Are you getting top service from your accountant?

For many businesses an accountant is selected as the company is formed and from that moment on they never look back. They don’t even look sideways. The selection of an accountant can often come down to one crucial factor: • Local company • Near the office/factory • Cost effective • Word of mouth • Know someone that works there • Most visible in town • Trusted large franchise with a good national reputation • They made an excellent first impression These are all valuable traits for an accountancy firm to possess and although we would recommend shopping around, enjoying a
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Bucking the marketing trend

A recent article on Accountancy Age states that ‘accountants continue to fail in marketing activities’. Research done suggests that less than a third of accountancy firms have dedicated marketing or business development staff. Around a third keep no list of prospective clients, just under half use social media sites to promote their business and record marketing method to conversion stats. ABC Accounting Services buck these trends and are part of the prosperous minority that embrace marketing with real success. As the research highlights there are three huge necessities when making marketing a priority for your business: 1) Make sure you
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IR35 put simply

This is a tedious subject, I know, but HMRC seem to have caused plenty of confusion with their complex guidance once again. So here are the simple facts about IR35. Why? The IR35 legislation’s main purpose is to act as a deterrent to those knowingly avoiding tax and NI contributions. HMRC announced that to abolish IR35 would lead directly to a £550m estimated loss in revenue. Ultimately, HMRC is increasing the financial burden on contractors with a confusing system – who knows why they do what they do? Who does it effect? All contractors who do not meet the Inland
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Putting the Icing on the Business Cake

My karate coach once said to me: ‘sometimes you have to add icing to the cake’ I looked at him gone out but as he explained and as time has gone by I have grown to appreciate icing more and more. So this is how he explained it. Icing is added when the cake is ready. You put all the hard work, effort, blood, sweat and tears (we are speaking metaphorically here in case you were wondering what god awful cake I was making in my spare time) into making the perfect cake. You get the temperature just right so
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Queen’s Speech confirms massive pensions overhaul

The Queen’s speech confirmed that pension reform will ‘give individuals the freedom and choice to access their pension as they see fit, with the biggest change to the way people are able to access their pension in almost a century’ (Chowdhury 2014). The speech discussed the overhaul of the pension system as well as legislation to introduce new CDC rules. Individuals will be able to withdraw money from their defined contributions pot after the age of 55 as and when they wish and only pay their marginal rate of tax. Withdrawals can be structured to reduce tax charges. Annuity’s need
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Why as a nation were we outraged with Starbucks…but not Amazon?

£167bn makes income tax the government’s main area of revenue. It contributes to the £648bn total of incoming receipts. This compares with £732bn which is the government’s total expenditure. The gap is bridged with £84bn of borrowing. So how does Starbucks fit into all that? It is only one company after all. When reports emerged in 2012 showing that the coffee giants had paid little to no tax the British public reacted with venom. There was national animosity, protests and many chose to boycott them and are continuing to do so. This was admirable and moving – voting with your
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Take a Break!

Sometimes we need to take a break but there are so many obstacles in our way: I won’t fit everything in People will think I am lazy I can’t afford to take time out People are relying on me Nobody else is taking a break Then ultimately, we put the idea out of our minds and soldier on. But, is that the healthy option here? Are we a nation of workaholics? Do we take enough breaks? And of course the answer is no we do not take enough breaks and this in itself can have detrimental effects on our health.
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Going self-employed – would you employ you?

When you start your own business there is nobody to interview you for the position. It is great that you have the gumption and determination needed to take the first step into self-employed territory. But is it right for you? This is not an enviable position to hold for most because of the long hours and responsibility that comes with it. There are certain skills that you will need to succeed and though some of these can be found by outsourcing the work some of them will have to be instilled in you. So are you right for this job?
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Meet the Entrepreneur

Ever wondered what it takes to be an entrepreneur? It has been estimated that just over 50% of all entrepreneurs went to University or College, depending on what country you reside in. So, around 50% of all entrepreneurs do it with barely any qualifications whatsoever, some did not even finish high school! This is a nice message to get across to the children studying for their GCSE’s at the minute. Yes, higher education is a bonus but it is not an essential tool in the entrepreneur’s repertoire. So what is? There are those who seem to be born with a
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Are you thinking big enough?

Think Big launched today and was a very well received and successful event. Belinda and Lizzie delivered a great workshop full of helpful tips, facts, anecdotes and advice on how to run a successful business. They brought a room full of self-employed people together and assured them that their lonely, stressful and constant rollercoaster of a life was something they all shared. It takes a tenacious, driven, creative and resourceful individual to run a business but with the right support and mentality it can be the most rewarding and liberating experience of your life. The message today was very much:
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