Accountants in Sutton Coldfield nominees of Business of the Year Award

January 31, 2017 | by Sian Kelly | No comments

Last Thursday night the Greater Birmingham Chambers of Commerce, Sutton Coldfield, Lichfield and Tamworth New Year Dinner and Awards 2017 took place. Inform Accounting were delighted to be one of the three businesses shortlisted for the Sutton Coldfield Business of the Year Award (sponsored by Power Minerals).  

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Unlocking your pension age 55 plus

January 24, 2017 | by Sian Kelly | No comments

Changes were introduced with effect from April 2015, which provide those aged 55 plus with greater access to their pension savings. Where an individual has a defined contribution (money purchase) scheme, it is no longer necessary to purchase an annuity with the pension pot.

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The new lifetime ISA- How does it work?

January 24, 2017 | by Sian Kelly | No comments

Plans to introduce a new Lifetime ISA were unveiled in the 2016 Budget. The Lifetime ISA will be available from April 2017. It can be used either to save for a deposit for a first home or to save for retirement.

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6 Essential Accounting Terms for Small Businesses

January 20, 2017 | by Sian Kelly | No comments

Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn't mean completely checking out of the process each month or quarter.

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What is lettings relief?

January 20, 2017 | by Sian Kelly | No comments

Lettings relief increases the amount of the gain that is sheltered from capital gains tax when you sell a property which has at some time been your only or main residence, and in respect of which some private residence relief is due.

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Owe tax to HMRC – take advantage of a campaign

January 17, 2017 | by Sian Kelly | No comments

Taxpayers who have not told HMRC about all their income and gains can make a disclosure online. It is always better to tell HMRC rather than waiting for HMRC to come to you. Even with the best of intentions, it is easy to make mistakes.

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How to hire the right bookkeeper for your business

January 13, 2017 | by Sian Kelly | No comments
 

"Outsource your weaknesses." So says start-up guru, Sujan Patel, when advising small business owners to get outside help for tasks like payroll and bookkeeping. And when you consider that 70% of businesses fail due to poor in-house financial management, Patel's advice seems spot on.

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Tax relief for research and development costs

January 13, 2017 | by Sian Kelly | No comments
Investing in research and development can be a costly business with no guarantee of recovering the costs. However, some help is at hand in the form of corporation tax relief.
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Mobile phones- a tax-free benefit?

January 10, 2017 | by Sian Kelly | No comments
Employers often provide employees with the use of a mobile phone and, structured correctly, they can be a valuable tax-free benefit. But there are pitfalls that may trap the unwary.
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Avoid a penalty- File your tax return on time

January 10, 2017 | by Sian Kelly | No comments
 
The deadline for filing the 2015/16 self-assessment online is 31 January 2017. It is important that this deadline is not missed because if you miss it, even by one day, you will have to pay a late filing penalty of £100.
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What is a loan trust?- Inheritance tax planning

January 06, 2017 | by Sian Kelly | No comments

While giving away assets and hoping to live for seven years afterwards can take them out of the taxman’s reach for inheritance tax purposes, the downside is that you lose the right to benefit from those assets.

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