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Quick Guide to some Accounting Terms

23rd August 2016
23rd August 2016

Do your eyes glaze over when you look at a set of accounts?  You will probably see several words and terms that you are not completely sure what they mean – so here is our guide to some common accounting terms. Read more

Foster carers: don’t miss out on tax benefits

9th August 2016
9th August 2016

Foster carers do such a fantastic job – but they do need to be aware of all the tax implications.  Nickie explores this area of personal tax:

Income from foster care is taxable and requires reporting on a Self Assessment Tax Return as self employment.  A foster carer will receive a weekly allowance, the level of which is dependent upon the age of the child and your location. Additional funding is available if the child has specific needs or if you have certain skills. Read more

Can I change accountants?

18th July 2016
18th July 2016

You all know how easy it is to switch your electricity provider – well, it’s even easier to change your accountant.

There is a big myth that you can’t move accountants – but the reality is that you can move at any time, you are not bound by contract and you can move freely and as often as you wish.

The next big question is ‘how do you move accountant’ – and how difficult is it? Read more

Applying for a mortgage? We can help…

1st July 2016
1st July 2016

Applying for a mortgage or renewing a mortgage when you are self-employed can seem a bit daunting, particularly when the mortgage company ask for a batch load of information to complete your application. Read more

Are you a Person with Significant Control?

16th June 2016
16th June 2016

As a result of some changes to the Companies Act 2006 there is a new requirement for limited companies and limited liability partnerships to keep a statutory register of those individuals deemed, or being in the position of being able to exercise significant control or influence over the activities of the entity. Read more

Accountancy software packages

1st June 2016
1st June 2016

We are often asked by our clients if we can recommend a software package for them which meets their individual requirements.  Two of the most popular  accounting software providers are Xero and Sage. Read more

An Introduction to SIPPs

18th May 2016
18th May 2016

A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire and start to draw a retirement income. It is a type of personal pension and works in a similar way to a standard personal pension, but the main difference is that with a SIPP you have more flexibility with the investments you can choose. Read more

Budget changes happening now…

4th May 2016
4th May 2016

We look at what is being introduced now as a result of the Budget,  and how this will affect you. Read more

Will you have a Happy New Tax Year?

13th April 2016
13th April 2016

We are now in the 2016/17 tax year and hence new tax rates and rules have come into force. From 6 April 2016 our individual personal allowance (amount each person can earn tax free) has increased to £11,000. However, the additional personal allowance that was previously available to people born before 6 April 1938 has now ceased and £11,000 is the personal allowance for everybody, regardless of age. Read more

Are you a self employed subcontractor?

31st March 2016
31st March 2016

Bricklayers, ground workers, electricians, plumbers, roofers and window fitters are typical trades that are all usually classified as subcontractors when they work for other businesses.  Read more about some of the tax implications for sub-contractors… Read more

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