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Purchasing A Car Through Your Business

Many of my clients are either the sole directors/shareholders of their limited companies or just have one or two fellow directors.  Quite often, once the company is set up and running, one of the first questions I’m asked is “Can I buy a car through the company?”.  My answer is usually a somewhat unhelpful “Yes, but….”.  The…Read More

Top 7 Productivity Tools

Although written by FUTRLI as part of their on-going support for their accountant partners, one or more of the cloud based tools highlighted in this blog should be of interest to any business, whether newly-formed or well-established. Top 7 Productivity Tools for Accountants Please let us know if you have any questions after reading the blog, or if we can…Read More

How to Create a Forecast Based on Historical Xero Accounting Data

In their more reflective moments, accountants often say, perhaps ironically, that a set of accounts is not worth the paper it is written on.  Surely, they are not being serious? But think about it.  Traditionally, a set of accounts is produced some months after the year end.  Great for calculating the annual corporation tax bill, but…Read More

13 Reasons Why You Need a Business Plan

We are always telling clients they need a business plan.  Our usual comment is something along the lines of “Well you wouldn’t jump into your car and not know where you were going to, would you?” or words to that effect. Here is FUTRLI’s take on the subject: 13 Reasons You Need a Business Plan…Read More

Say Goodbye to Excel with Xero/QBO & FUTRLI

FUTRLI have written an excellent blog on this.  Check this out: Say Goodbye to Excel with Xero/QBO & FUTRLI Please contact us if you have any questions about this blog.

Making Tax Digital – how and when will it affect you?

There is, to say the least, a certain amount of confusion over Making Tax Digital and how it will affect business owners (“MTDfB”).  First it was on, then it looked as if it might be off, and finally it looks as if it’s on but there will be a year’s delay. In view of this we have worked…Read More

Legislation to implement ‘Making Tax Digital’ put on hold

Legislation to implement the government’s Making Tax Digital initiative has been put on hold. The plans, which would see businesses and the self-employed submit multiple tax returns via computers or smartphones, have been met with widespread criticism. However, following last week’s announcement of a general election, the government has decided to drop 72 out of…Read More

The Budget – Good, Bad or Indifferent?

What’s appropriate? One of the tax changes which gained a nanosecond in the budget speech was the TCGA 92 s161(1) rule about appropriations to and from stock. Philip Hammond called this “converting capital losses into trading losses”. Why is this relevant or being tackled at this time? As part of general anti-avoidance the option to…Read More

The New Marriage Allowance – Have you claimed?

It is not often that HM Revenue & Customs (HMRC) is happy to reduce your tax bill for you, but the possibility of doing so this year seems to have been overlooked by most married couples. How it works In a nutshell, the Marriage Allowance lets you transfer £1,100 of your Personal Allowance to your husband, wife or civil partner…Read More

Parents – Childcare is Changing

We are in a period of big changes for parents with children in childcare. Do you know that a little under 10.5 million children aged between 0 – 15 years require some form of childcare at some time in the year? Are you one of those parents? If so, you may have heard about the…Read More

Company Directors and the Minimum Wage

For several years accountants have advised clients who are directors and owners of limited companies to adopt a policy of “low salary – high dividend”.  By adopting this policy in 2015/16 company directors could have paid themselves a tax free salary of £10,600 and a tax free dividend of £28,606, a total of £39,206 tax free…Read More

Automatic Enrolment

Since April 2012, all UK employers are legally obliged to automatically enroll all eligible workers into a qualifying pension scheme by a specific deadline (‘staging date’). Where this applies you must by law create and maintain detailed records of correspondence with workers, workforce assessments, joiners and leavers and pension payments. This is one of the…Read More

Employment Allowance

For the past two tax years (2014/15 and 2015/16) most employers have been able to reduce their employer’s national insurance bill by a maximum of £2,000 a year. We have applied this to all clients where we prepare the payroll. For the current tax year (2016/17) the employment allowance increases to a maximum of £3,000 a…Read More

Not all accountants are the same

Some accountants are boring, some are not so boring, and some are just plain mad!  How would you describe your accountant? We at Bambury & Co are sure we don’t fit the usual picture people have in their minds of accountants, and especially of chartered accountants like ourselves.  We are very friendly and very laid…Read More

Probate Work

We at Bambury & Co are very proud that we were one of the first firms of chartered accountants authorised by the ICAEW to carry out non-contentious probate work. Probate is a logical addition to our will writing service and enables us to offer a “one shop stop” service to clients. In addition both of these services…Read More

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