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Limited Company – the Pros and Cons of Incorporation

When considering the most appropriate and advantageous structure for a business, it is important not to focus purely on the headline direct tax position, although of course this is a significant consideration. Apart from the annual corporation tax/income tax...

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Can I claim for my motoring costs?

You can claim ‘allowable business expenses’ for vehicle insurance, repairs and servicing, fuel, parking, hire charges, vehicle licence fees and breakdown cover. You can not claim for non-business driving or travel costs, fines or travel between home and work There are...

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Can I claim tax relief on what I wear for work?

There seems to be a lot of confusion when it comes to what can be claimed as workwear/clothing costs when it comes to most businesses.  The simple HMRC rule basically boils down to if the item of clothing can also be worn for non-related work occasions, tax relief...

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Making Tax Digital for VAT

Making Tax Digital for Business (MTDfB) is the government’s policy to move ALL business-related tax reporting online for a modern, digital tax system. The objective is to make tax reporting more accurate, more reliable, and more efficient. Making Tax Digital for VAT,...

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12 focus areas for any business start up

There are many areas for a new business owner to focus upon and of course there are many views or opinions on what could be the most critical areas to support the initial survival and later growth for success. Each business is perhaps different and has different...

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Can I Claim Tax Relief on Food & Drink?

Self-employed For a self-employed person, the general rule is that there is no relief for subsistence costs – this case has been tested in the courts – unless it is an incidental part of the job. So, lunch whilst you are working would not count as you need to eat to...

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How to finance your start up and ongoing running costs

Your new business could be financed in a number of different ways and quite often a combination is used. You can consider: Personal monies – savings Conventional bank finance – overdrafts, commercial mortgages, business loans, commercial investment mortgages...

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The power of reflection

When considering your valuable time, the one thing you can’t do is worry about the past. It is a reality that you can not do anything about the past, it’s gone, it’s already happened. However, you can always reflect and learn from any outcome. You...

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Can I claim tax relief for working from my home?

One of the questions we are often asked or discussing with our clients. Here are our thoughts in our latest ‘Can I claim…..’ article. Self-employed If you are self-employed you can either calculate a proportion of your household bills or...

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The Early Warning Signs of Business Distress

For this article, we invited expert Graeme Lipman at Begbies Traynor to contribute. When a business is beginning to struggle, it is often the case that it starts to exhibit varying signs of this impending trouble both internally and externally. When a business is in...

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New VAT Reverse Charge Rules for the Construction Industry

HMRC has published draft legislation proposing a VAT Reverse charge for construction services. This has been introduced in order to combat fraud in the construction sector, where VAT is not paid over to HMRC by the subcontractor/supplier. The legislation is currently...

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Moving with the times in the Health & Fitness industry

Working closely with business owners in the Health and Fitness industry, we are seeing evidence that the numbers for some are positively changing. They are increasing sales with more focus on innovative activities such as Personal Training and BootCamps. This may not...

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The Rent a Room Scheme

If you use the Rent a Room Scheme you don’t have to keep a record of your expenses since you don’t claim relief for them under the scheme.  You will need to keep a note of any capital improvements to mitigate any Capital Gains Tax liability on disposal of the property...

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Managing your Business finances – keeping your books

Often a business owners financial records is heard referred to as the ‘shoe box’, rather than an organised financial management system. As a business owner you must keep business records and documents for tax purposes. Keeping good records of your transactions will...

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Employing someone for the first time

Taking on your first person and then hiring a team of people can help you develop and build your business. However, becoming an employer does bring additional responsibilities that is often an area of the unknown until you have done it a few times! For example, a fair...

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Should I be VAT registered?

Most people are aware that once your annual turnover breaches the VAT registration threshold (currently £85,000), VAT registration is compulsory. However, there are two further things to consider: Firstly, it is the VATable (including zero rated) turnover in ANY...

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Something different with CRM at Business In Oxford 2018

Our team enjoyed a great day at Business In Oxford on Wednesday 23rd May. BIO is an event that showcases businesses across the county and offers something for everyone with keynotes, seminars, activities and an exhibition. The team at B4 delivered a fantastic...

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CRM become Handpicked Accountants

We are delighted to announce that Chapman Robinson & Moore have been selected as the latest addition to Handpicked Accountants. Handpicked Accountants is a fantastic new service which aims to connect individuals and business owners with an accountant they can...

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6 non-taxable benefits that should not be on your P11D

A P11D is for each employee in receipt of benefits in kind and expense payments. By the 6 July, following the end of the tax year, employers should have submitted your P11D forms online to HMRC, given your employees a copy of the information on your forms and told...

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Are you correctly treating costs incurred as disbursements

Disbursements can be added to invoices without the addition of VAT on top.  However, we regularly identify the overuse of this.  An item is only a disbursement if the cost is actually the customer’s legal responsibility to pay, and you have paid this on their behalf...

