Believe it or not but there are four different types of National Insurance. And the rules for working out how much to pay are quite different from Income Tax. There is Class 1 which people who are in employment have deducted from their pay. If you have more than one job and earning a decent [...]
At Network 4M a lot of us are mothers so we know what it is like to wake up to find one of your kids with lots of spots. You ask your husband but he has an important meeting – you are not allowed those. Your mother’s phone is on answerphone so things look bleak… [...]
One of the most frustrating experiences in a business is not getting paid. But how do you spot the customers who are going to do the dirty on you? Many small businesses are too informal when giving credit. When you get a new customer make them realise from the start that you do not give [...]
It is all very well preparing monthly accounts in a business to see how well you are doing but that is really only a part of the picture. To get the most out of your accounts, you need to know where you are compared with where you expected to be. Of course that means preparing [...]
If you have children, make sure you have a Will. One of the most important reasons for having a Will is because in it you can appoint a guardian or guardians to look after your children. If both parents die in a car crash and they have not made Wills saying who should look after [...]
If your customers are able to claim back the VAT they pay but you are not registered for VAT, think again! You will not be registered because you bill out less than £77,000 a year. However you can ask permission to register for VAT voluntarily. Why put yourself to that bother? Well, for some people [...]
If you occupy only one business property and it has a rateable value below £6000, you are eligible for Small Business Rate Relief. This means you will pay nothing up to 31 March 2013. If you are in this situation and you are still paying rates, contact your local authority to claim your relief. If [...]
You would not guess it to look at her but it is true. Tamara became a Fellow of the Institute of Chartered Accountants this month. She qualified as a Chartered Accountant some years ago and becoming a Fellow recognises her staying power in the profession. Well done, Tamara.
Every year employers have to send in a yearly reconciliation of what tax and National Insurance they have deducted from employees with what they have paid over to Revenue & Customs. It is called a P35. It has to be sent in to them by 19 May or else there is a fine which for [...]
It has been an exciting start to the year here at Network4M and we are finally able to unveil our new look website. We would like to welcome you to our new Blog. We aim to provide you with up to date accountancy related information which we hope you will find useful in the day [...]