Spicer & Co

Set your goals and plans for 2025 now Make sure you plan now for next year by reviewing your previous year and add in your targets and goals for the following year. Planning prevents failure. The top five reasons that businesses fail are: ➡️Lack of cash/capital – 38% ➡️No market need – 35% ➡️Beaten by competition – 20% ➡️Flawed business model –19% ➡️Regulatory/Legal issues – 18% Through developing a plan you can identify and prioritise the tasks you need to do, setting key milestones and understanding the resources and timing involved to complete those goals. We offer a full business consultancy service, analysing your company’s performance and finances to keep you fully informed and one step ahead. Get in touch to arrange a session. #BusinessPlanning #GoalSetting #2025Goals #BusinessConsultancy #StrategicPlanning #SmallBusinessSuccess #FinancialPlanning

Did you know that sending Christmas Cards is a tax deductible expense? Many companies do not send cards in favour of donating to a charity. Your limited company can pay less Corporation Tax when it gives money to a charity or community amateur sports club (CASC). Deduct the value of the donations from your total business profits before you pay tax. Find more information here on donating to charity. https://lnkd.in/gmmyDxD 🎄Do you send cards to your customers? Or do you donate to a charity instead? #ChristmasCards #TaxTips #CharityDonations #SmallBusinessAdvice #TaxDeduction #BusinessExpenses

Be less Scrooge this Christmas! Here are some staff benefits which cost nothing, attract no tax and can really add to your staff morale. 🎄 Allow an extra half a day’s holiday for Christmas Shopping 🎄Consider extra time off to allow parents or grandparents to watch the school play. 🎄Arange a team- building day with a local charity to help at a Christmas event in your area. This all shows you are a caring employer! Do share in the comments anything that you do at Christmas for your staff that adds to their festive cheer! #ChristmasSpirit #EmployeeEngagement #StaffBenefits #WorkplaceCulture #TeamBuilding

A £50 gift to yourself and your staff! If you are a Limited company, then you can give yourself a gift at Christmas as the company is giving the gift and not you! You can also give gifts to your employees. The limit is £50. This counts as a trivial benefit exemption so no Tax or NI is payable. But this does not apply to cash – so it must be a gift. Non-cash vouchers up to £50 may be exempt under the trivial benefit rules. Where the voucher exceeds £50, you will need to report these on a P11D form to HMRC. So, a couple of bottles of wine and some chocolates would count as a trivial benefit. Unfortunately, gifts to employees are not a tax-deductible expense for the business. If you spend more than £50 Buying a gift that costs more than £50 (and this includes delivery charges) will count as a taxable perk for the employees that receive it. They will then have to pay tax and you as the employer will have to pay National Insurance. For example, if you were to give a £60 gift it will cost you a total of £85 because of the tax and NI due. The gifts must carry a clear advertisement for the business (e.g. with branding or logo) which must be on the gift itself, not just the wrapping. They can’t be alcohol, food, drink, tobacco (unless they are your business) or vouchers. Non-promotional gifts and larger gifts are classed as entertaining and are not tax-deductible as an expense. Read more on Christmas Gifting here https://lnkd.in/etMxZsbc #TrivialBenefits #BusinessGifts #EmployeeAppreciation #LimitedCompany #ChristmasGifts #TaxExemption #SmallBusinessTips

New Tax Rule for Double-Cab Pickups. The autumn budget included new rules regarding the classification of double-cab pickups. This will impact the benefit-in-kind tax bills faced by people using these vehicles. It’s a big change and we have detailed this here https://ow.ly/fF5650U8AP5 #DoubleCabPickup #TaxRules #AutumnBudget #TaxPlanning

🎉 Happy Entrepreneurs’ Day! 🌟 Today, we celebrate the visionaries, dreamers, and risk-takers who bring innovation to our world. We love working with people who demonstrate creativity, resilience and who are inspirational business owners. People who know the value of our accountancy support. ✨ Share your favourite entrepreneurial story, promote your business or tag a fellow business owner! 🎊 #EntrepreneursDay #CelebrateSuccess 🚀 #Entrepreneurship #BusinessOwners #StartupJourney #SmallBusinessSupport

Let's delve into dividends. There is often so much confusion around this topic. If you own shares in a company, you have probably received a dividend payment. This is a portion of company profit, distributed as a cash payment or stock reinvestment. If you have opted for stock reinvestment, this option uses the dividend amount to increase your shareholding in that company. You may be a shareholder in your own limited company or could own shares of another company, for example, via investment or a profit-sharing scheme. A limited company can only issue dividend payments if it has made a profit. Shareholders are usually paid via an allocated amount per share. Therefore, the payment received may vary between recipients, reflecting the number of shares owned by each person. Our blog shares more about how to understand share dividends and how it is taxed. Read more here and if you are still confused get in touch with us. https://lnkd.in/eSYzkPck #Dividends #Shareholder #AccountantDunstable #DunstableBusiness #BedfordshireBusiness

Are you a construction company that needs help with your bookkeeeping? The UK construction industry is growing, with this trend forecast to last until at least 2027. (Statista) The sector is unique, with several nuances that construction companies need to comply with. From the Construction Industry Scheme (CIS) tax and payroll requirements to staged payments and domestic reverse charge VAT … construction companies have a lot to keep up with! Technology helps many businesses and contractors stay up to date with contract management and project administration. For bookkeeping and accounting, Xero is a perfect solution. As well as meeting Making Tax Digital for VAT requirements, Xero offers efficient tracking of individual project costs, outstanding invoices and cash. The cash summary is especially vital in construction as the sector’s project-based way of working makes good cashflow management crucial. Find out how Xero can help you. https://lnkd.in/eN3Nwhf2 #ConstructionIndustry #ConstructionAccounting #Bookkeeping #Xero #ConstructionFinance #UKConstruction

🌍 Happy World Kindness Day🌍 Today, we celebrate the power of kindness, whether it's through supporting a colleague, helping a client, or simply spreading positivity in our community. At Spicer & Co, we believe kindness is at the heart of everything we do — it drives us to go above and beyond for our clients and to create a workplace where everyone feels valued and supported. Let's make today a reminder to show kindness in our everyday actions. Together, we can create a ripple effect that makes the world a better place. #WorldKindnessDay #SpicerAndCo #BeKind #CommunityMatters #AccountantsWhoCare

Today is Remembrance Day. Let us take a moment at 11am to honour those who have bravely served and sacrificed their life for our freedom. #remembranceday