Our biggest news of the year!
On 4th September, we are sponsoring a seminar in Plymouth that uses a case study to show how one small business got an extra £2.3 million to keep and spend in any way they wanted, and how other businesses can get broadly similar results. The speaker is Steve Pipe – a Chartered Accountant who, according to LinkedIn, is one of the 3 top speakers in the UK and the most highly rated accountant in the world. We have worked with Steve for just over 12 months, and are really excited, as this is the first time he has presented this in Plymouth. (You can see the 340+ recommendations for him on his LinkedIn profile here: www.linkedin.com/in/stevepipe
More tax saved
New client came in on Wednesday, worried about her tax affairs and whether she had completed her last two returns correctly. By Friday evening, we had identified over £3,000 of tax refunds for her, which covered our fees 3.5x over.
Welcome!
Two new clients taken on this week – Welcome to Caroline and Donald!
Our new systemised approach is really paying dividends
Well done to Emily (and the relevant clients). This month’s VAT returns have all been filed with 12 days to spare – a record! For those of you with June quarter ends, you know what to do! Using our systematic ‘Accounts Finalisation’ approach, we have identified a saving of over £2,900 that could be enjoyed by a client next year … … and another client has benefitted by a tax saving of £4,703 from claiming additional capital allowances, identified by using the same checklist.
Improving cash flow
By ensuring that a client received their payments without deduction under the CIS scheme we have helped to improve their Cashflow by £5,000 per month (Not to mention the £10,000 per month cash flow advantage of the VAT scheme recommendations that we made recently!)
More cash in your pocket
We are helping our clients improve their cash flow by introducing them to a highly efficient, low cost Direct debit provider. If your cashflow needs improving, get in touch and we can run through the nine ways to put more cash in YOUR pocket.
Reducing Tax
Three quick successes to report from last week … By amending the way in which a client valued their investments within their company accounts we secured a corporation tax saving of £1,500 By ensuring that a client was remunerated in the most efficient manner we saved him over £2,000 in National Insurance By identifying an alternative method of remuneration for a client, we offered them potential tax savings in excess of £7,000
Other News
http://www.accountingweb.co.uk/article/hmrc-staff-strike-next-week/560004 – HMRC staff to strike this week http://www.accountingweb.co.uk/article/tax-credit-claimants-warned-over-scam-emails/559960 – Tax Credits claimants warned over scam
Avoiding that “Monday feeling”
Mondays happen on a regular basis. For most people, Monday is the day we get back after a couple of days off. Problem is, other people have also had time off, and some of them will have remembered something over the weekend they want you to do. And their first opportunity to ask you is… …Monday morning. Here a few tips to help you set up your week for success. Expect and plan for the unexpected. You WILL get interrupted. So leave some time for those interruptions. I can remember an instance where we had a potential client walk in off the street with his accounts under his arm. We had capacity for someone to see him, so my boss at the time took the meeting, and we ended up with a client who is still with the firm, over 25 years later! If you can get in early, use…
Be on your guard!
HMRC are overriding previously advised income figures for tax credits with figures filed under the RTI system, therefore double check your income on your annual declaration! **Case study – A client had told the tax credits office in April that their income was £18,000, split between dividends & salary. The RTI filings only showed a salary of £7,680 so they reduced it on his tax credits claim and increased the payments!