The Robin Hood of the ages?!

With just under a week until the Autumn budget what are we likely to see from this year’s?! In the words of Matthew Lynn, a journalist for the Telegraph Business, it’s becoming a bit like the first world war. An assault each autumn, all the while neither side seem to be getting anywhere, other than getting even more stuck in the mud. Let’s not forget this is the penultimate budget pre-Brexit so the pressure does seem to be on for old Phillip. It’s all about the Young’uns It’s been no secret that in the most recent election the majority of [...]

By |November 16th, 2017|Blog|

Forming A New Charity: Where to start

Many people start charities because of experience, maybe you would have needed help at a certain point in your life but it wasn’t available, so now you’re making a difference to others. Or simply, you might just be one of those angels sent from above. Either way, when you’re trying to tap into the public sector’s wallet all you seem to get is a bunch of moths. Unfortunately, it’s the way of the world now and because of this, not-for-profit organisations make a hugely positive impact on so many lives. You probably know by now, I hate being the bearer [...]

By |September 13th, 2017|Blog|

It’s my company, but how much can I pay myself?! 

With the school holidays over (finally!!) Its time to get back into the swing of things. But do you know what funds you are taking from your business and how you plan to do it!? For many, September is almost like a second new year. I don’t mean in terms of the financial year, but it’s the time you get back on track and start fresh. People start heading back to the gym and getting into a normal routine again. One of the most common questions I get asked, mainly from new start- ups, is ‘how much can I take [...]

By |September 8th, 2017|Blog|

August Feature- Strawberry Too : Juicy with a berry unique approach.

With exam results still fresh in the minds of the students currently recovering from their hangovers and the new Bondholders’ ‘where it begins’ campaign kicking off this month, we knew exactly who we wanted as our August feature blog. The little sister of the renowned digital marketing company Strawberry – who sit proudly at C4DI, Strawberry Too is just as sweet. As you know, I’m an accountant, not a writer and so I don’t think there is anything I could write that would do an organisation like Strawberry Too the justice they deserve. When we think of that little red [...]

By |August 30th, 2017|Blog|

VAT – Passing the Baton (Disbursements and Recharges)

If you make a payment on behalf of a customer for goods and services used by them, you may be able to treat them as ‘disbursements’ for VAT purposes. But what is a VAT disbursement? The definition of a disbursement, in simple terms, is a payment you make to a supplier for a customer and then pass the cost on to them (via an invoice) You may be able to leave these payments out of your VAT calculations because it is the customer (not you) who buys and receives the goods / services. See it as you acting as an [...]

By |August 23rd, 2017|Blog|

Class 2 and Class 4 NIC : The Reform

Being self-employed was becoming less popular with all the advantages around dividends and tax efficient ways of withdrawing funds from limited companies. But with the increase in dividend tax and a reduction in tax free dividends, we don’t know what is round the corner - soon may see an increase in self-employment again.   The government has a plan. As always, it’s not set in stone. But the plan is to abolish Class 2 National Insurance contributions from April next year. But we all know what these plans are like, with 8 months to go, it’s clear, its concise and [...]

By |August 17th, 2017|Blog|

Zero Rated Vs Exempt VAT

Exempt, Zero Rated, No VAT – It’s all the same right?! Wrong. Don’t get stung because of a little misunderstanding. I recently read an article about the differences between exempt and zero rated VAT and it got me thinking that they seem to be much of a muchness. It wasn’t till I read the story of a guy who sold motorbike equipment - who got a whopping tax bill (over £25K) - did I realise the severity of not understanding the terminology. In this particular story he assumed all his sales were exempt, safety equipment is (and rightly so) but [...]

By |August 9th, 2017|Blog|

Changing The Way You Give To Charity

Following on from such an overwhelming community feeling on Sunday at the Hull 10km run, we figured you may want to know how you can give tax efficient charity gifts. Gift Aid Let’s start easy, you’ve all heard of it and probably hesitated with the pen wondering if you tick the box at the bottom of a donation slip or side of a sponsorship form. If you pay tax, tick the box. It’s that simple. It won’t cost you an extra penny and will be worth 25% extra to the charity. Written declaration must be made if gift aid is [...]

May Feature: RSPCA – Hull

Royal Society for the Prevention of Cruelty to Animals Charity Number 232225 Built almost 80 years ago and added onto over the years, the needs today for the iconic Clough Road building are a world apart to those in 1938. You’ll have all heard of the RSPCA, national campaigns on the TV and the charity shops scattered across the country. But did you know the Hull branch rely on around 50 volunteers to ensure they can keep providing an excellent service. What a lot of people don’t realise is that each branch is almost a separate entity to the national [...]

The Conservative’s Manifesto: Will it make you Blue?!

(Part 3 of a 3 part blog series) The Conservative party were the final of the three main contenders to reveal their manifesto. The early bird catches the worm… The second mouse gets the cheese… But does slow and steady win the race? The manifesto began by describing a plan through Brexit to build a stronger and fairer Britain. I mean, Theresa doesn’t strike me as the type you would find pumping iron in the gym but the word ‘strong’ became a tedious read. 30 times on the first 10 pages!! Income Tax Firstly, they are sticking with their commitment [...]