Make use of ISAs to save tax now
Individual Savings Accounts (ISAs) are tax-efficient savings and investment accounts that offer a range of advantages to individuals who wish to grow their wealth ISA allowances are an important aspect of managing how you use these accounts. Therefore, a reminder to utilise ISA Allowances is often issued in February or March to coincide with […]
Tax E-Newsletter – May 2024
Welcome to the May edition of our Tax newsletter. We hope that you find this informative. Please contact us if you wish to discuss in more detail any of the points highlighted. WANT TO BE PART OF BETA TESTING OF MTD FOR INCOME TAX? Although making tax digital income tax self assessment (MTD ITSA) is […]
Dividend or salary – or both to extract funds from your company
What is the most efficient method of extracting funds from your company? As a director of your limited company, you are not allowed to simply keep the profits in the same way that a sole trader does. Instead, you will need to decide how much to pay yourself. The choice between drawing a salary or […]
Contextual Pricing
A variable pricing model can help to strengthen customer relationships. Contextual pricing involves adjusting the prices of your products or services depending on specific variables which are often external to the business. These external variables could include customer demographics, purchasing behaviour, economic conditions or competitive landscapes. Unlike static pricing models, which set fixed […]
Pay Now buttons in your accounting software
It is possible to add Pay Now buttons to your invoices from many accounting software packages to give customers a quick and easy option to make payment. You can accept online payments by credit card, debit card or direct debit straight from the invoice, reducing the time spent chasing payments and increasing the likelihood of […]
Training, Education, Presentations
Do you need a meeting or write down lengthy notes? How do you show someone how to do something on your PC, and do they remember it, or do you need to show them again (and again)? Do you write manuals or instruction guides, perhaps with screenshots? Why not record a video of the screen […]
Fulfilling demand
If the pie’s not big enough, make a bigger pie. Fulfilling customer demand is the primary objective for any business. It involves accurately anticipating customer needs, ensuring product availability, and delivering goods or services in a timely manner. Meeting demand not only enhances customer satisfaction but also contributes to brand loyalty and positive word-of-mouth […]
National Living and Minimum Wage
The National Living and Minimum Wage increased on 1 April 2024 for around 3 million workers in the UK. The new rates apply to everyone and are different based on your age, including whether you are in an apprenticeship role. It doesn’t matter if you’re in a full time, part time or […]
Strategy – choosing what not to do
The essence of a good business strategy is choosing what not to do. Resource allocation is a fundamental consideration in any business strategy. Businesses operate within finite constraints, such as time, finances, or human resources. Choosing what not to do enables a more focused allocation of resources towards activities that align with the overarching […]
The Budget and VAT
From 1 April 2024, the VAT registration threshold and deregistration thresholds each increased by £5,000 to £90,000 and £88,000 respectively. The thresholds had previously been frozen at £85,000 and £83,000 since 1 April 2017. According to the government, this will mean 28,000 businesses will no longer be VAT registered in 2024/25. In some […]