James Lizars FCCA

🎯 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

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😵 Staggering how many companies are formed annually. Great for accountants😄, but this puts pressure on resources in the industry and yet again pushes up the cost of the commodity which is accountant time...🤨 When will software come in and reset the industry? https://lnkd.in/gaM67Y3X #accounting #company #business #finance

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🌊🌊🌊 3 top tips for anyone starting out as a bookkeeper. This weekend, I'm working my way through some of the nominations for this year's LUCA Awards. For anyone that doesn't know, they are the Oscars of the Bookkeeping world and are presented to the very deserving winners at the ICB UK (Institute of Certified Bookkeepers) Awards Dinner in November. I am so excited to be a guest judge this year, and it's wonderful to read all the amazing ways bookkeepers are helping and supporting businesses in the UK to thrive. Every business owner deserves to have a good bookkeeper supporting them and I am currently reading the nominations from the best of the bunch! So what would my 3 top tips be for anyone starting out? 🌊 Systemise everything! You might only be you in your business, but if you write down all your systems and processes now, before you get too busy, you will be future proofing your practice. So get those emails templated out, write down your workflows and decide what extra touch points are going to make your business special. 🌊 Pricing! Get your pricing sorted out right at the beginning. Personally, I advocate using fixed prices. Why should you get paid less because you've become better at the job and more efficient? Come to that, why should your client pay more just because you're having a bad day? Make sure you include enough margin in your pricing to cover things such as attending events and keeping your CPD up to date. 🌊 Get your branding sorted. It's more than just a name and a logo, it's your story, it's what makes you unique. It can really help with your social media and marketing too. You can find out more about how I've developed my brand by joining my webinar that's part of FreeAgent Bookkeepers Boost Week on October 10th. Applying for a LUCA Award may seem like a distant dream to you at the moment, but we all started out somewhere. I certainly never thought I'd be a judge! So start building your brand, nail your processes and have confidence in your abilities to start charging what you're worth. Who knows where it might lead! 🌊 So what would your top three tips be to anyone starting out? 📷 by Lisa Farrall taken on her recent workation. One of our core brand values is flexibility 😊🏖️ If you see me a Summit, come and say hi 🤗

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#DearBusinessLeader, your budgets can be a useful and reliable tool for navigating financial decisions more comfortably. Looking forward to showing you how on December 17th! Secure a spot for yourself and/or your accounting team ⬇️⬇️⬇️

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So every accountant, tax adviser and financial adviser in the UK has probably issued a budget summary so I won't repeat those very similar reports. Instead I thought I should comment on just a few specific aspects. This time the changes in Employers NIC. There have been comments along the lines of "if you have under 6 staff you are probably better off but over that number the new rules will cost you more". It's not as simple as that. Suppose you have a wages bill of £250,000 (gross excluding NIC). If you have 5 employees earning an average of £50,000 the increased NIC will have hardly any affect at all. However if you have that same gross wages bill but that is spread over 10 employees your NIC is going up by over £2500. If you use a lot of part timers such as in the hospitality industry and that £250,000 is for 20 employees your costs are going up by £7,600 and 25 employees will cost you an extra £10,000. This is definitely a tax on jobs and employers will either not be giving pay rises or they will be cutting back on staff putting increasing pressure on those who remain. One final thought. The largest companies will eventually replace their UK employees with overseas staff and Ai thereby avoiding PAYE costs completely. Inevitably the burden will fall on the smaller businesses who rely on great service to compete but great service needs motivated employees. Stupid, stupid idea. #budget

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Funding is often crucial for the growth of organisations at various stages. This is often very relevant for startup business. Our latest blog explains the process for EIS/SEIS schemes. We’ve successfully assisted numerous businesses with advance assurance applications as well. There are some exceptions to who can apply but this can be a tax efficient way to attract equity funding from investors. #seis #eis #startups #funding #growth

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Big Digital Digest episode this week. John Toon and I dive into mid-tier accounting systems, comparing and constrating them as well as our normal #bedbuybin at the end. Full episode here https://lnkd.in/ezyZpSVf Lots of systems we discuss and so this is a bumper episode at 25 minutes. We cover iplicit, AccountsIQ, Exact, Twinfield, Xledger UK, Access Finance & Accounting, Odoo, Intuit QuickBooks, Acumatica and Infor. We identify when you would want to consider systems in this space, the benefits of them over their smaller and larger counterparts and which ones to seek out in specific circumstances.

