CBHC LLP – Accountants Essex

How saleable is your business?

CBHC — Fri, 17 May 2013 15:06:34 +0000

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 relief on capital expenditure

CBHC — Wed, 15 May 2013 15:37:17 +0000

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.

Year end tax planning tip

CBHC — Wed, 27 Mar 2013 14:54:54 +0000

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.

Pre year end tax planning tip

CBHC — Tue, 26 Mar 2013 10:23:57 +0000

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

Year end tax planning tip

CBHC — Mon, 25 Mar 2013 09:58:04 +0000

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!

Money Clinic newsletter

CBHC — Thu, 21 Mar 2013 16:23:03 +0000

Please see a link below to our latest money clinic newsletter which is prepared speacially for those with businesses in the health sector.

Money Clinic Private income and expenses March 2013

CBHC Budget summary 2013

CBHC — Thu, 21 Mar 2013 15:43:42 +0000

CBHC Budget update 2013

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

Budget Day today!

CBHC — Wed, 20 Mar 2013 11:01:00 +0000

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.

Tax planning tip

CBHC — Tue, 19 Mar 2013 12:10:41 +0000

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?

Tax planning tip!

CBHC — Mon, 18 Mar 2013 10:26:52 +0000

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.