Cloud accounting
After 3 hours of training on @Xero a client left the office feeling like they are more in control of their business finances than ever before. Have you considered cloud accounting in your business? If not, contact us to find out why you should be thinking about it.
Cogratulations
To our team member Bradley Adams, who passed his Level 3 Costing exam with flying colours! Well done!
Doing Good
On Saturday night, Emily, and Pelynt Young Farmers, held a ‘Hoe Down Show Down’ and raised £1,000 for Cornwall Hospice Care. Well done to Emily and team!
The election’s over, what’s next?
So now we know the outcome of the most unpredictable election in a generation. The question for good businesses is not “How did that happen?”, but “What happens next?” The Tories look like they will be just one seat short of an overall majority. They are likely to form a government without partners, as the opposition is too divided to vote them out, so another 5 years as PM for David Cameron is on the cards. The main opposition is likely to come from within the party. By this, I mean from his euro-sceptic element. It is possible that EU membership becomes the main battle ground for the next five years. This uncertainty will be damaging to business, and my hope is we get to the promised in/out referendum as soon as possible. What does that mean for business? In many ways it is good news for business. The economic…
Maximising tax efficiency in 2015/16
Introduction The introduction of the Employment Allowance (“EA”) allows employers a discount of up to £2,000 off their liability to Employers’ NIC. This has added another factor into the salary vs dividend debate. There is one other complicating factor as well. The level of other taxable, non-dividend, income enjoyed by the director/shareholder. If there’s no other income A salary equivalent to the director’s personal allowance is most efficient. The additional NIC paid by the director (at 12% on the excess over £8,060) is more than compensated by the additional corporation tax saving at 20%. With no other employees, this works for companies with up to 5 directors/ shareholders. What if the director has other income? Many directors own the company premises, and enjoy a rent from that. Where rent (or indeed any other taxable income) is enjoyed by the director, a little more care is needed. The optimal position would…
How would YOU spend the extra?
Following an overall review of borrowing, Andy assisted with a lending application and has managed to reduce our client’s regular repayments by £3,400 per month.
Many Congratulations!
To Sir Fix A Lock Ltd for their runner up spot in the Corporate Social Responsibility category, as part of the Plymouth Herald Business Awards . To Toby Moore of TJZ Building Contractors Ltd. who completed the London Marathon in 4 hours 16 mins. His fundraising so far has raised £1,463 for Whizz Kidz To Kelly Palmer from The Wedding Company who had a baby last week!
We know that cash flow is important to you
After a client’s existing bank rejected their proposals for additional funding, Andy helped them through the application process with another bank. This helped them to achieve a 33% increase in their business overdraft facility.
Investing in People
We will be welcoming a Polish foreign exchange student into the office in May. We are looking forward to working with Monika during her time with us.