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Entries by admin1

ROBUST BUSINESS PLANNING KEY IN BOOMING TECH SECTOR

For every quick growth success story in the tech sector there are numerous failures with cash flow and under-capitalisation cited as key challenges. Chartered Accountant Chris Langrick talks about the importance of robust business planning, HMRC schemes and funding options to allow ideas to flourish There has never been a better time to be a […]

GLOBAL SHIPPING SPECIALISTS APPOINT LANGRICKS AS ACCOUNTANCY PARTNERS

Wilmslow-based international shipping and freight forwarding business Banks & Lloyd has gone local for professional accountancy services and appointed neighbouring business Langricks. The decision follows the successful completion of a management buyout last year, led by Managing Director Vincent Verzijl and the need for a fresh accountancy perspective to support an exciting new era for […]

COMPANIES FALL FOUL OF NONSENSE RULES IN MINIMUM PAY WRANGLES

Chris Langrick FCA,  Director at Langricks Chartered Accountants & Business Advisers, says recent naming and shaming of big companies for technicalities around how minimum wage is applied is a tough gig for the leisure sector. You may have read in the media over recent weeks about some large companies, particularly in the leisure sector, being […]

Cash is King – how to manage potential risks and surprises.

Cash is king is a phrase that most business owners will have heard of.  The recent demise of Carillion highlights this on several levels – primarily for them as a company as the executive team were unable to secure additional financial support, but more importantly for the many suppliers who will now be feeling the […]

Langricks Make Key Appointments in Push for Growth

Andrew Milnes has come on board as a non-executive Director to help develop and improve the business,  after owning and growing Hurst Accountants – a similar independent accountancy company – to a top 100 firm, now operating out of offices in Manchester and Stockport. Mike Bowker has been appointed to Director from Associate Director to boost day to […]

Have you filed your paper tax return?

The deadline for filing paper tax returns for the year April 2016 to April 2017 is 31 October 2017.  However if you received a notice to file a tax return after 31 July 2017 then you must do so within three months of the notice’s date of issue. If you do not get chance to file […]

Deadline looming for paper tax returns

The deadline for filing paper tax returns for the year April 2016 to April 2017 is 31 October 2017.  However if you received a notice to file a tax return after 31 July 2017 then you must do so within three months of the notice’s date of issue. If you don’t get chance to file your […]

Making Tax Digital – the Revised Deadlines

Among the welcome announcements in the Spring Budget was the delay in requiring sole traders, partnerships and landlords to report income and expenses quarterly to HMRC under the Making Tax Digital initiative. The delay of one year from April 2018 to 2019 affects a large number of small businesses and landlords with annual turnover below […]

What Does the Future Hold for Tax Relief on Pension Contributions?

Currently, making pension contributions is an effective way to reduce tax liabilities  – particularly for high earners. Pension contributions currently attract tax relief at up to the highest rate of tax you pay. The government automatically adds 20% of your contribution to your pension. So, for every £800 you pay in, £200 is added to […]

R&D Tax Credits to Become Easier for Small Businesses to Claim

HMRC believes that many smaller businesses are missing out on R&D tax credits that they could be claiming. From our experience with technology and internet businesses we have certainly seen many opportunities for claims where research and development expenditure has been incurred. Some businesses assume, wrongly, that work they are doing to bring innovative solutions […]

Major Changes to Flat Rate VAT Scheme from April 2017

If your business is using the flat rate VAT scheme (FRS) you need to be aware of significant changes being introduced from April 2017. HMRC will increase the VAT flat rate to 16.5% across the board where users of the FRS fall into the category of being a ‘limited cost trader’. A limited cost trader […]

Get Ready for the Northern Powerhouse Investment Fund

Details were recently announced of the £400m Northern Powerhouse Investment Fund. The fund aims to provide capital to support the growth of SMEs across the North of England, at all stages of their development. The funding will be a mix of debt and equity capital available as: Microfinance (£25,000 – £100,000), Business Loans (£100,000 – […]

Auto Enrolment Thresholds for 2017-18

The DWP recently confirmed the thresholds that will apply to auto enrolment pensions from April 2017. The main qualifying threshold at which employees should be automatically enrolled will be maintained at £10,000 per annum. The lower limit of the qualifying earning band (the amount at which you must start contributing to an employee’s pension) will […]

How to Secure the Best Terms when Refinancing your Business

Before even thinking about the best option for refinancing your business you should take a calm and dispassionate look at why you think it’s necessary. Positive reasons will include an injection of capital to invest in new equipment or premises needed for expansion. Here, you need to be confident that the extra business will generate […]

Is Buy to Let Doomed? Not Necessarily.

Recent and planned changes to tax arrangements for second homes and buy to let landlords look set to make the practice much less attractive – at least for higher rate taxpayers. We have already seen increases to Stamp Duty Land Tax (SDLT) for second homes, where an additional 3% is added to each of the […]

Autumn Statement – What does it mean for your Business?

Several announcements in the Autumn Statement 2016 will have a predictable and short term impact. These include the following: The National Living Wage will rise to £7.50 from April 2017 The personal tax allowance will be £11,500 from April 2017 As widely predicted, tax savings on salary sacrifice and benefits in kind will be stopped, […]

Autumn Statement – Salary Sacrifice Schemes Set to be Hit

As Chancellor Hammond attempts to plug a widening gap in public finances it seems certain that salary sacrifice schemes will be hit in the Autumn Statement. Under these schemes employees forgo some of their salary in return for a benefit, which can be anything from gym membership to a mobile phone. Currently, employees pay no […]

Businesses Look to the Autumn Statement for Reasons to be Optimistic

The Q4 ICAEW UK Business Confidence Monitor (BCM) shows that, despite some good news for exporters, the confidence levels of many UK businesses remains low.Uncertainty is never good for confidence and there are still many unanswered questions about the form and implications of Brexit. Confidence is also affected by the prospect of consumers losing spending […]