Blog

This week we have set up another couple of Limited Companies for our clients using our In-House Incorporation Service.

Trading as a sole-trader can be simple and straightforward. However, it isn’t necessarily the best format for a trading vehicle. It really does depend on many issues whether a company is a better option for trading a business, but sticking with the same format of trading vehicle because that is how it has always been done is not an approach we would recommend.

We help businesses look at their circumstances in a ‘case by case’ basis and ensure there is a bespoke solution to each trading scenario.

Please call with any questions you have if you have ever thought…’Should I be trading as a Limited Company?’

This week we have seen further concern from small employers who are worried about their duties, regarding AUTO-ENROLMENT PENSIONS for their staff. To help counteract this, we are offering Saturday meetings, during July, for anyone (clients or non clients) who needs some help and advice in this or any area.

If you are too busy during the week and would like to come in and have a chat and get some advice, please give the office a call and arrange a 30 min free meeting. We will be available every Saturday during July, 11.00am to 4.00pm.

We have also been reminding client’s that the P11d deadline for reporting ‘benefits in kind’ for 14-15 is now closed with the deadline for submission of the forms being 6th July 2015.

The payment deadline for any Class 1A NIC due is 19th July 2015 or 22nd July 2015 if paid electronically.

Penalties are levied by HMRC for late or non submission of P11ds and we would advice any business to assess their situation to see if any submissions are required.

Over the last few months we have seen increased interest from individuals thinking about investing in the ‘BUY to LET’ market. The improvements in the property market and signs of recovery in this area have triggered peoples interest in potentially starting out or developing their property portfolios. A further change in the pension rules allowing individuals to drawdown on their pension funds have also created further interest, with potential funds for investment being more accessible. Read more

We have spoken to a new client this week and addressed their VAT situation. After completing one of our ‘free reviews’ we identified there were some substantial savings to be made.

We do carry out a lot of free VAT reviews for non-clients and very often find areas we can make savings.

Please don’t hesitate contacting us if you would like us to have a look at this for you, it really can be beneficial.

This week we saw commentators talk about the new marriage allowance which has been introduced from 6th April 2015 saying it is potentially not worth the effort that HMRC will have to put in to administer the allowance. We disagree!

The allowance allows an individual with unused personal allowances to transfer £1060.00 of the PA to their spouse, as long as the spouse is a basic rate tax payer. This will bring a saving of up to £212.00 pa and is well worth the claim. We will be ensuring all our clients that are eligible will get this and it is definitely worth the effort.

This week we saw another one of our clients stage for AUTO ENROLMENT. All the training and systems implementation we have been doing here at Brothertons over the last 12 months is now paying off for us. This particular client was very concerned about his obligations as an employer. He was really worried about everything that needed to be done. I initially went to see him and told him we would help make the process as pain free as possible and help him every step of the way, which is what we have done. It really makes it all worth while when the client calls into the office to thank us personally for making the process smooth and problem free. Read more

During the week we have taken on a few new clients. I also met up with a potential new client and we arranged to meet in his local coffee shop. What a good excuse to feed my caffeine addiction!

It did make me think what a good idea….if businesses want to talk to us about any business, accounting or tax issues they have, why not meet them at a local Costa or Starbucks!!….. and have a chat about their business and get that mocha at the same time…. so give me an excuse to get out and I will get the coffee.

One of the clients we took on a few weeks ago was bogged down with using an accounting package which was in their own words ‘over the top and dragging her down’. She seemed to be spending all her time on the data entry rather than on her business! Sound familiar? Read more