Archives for Business Start Up

Starting Up – books for new businesses

  When you are starting up a business there’s a lot you need to know. Our books have been written to give you all the information you need in an easy-to-follow format that will set you off on the right foot and keep your business fully compliant with all the regulations that affect it. Both are available on Amazon for just £25.00.   Setting Up Your Limited Company A step-by-step guide to financial success and compliance This book is for directors of limited companies and covers: Incorporating a limited company Setting up a bank account Responsibilities and deadlines Paying directors and shareholders
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Beware this company registration scam

We need to thank a couple of our new clients for alerting us to a trick that is being played on unwary directors of new limited companies in an effort to part them with £190 – quite unnecessarily. The new companies’ names have been acquired by an outfit going under the name of the Register of Companies and Businesses who contact them with a letter in an official sounding tone of voice. They use language like “On 28/05/2015 an entry into the Companies House was made.” All quite true – that’s where they’ve got the contact details from in the first
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Setting Up Your New Business 2014/15 – our book for new businesses

Setting Up Your New Business – A step-by-step guide to the financial practicalities of starting up   After the success of last year’s edition, we’re pleased to announce that the updated 2014/2015 edition of Setting Up Your New Business is now available. This easy-to-read, easy-to-understand book is designed to be a practical guide to all the financial practicalities and their implications of starting up a new business. The 2014/2015 edition includes all the most up-to-date facts and figures from HMRC and includes helpful worked examples to demystify the decisions you need to make. Linda says:”Over the years that I’ve run
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Start up loan scheme for young entrepreneurs

David Cameron has announced a boost to the government’s Start-Up Loans Scheme, with funding being increased by £30 million to £110 million over three years. The upper age limit for applying will also be extended from the current 24 to 30 years old. Start-Up Loans provide entrepreneurs with a range of support to get their business idea off the ground which includes access to a business mentor as well as funding of approximately £2,500. To apply for a loan visit http://www.startuploans.co.uk/
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A simpler tax system for small businesses

The Chancellor is to proceed with proposals to make the tax system simpler for small unincorporated businesses from April 2013. Where a business has a turnover up to £77,000 it will be able to calculate its profits on a simplified cash basis. In addition it will not have to distinguish between revenue expenditure and capital expenditure. A business will be able to continue to use this basis until its turnover reaches £154,000. Flat rate expenses will be available for some types of expense including: Cars, vans and motorcycles For cars or vans the rate for the first 10,000 business miles
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HMRC Business Records Checks are back!

The suspension is over. HM Revenue & Customs (HMRC) has relaunched its Business Records Check (BRC) initiative today. The purpose remains the same. HMRC intends to check the adequacy of business records being maintained by Small and Medium sized Enterprises (SMEs), but the process has changed. HMRC now intends to: Write to those SMEs selected for a BRC. Telephone the selected SMEs to talk through their business record keeping. The call is expected to last 10 – 15 minutes. Based on the responses received, HMRC will then: Assess whether a face to face BRC visit is required. If the business
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Online Starting In Business Tax Guide

HMRC have been working with interested parties to produce a ‘Starting your own Business’ e learning tutorial. To access the tutorial, visit the link below. Internet link: HMRC e learning tutorial
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HMRC issue guidance on IR35

HMRC have released guidance setting out their risk-based approach to checking compliance with IR35. The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. The rules do not stop individuals selling their services through either their own personal companies or a partnership. However, they do seek to remove any possible tax advantages from doing so. The tax advantages mainly arise by extracting the profits of the company by way of dividend. This avoids any national insurance contributions which would generally have been due if that profit
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Enterprise research centre

The government has announced proposals to introduce a new independent £2.9 million Enterprise Research Centre which will look at investment strategy for SMEs. The Enterprise Research Centre will help develop a greater understanding of the factors affecting business investment, performance and growth. It is a joint collaboration between the Department for Business, Innovation and Skills, the British Bankers Association, the Economic and Social Research Council and the Technology Strategy Board. Business and Enterprise Minister Mark Prisk, said: ‘The Government is committed to boosting enterprise and giving entrepreneurs the right environment to be successful and grow. We are creating a network
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Time to ‘Phone a Friend

Over the last four months you might – or you might not have – realised that Business Link, the support service for businesses, disappeared – the victim of the government’s public sector cuts. No longer can growing businesses go to Business Link for advice or one-to-one consultations. Now, all you can access is a Business Link website. Not much help if you’re looking for someone to talk to.  So, now that one less option is available to businesses looking for support, where do business owners go for that essential piece of personal advice? Participants of the UK Business Barometer (UKBB)
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