Sean Hackemann

What a fantastic way to kick off a Monday! 🎉 Starting the week with such an incredible review from The Honest Group has put a smile on my face. 😊 Knowing that we've helped put their business in a better place is exactly why we do what we do. At Ultra Tax Ltd, we’re committed to being more than just accountants - we’re partners in your business journey. Rapid, informative, and always here to help, no matter what you need. There’s no better motivation to dive into another week of making a real difference for our clients. Let’s make it a great one! 💼✨ #MondayMotivation #ClientSuccess #UltraTaxLtd #BusinessGrowth

10

3 Comments

📣 HUGE NEWS! 📣 A massive welcome to Gary Turner who has joined the board of directors at Mazuma Accountants . He needs no introduction, of course! 😃 We are NOT mucking about over here. 💥 We’ve got a business to build ourselves, and 6 million small businesses in the UK to provide with a good nights sleep, the time to go to school plays and summer holidays free from stressing about tax bills. It’s a serious business, but damn are we having fun doing it! 🤩 You can read the full story here 👇 https://lnkd.in/ePxzSEhS #business #technology #growth

508

144 Comments

It no longer makes sense to hire internally in the UK. It comes as no surprise that fractional outsourced departments such as what we offer at Innovate Accountancy are becoming more and more of a number 1 choice. Look at it this way. With the new National Minimum Wage increasing to £24,126 PLUS associated costs of pensions/ ER NI etc it really does stand to put pressure on SME's. Let's put this into perspective. One full time Accounts assistant costs £29 723 per year plus associated costs. For the SAME monthly cost to employer (Average £3500pcm) with outsourcing you can have access to a TEAM. - Bookkeeper/ Payroll Tech - Tax accountant - Management Accountant - VAT specialist - CIS Specialist - Fractional FD No holiday or sickness cover required. No micromanagement. Fixed retainers - not driven by budget increases. 50 weeks of the year. Join the new wave of business exploring innovative ways to mitigate new cost increases. When you have a plan - you can overcome any obstacles thrown at you. I have spaces left to discuss how outsourcing to our UK based team could work for your business. Book below. ----- 👋 Hi, Im Zoe Goodchild and I am here to support construction and manufacturing business owners like YOU in systemising their finance function to unlock precious time, drive better business growth, and gain crystal-clear insights into your cashflow. 💥 My mission is to give business owners their time back, to focus on what truly matters to you! 💷 To implement SYSTEMS that save you £££'s on hiring in house finance teams - Drop me a DM! Innovate Accountancy #financefunction #efficiency #profitability #growth #ambitiousentrepreneur #sme #businessgrowthstrategies #construction #manufacturing #outsourcedaccounting 

85

10 Comments

❗ It's not too late❗ If you're confused about the current rules on R&D tax credits following the plethora of changes in recent years, come along to Tax Club at 10am for a concise summary of what tax reliefs are now available. https://lnkd.in/d_hHQDjg

6

Autumn 2024 Budget Highlights for UK SMEs 📊 Chancellor Rachel Reeves’ Autumn 2024 Budget, presented on 30 October, brings impactful changes for UK businesses, focusing on fiscal stability and investment. Here’s a summary of key elements: No Rise in Key Taxes 🚫 Income Tax, VAT, and Corporation Tax (CT) rates remain steady, with CT capped at 25% for small profits. Full Expensing, Annual Investment Allowance, and R&D reliefs are maintained. Employers’ National Insurance Increase 💷 From April 2025, the rate rises to 15%, with the threshold lowering to £5,000. This change could affect salary structures and increase costs for employers, potentially encouraging a shift to contractor hiring. Enhanced Employment Allowance 💼 To offset National Insurance increases, Employment Allowance doubles to £10,500, benefiting smaller businesses. National Living Wage Increase 📈 Effective April 2025, the National Living Wage will increase by 6.7% to £12.21/hour. The National Minimum Wage also rises, with potential cost implications for employers. Capital Gains Tax (CGT) Adjustments 💰 CGT rates increase by up to 8 percentage points, with business disposal reliefs gradually rising through 2026, aimed at supporting entrepreneurship. Fuel Duty Frozen ⛽ No increase in Fuel Duty until March 2026, providing relief to businesses dependent on transportation. Stamp Duty Land Tax Changes 🏡 An increase to 5% for additional properties from 31 October 2024, designed to support primary homebuyers. This budget brings a blend of tax increases and relief measures, presenting both challenges and opportunities for UK SMEs. Business owners may need to adapt strategies to manage rising employment and operational costs while leveraging reliefs and allowances.

3

🏭 **Thinking about selling your manufacturing business? The 2025 UK budget could shape your next move.** For business owners in the manufacturing sector, especially those aged 55+, the journey to selling your business can feel both exciting and daunting. With new UK budget reforms on the horizon, understanding how changes like corporation tax increases, capital allowances, and energy reliefs will impact your business valuation is crucial to maximising your returns. Our latest blog breaks down the key insights and actionable steps to help you position your business for a strong sale. From optimising profit margins to embracing sustainability and R&D incentives, we’ve covered everything you need to know to prepare for 2025. 💡 It’s not just about selling—it’s about creating the legacy you’ve worked so hard to build. 👉 **Click here to read the full blog:** https://lnkd.in/er2kee3n Let’s plan for your future with confidence. #ManufacturingBusiness #BusinessValuation #UKBudget2025 #SMEAdvice #BusinessOwners

3

Employee Ownership Trusts. Something we look at here at ASWATAX. We first assess and analyse the wider circumstances instead of throwing solutions your way. In tax and business, all must be tailor-made. I find more and more business owners approaching me for business advice these days too, in addition to the tax advisory we undertake. It's important to look at all angles, including what is actually going on in real-life. Yes the headline tax rate is 0% on such transactions. And selling your business, for proceeds which are technically agreed by YOU yourself as the business owner, completely tax free is amazing and promoted as such. But all angles must be considered. And how the deal is structured requires professional advice. Please reach out if you'd like to explore further. #employeeownership #trusts #capitalgainstax

3

Still time to register for our latest webinar on VAT which is very topical at the moment....

