Author Archives: Rachael Carey

Steve met with a client recently who recognised a need to change if he was to develop a business to support his family. A three-hour meeting uncovered numerous ways in which Chris can boost his income and profits and protect his good quality (but expensive) office coffee!!

Introduction  The campaigning is over and we have a new Government, with a significant majority. The result is being described as “historic” and “an earthquake”.  Good businesses have always looked ahead, so this brief article is designed to help us all think about what happens next year and beyond.  Assuming the promises are honoured (I make no comment on that!), here’s what we can expect over the next five years, and the action business owners can take now.  What is in store?  I am focusing on purely tax and business matters.  Taxation of income and expenditure  The Tories have promised to keep income tax and VAT at current rates. The planned cut in corporation tax will be cancelled, so the rate of 19% will remain. There will be a cut in NIC worth £100 next year, and the intention is to increase the cut to £500 by the end of the Parliament. That would mean an increase in the NIC threshold…

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Our doctor daughter was thrilled to receive a tax refund of £983 this week … just in time for Christmas! Now, I wonder who she will spend it on ..?! ????

After a six-month battle, one of our clients finally received their VAT Repayment from H M Revenue and Customs this week -straight into their bank. This has taken setting up a new bank account and completing and sending numerous forms … but we got there in the end! We now have a very happy client, who will receive all future H M Revenue VAT repayments automatically too!!

Another happy client has received a tax refund on £3461.06 because he bought a van last year and we were able to offset the whole cost against his profits!

Big congratulations to our Becca who graduated last month with the prestigious Association of Accounting Technicians (AAT) qualification. A great achievement, and reward for all your hard work – well done Becca!

Our brightest apprentice to date has just achieved a spectacular result of 100% in his ‘Management Accounting: Costing’ exam. Well done to Jake Turner – we’re totally chuffed to have you on board!

Donald and Teresa have found their dream home, but were concerned that their recent trading history would prevent them moving. However, because they use our recommended cloud-based software, and allow us to review their progress on a regular basis, we have been able to highlight the data that will allow them to move.

A newly wealthy couple met with Steve to discuss a possible property investment. Steve was able to talk them through the wider issues surrounding investment. Subsequently, they have decided to continue their strategy, having considered the alternatives and the changes in tax that Steve put to them. They know that their decision is fully informed and the right one for them.

We met with a business owner who cannot work with his co-owner. Giving a range for a buyout price, Paul was able to set his strategy, and a plan B in case the business partner chose to stay rather than go! If you need a chat about your strategy with someone who understand both the financial and emotional factors involved, get in touch.