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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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Until 2013 a fixed rate deduction was available however, this concession was withdrawn and landlords were forced to claim the actual motoring expenses incurred together with an allowance for the capital depreciation of the vehicle.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. […]
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 […]
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 […]
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 […]