Publications

We have put together a series of useful Business Guides, available to download.

Workplace Pensions

Auto-enrolment makes it easier for people to save money for their retirement. It means that every employer must automatically enrol eligible staff into a qualifying pension scheme. Complying with auto-enrolment To comply with the new pension reforms, employers will...

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Buying a Franchise

Are you considering starting a new business, or extending your existing business interests? If so, have you thought about buying a franchise? A franchise is a method of running an enterprise with a 'blueprint' designed by a franchiser licensed to the franchisee. In...

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Buying a Business

Buying an established business provides a path that many follow to fulfil their desire to enter into business or expand existing operations. Like buying a second-hand car or house the need for care and due diligence is essential as this could represent the opportunity...

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Residence

Residence is determined by a number of factors including how many days you spend in the UK, where you work and where you have homes. A person may be resident for tax purposes in more than one country in which case their status may be determined by tax treaties between...

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Making a Will

Making a Will is one of the most fundamental aspects of estate planning, yet many people do not appreciate its importance. It is an essential document that seeks to ensure your assets are distributed in accordance with your wishes. You will thus be assured that you...

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Tax Saving Strategies

Expenses Expenditure incurred before the company year-end might reduce the current year's tax liability instead of next year's. Bringing forward expenditure by even a few weeks on, for example, building repairs, advertising, sales and marketing campaigns, and any...

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Balancing your Sales (Debtors) Control Account

In a sales control account, the total of outstanding invoices at the beginning of the period and invoices raised during the period, less payments received for invoiced income, will give a balancing figure of invoices still outstanding at the end of the period - your...

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Balancing your Purchase (Creditors) Ledger

In a purchase ledger control account, the total outstanding invoices at the beginning of a period and invoices received during that period, less payments made for invoiced supplies, will give a balancing figure of invoices still outstanding at the end of the period -...

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Balancing your Bank Account

When you enter records of money paid into and out of your bank account into the cash book, there is a delay of at least a couple of days until these transactions are cleared through the banking system and appear on your bank statement. Therefore, the bank balance...

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Do you need an audit?

The turnover threshold which currently exempts most companies and limited liability partnerships (LLPs) from a statutory audit is £10.2 million. In the past, audits were seen as the 'cost' companies had to pay for the privilege of limited liability. Audits provide...

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Entrepreneurs’ Relief

General overview Entrepreneurs' relief (ER) provides relief for disposals by smaller business owners. It results in a tax rate of 10% on the disposal. The relief is available on material disposals of business assets which covers businesses operated as a sole trader,...

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The Tax System for the Self-Employed

Registering with HMRC If you start working for yourself, you must register with HMRC. You can do this at any time up to 5 October of your business’ second tax year. If you do not register you may be liable to a penalty. It is now preferable to register online. You can...

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