowable costs and we will start with staff parties:-
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An Office Jingle?

An Office Jingle?
We thought this week that we would share a case study with you all regarding ABBA Limited and the company’s owner and director, Fernando.
 
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Mortgage Applications- How Much do I Earn?

Mortgage Applications- How Much do I Earn?
If you are self-employed when applying for a mortgage, you’re often asked to produce proof of your earnings for the last 3 years. The easiest way of getting that information has always been to request it from H M Revenue & Customs. The document produced by HMRC (an SA302) summarises your Self-Assessment Tax Return. 
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Automatic Enrolment for Micro-Employers

Automatic Enrolment for Micro-Employers
A significant number of micro employers still remain unaware of their Auto Enrolment responsibilities despite everything that The Pensions Regulator (TPR) are doing to make them aware of their obligations in good time. 
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Tax Impact of The Finance Bill 2016

Tax Impact of The Finance Bill 2016
The 2016 Finance Bill brought in sweeping changes to the way in which dividend income will be taxed and also took away various reliefs which tax payers could previously offset against rental income. 
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Replacing the Annual Return

Replacing the Annual Return

With effect from 30 June 2016 the confirmation statement has replaced the annual return.
 

The idea behind the confirmation statement is that once a year, you will be required to review the information that is held about your company at Companies House and confirm that it remains accurate.

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Grant Funding for SMEs

Much of the grant funding that was sourced through the government was culled overnight at the back end of 2015 with little or no warning. This left SMEs who had started making funding applications in a difficult position and many had to curtail their expansion plans.
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Cloud Accounting - Part 2

Cloud Accounting - Part 2
Following the previous blog on cloud accounting, this blog shares three options we provide that fits the needs of every type of business. To help you identify the best option for your business here is a quick overview.
 
Total Accounting Solution
 
This is the best option for ambitious business owners who want comprehensive support and advice to help them build a truly successful business, maximise their income and wealth, and minimise their tax bills. We drill down to the fine detail of what figures really drive and impact your business including;
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Cloud Accounting

Cloud Accounting
Let’s face it, most people see accounts as a necessary evil and they play little part in helping business owners make better decisions. However they are a necessity in order to comply with the law and tax authorities, so if we have to do them we may as well do them properly and in a way that adds benefit to the business.

We can make accounts a very important management tool that reports in real time the financial performance of your business. We do this via our cloud accounting solution where you can choose from a number of software solutions and support packages that best suit your business.
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2016/7 Tax Year – Part 2:Dividend Tax Changes

2016/7 Tax Year – Part 2:Dividend Tax Changes
When reviewing the recent Budget, one of the most fundamental changes that came into effect from 6 April 2016 were the changes to how dividends are taxed.

If we first look prior to the 2016/7 tax year, one of the greatest attractions in receiving dividends for company shareholders was the 10% tax credit, therefore resulting in no personal tax to be paid for Basic Rate Band individuals.

From April 2016 the government has abolished this dividend tax credit and in its place introduced a new dividend tax allowance of £5,000 a year.

But how does this impact your tax liabilities?
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