The VAT registration threshold will remain at £85,000 for the next two years until April 2020. Businesses with sales of £85,000 in a 12 month period must become VAT registered unless their sales are exempt from VAT. But if you are VAT registered and your income falls below the VAT deregistration threshold of £83,000 you […]
Plan ahead to get the financial support you need
What is important to you when you are considering outsourcing your bookkeeping? Maybe you just need someone, anyone, just to organise all that paperwork which keeps appearing. Do they need to know what they are doing? Do they need experience? If you want to keep your finances on track you will need someone who can […]
Reminder of the key points of auto enrolment
With pension contributions rising from 6th April 2018 it seems like a good time to remind employers of the key points about auto enrolment. Pension Contribution Rates From 6th April 2018 pension contributions rise from 1% to 2% for employers and from 1% to 3% for employees. These contributions are taken from gross pay before […]
4 Ways to Streamline Small Business Operations
As you dive ever deeper into the complex world of small business operations, there are dozens of buzzwords that are being thrown at you as constantly as the fires that you need to put out every day. ‘Incentivise’. ‘Synergy’. ‘Bandwidth’. Enough! But here’s one you really do need to get your head around in a […]
The 5 Tasks Business Owners Should Delegate
In 1962, President John F. Kennedy famously declared that humankind chooses to go to the moon “not because it is easy but because it is hard”. But he may well have been orating about owning a business, because while going it alone into the exciting vacuum of entrepreneurialism is most certainly hard, it is also […]
Launching our Xero Drop In Service
Xero Drop In is our new one-to-one Xero training service. Xero is very popular for maintaining business accounts but how well is it working for you? The information you get out of Xero is only as good as the information you put in and if you are struggling to understand how to make a particular […]
How do you manage credit control?
Businesses receive payment from their customers in different ways. Shops and online retailers have the advantage of receiving payment when they make the sale and therefore mostly have no issues with customers not paying. The majority of businesses, however, raise sales invoices and have to wait some time before they receive payment for the goods […]
Cloud Accounting for your Business
More businesses are moving to cloud accounting software to keep a record of their sales, purchases and expenses. With Making Tax Digital for Businesses (MTDfB) just 12 months away it makes sense to get ready now and move your accounts to software that will be compliant with the new regulations. Cloud accounting software is user […]
More Employers Named and Shamed by HMRC
On 9 March 2018 HMRC released the names of employers who have paid their staff less than the minimum wage. They release this report quarterly and it is surprising how many businesses are on this list each quarter. This time there are 179 businesses who have underpaid their employees between £100 and £133,000. They don’t […]
Tax Rates for 2018-19
The new tax year starts on 6th April and with it comes changes to the tax rates and thresholds. Here is a quick round up of what this might mean for you. The new standard tax code will be 1185L giving a personal tax free allowance of £11,850 per year. That is £988 per month […]