When Should My Business Go VAT Registered?

As a company it can be a struggle to keep on top of rules and regulations. However, when you go VAT registered isn’t something that you can afford to be out of the loop on. There’s requirements you must meet as a company, and this being correct is one of them. Here we’ll tell you when to go VAT registered to ensure your business is fully compliant.   When should I register? It’s essential that you register when you go over the threshold, or when you know that you’re about to. Your VAT taxable turnover determines this threshold. This is
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How Technology Benefits Accountants, and Their Clients!

Here at ABC, we’re constantly looking for ways to help our clients and make their lives easier. We also consider ways to make our workload more efficient so that we can give time to tasks that require our expert knowledge and experience. One way that we achieve both of these goals is by using technology that frees up our time from mundane, yet necessary tasks. Automation apps and apps that allow our clients to send us documents, expenses etc digitally are becoming much more popular with many of our clients. There’s no doubt that it makes our and their lives
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Financial Mistakes All Small Business Owners Should Avoid

We’re passionate about helping businesses of all kinds, but we know how tough it can be for those who run small businesses. We’ve teamed up and created a post full of financial mistakes to avoid that we believe will help small business owners with their finances. Not planning larger cash reserves A fatal mistake for small businesses is to underestimate the volume of your cash reserves when planning. There’ll be things that you’ve planned for and inevitably things that you haven’t. It’s always best to have a larger cash reserve. This allows for those unexpected costs and reduces your stress
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Pros and Cons of Becoming a Ltd Company

Making your business ‘Ltd’ can be a decision that a lot of people don’t find easy. With changes to tax, legal responsibility and increased admin it can be hard to weigh up whether it’s the right thing to do for you and your business. We understand the trials and tribulations of running a business, here we’ve put together a blog post to make the decision of going ‘Ltd’ easier to make. Pros         People often prefer working with limited companies As a limited company you’ll likely find that people will have more confidence in working with you as well as contracts
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Making Tax Digital – What You Need To Know

There’s plenty of articles on the internet about MTD, most of them contain a lot of information that isn’t relevant to the majority of people. We’ve created this article to compile the relevant, useful information that most of us need to know about Making Tax Digital. Making Tax Digital will be active from April 2019.   In basic terms, it is a government scheme that means everybody will have to file tax and payment online as well as keeping records digitally. You’ll have your own account which will give you an overall picture of your tax.  ALL business tax will
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Financial Tips For Freelancers

With 50% of the workforce set to be made up of freelancers by 2020, we’ve compiled a list of our top financial tips for freelancers. We understand the highs and lows of working for yourself, one of the lows can be managing your financial affairs and preparing for the future. From budgets to saving it can be hard to know where to start and how to prioritise costs. These tips should help you to get off on the right foot and give you the freedom you set out to achieve when you began freelancing. 1)   Build an emergency fund.
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The Ultimate Need-to-Know Guide to Dividend Tax Rules

• Dividends received by pensions and ISA’s are unaffected. • Dividend income is treated as the top band of income. • From April 2017, the notional 10% tax credits on dividends is abolished. • The tax-free dividend allowance will be £2000 from 2018/19. Dividends above this level are taxed at 7.5% (basic rate), 32/5% (higher rate) and 38.1% (additional rate). This mostly affects those who work in very small family businesses, in particular couples who split incomes. • Individuals who are basic rate payers who receive dividends of a larger amount than £5001 must now complete self-assessment returns. • The
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Gainsborough DN21 Awards Celebrating Excellence in Business Tonight

You may have heard us talking about the DN21 Awards. We were excited to be a part of them initially because they represented something positive for Gainsborough business. Our excitement grew when Belinda herself and The Studio Gainsborough were shortlisted for two awards. The event will be held as a result of a partnership between the towns focal shopping centre, Marshalls Yard and Trinity Football Club. They are keen to recognise great businesses that enhance their community and add something worthwhile to the local landscape. There will be ten awards handed out during the event held at The Blue’s Club.
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Why you need to 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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