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As Accountants and Bookkeepers we are probably looking ahead to the budget in a couple of week to see what impact it has on us and our clients. However perhaps almost as significant are the workforce reform proposals being discussed. Have you stopped yet to consider the impact on you and your clients? The proposals feature some far reaching changes affecting all parts of employing staff. If you have not yet looked into the detail then I am chatting with Lauren Sanders, our HR Director at Farnell Clarke Limited and Sophia James (Assoc CIPD) from SafeHR on Thursday this week (17th October) at 10:30 to discuss the proposals and their impact. In the session we will cover the main areas of change and how they could impact not only your own firms but your clients too. Whilst the changes are not happening overnight anyone planning for growth needs to me mindful of any potential impact on their cost assumptions. Anyone registering will also be provided with a one page summary produced by SafeHR that you can use to share with clients to highlight what we know so far. This will be a hugely informative session ensuring you are up to speed on the proposals and will highlight ways for you to add extra value to your accounting and payroll clients. Register to join us live or to access the recording (and the one pager) if you can't make it at 10:30 on Thursday. Register here https://lnkd.in/eb9pj-NR

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Why we are one of the fastest growing Accounting Firms in the UK🔥 When we founded Ultra Tax Ltd, our vision was simple yet profound: to provide straightforward, honest accounting services that truly support our clients. We know how daunting dealing with taxes and financial matters can be. That’s why we’ve made it our mission to alleviate that stress and help you maximise your tax rebates, save every possible penny on your tax returns, and see your business flourish. 🧘‍♀️💷 One thing that sets us apart is our personal experience as business owners. We understand the challenges you face because we’ve faced them too. This shared experience allows us to connect with you on a deeper level, understanding your needs and concerns. At Ultra Tax Ltd, you’re never just another client. We are dedicated to ensuring you reclaim everything you are entitled to and save as much money as possible. Our personalised service and meticulous attention to detail mean you always receive the best care and advice. 🤝✨ Our commitment to excellence has earned us a 100% client satisfaction rate and glowing five-star reviews. We’re incredibly proud of this, but we never rest on our laurels. Every day, we strive to uphold these high standards and improve our services even further. 🌟 Unlike many firms, we don’t believe in binding our clients to long-term contracts. We are confident in the value of our services, so we don’t need to. You have the freedom to choose, but we are certain that once you experience the level of dedication and support we offer, you will stay with us. We provide unlimited free consultations, ensuring that you always have access to the guidance you need. If we are ever unavailable, which is rare, we promise to get back to you as soon as possible. 📞💬 Our range of services is extensive, designed to meet all your business needs. From self-assessment tax returns and tax rebates to property tax returns, crypto tax, CIS tax returns, company accounts and more, we aim to be your all-in-one solution. We understand that there are bigger, more experienced companies out there, but none can match the level of personal service and commitment we provide. 📈🏆 At Ultra Tax Ltd, we believe in making tax and business matters as simple and manageable as possible. We don’t want to drain your finances; we want to see you and your business succeed and grow. 💼🚀 If you’re curious about how we can help simplify your tax and accounting needs, feel free to reach out. We’re here to support your financial goals with confidence and ease. Experience the Ultra Tax Ltd difference – where your success is our priority. 🌟 #Accounting #BusinessGrowth #ClientSuccess #FinancialHealth #TaxTips #UltraTaxLtd #CustomerSatisfaction #BusinessSupport #TaxSavings www.ultrataxltd.co.uk

