What’s an Accountant for?

Jan 27 2017

What’s an Accountant for?

Why does anyone need an accountant?  

How do they help me?  

What do they do anyway?

Here’s my answers to those questions:

Keeping you Legal.  We help you do your financial administration so you file everything you need to, on time, every time.

Saving Tax.  We help you save tax by making sure you do things in a way that incurs as little tax as possible.

Understanding your taxes.  Helping you understand how you are taxed, so you can plan for it.

Knowing your numbers.  Helping you understand your business by interpreting the numbers for you, so you can make decisions based on fact not just intuition.

Making you rich.  Helping you put a plan together so you can get your personal finances in order and meet your financial goals.

Budgeting and forecasting.  Planning for the future, so you can arrange your finances effectively.

Support.  Your accountant is probably one of the few people you can talk to with complete honesty about your business.  He knows the facts, so there is no need to show off or for false modesty.  

If you need any help with these, you know where we are.

Jess Brooks

Who are your best customers?

Jan 27 2017

The Pareto principle or the 80–20 rule says that, for many events, roughly 80% of the effects come from 20% of the causes.  So how might this affect you in your business?  I’d suggest that it can be profound.  If you can identify which of your clients or customers are: 

  • The 20% who produce 80% of your profits.
  • The 20% who produce 80% of your complaints and hassle. 
  • The 20% of your products that produce 80% of your profit.
  • The 20% of your sales staff that produce 80% of the sales. 
  • The 20% of your marketing that produces 80% of the results.

Then you can make decisions that will drive your profits to super success.  Of course it can be hard work analysing who are the
best and worst customers, staff or suppliers. Having identified them you can exit the troublesome ones and get to work replicating your best areas.  

The clock is ticking... just 25 days to submit your tax return.

Jan 27 2017

As the adverts say ‘tax doesn’t have to be taxing’. 

In fact if your affairs aren’t that complex it could take as little as 30 minutes to complete the online form BUT you need to be registered for online filing AND you need to have all the necessary paperwork in front of you. 

And deciding which information you need is one of the parts our clients have most difficulty with. 

We are always happy to answer quick questions, even if you're not a client. So if you're feeling stressed then pick up the phone.

Predicted £87 million windfall for HMRC on 31st January 2017

Jan 27 2017

Last year around 870,000 people missed the 31st January 2016 deadline and were issued with a £100 fine. 
That amounts to a whopping £87 million pounds for HMRC overnight on 31st January. 
 And don’t forget it doesn’t stop there you will receive further penalties for being 3 months, 6 months and 9 months late

In fact if you leave it until 1st August 2017 to submit your tax return your penalties will add up to a minimum of £1300!  OUCH!

Don't forget we are happy to answer quick questions even if you're not a client so if you are struggling to submit your return please pick up the phone.

Don't leave it too late to register.. you need at least 7 days before the deadline...

Jan 27 2017

If you are submitting your return online for the first time then you need to register online with HMRC and that takes time. 
You will need your 10 digit unique taxpayer reference number (UTR) which you will find on most letters from HMRC. 
Once you’ve enrolled you will be sent an activation code in the post which SHOULD arrive within 7 days.
 You can then use the code to activate the service and then finally submit your return.
If you have left it too late then we can submit on your behalf without you having to register.