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CRM to boost employee volunteering and staff development

Directors at accountancy firm Chapman Robinson and Moore (CRM) have committed to giving every staff member three hours per month to become regular volunteers at a charity of their choice. CRM had been considering ways to share their staff’s time, talent and skills...

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CRM take your data seriously under GDPR

The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and was designed to harmonise data privacy laws across Europe. The enforcement date is 25th May 2018. To demonstrate our accountability and show we take Data Protection...

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Playing your part… Helping to build a cleaner society

I have just finished reading through the Statistical Press Release on UK Energy Statistics for 2017 and Q4 2017 which has just been released online. At an event, I heard someone saying that he didn’t expect much change from this, and he did not expect to see any...

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Fraud – Don’t just trust an email, text, phone call etc

In our last enewsletter, we reported a conversation with Barclays Bank and how Email is not always a secure channel of communication and is increasingly targeted by fraudsters. Fraudsters are intercepting emails and tricking members of staff at organisations into...

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CRM raises over £3,000 for Sobell House

We are delighted to advise that our Charity Race Night on Friday raised £3,445 for our charity of the year, Sobell House https://www.sobellhouse.org/ Our special thanks to Barclays Bank, who demonstrated their commitment to the local community and supporting the work...

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Business In Oxford 2018

We are exhibiting at the fantastic Business in Oxford 2018 event on Wednesday 23rd May 2018. This is a showcase event for businesses in Oxfordshire and will provide keynote speakers, seminars, an exhibition and networking opportunities. As part of our stand, we are...

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What is your activity gap?

A common phrase often used in business terms is ‘if you always do what you have always done, you will always get what you have always got’. We offer support to help you make the change needed in your business, so that it delivers the results you want to meet your...

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Spring Statement 2018

Our Technical Director, Alan Sowden, provides his usual overview and some planning points for your consideration. Chancellor Philip Hammond presented his first Spring Statement on 13th March 2018.  As announced in the Autumn Statement 2016, the Spring Statement will...

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The Step Change to Significant Business Growth

Our Commercial Director, Mike Foster, was recently asked to speak at a local networking group for business owners looking to develop their business. Mike’s presentation was titled ‘The Step Change to Significant Business Growth’ and covered 10...

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How does your construction business compare?

INDUSTRY FINANCIAL DATA AND RATIOS Industry: 41.2 – Construction of residential and non-residential buildings Prepared: 02/2018 A sample of our report data, based on businesses in the stated industry, providing real time industry metrics and identifying industry...

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Inheritance Tax (IHT) – What you may want to know

Inheritance Tax (IHT) is a tax on the estate (the property, money and possessions) of someone who’s died. IHT on death When an individual dies, all assets and liabilities (including reasonable funeral costs, taxes other than IHT etc) are valued at the date of death...

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Simple Stuff That Works

A short video to introduce the content from a recent seminar of the same title looking at business development and the fact that cash is...

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Wages to Income: a relevant measure across many sectors

Here at CRM, we work with a variety of businesses as well as having our more narrow areas of specialism. However, one measure that we find is often considered in most sectors is the amount it costs a business owner in wage costs to deliver the income levels they...

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A guide to Income Tax Self-Assessment

Increasing numbers of tax payers are affected by self-assessment, including the self-employed and paid company directors. If you are one of them, there is no need to be concerned. As long as you keep detailed financial records and meet the deadlines for completing the...

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HMRC are changing their VAT Portal

HMRC have confirmed that from 14 February 2018 the Electronic Data Interchange (EDI),  the current platform used to submit VAT Returns electronically, will be decommissioned and replaced with a new platform. From that date, all electronic Returns must be submitted via...

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Allowable expenses for subcontractors

As a subcontractor, it can be difficult to know which of your expenses are allowable for tax purposes, and are therefore able to reduce your tax liability or increase any repayment due. Below are common expense categories, and the associated costs within them which...

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Are you giving up too soon on your prospects?

From statistics shared by the National Sales Executive Association, 48% of people never follow up with a prospective client. 25% of people never make a second contact and 12% of people only make a maximum of 3 contacts and stop. Your marketing activity is an...

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Bookkeeper or Accountant?

We are often asked the difference between bookkeeping and accounting. The work of a Bookkeeper and Accountant can overlap, as Bookkeeping is part of Accounting. We agree there are many similarities, but there is often a misconception that bookkeeping and accounting...

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Autumn Budget 2017 Review from CRM

On Wednesday 22nd November The Chancellor, Philip Hammond, presented his latest and second Budget to Parliament reporting on an economy that “continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down”....

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CRM represented at Number 10

We were delighted that our Commercial Director, Mike Foster, was asked to represent CRM and Entrepreneurship at Number 10 Downing Street. Enterprise Nation invited a group of business owners and ambassadors to meet with the Prime Minister’s business adviser to discuss...

