Friday July 31, 2009

Dear Reader

Tax efficiency & the minimum wage

It's supposed to be summer as I write, though July seems to have been something of a washout. The glorious sun of June seems a long time ago. June was an excellent month for Inca as we achieved our highest turnover month since the business began in late 2002. Thank you to all our clients for their continued support.

If you run your own limited company then it is likely that you are earning a relatively low salary and drawing most of your income via dividends in order to reduce your tax liability. If, like many business owners, you are working more than 35 hours per week, your hourly rate of pay will be lower than the national minimum wage. More...

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Can I avoid preparing P11ds?

Looking ahead to this time next year, the thought of preparing P11d expenses and benefits returns may not fill you with much joy. There are circumstances in which much, if not all, of your reporting can be eliminated. It comes through applying for a dispensation agreement. This would mean that certain types of expenses would not need to be reported. One of the key requirements in being able to achieve a dispensation is having someone other than the employee check and approve the claim. If you are on your own in the business then as a minimum all claims would need to be fully receipted to have a chance of success. To learn more click here...

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Do your accounts mean anything?

So your accountant has just delivered you a beautiful set of accounts filled with lots of numbers, you've signed them off and sent them back. Do you understand what they are telling you about your business and any areas to consider? We'll happily give you a simple overview report, written in plain English informing you what your accounts mean. We would normally charge £99 + VAT for such a service, but since it's summer, we'll prepare this for £49 + VAT for all reports delivered before the end of August 2009. Call me on 0845 644 3579 to discuss, but preferably before 13th August as I'm then away on holiday for 2 weeks and as such I only have time to prepare 10 reports before I go.

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