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Entries by admin1

Tips for managing VAT returns 

VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them. When setting up a new business, VAT accounting can be complicated. However, if you have the right processes in place things will run smoothly and efficiently.   To help we share some information […]

Benefits of outsourcing your payroll 

Payroll is a crucial part of running a business and needs to be carried out correctly. Not just to make sure you are legally compliant, but for the benefit of your biggest assets, your employees. Your employees expect it to be right each and every time.  Payroll’s basic procedures can be difficult and time consuming for […]

How to get the most out of your accountant 

An accountant helps an organisation to stay in full control of its finances. Businesses that hire a good accountant can often benefit from a wide range of accountancy services, which can help to save money and reduce workload. Whether your accountant is carrying out tax compliance work or producing your annual accounts, being prepared will ensure they can carry out the […]

Tips for personal retirement planning

Retirement planning – the sooner you start, the easier it will be to achieve your dream retirement. It’s never too early to start planning for the future, a retirement plan will be different for each and every person so should be tailored to your individual circumstances and requirements. When you are planning your retirement, there […]

Tips for pension planning

Pensions advice and tips Having a plan in place for retirement can give you peace of mind when planning for the future. Whatever your age, it’s never too early to start planning and considering how much you’d like to save for when it comes to your retirement. Pension planning is important to ensure you benefit […]

Recommendations from the OTS on making Capital Gains Tax more understandable

Further recommendations from the OTS on making Capital Gains Tax (CGT) more understandable and “user friendly”. Last month (May 2021) the OTS followed up their first report on CGT (November 2020) with a 2nd paper on “key practical, technical and administrative issues”. Coming in at 125 pages long this 2nd report is not short of analysis […]

Part-qualified or qualified accountant

Langricks Limited is a friendly and growing accountancy practice based out of 2 beautiful offices, one in Wilmslow and one in Holmfirth, we are recruiting for our Wilmslow office. Although we are based out of fairly provincial locations, our level of clientele does not reflect this. We have a very diverse book of clients from small […]

The importance of management accounts

Management accounts vary significantly from business to business and should be personalised for the needs of the stakeholders. Effective management accounts can help to provide information that can support important business decisions and they can be useful to help gain control of your finances and support the growth of your business. Not all businesses need […]

Avoid the Inheritance Tax trap

It remains a bit of a cliché that Inheritance Tax (IHT) continues to be everyone’s most hated tax when only 4% of estates actually end up with an IHT liability following the passing of a loved one. Clearly, due to the complicated rules and regulations around IHT there is a bigger fear of the tax […]

Pre-Year End Checklist 2021

We’ve put together this pre-year end checklist of areas where you could benefit financially. 2020/2021 ISA allowance  Have you or your family made your maximum ISA contribution of £20,000 per adult or £9,000 for children for 2020/21? Pension contributions Have you utilised your Annual Allowance for pension purposes  (up to £40,000, as well as using […]

Langricks unveils new look website

We’re pleased to reveal our new look website which showcases our extensive range of services for helping organisations and individuals grow and save money. At Langricks we pride ourselves on delivering the services our customers need. This new website was created to make it easier for visitors to see exactly the areas where we can […]

What to look for when choosing an accountant

Looking for a new accountant can be a minefield so we’ve put together some top tips for helping you when choosing your new accountant. 1) Is location important to you? Having an accountant that is local to you can have many advantages that go beyond convenience, however with the continued improvements in technology, communication is now […]

Money Skills For Life

Every day, millions of people struggle with debt, many of whom have never been taught how to manage money. While there is some financial literacy teaching in secondary schools habits are formed much younger according to experts at DebtAware – the education arm of the national charity – Debt Advice Foundation. With 64% of children […]

HMRC are looking into cases of furlough fraud, here is how you can make sure you are covered

The first amnesty deadline for repaying overclaimed amounts through the Coronavirus Job Retention Scheme has passed and HMRC are now looking into cases of furlough fraud, it is therefore critical that businesses retain proper records of past and future claims should they come under scrutiny.  The first deadline was 20 October 2020 in respect of claims […]

Are You Ready for Brexit?

Imports and Exports The UK/EU withdrawal agreement expires at 11pm GMT on 31 December 2020. After that date, the UK will become a separate customs territory from the EU. This means that from 1 January 2021, all imports and exports of goods to and from the EU will become subject to customs procedures, both in […]

Spread out tax payments with the government ‘Time to Pay’ scheme

As recently announced by the Chancellor, self-assessment taxpayers can now apply online through the government gateway to spread the cost of their tax bill into monthly payments without the need to contact HMRC directly.  With an increase to £30,000 for self-assessment customers, this so-called ‘Time to Pay’ service is to assist with Covid related financial pressures. […]

Times are tough but we will break through and come back stronger

SMEs have been hit hard during the recent pandemic. The media reading is depressing for many business owners at a time when we need to be positive. The statistics are horrendous – it is expected that 2020 will see the largest annual drop in GDP since 1921.People claiming unemployment benefit rose 69% from March to April – […]