Real Time Digital Tax Accounts

In the budget back in March this year, George Osborne, the Chancellor announced plans to move away from the annual tax return to digital tax accounts. But what does this mean for individuals and for accountants. For individuals From April 2016 five million small businesses and 10 million individuals will have digital tax accounts, which will mean that the individual will no longer need to … [Read more...]

Running a Profitable Care Home Business

How 2% + 2% + 2% + 2% = 32%               I know accountants are not normally seen to be creative, but I want to show how small improvements in your business can lead to significant changes to your bottom line. This example is based on a 50-bed home.   Before   After   % … [Read more...]

Inheritance Tax – What is a gift?

Under Inheritance Tax (IHT) rules you are able to make certain payments to family, friends and others which are exempt from Inheritance Tax, these are known as gifts. 7 Year Rule Any gifts made to anyone, over 7 years before a person dies are exempt from IHT, irrespective of the amount, but there are also some gifts which you are able to make within 7 years which are also exempt:- Gifts of … [Read more...]

5 Myths about Finance Directors

 Peter Stamps, Director of FD Business Ltd., has extensive experience in the financial industry having worked with a range of organisations of all sizes in various sectors. Here, Peter dispels a few common misconceptions about the role of the Finance Director and how hiring one could dramatically improve the performance of your organisation even if you are an SME and don’t feel you’re large … [Read more...]

Simple payroll for small businesses

As we approach the end of the tax year, it is worth giving some time over to think about how small businesses operate their payroll, and what is the most effective method for processing the payroll. Many small businesses use the HMRC basic PAYE tools, which are very good but do not link to their accounting system, their bank or generate payslips, others use a standalone payroll system which … [Read more...]

Budget 2015 Report by FD Business

The UK Budget 2015 took place on Wednesday 18th March 2015. This will be the final budget before the next election in May 2015. Chancellor George Osborne used his final Budget statement of this Parliament to announce that “Britain is walking tall again”. The budget was clearly to help key sectors of the general public, in the hope that George will still be the Chancellor. The budget was … [Read more...]