Latest Advice

News

Recognising the signs your business needs investment

When you start a business, you make all kinds of investments to get off the ground. First and foremost you invest your own time and effort, sometimes referred to as ‘sweat equity’.  You might also invest savings, or borrow money from family and friends. Then there is...

Read Article

Motor Expenses: Is your workplace permanent or temporary?

In our recent article, we covered how the business owner can claim back the cost of their business trips. When claiming motoring costs, you must also consider which journeys made can be classified as business, and which are private. Travel to a permanent workplace is...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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,...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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”....

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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....

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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. ...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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’...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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.  ...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article

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...

Read Article
Sage Accountant Partner LogoXero Partneriris kashflowFreeagent