PAH Accountants

Here is my video presentation of a 4sight that I did at 4Networking Taunton.

It highlights some of the issues that can arise in a small business and gives some tactics that companies can use to

Many people rely on you if you are self-employed, a fact seldom appreciated – an increasing number of the UK’s working population are self-employed and without doubt are their business’ most vital asset.

However, they do not enjoy the employee benefits of corporate medical insurance or sick pay so can less afford to be ill.

Customers do not pay you when you are unable to work, worse still, they will often contact someone else to help them if you are not available.

A recent survey of 300 self-employed persons (turning over £50,000 to £1m) indicates that whilst in many respects the NHS may be the envy of the world,

If you run a small business which operates from a single premises you could be eligible for substantial rate relief, thanks to a recent government announcement.

The amount of relief is dependent on rateable value. As of 1st October, traders operating from a single premises will receive 100% rate relief on properties up to a rateable value of £6,000, instead of the previous 50 per cent. Also there is

As many people will no doubt be aware, HM Revenue and Customs  have issued a notice that they are going to be making claims for under (and over) paid tax due to an error in the PAYE system. A further blog is to be issued regarding this; however, I felt it prudent to give a warning of the scams that could arise as a result of this.

In recent months there have been many reports of emails being issued stating that an individual is entitled to a  tax refund. The old adage of ‘if it sounds too good to be true, it probably is’ definitely applies here. Do not email back with

What is Electronic Invoicing?

Electronic invoicing is the transmission and storage of invoices without the delivery of paper documents.

Why use this method?

This can offer many advantages over traditional paper invoices. The rapid electronic transmission of documents in a secure environment may provide for:

• An improvement to the traceability of orders
• Decrease in paper storage
• Reduction in paper and handling costs

Value Added Tax (VAT) is a tax levied on the sale of certain goods and services. There are different rates of VAT which apply. Suppliers are either exempt, zero-rated or chargeable. Currently chargeables supplies are at 5% or 17.5%.

Do I have to?

Registration for VAT may be compulsory, depending on the level of current or future turnover of the business. A business can voluntarily register for VAT; however, in order to register, a business must either be making taxable supplies (sales where VAT would apply) or intend to make taxable supplies in the future.

The two most common cases where a business must register and charge VAT are:

• A non-registered business making taxable supplies whose value exceed £70,000 within the last twelve months or

Hopefully you were here with PAH Accounting where we were reporting live the key fundemental budget points that affect small business. If not I have produced a handy summary into these factors below with some commentary and opinion to go with it!

George Osborn, the new chancellor presenting his first Tory budget.  He got stuck straight into Labour, commenting on the perceived errors of the past. He stated that this was an ‘unavoidable’ budget and that he is aiming to ‘balance the books within 5 years’. Some bold predictions for sure!

In the his summary Mr Osborn wanted stressed his pre budget talk that this was to be  ‘tough but fair ‘. Again getting at the previous regime this budget intended to ‘Pay for the past and plan for the future’. On key element also was his aim to

It seems like only a few weeks ago, ………………………..well it was!!!

Due to the election we will be seeing the first budget from the new Tory government. The date has been set as 22nd June.

Join us here for some live Blogging and tweeting. I am sure there will be a few interesting changes afoot!

What an exciting week last week with a hung parliament causing an almighty stir for the nation! We now know who the new government is; however, we are still not fully aware of how it will function. The Liberal Democrats and Conservatives are now working together to govern the country. But, what will this mean for small businesses?

There is to be a budget within 50 days of the new Prime Minister, David

An exciting day as ever when the Chancellor, Alistair Darling announces the budget. Well, at least that’s what we expected. It was effectively a little bit dull with nothing significant happening (unless you drink Cider!) This has been commentated as being an election based budget to ensure Labour remain in power. We will see!

As is the norm, PAH Accounting have prepared a review of the key factors which affect small business, including commentary and opinion on the effect it can have. Feel