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Reducing the cost of online shopping

HM Revenue & Customs (HMRC) have announced changes to import duties, which should make it cheaper to purchase goods from outside the EU. The following in an excerpt from HMRC’s website: From next month, internet shoppers will no longer have to pay customs duty on...

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What could you be measuring?

Are you making your numbers work? Do you measure, analyse, consider and improve those real numbers that impact on your performance? Have you considered what numbers you could be measuring in your business? Yes, here at Chapman Robinson & Moore, we love our...

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Challenges facing professional service providers

Professional Service Providers are set to face a number of challenges in the near future with changes in the following areas- Changes to taxation on property in come profits Restricted relief for finance costs to the basic rate of income tax Landlords no longer able...

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New tools for New Businesses from the Pensions Regulator

The Pensions Regulator has launched a new online suite of information and tools to assist new businesses who from 1 October have a legal duty to put staff straight into a workplace pension as soon as they employ them. From 1 October, new businesses will no longer be...

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Parents and grandparents missing out on gifting reliefs

The Bank of Mum and Dad is more in demand than ever before, helping the younger generation join the property ladder, pay for university tuition fees, purchase a vehicle or contribute to other costs. However, new research shows that almost half of parents and...

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Childcare vouchers and Tax Free Childcare

Childcare vouchers are being phased out in favour of the new Tax Free Childcare scheme: From April 2018 childcare vouchers will be closed to new entrants: if parents are not already signed up for vouchers at that time they will not be able to claim them in the future....

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Save time on your bookkeeping

It is unlikely you started your business to be a bookkeeper or an adminstrator of your financial record keeping. It is more likely you set up your business to utilise your own knowledge or skill, offer something you are passionate about and / or fill a gap that the...

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Avoid the cost of a HMRC Tax Investigation

As a result of recent increases in investigation activity by HMRC, many business owners are considering the impact of any potential cost of a possible investigation. The investigation process can be extremely stressful as you are required to ‘prove your innocence’ to...

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Capital Gain Tax (CGT) in brief

Who is liable to CGT? CGT is payable by UK resident individuals and trustees (incl. personal representatives).  It is also payable by non-residents on disposal of UK residential property. Partnership gains are apportioned to the partners.  Limited companies pay...

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A Quick Quiz

Let’s try this quick quiz! How much do you know about your business? What’s your net income? What is your gross profit? How are you doing in comparison to last month? Or your budget? How much are you spending on wages versus income? How’s your cashflow looking? We...

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Why we’ve partnered with FUTRLI

Traditionally accountants help with your figures in a historical and reactive way. Services such Accounts production and tax returns is all looking backwards at the past, reviewing what happened last month, quarter or year. At Chapman Robinson & Moore, we’re not...

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Pubs Relief Scheme

The Government gives funding to local authorities so that they can provide a discount worth up to £1,000 in financial year 2017/2018 to public houses with a rateable value of less than £100,000. This relief needs to comply with the European Union law on State Aid. ...

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Effective forecasting and management reporting

Budgeting is an essential first step and the foundation of your business planning. Ensure you reach your destination with effective forecasting and planning. Identify the numbers that truly impact your performance, measure and improve them. Understand today, forecast...

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A New way of Accounting to Make Your Numbers Work

Here at Chapman Robinson and Moore, we have developed an innovative and new way of accounting for our clients, to help them make their numbers work for their future success. For over 30 years, we have been the go-to trusted advisers for our clients, supporting the...

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CRM choose a Charity of the year

We are delighted to announce that the team at CRM have committed to support a Charity of the year. Our first Charity of the year will be Sobell House Hospice in Oxford. The team at CRM are committed to helping this wonderful charity to raise funds and also offer their...

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Average Spend per Head

Here at CRM, we have a number of clients in the Leisure and Hospitality Industry with whom we are working to help make their numbers work for their continued success. An essential metric we encourage these clients to measure is the ‘Average Spend per...

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Your VAT reporting

VAT is often considered ‘black or white’. For example, you should register or not and an invoice should include VAT or not. However, as with many taxes in the UK, it can be a grey area and can depend! You must register for VAT with HMRC if your business’...

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Making Tax Digital – in preparation of

Making Tax Digital (MTD) is proposed to help bring the tax system into the 21st century by providing businesses with a modern, streamlined system to keep their tax records and provide information to HMRC. The roll out for MTD has been amended to ensure businesses have...

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8 Steps to Business Improvement

How would you answer these questions? What are your goals and objectives? (Personal and Business) What is your exit strategy? Are these aligned with other stakeholders in the business? Key Predictive Indicators – What are the activity numbers and performance targets...

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CRM announces the next Business Improvement Workshops

We are pleased to announce that in October 2017, we will launch our 4th Business Improvement Workshop programme. This programme is for business owners who are looking to develop and grow their business and make more money with less effort. The content of our programme...

