Earlier in the year, HMRC announced that no new childcare voucher scheme could be set up after the 5 October 2018. Octobers deadline a six month extension from the original deadline of 5 April 2018. Employers can continue administrating childcare voucher schemes they...read more
When we think of designing something, most of us tend to think of think of a tangible product, however, the thought process for design can be applied to business. Here are the 4 steps of design thinking: Define the problem Often when we are faced with problems at the...read more
In 2016 the government consulted on a proposed abolition of Class 2 National Insurance contributions (NICs) for the self-employed. This flat rate contribution, currently £2.95 a week is payable by the self-employed in addition to Class 4 contributions based on the...read more
Branding is one of the most important aspects of any business. If you get your brand right your business will have a competitive edge. What is branding? Branding is a way of defining your business, both internally and externally. Your team need to know what your...read more
Over the last few years, we have seen house prices soar. Depending on which side you’re on, this was either a shock or a pleasant surprise. Generations X and those before have witnessed the value of the properties double even triple. So how can these generation tax...read more
Most businesses will have a contingency plan for the loss of data and information on servers and systems. But what if 'knowledge' walks out the door? It is worth making sure knowledge is shared and documented, here are 3 things to take into consideration: ...read more
Who needs to complete the self-assessment? You will need to complete self-assessment if: Your self-employment income is more than £1,000 You've received more than £2,500 from untaxed income such as commission or tips Yours (or your partners) income was over £50,000...read more
A business plan does not have to be large 20 page document with tabs and appendices. Your business plan could be a few objectives jotted down somewhere, now this will not be enough to take into investors office but it is a starting point. What are the benefits of...read more
For most taxpayers the annual tax-free pensions allowance is £40,000. In 2016 the tapered allowance regulation was introduced, lowering this amount for high earners. Who does tapered annual allowance apply to? This regulation applies to individuals with a threshold...read more
In business, you are regularly presented with situations where you need to negotiate. The situations could be informal day to day interactions or formal client/supplier interactions. Effective negotiation requires a combination of interpersonal and communication...read more
HMRC have recently updated VAT notice 726, a regulation that strongly advises traders to carry out due diligence on their supply charge. Meaning, in short, you could be held liable for unpaid VAT of another VAT registered business when buy/sell specified goods....read more
According to Forth with Life 85% of adults regularly experience stress. The main cause of stress for 25-54 years is work, so to put into to perspective 17 out of 20 of your employees are likely to feel stressed on a regular basis. Here are 5 things you can do to help...read more
What is the brought forwards relief? HMRC have updated their guidance for carrying forward your unused pension saving allowance. For most UK tax payers, the maximum tax-free amount that can be put into a pension per tax year is £40,000. The tax-free amount can be...read more
The Definition The definition of mindfulness is “psychological process of bringing one’s attention to experiences occurring in the present moment”. Motivational speakers often run seminars around the topic of mindfulness for self-improvement but it can also be used in...read more
HMRC are urging UK to tax payers to come forward and declare any profits earned from offshore assets. Overseas profits may be from undeclared holiday homes or oversea properties. The deadline to declare the income is 30 September 2018 under the ‘Requirement to...read more
Click here if you need help creating a digital marketing strategy. Ever wonder how successful your online marketing efforts are? Here are 4 ways you can monitor the success of your online marketing. Track website visits One of your online marketing goals is to drive...read more
Last month we posted a blog about the deadline HMRC set for disguised remuneration schemes. Individuals are expected to provide all the relevant information to HMRC by 30 September 2018, and settle of preferential terms become the loan charge arises on the 5 April...read more
There has been an apparent shift from traditional to online marketing. Online marketing includes your website, marketing emails and search engine optimisation (SEO). Do you utilise all 3? I assume you have a website, you're likely to post blogs and see the value in...read more
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New Business Progress Kit 2018
The Financial, Tax and Accounting Considerations of Starting a New Business
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