A recent survey by Sage reveals that SMEs regard accountants as their most trusted and reliable advisers who not only have insight into their businesses but also show an understanding of the broader picture that enables them to offer practical advice and guidance on navigating the economic waters. (more…)
Posts Tagged ‘National Insurance Contributions’
Businesses turn to accountants as their key advisers
Monday, May 10th, 2010Raising finance for your business
Friday, February 19th, 2010Raising finance for businesses following the credit crunch and the recession is challenging to say the least. If you are thinking of expanding your business, or starting a new one, you will need to raise finance. This requires careful planning and good professional advice. It is generally wise to seek financing from a number of finance sources. This will give you greater prospects of funding and flexibility in the long term. (more…)
Raise VAT not national insurance, BCC urges
Friday, February 19th, 2010The government should drop plans to raise national insurance contributions and instead should increase the rate of VAT to 18.5 per cent, the British Chambers of Commerce (BCC) has argued.
The call from the BCC to switch the onus on tax rises from businesses to consumers came on the back of the group’s latest monthly survey of its members.
Extracting profits from a company
Thursday, January 28th, 2010Whether you are considering extraction of profits from a company on a tax year basis or aligned to the company year end, there are a number of issues that should be considered. (more…)
Looking forward – 2010
Thursday, January 14th, 2010Bearing in mind the new high rates of tax on income over £100,000 or taxable income over £150,000 it might be possible to accelerate income into 2009/10 to reduce or eliminate the impact of the new higher rates, by drawing down additional dividends or paying or voting additional salary or bonus.
Accelerating income will, however, have the downside of accelerating the tax payments on that income, but if you are likely to be liable at either 50% or 60% effective rates, then this is worth considering.
The interaction with the new pensions forestalling legislation must not be overlooked, however.
You may consider that pension payments and donations to charity would benefit you more in 2010/11 than in 2009/10, so it may also be worth delaying these. Before making any decisions about pension contributions you will need to take specific detailed advice if your income in 2009/10 or either of the two preceding years exceeds £130,000.
