George’s Marvellous (?) Medicine
Introduction George Osborne has just delivered his last Budget speech before the election. As it stands, the election is too close to call, so who knows if he’ll get another opportunity. This was a highly political budget, but included a huge number of changes. I’ll attempt to summarise those changes, and list some action points. Overview The budget has been delivered against a background of higher growth, and lower inflation. This has given the Chancellor a large degree of room for manoeuvre. He has used this to announce a wide range of changes, while continuing to reduce the expected deficit. He now expects to return to a surplus in 2018/19, meaning the national debt will eventually start to fall then. These figures have been based on reasonable growth forecasts of an average of 2.4% per annum over the next Parliament. Changes affecting individuals Income tax The increase in the personal…
HMRC no longer chasing client
On reviewing accounts for a new client we discovered errors made by their previous accountant. We have managed to generate tax savings in excess of £500, including a cash refund of £350. Plus, HMRC are no longer chasing them for over £5k in corporation tax which was never actually due!
Cool Operator!
Take a look at this amazing scooter! Peter Brooksbank of Denbrook Consultancies (www.denbrookconsultancies.co.uk) paid us a visit to review our Health and Safety measures, and rocked up on this beautiful machine. It was well worth taking a pic.
It’s always nice to be appreciated!
Last week, Andy spent time with a client to help them identify their business goals for the next 3 years – and along the way identified ways in which the goals can be achieved in a tax efficient manner. Today he received a nice card from the client to say ‘Thank you’!
New beginnings
Steve heard that one of our team member’s friends was searching for a new job, just as one of our clients was looking for a new office administrator. He put them in touch, and our client SW Shopfittings Limited appointed her last week. It feels good to help! On Thursday night, Emily learned that she had a new Nephew. Freddie was welcomed into the world! Our congratulations go to her, and the proud parents.
New clients
A big welcome to Felix, our newest client. Steve visited a new client and discovered that she was over £2,100 in credit with her existing accountant. This means she can reclaim that sum, and getting us to prepare her 2014 accounts improves her cashflow by over £1,000!
Tax savings
Steve did an expert review for another accountant on Friday. The other accountant had done a good job with a complicated CGT issue, but Steve identified an opportunity to turn it into a GREAT position for her client. Steve said it’s nice to help old friends! And the old friend told Steve “That’s exactly why I wanted you to review the paperwork; you think outside the box.”
More tax
This week, Steve delivers some highlights from our 70 point, year end tax planning checklist to Plymouth Business Network. If you’d like a detailed review, to spot any opportunities to cut your tax bills (without hiding cash in Switzerland!), please get in touch.
More clients starting their journey to a better business
Welcome to our latest clients, John, Amanda and Darren.
Helping an old friend to make life better
Mike came into the office for his pre tax year end review. Identified 11 steps he can explore to “make life better”. He, and the team here are working through those points this week. More importantly, we may have found someone to help him run his business, allowing him to have a holiday for the first time since this time last year.