How often do you check your suppliers VAT status?
One client hadn’t noted that a supplier was now VAT registered, and as a result had missed out of claiming over £8.5k in VAT through their VAT returns. We’ve tidied this up for them, and they were over the moon.
Making Lives Better
Steve had a number of meetings last week, with people asking for a wide range of advice. We were able to help an ex-client by advising him of the CGT due on the sale of his holiday let, a returning client with advice on setting up her own business, and the friend of an ex-employee who wants to set up his own business. Whether it’s setting up your business, closing down and selling off an existing one, or anything in between, we can help you on your journey. Please don’t hesitate in getting in touch!
How good is your business?
We are delighted to announce the release of our new cloud-based benchmarking software. Developed by our partners at AVN, we are able to compare your business (confidentially) to others in your industry sector and geographic region. Using up to 45 different measures, we can tell you just how good (or bad!) your business is, compared to your competitors. So, if you want to know (and more importantly would like to know how to make it better), please get in touch.
Choose how much tax you save?
Steve met with a client, their IFA and a technical adviser this week to discuss a pension plan he had devised. It would appear that the client can save over £500,000 with this plan (Steve knew that already!). However, the client may want to retain cash for further non-pension investments, so they may choose to save less. It’s good to have the choice though, isn’t it? If you’d like to explore ways in which you can have a choice over how much tax you pay, give us a call, or use the contact form to set up an appointment.
Keeping one (or more) steps ahead
Did you see our live coverage of the Chancellor’s budget speech? If you did, you knew about the hike in NIC for the self-employed even before he’d finished announcing it! If you think you might be affected in April next year, we can help you assess the damage, and give you options for limiting it. The earlier you take action, the better your chances. Give us a call and set up a plan to stay one step ahead.
Team
New Team members We are delighted to welcome Adam Sloan and Aleksandra Maj to the ‘Numbers family’. Adam is employed as an Accounts Senior, and Aleksandra as a modern apprentice, and we are chuffed to have them on board. It’s going to be great working with them, and they are going to be a great asset to the firm ‘Making Lives Better’. Exam excellence Our new team member, Adam, has already made a splash. He has passed his AAT Level 4: Management Accounting: Decision and Control (AQ2016), with a brilliant 89%. Well done Adam!
The kind of stuff we do
Family succession Steve helped a family to pass on the freehold of their business property. This involved guiding the father through the CGT minefield, and the son through the options for funding and purchasing the property. Substantial savings of over £500,000 were identified along the way, and even the grandchildren can benefit from the structure recommended by Steve. The simpler life An elderly client of ours came to see Steve, worried that her life was about to be turned upside down. She owns a commercial property that is now worth £6m. She worries about the impact on her family. Steve was able to talk her through the stages of selling the property, paying the tax, and some of the options for the rest of the proceeds. Her family will be able to set up the businesses they want, the client will be happy she is using the funds wisely –…
Our chosen charity – Plymouth and District Leukaemia Fund
The Plymouth and District Leukaemia Fund (PDLF) was set up in 1983 with the aim of raising money to provide more comprehensive care locally for people with leukaemia and other blood disorders. Over that time, it has raised over £1 million and has contributed greatly to the opening of a purpose-built Haematology Unit, Birch Ward, which was opened at Derriford Hospital in 1988. Other achievements include: Assisted in the purchase of six special isolation rooms to reduce the risk of infection for patients receiving bone marrow and stem cell transplants. Set up a bone marrow processing laboratory in Derriford Hospital. Funds research into the effects of growth factors in leukaemia cells and many papers have been published in the scientific literature. With the Haematology Unit now well established the PDLF is committed to supporting new developments in the following areas: Provision of specialist equipment to optimise the treatment and care…
Rachael says:
“Some exciting accounts of how Numbers continue to achieve their goal of ‘Making Lives Better’ this week. THIS is why we get out of bed, and come to work each morning! Have a read …”
Saving money from the word go
Steve met with a potential client last week who agreed terms this week. We have found a way for him to pay off his mortgage within three months, and in a tax efficient way that pays for itself. He’s ‘over the moon’!