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The Accountants for Growth

Pension auto-enrolment II

Pension auto-enrolment II

What will auto-enrolment cost your company?


The pension contributions will be phased in over time as shown in the table below and full contributions will have to be paid from 1 October 2018.

 

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Pension auto-enrolment and your business

Pension auto-enrolment and your business

Auto-enrolment will apply to all business who employ staff and will have significant implications in terms of responsibilities and commitments facing those businesses. 


It commenced in October 2012 and all organisations must have enroled their staff by April 2017 and all new employees by February 2018.  

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Annual staff parties

Annual staff parties

Businesses often get confused over the tax free amount they can spend on employees at an annual party.


Currently, £150 (including VAT) can be spent in respect of each employee at the annual party. If, however, the expenditure exceeds the £150 allowance then the whole amount becomes taxable, not just the excess over £150 and has to be reported on the business’ Forms P11D. The allowance covers all costs associated with the event, such as taxis home or accommodation costs. To be applicable the event has to be available to all staff members.

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The Cost of Waste

The Cost of Waste

Dealing with waste can result in a major improvement in a business's financial performance and is often overlooked. Here are a few points about waste to consider:-


Businesses rarely assess how much waste is costing their business-consider the cost of treatment energy and labour incurred in producing the wasted product and then think of the cost of disposal. In reality the actual cost of waste is as much as 14 times the disposal costs. 

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The Benefits of Facebook

The Benefits of Facebook


Many SME's find it difficult to understand the benefits of creating a Facebook page for their businesses; they often don't know where to begin and find the overall task daunting and simply a waste of time.

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How to treat website development costs in accounts

How to treat website development costs in accounts

The accounting treatment for the costs of building and maintaining your website depend on how you intend on using it.


If it is going to act as a brochure website where customers use the site to find out about your business and products but do not buy directly from the site, then you should put the development costs through the profit and loss account as an expense. Clients like this treatment as it reduces their taxable profits and therefore the business’ tax bills.

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Simplified expense rules for small businesses

Simplified expense rules for small businesses

Small unincorporated businesses (partnerships and sole traders) can now claim a flat rate deduction in respect of 'use of home for business costs' as an alternative to recording the actual expenditure and then apportioning the business element.

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What to do with overdrawn directors’ loan accounts

What to do with overdrawn directors’ loan accounts

We see many cases where directors draw monies from their companies with the intention of declaring a dividend at the end of the year, only to find that, due to the recession there are insufficient profits to declare a dividend and this leaves them with an overdrawn loan account.

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Reporting Real Time Information to HMRC

Reporting Real Time Information to HMRC

 If you are an employer you should be reporting PAYE information to HM Revenue & Customs in real time.


This means that employers must send details to HMRC each time an employee is paid, at the time they are paid. Employers must also use payroll software to send this information electronically as part of their routine payroll process

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Grant Funding for SMEs in West Midlands

Grant Funding for SMEs in West Midlands

The Birmingham Post Growth Fund has just secured £5 million to invest in small and medium sized enterprises in the West Midlands. The objective is to create at least 250 new jobs and encourage skill building among businesses to maximise their investment.

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Local cricket clubs stumped by HMRC

Local cricket clubs stumped by HMRC

The Telegraph has recently highlighted the plight of minor league cricket clubs that have fallen under the radar of HM Revenue & Customs who have carried out several recent tax investigations.

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Free Tax Clinic

Free Tax Clinic

To better serve the community, James, Stanley & Co. Limited will be hosting a free tax clinic this Thursday, 13th of June from 11-1. This is a fantastic opportunity for all businesses—big or small—to learn more about their accounts. Simply drop in during your lunch hour and ask any questions regarding your accounts, books, or business.

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The Importance of Networking

The Importance of Networking

What is networking?


It may sound like a simple concept, but how do YOU create real potential business leads from simply turning up to an event with numerous companies present, equipped with nothing apart from a bunch of business cards? In reality networking is a business skill, one acquired over time that demands far more intuition than the direct and superficial;

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Growth for your Business

Growth for your Business

Making it Happen!


Is our flagship, 12-month process designed to support you every step of the way as you take your business from where it is to where you want it to be. Modular in design, the Business Edge Making It Happen programme has three pillars to its support:

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Corporate Responsibility

Corporate Responsibility

Countries in the advanced world currently face a major dilemma – on the one hand governments find their purse strings tied as they struggle to overcome the worst economic recession since the 1930s and yet countries of the 3rd world still face deprivation and poverty on an enormous scale. Demands by voters for governments to give more aid to the third world seem to have little impact. According to Guardian sources, aid given by the UK government peaked in 2006 at $13 billion and by 2009 this had fallen back to $11.7 billion.

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Making Lives Better

Making Lives Better

James, Stanley & Co. Limited is part of a group called Accountants Changing the World. Our mission is to change people’s lives for the better through day-to-day tasks in our jobs: reducing clients’ worries or administrative burdens, creating more sustainable businesses, giving a student a career opportunity or donating to charity.

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The Benefits of Incorporating

The Benefits of Incorporating

Did you know that in certain circumstances sole traders and partnerships can save money on tax by incorporating their business?

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Critical illness and proactive tax planning

Critical illness and proactive tax planning

In a recession clients often look to make cost savings and one area they look to reduce spending is cancelling non-essential insurance or savings policies. Careful thought and professional advice should be taken before making the decision to cancel a policy.

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What is "hot"? New VAT legislation clarifies hot takeaway food

What is "hot"? New VAT legislation clarifies hot takeaway food

For many years the standard rate of VAT has been applicable to hot takeaway food. Problems have arisen over the interpretation of whether the food which is sold is indeed hot and therefore subject to VAT.


The legislation clarified this point by stating that if the food was sold with the intention of being eaten as ‘hot’ then standard rate VAT was applicable. If however the food was simply being kept warm to make it appear more attractive or to smell better, then sales of such items could be zero rated. Obviously this left scope for retailers to interprete the legislation to their favour.

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