9

It’s not a coincidence that so many successful business owners amazing inter-personal skills… The ability to truly connect with and understand people on a deeper level is a skill that many successful business owners have mastered. Director and Head of Advisory at Nordens Chartered Accountants, Joe Sword, speaks about why is this can set apart those who succeed in business from those who fail? Are you looking to take your business to the next level and need some advice? Reach out to our expert team through the contact form in the comments! #businesstips #financetips #accountingadvice

13

1 Comment

VAT/PAYE/Corp Tax arrears What a month November has been. HMRC are certainly cranking up their collection activities even more now. We have onboarded 48 new clients this month and these clients had the following issues:- 10 - HMRC Field Agent Visit threatening to seize assets 10 - Only just in arrears and need a payment plan agreeing 8 - In a payment plan but cant afford it and need to re-negotiate a better one 8- Notice of Requirement To Give Security (VAT/PAYE bond) 6 - Threat of Winding Up Petition being issued 2 - Winding Up Petition issued 2 - Been offered a new invoice finance facility but a pre-condition is that they must have an affordable time to pay plan in place 1 - Not in arrears yet but will be on 7th Dec and will need a payment plan 1 - Auctioneer on site with a low loader about to take machinery and stock (this was the most pleasing outcome - within 10 minutes of me getting involved they had gone without taking anything and won't be coming back) The most pleasing thing for me is that all of the above new clients, except 5 of them, came to me as an introduction from either accountants, insolvency practitioners, insolvency lawyers, invoice finance companies, finance brokers, banks or existing clients. The other 5 came from linkedin! If your business is in arrears with VAT, PAYE and/or Corp Tax then get in touch and I can explain how we can help you. Or if you know someone who has a business in any of the above situations also get in touch. 07855 101010 or 0161 825 8094 https://lnkd.in/dJ4_xe3

51

7 Comments

🎯 I've been speaking a lot about goals in the past few posts but what about goals here at Taxtful... 🎥 Have a watch for a recent example 🔗 Find out more about setting and achieving in our free workshop on May 8th at 1pm 👉 https://lnkd.in/e8bjis29 #businessowner #settinggoals #goals #goalsetting #clientexpectations

10

3 Comments

EOTs offer a compelling, tax-efficient exit route for business owners. Under current UK tax laws, selling a controlling stake in a company to an EOT can be free from CGT, providing substantial tax savings. Beyond the tax benefits, EOTs can ensure the business’s continuity, preserve its culture, and reward employees. We assist in structuring and implementing EOTs, ensuring compliance with legal requirements and alignment with the owner’s objectives. This process includes setting up the trust, transferring ownership, communicating the benefits to employees and tax clearance and correspondence with HMRC. To conclude this particular section: For many business owners, an EOT creates two significant tax breaks. First, the ‘headline act’. Shareholders selling their shares may do so free of capital gains tax. Second, once a company is owned by an EOT, it can pay annual bonuses to its employees free of income tax. To qualify for these tax breaks, two main conditions must be met. The trust must hold more than 50% of the shares in the company. Additionally, if employees receive any benefit from the trust, all employees must be included and on the same terms. ASWATAX #employeeownershiptrust

2

1 Comment

This year....We have decided to do January differently! 😊 Every January we get lots of enquiries for Self Assessments with the deadline date of 31st January. As of 19th December 2024, we won’t be taking on any more new clients for tax year 2023/2024. The deadline is simply too close, and we want to ensure we provide the highest quality service for all our existing clients. But don’t worry—we’re already taking clients for the 2024/25 Self-Assessment year! Getting ahead means less stress, more time to plan, and the benefit of our payment plans to help you spread the cost. Interested in getting ahead for next year? Let’s start early. Try out our shop. Link in the comments. #SelfAssessment #TaxTime #BarrettStaceyAccounting #HMRC #TaxPrep #BusinessTax #SelfAssessment2025

8

2 Comments

The recent changes to inheritance tax Business Relief has created succession planning challenges for business owners, particularly in owner-managed businesses. In this article, we consider some of potential solutions to the issues associated with how to pass on business assets to the next generations in a tax-efficient manner and how to fund any IHT liability that may arise. Please get in touch with you usual BDO contact if you would like to discuss the impact on you.

12

🔍 My latest contribution to Taxation magazine for a Q&A on............... the *oh-so-exciting* topic of a HMRC consultation document & draft legislation - "THE #CARF and #CRS 2 consultation: outcomes, implications & next steps." but hear me out.... 🔍 The Crypto-Asset Reporting Framework (CARF) is shaping up to be a real game-changer for #HMRC, offering unprecedented visibility into crypto transactions. Sure, this also means more work for intermediaries (RCASPs do need to understand who they are reporting to and what they are reporting on), but the added transparency could be incredibly valuable for the industry as a whole. For anyone else excited by this, pls share your thoughts below! A link to the article: https://lnkd.in/dcPW8gzK for subscribers.

15

7 Comments

CAPITAL GAINS TAX ON PROPERTY.... Have you recently sold a property? 🏠 You might need to inform HMRC about it! Discover the steps you need to take to stay compliant and avoid any potential fines. Head over to our article for all the details - See comments for link...

5

1 Comment