HINTS AND TIPS

The latest hints and tips from our blog.
Please note: The information contained in this site is provided for information purposes only and is of a general nature. It is not a substitute for specific professional advice related to your own circumstances. You are recommended to obtain specific professional advice before you take any action.

Lifetime ISAs

Incorporating the Lifetime ISA into your savings strategy. The past few years have seen several innovations in the savings account market. Gone are the days when savers only had cash and stocks and shares ISAs to choose from. Nowadays you can open specialist accounts...

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Planning your retirement

Whatever your age, it’s never too late to start saving for retirement. It’s more important than ever to start your retirement planning from an early age, however dull a prospect that may sound to younger generations. Putting money into a pension each month will...

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Salaries & Dividends

What combination of salaries and dividends should you take in 2017/18? As the owner and director of your own company, you can choose how and when to extract funds from your company. As almost all the funds you take out will create a tax charge in your hands, you may...

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Will I pay tax on my sponsored car?

George is a self-employed golf pro who has been making a name for himself in the sport. He is also employed by a local golf club. He submits an annual self assessment tax return to disclose his sole trade and PAYE earnings to HMRC. He has been offered a sponsored deal...

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Corporation Tax Q&A

Avi is a small limited company business owner reaching his end of year and had a couple of questions on his end of year accounts. He is worried that he may be paying too much corporation tax. 1) What ways can you reduce a company's corporate tax apart from giving out...

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VAT after Brexit

What could happen to VAT after the UK has left the European Union? On 23 June 2016, the British public voted in one of the most important referendums of modern times. The public’s decision to leave the EU will have an impact on almost every aspect of economic life....

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R&D tax credits

A guide to the tax relief available to innovative SMEs. Research and development (R&D) tax relief for small companies provides an enhanced deduction for the costs of qualifying R&D projects. R&D tax relief for large companies is given as an expenditure...

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9 Common VAT Pitfalls to Avoid

Whether you are newly registered for VAT or you have been registered for a while – be aware of these 9 common VAT pitfalls. These are the most frequent errors we see when we are reviewing small business VAT returns.

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Why register for VAT?

Updated 31/05/2017 You are legally obliged to register for VAT when your business ‘taxable supplies’ within a rolling 12 month period exceeds the VAT threshold.  As of 1st April 2016, the VAT threshold was £83,000. This increased to £85,000 from 1st April 2017. The...

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Information required on a VAT invoice

In very simple terms invoices or receipts tell a customer what they have bought from you and whether it has been paid for or is still to be paid. What must you include on your invoice? Once registered for VAT, you must show the following details on any VAT invoice you...

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Why am I paying tax if I haven’t earned my tax-free allowance yet?

A recent question from an employee of a client prompted this article – they were quite surprised that in April of the new 2017/18 tax year that they had been taxed on their earnings, despite the fact that they had not yet earned the £11,500 that they thought they should earn tax-free! This may seem like a surprising misunderstanding of the UK PAYE tax system, but you might be surprised how often it comes up. So we thought we would explain it.

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Personal Tax Planning 2017/18

How individuals and families can save taxes in 2017/18. The UK tax system provides reliefs and allowances to encourage you to spend or invest in certain ways. Using those reliefs as they are intended is the fiscal equivalent of obeying the Highway Code. If you divert from that code, by parking incorrectly, you would expect a penalty. The tax system also imposes penalties to discourage bad behaviour.

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The Ins and Outs of Self-Billing

Updated 23/03/2017 Sometimes it would be much faster and more efficient if you were to enter your suppliers' invoices on your accounting system and send them a copy of their invoice afterwards! Well, you can do that if you have a self-billing arrangement with your...

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Employee benefits

A guide for employees on the tax implications of accepting common employee benefits. Most employers provide a range of benefits in kind to their employees. You may be able to choose which benefits to take up, so you should be aware of the different tax and national insurance (NI) implications of each benefit you pick.

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Investing in Small Companies

A beginner’s guide to investing in small companies and the available tax reliefs for doing so. Starting a business is rarely glamourous. Many of the globe-straddling behemoths of the business world had low-key beginnings. Both Apple and Hewlett-Packard were famously...

