News has just broken today on the new powers granted to H.M. Revenue & Customs to collect overdue tax by dipping directly into taxpayers’ bank accounts.
The Revenue has assured there are safe guards to protect against possible errors, for instance, the Treasurer has stated that HMRC will only to take the money after four ignored requests, if the amount is more than £1000 and if £5000 remain in the bank after the transaction is made.*
April 26th 2014 saw significant changes in the way lenders assess mortgage affordability with the implementation of the FCA’s (Financial Conduct Authority) Mortgage Market Review (MMR). This review was undertaken as a result of the issues in the market that led to the Financial Crisis experienced in 2008. The significant changes which are being implemented, will see an enhanced focus now being placed on “Responsible Lending”. This will require the mortgage lenders to assess far more fully, the individual mortgage applicant(s) ability to maintain their mortgage repayments both now and, most importantly, in the future. As such it will be incumbent upon Lenders to assess that prospective mortgage borrowers can maintain their mortgage repayments even in the event of increases in interest rates and/or general living costs.
If you go on holiday for 16 weeks from this weekend what state will your business be in when you return?
Would it be in a right state? i.e. turn into a bag of spanners...
OR would it be flourishing? i.e. turn into a bed of roses that you can be proud of?
And which type of business would you prefer?
Research shows that people with up to date written goals are as much as 100% more successful than people who do not have up to date written goals.
So it is vitally important that business owners think about and articulate their personal and business goals.
Once you have identified your goals think about the implications of what you are doing – and what you should be doing.
HMT and HMRC have just released their policy paper on the G20 and OECD Action Plan to tackle Base Erosion and Profit Shifting (‘BEPS’). In it, the government strongly endorses the BEPS initiative for “creating a fair and balanced set of international rules for both countries and companies.”
Please note there is a VAT scam happening at the moment which has hit thousands of businesses. The phishing email claiming to be from Santander Bank advises that a VAT payment of £483.38 has been made.
There is download attached, which if opened will transfer a virus onto the computer.
If anyone mentions receiving this email please tell them it is a scam!
Many businesses require management accounts to measure and improve company performance. With this pro-active approach we try and add value in order to help you develop your business. Here are a few examples of what each business owner should ask themselves:-
There are two elements in what I’m titling the “showcase” section of LinkedIn
The first part is the Summary.
Your summary is a great space to introduce promotions and any exciting projects you have to offer to potential clients. Since LinkedIn includes summaries in their searches, it’s important to make sure you have the right keywords for your industry.
This Lent season (5 March- 17 April 2014) James, Stanley & Co Ltd. will be fundraising for Type One Mission Ltd, a charitable organisation raising funds for diabetes research.
Your headline, much like you headshot, is the first thing people are going to see when you're being searched and so, it deserves the right amount of attention.
LinkedIn will automatically make your most current or present job as your headline. It’s important to make your own unique headline when creating your profile as it provides an opportunity to establish your industry, value, and other specific keywords needed so that the right people find you.
Your LinkedIn photo is essential to a completed profile. This will give people a face to a name, making you appear more personable and professional.
Since this is the first time a contact or future client will see you, you want to provide the best first impression as possible.
LinkedIn is a professional networking website; its purpose is for professionals to connect and recommend people. Essentially, it provides an easier platform to keep up with your contacts, instead of shuffling through a pile of business cards, you can use your keyboard. LinkedIn is also a great place to meet other professionals in your industry; joining groups or being introduced to contacts by people in your immediate circle are just two of the many options available to reach out and build a stronger network.
Twitterverse Explained
Twitter is a fantastic social media platform for microblogging (very small posts) and real time communication (very fast posts). It forces users to be concise and utilise elements like shortened URLs and hashtags with its 140 character cap.
The team at James, Stanley & Co Ltd, through our association with AVN, appreciate the power behind learning about business and the tools for success. We recognise that our clients’ businesses will become more successful if some of the region’s leading entrepreneurs give up their time to help them drive their business forward.
Tony Dobinson, managing director of Telephone Europe Limited has just called us to say that his company has just received an email claiming to be from Intuit informing him that he was in arrears with his Quickbooks subscriptions.
This email is spam and has viruses attached – if you receive a similar email we advise you not to open it.
The government has announced that from April 2015 married couples and civil partners may be eligible for a new Transferrable Tax Allowance. This Allowance will enable spouses and civil partners to transfer a fixed amount of their personal allowance to their partner.
It's that time of year again! Are you planning your company's annual Christmas party? Wondering where to host it and what should be featured at the bar and on the menu? You may have a limit/budget of what to spend but have you ever thought you could end up paying more in tax?
