Monthly Archives: May 2014

7 Questions to ask when choosing your accountant

Are you a member of any professional body? Unlike other professions, anyone can open an office and call themselves an accountant, no training or qualifications are required!  There are many unqualifieds out there, I suspect that many of their clients don’t realise they are unqualified!  You wouldn’t go to an unqualified doctor, so why take a risk with your financial Continue Reading
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Tax anomalies

Institute for Fiscal Studies director, Paul Johnson, recently spoke at the annual Chartered Tax Advisor Address. He pointed out a number of the unnecessary complications and policies that have left the UK tax system more complex and less efficient. “For example: There is a basic rate of income tax of 20%, a higher rate of 40% and a top rate Continue Reading
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Why it’s important to plan

Consider this case study: Bill Smith, a self-employed electrician, purchased a brand new van 15 March 2014 for £18,000. Due to a downturn in the local economy his trading profits for the year to 31 March 2014 were just £9,400. Fortunately, he had secured a number of regular contracts for the following year that should net at least £30,000 in the Continue Reading
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