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Snippets from our Tax Seminar

Last month, July 17, our Technical Director, Alan Sowden delivered a Tax Seminar, that covered many areas in relation to planning to pay less tax. If you were unable to join us or would like a refresh of the content, then please see three video snippets below.  ...

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Employer? Here’s some useful factsheets

Staff sickness may be a considerable burden on a business, leading to additional staffing costs and increasing the workload for other workers. While all employers would want to support members of staff who are unwell, sickness absence must be managed otherwise it can...

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Making Tax Digital delayed until 2020

The launch of HMRC’s Making Tax Digital for Business programme has been pushed back for many businesses until 2020, although VAT registered businesses have responsibilities from April 2019. HMRC had planned to mandate the use of digital tax records for businesses by...

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5 reasons not to switch to CRM accountants

1. You will have more profits and cash in the business, that you won’t know what to do with it and it may distract you thinking how to spend it. 2. You will be working less hours and running the business with less effort, so likely to get bored because you are...

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Changes to the taxation of employment termination payments

Are you considering the termination of any employment contracts? If so, please note the potential changes from April 2018. Draft legislation that is expected to come into effect from April 2018, means that Employer NI (currently 13.8%) must be paid on all sums over...

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Attracting Employees – relocation costs

Are you having to attract new team members from outside your immediate catchment area? This is something we are experiencing with our clients, as they seek to attract the best talent to their teams. Relocation packages are often offered from employers to new employees...

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CRM become Advisers with Enterprise Nation

Since launching in 2005, Enterprise Nation has helped thousands of people start and grow their own successful business. Led by Emma Jones MBE, they are the UK’s most active small business community and offer a voice to government for members too. The mission at...

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General Data Protection Regulation (GDPR)

The EU has introduced the GDPR to update and harmonise data protection practices across the EU. It will apply to all EEA countries and any individual or organisations trading with them. As it comes into force on 25 May 2018 (before the UK leaves the EU), UK...

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Run your business like driving your car

Would you leave home for a long journey without a plan of how to get there or without any preparation beforehand? Of course this is unlikely, unless you know the route really well. So why do so many small businesses attempt this by not having a business or marketing...

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Making Innovation Affordable

R&D tax relief – It’s a winner! Research and Development (R&D) tax relief and tax credits are amongst the most under-claimed tax incentives currently available. Many people often believe that unless a scientist is employed by the company, then R&D...

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Alan Sowden speaks at The Bookkeepers Conference 2017

For the third year running our Technical Director, Alan Sowden, was asked to share his knowledge and expertise with the delegates at The Bookkeepers Conference, held in Birmingham on 12th June 2017. Following an open Q&A session, Alan spoke about P11ds and Tax...

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Research and Development tax credits – an outline

Research and Development (R&D) tax credits is an area where we are experiencing an increase in enquiries from our clients. This article provides an overview of the schemes and what is included within a claim. R&D tax credits are only available to Companies...

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The Rise of the Robots

For sure, we are in an era when we are all seeing the rise of the robots in our work and personal life’s. However, how far will this go? What is the realistic threat to jobs and the likely impact on the economy? Some of our team were recently part of a tour around the...

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Are you measuring your callbacks?

Callbacks occur when a repair or improvement has been unsuccessful, which results in a return visit to correct the issue. As Callbacks are generally provided free of charge, this is of course a drain on your bottom line, due to the associated time and monetary cost of...

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Who are your Key Accounts?

Are you spending your time with the right customers? Many commentators quote The Pareto principle (also known as the 80/20 rule). For example, 80% of our income comes from 20% of our customers or 20% of your people will be responsible for 80% of the businesses output....

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Where do you employees have their best business ideas?

British workers no longer have their best ideas while sitting in the boardroom according to a new poll of office workers, as part of a survey, commissioned by Crown Workplace Relocations. The poll found that casual chit chat is what inspires the majority. The top...

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What should be on your P11D?

The P11D is a statutory form required by HMRC from UK based employers detailing the cash equivalents of benefits and expenses that they have provided during the tax year to their directors, and employees earning at the rate of more than £8,500 per year....

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Sources of general business support

in addition to the support and expertise we offer here at Chapman Robinson and Moore, please find below a list of other organisations that could help you develop your business. www.gov.uk  – Provides advice on starting a business, tax, payroll, H&S, IT,...

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KPI’s for the Leisure and Hospitality industry

At Chapman Robinson and Moore, one of our specialist areas of expertise is the Leisure and Hospitality Industry. To help our clients in this industry make their numbers work for their own success, we work with them to identify the KPI’s that will help measure...

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CRM supports open letter to work experience pupils

Coinciding with Responsible Business Week, a group of leading local companies including CRM, has written to school pupils about to embark on a work experience placement, giving them tips on how to get the best out of it and make a good impression at their host...

