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Bank On The Banks, or Borrow Elsewhere?

This blog post has been kindly contributed by Dave Farmer of Lime Consultancy and looks at what ticks the bank’s boxes in terms of agreeing business loan and overdraft facilities. If you are looking to raise finance from the banks I’m sure you will find it useful. Forthcoming blog posts will address alternative sources of […]

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The new employment allowance

The new employment allowance could cut your tax bill by £2,000 if you run a payroll. Most companies can claim the allowance even if their only employee is director, which is the case in some of my small company clients. There are exclusions: namely if your business is caught by IR35, i.e it’s a so-called personal […]

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Joint ventures for property owners

There is huge pressure on local authorities to create new homes. So if you are lucky enough to have a large house plot you could sell part of it to a developer for a lucrative amount for them to build on. Any capital gain you make would be tax free using Principal Private Residence Relief, as long […]

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Ten questions to ask an Accountant

These are ten questions to ask an accountant if you are looking to appoint one: Are you local/have local clients? Do you offer unlimited email telephone and face to face meetings? Are your fees totally transparent? Do you offer a fixed fee service? Do you offer a fee protection scheme? Do you offer meetings out […]

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At long last, UK inflation has hit target…but soon, so too will unemployment

Inflation, as measured by the Consumer Prices Index (CPI), hit 2.0% in December 2013, ending the year on target. The last time inflation was on target (actually 1.9%, 0.1% below) was November 2009. The main reason for that was the reduced 15% rate of VAT, which lasted from December 2008 to January 2010, temporarily cutting […]

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Is sharing income with your spouse legitimate for tax purposes?

Is sharing income with your spouse a legitimate tax saving strategy? Many small companies have one director with salaries paid to them and their wives. Shares are often split between husbands and wife’s as well. Whilst the objective is clear namely :- the use of both personal allowances and utilisation of two basic rate bands […]

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Contractor Mortgages: A Guide

There are many great benefits to working as a contractor, but obtaining mortgage when you have a more entrepreneurial payment structure has been an age old problem. The recent credit drought has done little to improve matters, as lenders have become far less accommodating towards those with seemingly complex income structures. Traditionally, lenders incorrectly viewed […]

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Branding your time

Selling your time as a professional is getting harder. Clients don’t want to pay for your time but want a solution for a fixed fee. As a business owners professionals need to recover as much as their time as possible. So how can these two goals be rationalised? Well the best strategy for the professional […]

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New Tax Rules for landlords

Last month’s E-update mentioned the effects of the renewals allowance being withdrawn with effect from April 2013. It is a long standing rule that you can’t claim a tax deduction for the cost of capital items all in one year. Businesses can instead claim capital allowances spread over many years to take account of the long life […]

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Struggling to pay your Jan 14 tax liability? If it includes a payment on account for the current tax year you might be able to postpone some

Struggling to pay your Jan 14 tax liability? If it includes a payment on account for the current tax year you might be able to postpone some — Robert Bradley (@rjbradley) December 24, 2013 from Twitter https://twitter.com/rjbradley December 24, 2013 at 10:04AM via IFTTT

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