Every business should be built and run so that ultimately it works and functions without the full involvement of its owners. When it gets to that stage it can have real value. Please see attached a link to an excellent questionnaire that enables you to assess just how saleable your business is. Please give it a go and feel free to contact us if you would like us to help your business become more saleable. http://sellabilityscore.com/en/#started
Tax advice, accountancy services and business consultancy in Essex and East London
Chelmsford Office
01245 495 588
Romford Office
01708 333 300
Email
info@cbhc.uk.com
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Categories Chelmsford, exit planning
Legislation will be introduced in Finance Bill 2013 to increase the maximum amount of the annual investment allowance (AIA) from £25,000 to £250,000 for a temporary period of two years from 1 January 2013. This means that you will get a full 100% tax deduction on all expenditure on plant and equipment, fixtures, computers, office furniture etc for 2 more years. This excludes any expenditure on cars though.
Categories Advice, tax strategies
Make sure you use your capital gains tax-free annual allowance of £10,600 and consider transferring assets between spouses (or civil partners) to fully utilise annual exemptions.
Categories Advice, tax strategies
Making contributions to employee personal pensions before the end of the tax year is often a very tax effective remuneration policy as there is no national insurance or tax on this and the company gets corporation tax relief on the contributions made. The maximum allowable per employee in any tax year is restricted to the lower of 100% of their relevant earnings or £50,000. Please note that dividends are excluded from relevant earnings in determining how much can be contributed and contributions must actually be paid before the company’s year end.
Contact our wealth management department at: http://www.cbhc.uk.com/wealth-management
Categories Advice, tax strategies
With the tax year end fast approaching you may want to consider VCT or EIS investments to reduce your income tax bill. These are often investments in early stage companies and therefore carry higher degree of risk, however with VCT’s (Venture Capital Trusts) these are often spread across a wider range of companies therefore have a lower risk profile. Well worth speaking to your IFA, or a member of our Wealth Management team for more details, but act fast!
Categories tax strategies
Please see a link below to our latest money clinic newsletter which is prepared speacially for those with businesses in the health sector.
Categories Doctors & health care, managing costs, Specialism
Please click on the link above to download our summary of the Chancellor’s Budget on March 20th. There are some useful measures to help the SME sector and the National Insurance savings of around £2,000 per company may prove to be a help with regard to job creation in a sector which is now the driving force behind the UK economy. The reduction in corporation tax rates to 20% across the board from 2015 will also make the UK’s corporate tax rate the lowest across the major world economies.
Please feel free to call or email us to discuss any asepcts of the budget and how they affect your business or you personally. gary.white@cbhc.uk.com
01245 495588
Categories Advice, tax strategies
It’s that day again already. Please keep an eye on our web site as we will be producing a full PDF copy of all key points within a few hours of the Chancellor’s speech today. I can’t see too many give aways as the austerity measures must surely still continue but we are hoping for some boosts for businesses across the SME sector which is now the real engine room of the economy.
Categories tax strategies, top tips
If you are trading as a sole trader have you considered bringing your spouse/civil partner in as a partner to split income to fully utilise lower rates of tax?
Categories Advice, tax strategies
For those of you who are still trading as a sole trader or partnership have you considered fully or partially incorporating to reduce the tax payable? This is well worth considering with the end of the tax year fast approaching. We find that most businesses save at least £2,000 per annum upwards in tax and national insurance by taking such action. Commercially their businesses give a better impression and also the owners are no longer personally liable for the trading debts of the business. There has to be a very good reason not to take this option.
Categories Advice, Essex Accountancy News, tax strategies, top tips
If you have money invested in your business, e.g. partnership capital or your company owes you money and you have a mortgage on your house consider refinancing to make the interest tax deductible.
Categories Advice, Chelmsford, Essex Accountancy News, tax strategies, top tips
Review the timing of any capital expenditure on plant and machinery you expect to make to ensure Annual Investment Allowance is fully utilised. Remember that the first £250,000 gets a full 100% relief so if you are nearing your year end you may want to accelerate any capital expenditure to make full use of this relief.
Categories Essex Accountancy News, tax strategies
We are delighted to say that the new year has started well for us at CBHC and we are keen to share how we have achieved this success with many of our clients to help them do likewise. One of the reasons for this has been the use of of a new CRM system, salesforce.com and we would recommend this as a cost effective solution in the area of customer relationship management. See the link below and take a free trial to see how you get on. Please feel free to contact Gary White for guidance and more details if required.
Please go to: http://www.crmsuperstars.com/
Categories Advice, Essex Accountancy News
Sponsor the CBHC Movember team
There’s no accounting for style in the CBHC office this month – our team have gone all out to grow (or stick on, in the case of the ladies) the biggest and wackiest moustaches possible. But rest assured this isn’t a new fashion among the accounting elite, but rather a bid to raise as much money as possible for men’s health charity, Movember.
All of the funds raised by our team will be directed to programmes run by Movember, Prostate Cancer UK and the Institute of Cancer Research. These charities support a broad range of programmes all of which aim to raise levels of awareness, education, survivorship and research in the area of men’s health.
The whole team at CBHC is fully behind Movember (even the women, as you can see in the picture!), and we would be delighted if you could show your support too. Donating is easy – simply log on to Movember team page using this link http://uk.movember.com/team/615385, or if you fancy seeing our hairy creations for yourself, simply pop into our reception and place your pounds directly in our collection box.
With thanks,
The CBHC team
Categories Advice, employees, Essex Accountancy News
Thanks to the wonders of modern technology, it’s now even easier to track down the best possible mortgage deals by using our new web tools. Simply hover your cursor arrow over ‘tools’ in the main menu bar above, and you’ll see the dropdown appear, giving you the option of ‘Best Buys’ or ‘Mortgage Finder’.
‘Best Buys’ is a great first port of call if you’re looking to find out the very latest mortgage rates, whether you’re interested in tracker, discounted or fixed mortgage products. Not only is there table of overall top deals, which shows the very lowest interest rated products across all product types, but you can also see at a glance the best deals when it comes to particular types of mortgage, including 2 year fixed, 3 year fixed, 5 year fixed and tracker products.
If you’re looking for a more tailored quotation, then our ‘Mortgage Finder’ should be your next step. Simply enter details of your requirements, including elements such as the property value, deposit amount, and length and type of loan, and let our widget do the hard work. Entering details of the property and your income will help to match the product list to your specific needs, while you can also refine the results by other criteria, for example, if you’re only interested in fixed-rate mortgages or you’re looking to find the deal that is the cheapest over an initial period of time.
Updated daily, so you’ll always have access to knowledge about the best deals, our mortgage finding web tools will help you to identify savings that can be made – but of course, our Wealth Management team of independent financial advisers is always on hand to help you through the mortgage maze. Call 01708 333 310 to speak to a member of the team if you’d like to find out more about how they can help you to save money.
Categories Advice, personal wealth, saving money
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