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How is technology and software change in your business

The pace of change in many industries today is driven by development in software and technology. Some of the software benefits that were previously an expensive investment for a small businesses is now much more affordable. In addition, technological developments are...

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The Limited Company and Tax

When setting up a new business, you have to decide what format your business will take. If you decide to form your business as a limited company, there are some requirements you will need to follow to notify the right people (Companies House). However, why do you need...

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Would you also benefit from a Carbon Footprint analysis?

A Carbon Footprint study quantitatively assesses the Greenhouse Gas emissions arising during a given period. A carbon footprint is measured in tonnes of carbon dioxide equivalent (tCO2e). The concept of a carbon footprint has been developed to help to quantify and...

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Are you considering Credit Cover?

The Association of British Insurers (ABI) has recently published a new guide that showcases the value of trade credit insurance to business. Credit insurance is a Business to Business type of insurance providing cover against the risk of not being paid for goods or...

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Maximise your return on investment in people

One of the key performance indicators that we discuss with our clients in the construction industry, is how they maximise their return on investment in people. Many construction firm’s will invest in their workforce and create one of their largest assets, so managing...

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Class 4 NIC reversal

Chancellor Philip Hammond has announced today (15th March 2017) that the planned rises to Class 4 National Insurance Contributions (NIC) for the self-employed, which were announced in the Spring 2017 Budget, will not now go ahead as planned in 2018 and 2019. He...

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Average Daily Rate in the Hospitality Industry

One of our specialisms, here at CRM, is working with businesses in the pubs, restaurants and hospitality industry. When helping our clients in this industry to make their numbers work, we help them focus on certain key performance indicators. One of these is the...

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CRM becomes the 50th business to join Reciprocate

Chapman Robinson & Moore Accountants becomes the 50th business to commit to more responsible business by becoming member of Reciprocate Chapman Robinson & Moore Accountants has joined other local companies such as Unipart, Royds Withy King, DAF Trucks and...

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The number one – take care

Of course, we are always interested in the numbers in a business. Not just the black and white numbers that make up the financial accounts of a business, but more of the numbers that contribute to the key success drivers of that business. However, one number that we...

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7 tips to improve your sales meeting conversation rate

As part of our Business Improvement Programme and Business Mentoring Programme, one area we explore with our clients is how to make the most of your sales opportunties. A good sales process will consider the various and personal steps to effectively convert your...

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How could personalities impact on your business?

As part of our Business Improvement Programme and Business Mentoring Programme, one area we explore with our clients is the attraction, retention and performance of the best people. Having the right people around you, internally and externally, is so important in...

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Salary sacrifice arrangements

An expected announcement was made in the latest Autumn Statement, pertaining to salary sacrifice arrangements, which the government perceives as having been subject to abuse. From April 2017, new rules will be implemented to address perceived tax advantages of these...

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Good credit control and why it is so important

‘Cash is king’ is one of those phrases in business that everyone perhaps knows, but not everyone applies to their day to day business. If your cash is safely in your bank account, then you have the choices for your business rather than being the lender to...

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Choosing a supplier

This is an important consideration as your supplier could have a big impact on the reputation of your business. Choosing a supplier is much more than who is the cheapest. Your choice should also take into consideration the potential relationship, good and open...

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Attracting & Keeping your Best People

One of the challenges we explore, as part of our Business Improvement Programme, is the attraction and retention of the best people to build an effective team. The definition of team is perhaps captured by Katzenbach and Smith, 1993, Harvard Business School. “A team...

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Thinking ahead

We all lead busy life’s and this can often lead to us not thinking about the future or our plans for later life. Here are a couple of considerations for protecting the wealth that you have established over time and our recommendation is to consider such areas...

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Are you getting paid?

How frustrating is it when you deliver your product or service as requested by your customer, but then they don’t pay on time? Quite rightly, you deserve the respect of others in business to be paid within the terms agreed. Do you….. vet your new customer...

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More about The ATOL Reporting Accountants’ scheme

  I am Beccy Blake from CRM. I joined CRM in July 2011 and I have since gained my ACCA qualification. I am involved in many different services within CRM such as the preparation of statutory accounts, tax returns and management accounts. I also specialise in the...

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IR35 – Is it time to review your contract?

BBC presenters have recently hit the headlines by operating through their own service companies. You can read this news by clicking here. This is just one example that demonstrates that the ‘intermediaries legislation’ (IR35) and your employment status is very much...

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How will you exit your business?

Preparing for the succession of your business and your preferred exit, is always on the agenda with our clients. This is a vision and objective we explore with you as part of both our Business Mentoring Programme and our Business Improvement Programme. This year, to...

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The Benefits of having an Audit

There are numerous benefits to an audit, and various types of engagement types are available based on the size as well as the needs of your business. This means that audits are not restricted to statutory audits, but as has been noted in recent days, more and more...

