Accountancy for growth

tel: Huddersfield: 01484 685413 Leeds: 0113 357 0380


Are you an accountant looking for an exciting job opportunity?

We are looking for someone with at least 5 years’ experience of preparing year end accounts in a professional accountancy practice. If you have the necessary experience and are feeling undervalued, frustrated and without opportunity in your current role then Balance Accountants may have the job for you. The candidate should be experienced in accounts […]

Posted on: April 4th, 2019 by Austen | | Categories: Uncategorised

Making Tax Digital – Update

Completing VAT Returns Digitally Reporting of VAT goes digital from 1st April 2019. This is the first of the stages HMRC have put in place to take the tax affairs of individuals and businesses in the UK into the digital age. It will affect all businesses with a turnover of £85,000 or more (although some […]

Posted on: March 21st, 2019 by Austen | | Categories: Uncategorised

Pension Tax Charge – could you receive a surprise tax bill?

The Pension Tax Charge can cause a surprise tax bill of up to £13,500 or as much as £13,800 for Scottish resident taxpayers. Any individual can make pension contributions of £2880 net or 100% of their relevant UK earnings but must be aware that this is limited by the annual allowance and that relevant earnings […]

Posted on: March 8th, 2019 by Austen | | Categories: Uncategorised

Increase in Personal Tax Allowances

When the budget statement was delivered at the end of October 2018 the main headline was the increase in personal tax allowances happening one year early. Higher tax allowances mean slightly more income is received tax free and it is that tax free amount which gives a saving. For someone earning below £46,384 this tax […]

Posted on: November 29th, 2018 by Austen | | Categories: Tax

Utilising Trading Losses

It’s never good to make a trading loss but, in some years, circumstances may cause this situation to arise. If an individual or a partner in a trading partnership makes a trading loss there are a number of possible silver linings. The rules for how trading losses get relief work differently for Income Tax, Tax […]

Posted on: August 31st, 2018 by Austen | | Categories: Uncategorised

Final chance to enter a childcare voucher scheme

The deadline has been extended for employees (including directors) to enter into a salary sacrifice arrangement and receive employer supported childcare vouchers. In some circumstances these vouchers will save more tax than if the parent opened a Tax Free Childcare account. The savings differ from family to family depending on the exact circumstances and the […]

Posted on: August 16th, 2018 by Austen | | Categories: Funding, Payroll

Beware! Latest HMRC Tax Refund Scam

An official warning has been issued to taxpayers about fraudsters who are masquerading as HMRC to trick people into thinking they have received a tax rebate. As HMRC processes genuine tax refunds for the 2017/18 tax year, fraudsters are sending scam messages which claim that taxpayers are entitled to a rebate, and request that they provide […]

Posted on: June 8th, 2018 by Austen | | Categories: Paying Tax

Use your time wisely – make your internal business meetings matter

How do the internal meetings that happen within your business make you feel? Are you concerned that they seem to be ineffectual, unnecessary and only happen by habit? According to a 3M Meeting Network survey of managers, 25-50 percent of the time people spend in meetings is deemed as time wasted. Effective internal meetings result […]

Posted on: April 20th, 2018 by Austen | | Categories: Uncategorised

Business Changes Afoot in April 2018

National Living Wage and National Minimum Wage rates to increase From 1 April 2018, the national living wage for employees aged 25 and over will increase to £7.83 per hour. The national minimum wage will increase to £7.38 per hour for workers aged 21-24, and to £5.90 an hour for workers aged 18-20. For workers […]

Posted on: March 29th, 2018 by Austen | | Categories: Uncategorised

Relief for landlords with business mileage

Until 2013 a fixed rate deduction was available however, this concession was withdrawn and landlords were forced to claim the actual motoring expenses incurred together with an allowance for the capital depreciation of the vehicle. From 6th April 2017 unincorporated property businesses can claim a fixed rate for the mileage travelled on property letting business. […]

Posted on: March 20th, 2018 by Austen | | Categories: Uncategorised

Salary Sacrifice Benefiting Employers and Employees

The cost of employing an individual includes both employers and employee’s national insurance contributions (NICs). Employers pay 13.8% on the salary paid and the employee pays 12% after an initial NIC free allowance. As employers now have a duty to make pension contributions for their employees it may be worth employees considering salary sacrifice to […]

Posted on: February 9th, 2018 by Austen | | Categories: Uncategorised

What can Michael Jordan teach your business about the right mindset?