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Here’s why we aren’t just compliance accountants and why we are the backbone to our clients finance function 😉 Many SMEs think that their taxes need to be filed and accounts submitted, like that’s enough to deliver value. But most of the time there is f**k all communication and f**k all effort. This is a huge problem. So we took a strategic and proactive approach to our model when we started up - monthly client meetings and live information were the core of our niche offering. We’ve taken on numerous clients from previous accountants - every time we’ve opened up Xero and seen 0 systems in place. Literally nothing 😳some still on sage 50 🤢 What we have noticed is that we’re built to scale with a consistent approach. Not take on too many clients and hire endlessly with reliance on someone with no experience or understanding. If you are in the market for a new accountant - remember, tax is a small part of the offering, proactivity can’t be taught to the lazy firms out there.

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Today's market for interim ACA accountants in the UK is looking better. Looking at the current landscape, there's good news for interim ACA accountants. The demand for temporary financial expertise has seen a rise, driven by businesses needing flexibility, especially during periods of economic uncertainty. Interim roles offer a practical solution for companies looking to adapt quickly without long-term commitments. What's noteworthy is the range of opportunities. Whether it's managing year-end accounts or overseeing financial restructuring, interim ACA accountants are playing important roles across sectors. There's a significant need for these skills, particularly in helping companies stay compliant and financially sound. Plus, many businesses appreciate the fresh perspectives interim professionals bring. If you're an ACA looking for interim opportunities, the market has potential right now. Companies are keen to leverage your skills and experience. Why not explore new challenges and make a real impact where it's needed most? #findyourforte #accounting #careeropportunities

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Many businesses stick with their accountants if they think they're doing a good job. But what if there are unseen issues, especially with HMRC? Incorrect figures, unexpected taxes, and unresolved arrears can trigger the need for a change. If you're facing challenges or just want a second opinion, leave a comment or send me a message. #Business #Accounting #Startup

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Steal my finance strategy to grow your SME ⬇️ We wish it was that easy. Your finance strategy should be bespoke. It should be driven by YOUR data, not mine. Only an expert CFO (fractional or full time) should be strategising for your business. Find a fractional CFO with us at The Finance People: www.thefinancepeopleuk.com #cfo #fractionalcfo #SMEs #startups #financestrategy

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Another role registered with Aila Recruitment | Certified B Corporation® this week. 🚀 This time it’s a £90,000 Finance Manager role in a FTSE Software Firm in Central London. ⭐️ Are you a technically strong ACA/ACCA Accountant? ⭐️ Have you worked in a Reporting/ Controls role? ⭐️ Is that in a SaaS or Financial Services? 👇🏻 Hear more about it in this short video below 👇🏻📹 #recruitment #financerecruitment

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'It's vital the #tax system supports growth' Encouraging words from Rt Hon Rachel Reeves. However, the pledge to cap corporation #tax at 25% in practice means little. The yield collected from headline rates of #tax can be varied by adjusting reliefs. Ask private landlords. The restriction on mortgage interest deduction has resulted in higher tax payments, though no change in the headline rate of #tax. Crowe UK Crowe Global Rachel Reeves to lay out ‘tax road map’ for businesses in UK Budget - https://on.ft.com/3MwOnOQ via @FT

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I'm concerned that a number of smart tech savvy accountants & bookkeepers are, like me, confused by the wording around the recent communication around price increases from Airwallex. One thing I know, is you need to tell your partner manager you want your AIRWALLEX account treated as a 'Partner' account. I've also been told, that you need to transfer $5K into and out of the account every month, if you want the newly introduced monthly fee to be waived, and you are not maintaining a $10K balance. Several people have told me they simply shut their #AirWallex accounts down. What are the alternatives? Wise ? #AccountingAndAccountants

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What is our mission at Innovate Accountancy? Many business owners do not need full time finance teams but struggle to recruit part time. If they need a finance team for a fraction of the team, it makes sense that that should cost a fraction of the cost right? Why not enquire about our cost effective virtual finance team - fractional hours, fractional costs, same level of expertise 👏🏼

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