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The Christmas Reward

Christmas is a time of year when many employers like to celebrate with their team and recognise their hard work. The good news is that an employer can contribute to the celebrations whilst also benefitting from some available tax breaks and therefore avoiding any...

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10 benefits of having systemised processes in your business

“Small businesses don’t work, the people who own them do” Michael Gerber, Author of the E-myth There are many reasons for having systems in your business. One of the overriding reasons for many business owners is that you able to build your business so that it has the...

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Raising finance for your business

Do you need to raise money for the continuation and growth of your business? If so, no longer is traditional bank finance simply the only option. However, many business owners do not consider other options available to them if they are unable to raise money with their...

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Full time or temporary employees debate

What are your obligations? An article by The Recruitment and Employment Confederation (REC) details how permanent employee placements are falling at the sharpest rate in over seven years. The report by Markit/REC on Jobs was published on 5th August 2016 and provides a...

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Growth Strategies for your business

A good Growth Strategy will replace random and opportunistic business development with a reliable and systematic approach to growth. A Growth Strategy at a basic level describes the types of clients you will target, the services you will offer and how you will...

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Natural Resources – Accounting for borrowing costs

About 20% of the worlds energy is currently being sourced from Clean energy. This leaves the remaining 80% coming from combustion of fossil fuels. Unfortunately, this releases Carbon dioxide, and other harmful gases, and pollutants into the atmosphere, and has been...

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7 systemised steps to grow your business

One topic, that forms part of both our Business Improvement Programme and our Business Mentoring Programme, and always generates much conversation plus idea generation is the ‘Seven Systemised Steps to Grow Your Business’. The seven steps we cover are...

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The Common pitfalls in business

During our Business Improvement Programme, one of the areas we explore is the common pitfalls that many business owners face day to day. Research has indicated that there are some common reasons for businesses failing. We feel that it is important that you are aware...

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Strengths, Weaknesses, Opportunities, Threats (Your SWOT)

An area that we explore as part of both our Business Mentoring Programme and our Business Improvement Programme is your ‘SWOT’. We would always recommend the completion of a SWOT analysis and were possible with the support of others to help you see all the key points....

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Sage Accounts – List of default VAT codes

Sage Accounts – List of default VAT codes and examples are: T0     Zero rated – Food, Sewage disposal/water, Books, pamphlets and brochures, Newspapers, Maps, Sales outside of EU etc T1     Standard 20% with effect from 4/1/2011 – all UK Sales T2    ...

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The ATOL Reporting Accountants’ scheme

The Air Travel Organiser’s Licence (ATOL) Scheme is a statutory system covering most travel providers who sell air travel. Its purpose is to protect the public from losing money or being stranded abroad because the travel provider that they have booked to travel...

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What is a team?

This is just one of the questions we cover as part of our Business Improvement Programme. “A team is a small number of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they are mutually...

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Sage Accountant Partner – What does that mean for you?

Many of our clients use Sage accounts and Payroll for their day to day financial records. Therefore a few years ago we became Sage Accountant Partners. This partnership helps us at CRM to support our clients that like to use this software option and get the best from...

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Considerations when opening a hospitality business

There are many elements to consider when starting any business. In this article, we would like to share our experience of working with clients in the hospitality sector. Over recent years, we have established a reputation for helping owners of restaurants and pubs...

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Is your business ready for sale?

A common theme for clients utilising the support of our Business Mentoring Programme is to consider the exit or sale of their business at some point in the future. So as part of the proven 8 step support such as the planning, forecasting, measuring and improvement...

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Does your forecasting include a sensitivity analysis

Over the last few years, as part of our Business Mentoring Programme, we have been providing our clients with a sensitivity analysis around their profit and cash forecasts. In recent months, we have also found that many of the traditional lenders are looking for such...

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Changes to the Taxation of Dividends from April 2016

It was announced in the Summer Budget 2015 that the taxation of dividends would change significantly with effect from 6th April 2016. This is arguably the biggest tax change in recent memory for Small and Medium Enterprises. What is changing in April 2016? Please...

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Reducing the financial burden as a care home owner

With care homes reeling from the previous budgets, it is vital that care homes look at every opportunity to reduce the financial constraints that they now face. With employer obligations to comply with auto-enrolment, the new national minimum wage and restrictions to...

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Construction Industry Scheme (CIS)

One of our specialised areas, and an area of work we enjoy, is supporting businesses within the construction industry. As part of our leading knowledge and expertise, we manage CIS on a regular basis for our clients. What is CIS? The Construction Industry Scheme (CIS)...

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The advantages of benchmarking your business

How do you perform against your competitors? How do the results of your key performance indicators compare against similar businesses? Are you measuring the right numbers? Benchmarking can be very informative and support your key decision making. It can also provide...