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Get up to Xero-speed

Get up to Xero speed. Xero is beautiful accounting software that puts your financials at your fingertips and allows us to work with you or for you on your business accounts. Here you’ll find everything you need to know to thrive with Xero. But, before you dive in…

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Trusts and tax planning

An introduction to the relationship between trusts and tax.

Trusts are a legal arrangement whereby assets are placed into the care of an individual who manages them for the benefit of someone else.

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Employee benefits and rewarding staff

A guide to rewarding your staff and the tax treatment of employee benefits. Many of us do not really think about the commitment that employees make to their employers in terms of time. The average 9 - 5 worker with their 5.6 weeks of statutory holiday is likely to...

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How a FABULOUS FREEBIE will generate new sales

Whatever business you are in – you need sales.
You need income – not just any old sales, you need profitable, sustainable, repeatable or recurring sales.

In this article, we will show you how to use a Fabulous Freebie to get people on your list and generate new sales.

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Using Xero Files to Manage Your Documents

Xero files is a great tool for attaching any kind of file or document to almost any transaction – this means you have your all of your documentary audit trail in Xero and all of your files close at hand should you need them.

In this article, we will show you how to get your documents into Xero Files.

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Caseron Insider – October 2016

Businesses pay £44 billion in corporation tax
Annual investment allowance
EU workers uncertain cover residency status
Tax-free childcare to launch in 2017
Paper tax return deadline approaches
The transition to digital

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8 Actions to take when you can’t pay your VAT

Sometimes, despite your best efforts there isn’t enough cash in the bank when it comes to paying your VAT. So what are your options?

Don’t ignore it, It won’t go away. The best, but most uncomfortable option is to ‘eat that frog’ and tackle it head on. Here are our top tips on how to deal with VAT arrears.

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10 Top Tips for using the Receipt Bank App

Receipt Bank is a brilliant time-saving and cost-cutting add-on to Xero. If you don’t use it already – then take a look at our introduction to Receipt Bank.

If you do use Receipt Bank – here are some top tips on how to be a Productivity Ninja with Receipt Bank.

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11 Steps to building an online course

A way of maximising your sales and revenue now is through the online market. There are hundreds of companies like yourselves putting all their knowledge online and selling what they know and helping people by creating an online course specific to the market and...

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Work from Home Allowance Calculator

Please make sure you have read our related articles before you start entering data into the calculator. The article will explain what you can claim and why. The rules are slightly different for the self-employed, directors and employees. Claiming a Work from Home...

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Implementing a (POP) Purchase Order Process

For most small businesses, sometimes placing an order can be as simple as calling your supplier and requesting goods or services or sending a quick email. But as your business grows, the need to manage purchasing will grow to. One way to keep on top of your purchases is to implement a proper purchase order process – automate and systematise your ordering process and empower your team, without losing control.

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Six tips to improve your short term cashflow NOW!

What happens when you have reached the end of the VAT quarter – you have had a really good month of sales but you have reinvested the cash generated in the business or drawn it out to pay your wages! You realise that you probably won’t have enough cash to pay your VAT liabilities in 5 weeks time. Opps! What can you do?

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The Importance Of A Good Call To Action…

Any real business owner and any good marketer knows that a call to action is one of the most important keys to building and establishing a business relationship with potential and current customers. But why is a call to action so important to your business? A call to...

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Podcasting – Part 2 – Uploading & Monetising

Uploading your podcast Put your RSS podcast feed on the internet Go to feedrunner and type in the URL of your blog and click I am a podcaster on the next screen, configure the elements for your podcast. These are the elements that directly relate to the podcast. Your...

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Blogging Part 1 – Finding your inspiration

Making money through blogging requires a carefully thought out topic. If you have an existing blog with a small audience, be honest when considering whether the topic has broad appeal and that it isn't already being covered by other established bloggers. If it does,...

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Groupon – Buying & Selling Online

Groupon is an online deal website that provides printable or digital vouchers for daily deals offered by local businesses, and some international businesses, depending on what type of product you're looking for. The site itself allows you to advertise a physical...

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Youtube

Youtube is one of the biggest providers of an online platform for anyone to make money, all you need is a youtube channel, a personality, and content, simple. There are of course steps to building a following and getting the views on your video to monetize this as a...

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