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3rd March 2017 Overnight Sweeping

Businesses and individuals with spare cash balances can maximise the interest earned on these sums by instructing their bankers to perform automatic overnight sweeping transfers between their current and deposit accounts. High street banks have traditionally offered low or even nil rates of interest on current accounts. It has therefore always been a fundamental cash…

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8th November 2016 Flat Rate VAT

The flat rate VAT scheme is available to any business with annual taxable sales, excluding VAT, of £150,000 or below. Your annual taxable turnover includes standard, reduced and zero rated sales. Once you have joined the scheme you can remain in it until your total VAT-inclusive business income, at any anniversary of joining the scheme, exceeds £230,000.

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8th November 2016 Sage 50 Cloud Accounting

With the speed of internet connections increasing, combined with a reduction in cost, businesses are now considering operating their key software packages ‘online’. Broadband roll-out is nearing saturation point, meaning internet useage is transforming from a variable to a fixed cost, allowing you to ‘cap’ the total spend.

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8th November 2016 Dividends Certified Eligible Remuneration Cost for EU Funding

By using approved CoMAv methodology, Whitings were successful in requesting that the European Commission reconsider their initial ruling that dividends are not eligible for reimbursement on FP7 projects.   Many businesses work on collaborative projects, funded by the EC. These projects are regulated by the notoriously complex EC grant funding agreements. The most recent round…

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3rd March 2015 Running a Sage Year End

Running a year end on Sage Instant or Sage50 is something which you will probably not do often enough to remember the order of events. Let us help you: Post all transactions for the year onto Sage (it does not matter if you also post next year transactions). Reconcile all bank and cash accounts up…

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3rd March 2014 Salary Sacrifice to Boost Pension Funding

As employer funding of occupational pension schemes becomes more expensive and complex, many employers are abandoning this traditional remuneration channel, leaving employees to organise and fund their own retirement income planning. This change in policy will typically be structured by an increased salary, to enable the employee to individually contribute directly into a personal pension…

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3rd March 2014 Buy-to-let Taxation

If you are considering purchasing a residential buy-to-let property, you may not be fully aware of the tax implications. Usually there will be two taxes that you may have to pay. These are, income tax, which is payable each year based on your profit from the property, and capital gains tax, which is payable when…

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10th September 2013 Business Rates Relief

Higher Business Rates for Not for Profit Organisations within East Cambs District. Since March 2012, East Cambridgeshire District Council (ECDC) has been reviewing it’s policy on granting Discretionary Relief on business rates to give assistance to charitable and not for profit organisations that may have difficulty in paying their rates and are of benefit to the…

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3rd March 2012 Business Stationery Disclosures

Under UK company law, all limited companies and limited liability partnerships must disclose the following information on printed and electronic business stationery: Full company/LLP name, Place of registration, Companies House registration number, Registered office address, You may also decide, for commercial reasons, to disclose extra information on business stationery, which may include: Any trade names…

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3rd March 2012 Directors and National Minimum Wage Exemptions

The National Minimum Wage legislation was introduced with effect from 1st April 1999. Since then employers have been required to pay staff at an hourly rate of at least the national minimum wage. These rules are formulated by the low pay commission and are policed by HMRC. HMRC published their interpretation of these rules, which…

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