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Pension contributions & tax relief for higher earners

For tax years up to and including 2015/16 (i.e. up until 5th April 2016), individuals with taxable income in excess of £150,000 pay income tax at 45% (or 37.5% for dividends), and receive tax relief at their marginal rates on money purchase pension contributions up to...

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Paying your Self Assessment liabilities to HMRC

The 31st January is not only the deadline for your 2014/15 Self Assessment return, but also the deadline for payment of any liabilities. A common question that we are asked is “How do I pay HMRC?”. HMRC recommends that taxpayers pay electronically by:...

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Health and Fitness Trends

Whilst working alongside a number of clients in the health and fitness sector, we at CRM also like to keep up to date with the industry and latest trends. Trends to look out for in 2016: Increase in faith-based fitness programmes, i.e. Religious groups Fitness videos...

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Decide what you want really want to achieve

It is this time of year when many people will be reviewing their business and considering their goals and objectives for 2016. We encourage our clients to consider the motivation to achieve, as much as having the vision to set the goal in the first place. At CRM we...

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As a Sage Software Partner we bring savings to our clients

CRM are Sage Accountant Partners, which means we are committed to supporting our clients using this software with regular training and advanced knowledge of the product features. An additional benefit is that we are able to purchase software purchases and upgrades at...

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Your performance measurement and improvement system

Our Business Mentoring Programme is your performance measurement and improvement system This gives you many of the things you need to run a more successful business, get a better work life balance, have less stress because everything is more under control, earn more...

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How do you build trust with your prospects

Many of our clients would have met Mike Foster, who assists with our business development and seminars. If you have heard Mike speak at one of our seminars, you will know he has a repetitive message when it comes to your marketing. “Your prospects have to get to...

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Benchmarking brings a sense of reality

As part of our Business Mentoring Programme (step 5), we help our clients to evaluate their business performance by a comparison to their industry. This step helped one of clients to see a clearer picture of the impact the economic situation was having on his business...

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Considerations for the Construction Industry

The construction industry is one of varying levels and size, from large, multi-year contracts to sole traders who are subcontracted out to carry out construction work for a contractor. IAS11 Construction contracts A construction contract is a contract specifically...

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Tour Operators’ Margin Scheme (TOMS)

The TOMS is a special scheme of VAT accounting and a simplification measure which is used by those who supply designated travel services as a principal or undisclosed agent, with VAT being accounted for where the supplier is established in the EU rather than in all...

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VAT on Medical Services: The basics

The healthcare industry is coming under increasing pressure to add value, while being forced to reduce costs. In spite of this, it is important that businesses in this sector are protected from complex VAT rules surrounding the industry. The basic rule states that...

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Health and Fitness News from CRM

Health experts warn that Europe’s ever growing obesity crisis will see almost three-quarters of men and two-thirds of women in the UK being overweight by 2030. This crisis has meant that the health and fitness industry has grown rapidly over the past few years as...

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Accounting practices for professional services

Professional services cover a dynamic group of business activities. These would include solicitors, architects, consultants, and surveyors to name but a few. Like many other businesses, this sector will be facing numerous challenges in the current economic climate....

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Completing your SWOT Analysis

So what are the strengths, weaknesses, opportunities and threats for your business idea? Strengths: ·         What advantages do you have or what do you do better than anyone else? ·         What do people in your market see as your strengths? ·         What factors...

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Getting paid

When you keep your side of the bargain with a customer, it is only fair that they should keep theirs by paying you… and paying you on time. Sadly, as everyone in business knows, this doesn’t always happen. How big is the problem? The bad debt calculator below...

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Hospices of Hope

CRM are pleased to be supporting two local girls, Anna & Emily, with their contribution in aid of the International charity Hospices of Hope, who work to improve the quality of life for the terminally ill and their families, in Romania and surrounding countries....

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Leaving your business

Every business owner should have a personal exit plan. We sometimes refer to this as a ‘starting with the end in mind’ strategy. Whatever thoughts you have concerning the sale of your business, creating and putting into practice appropriate strategies is...

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Maximise your online presence with LinkedIn

The LinkedIn platform is free and is an invaluable tool to help people keep in contact, build and connect with your network, find potential business partners, position yourself as an expert and win new business. So here are our 5 steps to getting started with a...

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£2,000 Employment Allowance starts 6th April

From 6th April 2014, eligible employers can reduce their Employer’s National Insurance Contributions (NICs) by up to £2,000 each tax year. You can claim the Employment Allowance if you are a business or charity (including Community Amateur Sports Clubs) that pays...

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CRM celebrates 30 years in practice

30 years ago, 28th June 1983, Chapman Robinson and Moore received its letter and entitlement to practice from the Institute of Chartered Accountants in England and Wales. Managing Director, Tony Hobbs, said; “We are proud of our history as a business in...

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Avoid P11D penalties and pitfalls

Do you make expense payments or provide Benefits in Kind (BIKs) to employees (including you if you are a director of your own limited company)?  If so, the deadline for submission of P11D and associated forms to report these amounts for 2011/12 is 6th July 2012....