Creating a growth mindset in your business will enhance motivation and productivity. It has also proved to be successful in the worlds of education, and sport. Take Michael Jordan – he is the most successful Basketball player EVER! He helped his team The Chicago Bulls win the NBA championship 6 times and was the NBA […]

Posted on: February 2nd, 2018 by Austen | | Categories: Uncategorised

Abolition of Class 2 National Insurance Contributions Delay

May self-employed individuals will have been understandably disappointed with the announcement in the 2017 Autumn Budget of the delay in the abolition of the “stamp” for a year until April 2019. However this is possibly not as negative as you may have first thought. Th Class 2 NIC is currently £2.85 per week rising to […]

Posted on: January 18th, 2018 by Austen | | Categories: Payroll

Annual Tax on Enveloped Dwellings (ATED)

  As interest rates rise and tax relief for rented properties falls, many owners are considering the benefits of incorporating their property portfolios. If you have a number of properties and the portfolio is run as a business this may well be a sound idea, however, a 3% Annual Tax on Enveloped Dwellings (ATED) will […]

Posted on: January 5th, 2018 by Austen | | Categories: Property, Tax

Value Based Pricing

A value-based pricing strategy is one which sets prices primarily, (but not exclusively), in line with the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or historical prices. Value-based pricing is not about racing to the bottom along with your competitors. It’s […]

Posted on: December 21st, 2017 by Austen | | Categories: Uncategorised

Job Vacancies at Balance Accountants

*Positions are now filled*   Would you like to become part of an exceptional team working within a modern, proactive and successful firm of Chartered Accountants? If that is you then now is your chance! Please see below details of our current job vacancies. Bookkeeper – Full time or Part time We are looking for an […]

Posted on: December 12th, 2017 by Austen | | Categories: Uncategorised

Optional Remuneration Arrangements

Many employees will have heard the term salary sacrifice and this has become increasingly popular over the years with employees sacrificing amounts of salary in exchange for benefits. These benefits typically save the employee tax and class 1 National Insurance on the amount sacrificed and were used for anything for the purchase of laptops and […]

Posted on: December 8th, 2017 by Austen | | Categories: Payroll

How can camels help you become better at negotiating?

You know how important successful negotiation is to your business and that successful negotiation is a method by which people settle differences. Ideally this process will mean that all parties reach a compromise or agreement while avoiding argument and dispute. So why do so many of us find it hard to negotiate well? And why […]

Posted on: November 30th, 2017 by Austen | | Categories: Uncategorised

How to be an Effective Manager

Not all managers are created equal. There are plenty of good managers and then there are great managers. Here are some key points on how to be a better manager: Mistakes are an opportunity to learn When a member of your team makes a mistake, use it as an opportunity to work with that person […]

Posted on: November 23rd, 2017 by Austen | | Categories: Uncategorised

Possible changes to the tax rules for dividends in January 2018

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers there will be more tax to pay on those dividends on 31 January 2018. Up until 5 April 2016, the 10% dividend […]

Posted on: October 30th, 2017 by Austen | | Categories: Uncategorised

Social Investment Tax relief – Impact Investing

Social Enterprises are businesses which trade partly or wholly for social purposes, famous examples are the Big Issue, the Eden Project and FairTrade products and are found in many sectors of the UK economy. Local communities often set up a social enterprise business to maintain local services, for example the local library, post office or […]

Posted on: October 24th, 2017 by Austen | | Categories: Uncategorised

Use this 4-part checklist and make more profitable decisions in your business

In their book Decisive – How to make better decisions Chip and Dan Heath put it simply: ‘When it comes to making decisions, it’s clear that our brains are flawed instruments. Whether we rely on complex analysis or gut reactions, the results are about the same’ So, it pays to ‘catch yourself on’ and sense-check […]

Posted on: September 25th, 2017 by Austen | | Categories: Uncategorised

Rent-a-Room Scheme

Budget 2017 announced that the Government intends to review the rent-a-room scheme, but it currently remains a tax-efficient way of letting out a spare room. The Rent-a-Room Scheme allows owner occupiers and tenants to receive tax-free rental income if you provide furnished accommodation in your only or main home. The current annual Rent-a-Room limit is […]

Posted on: September 13th, 2017 by Austen | | Categories: Property, Tax

Book Your Free Place Now! Balance Legal Services Legacy Planning Seminar

Is your loved ones inheritance at RISK? Peace of mind comes from knowing that the what if’s in life have been taken care of. Knowing that the inheritance you leave behind is dealt with according to your wishes and protected for future generations. At Balance Legal Services our aim is to provide certainty and protection through […]

Posted on: August 25th, 2017 by Austen | | Categories: Uncategorised

Warning! Fraudsters claiming to be from HMRC

It has been brought to our attention that some of our clients have recently been contacted by fraudsters claiming to be from HMRC. This particular scam seems to be targeting the elderly and vulnerable by leaving a voicemail which victims call back on the number provided, and are told they owe outstanding debts or unpaid […]

Posted on: August 23rd, 2017 by Austen | | Categories: Uncategorised