Seeing as we have a brand new name, we thought it was as good a time as any to tell you the story behind our original name. Back in 2004, Tamara, Susy and Maurice decided to join together to set up a new style of accountancy practice with the emphasis on providing a comprehensive service [...]
As you are probably aware, from April 2013, HMRC are changing the way employers report payroll information. Rather than sending information at the payroll year end, information must now be reported in real time. This means sending details to HMRC every time you make a salary payment to an employee or director at the time [...]
Break the basic rules on credit control and you soon lose out. But we are all guilty of lapses. What are the basic rules? Don’t give credit unless you really have to. If someone wants credit, get them to provide two trade references. Keep the credit period short. There is nothing magic in 30 days [...]
There are not many things you can spend on these days which get you tax relief. Pensions have to be one of the best investments around and you get tax relief on what you put in – subject to certain restrictions. You can get relief on what you put in subject to a maximum of [...]
When you get to sell your business, you will hopefully be able to pay tax on the profit you are making at 10%. This is because of Entrepreneurs Relief which is available through the Capital Gains Tax legislation. However there are some issues to watch. The gain subject to 10% is limited to £2million. It [...]
From this year a lot of people will no longer be entitled to Child Benefits. But, if you are a new mum, just because your partner earns over the current limit of £50,000 a year, does not mean you should not claim. Claiming for Child Benefit means the years for which you qualify for Child [...]
If you are a director of a limited company then there are three options open to you on income tax. The company could buy or lease the car and pay for all the running costs and fuel. Then you get charged to tax depending on the particular make and model of the vehicle. Or you [...]
Wishing you all a very Merry Christmas and a Happy New Year. Please note that our offices will be closed from Monday 24th December and reopening at on Wednesday 2nd January. If you need to contact us urgently through this period, please email info@network4m.com and we will respond to your message as soon as possible.
Some people have the mistaken impression that you cannot get any VAT back on meals. That is because you cannot get the VAT back on entertaining UK clients. However this restriction does not apply to subsistence. So if you are the owner of a business and working more than 5 miles away from your business [...]
Every type of work or business has its own form of jargon. Accountancy is particularly bad in this area. A typical set of accounts will include expressions such as Gross Profit, depreciation, fixed assets, debtors, creditors, net assets etc. If you feel you do not understand what you are reading, it is not your fault. [...]