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Save tax on your commercial property

What is the opportunity? There is an opportunity to have a FREE review undertaken to identify any parts of your commercial property qualifying for capital allowances.  CRM can arrange this on a no upfront charge and no win/no fee basis – you only pay a small...

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Changes to Intrastat Supplementary Declarations

From 1st April 2012, businesses who file Intrastat Supplementary Declarations must file these electronically. Furthermore, the deadline for submission will be brought forward from the last day of the following month to the 21st of the following month.  Please note...

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Protect your business from HMRC

Regardless of how careful you are with your tax affairs, HM Revenue & Customs (HMRC) can randomly select you for a tax enquiry. You’ll be responsible for proving your innocence or agreeing to the Tax Inspector’s demands. Unfortunately, your defence will often...

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How to compare your results against your competitors

CRM are pleased to announce the launch of a number of new options to our Benchmarking Service, an important and popular element of our Business Mentoring Programme. The reports allow you to compare your key numbers to competitors in your industry, quantify the...

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Important HMRC policy change

As part of its cost saving measures, HM Revenue & Customs (HMRC) will no longer send certain duplicate tax forms to agents The following forms will now only be sent to the taxpayer and if appropriate their employer. The agent copies will be withdrawn between...

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Supplying services to European customers

From 1st January 2010 significant changes in the VAT treatment of supplies of services made to and received from overseas will come into force. The principle behind these changes is to reduce the number of cross-border VAT charges and reclaims being made by businesses...

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Reduce the cost of dealing with the Revenue

In accordance with recommended best practice from the Institute of Chartered Accountants in England and Wales, one of the services which Chapman, Robinson & Moore offer to our clients is a Tax Investigations Fee Protection Service. This is open to all people for...

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Don’t get caught by fraudsters offering tax rebate

HM Revenue & Customs (HMRC) have recently announced that they have become aware of a new attempted phishing fraud occurring, which revolves around an e-mail supposedly from HMRC advising that you are due a refund. If you receive unexpected correspondence from...

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HMRC funding for employee tax refunds

The increase to the 2008–09 personal allowance that takes effect on 7 September 2008 may mean that employers have to provide some employees with a tax refund. If necessary, employers (or agents on their behalf) can claim funding from HMRC to cover the cost of these...

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Can you afford to lose gross payment status for CIS?

Construction Industry Scheme – more stringent compliance measures in place for gross payment status While most businesses in the construction industry are aware that HMRC is now applying more rigorous compliance review procedures to assess whether they still...

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Round sum and scale rate expense allowances

HMRC has issued updated guidance to employers in relation to expenses and scale rate payments for subsistence and incidental overnight expenses. These changes to its Employment Income Manual accompany the publication of tables of benchmark scale rates that employers...

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Self Assessment tax payment options

The 31st January deadline for Self Assessment returns and payments to reach HM Revenue & Customs (HMRC) is rapidly approaching. There are a number of ways you can pay your tax to avoid interest charges. You can pay by post or at your bank if you have a...

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Avoid fines when employing workers

Under new immigration rules taking effect from February 2008, employers who hire illegal workers will face the possibility of a fine of up to £10,000 for each such worker. The amount of the fine will depend on factors such as the thoroughness of the identification...

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How to save money when the taxman calls

Chapman Robinson & Moore (CRM) have launched their new Tax Investigations Fee Protection Service. This is open to all people for whom we prepare tax returns, whether personal, partnership, company or trust. Taking advantage of this opportunity means that in the...

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EMI schemes for small and medium sized businesses

Introduction When the EMI scheme was introduced by the Finance Act 2000, the general reaction was that it was too good to be true. Since then, the availability of the scheme has widened and the popularity has continued and grown. We at CRM have set up a number of...

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Does your business have a will?

This article is brought to you by CRM & AGM Independent FinancialAdvisers Ltd in association with Chapman Robinson & Moore Ltd We know the benefits of personal wills – they get the right money to the right people at the right time. But have you done...

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Can a different VAT scheme help your business?

Cash Accounting Businesses whose vatable turnover is £660K or less (this is rising to £1.35 million from 1 April 2007) are eligible to use cash accounting. Once in the scheme, there is an upper limit of £825K before a business has to leave. The prime benefit is that...

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Top tax myths exposed

Myths about tax are adding to an already confusing tax system, the Institute of Chartered Accountants in England & Wales (ICAEW) has claimed. As taxpayers prepare tax returns to meet the 30 September deadline, the last opportunity for sending tax returns back to...

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All change for tips and troncs

Almost a year after National Insurance rules on the taxation of tips last changed, a further amendment to the rules have been announced by HM Customs and Excise. In an announcement made on 17th February, the Revenue say that further legal advice received indicates...

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