Nikolai Naylor

Who Our Tax Planning Tips Are For (and Who They’re Not For) Are you a small owner-managed business in the UK looking to optimise your tax planning? Our latest blog post is tailored specifically for YOU! **Who This Is For:** ✅ Small business owners managing their own finances ✅ Entrepreneurs operating from home ✅ Business owners seeking to maximise tax deductions and reduce liabilities ✅ Those who want to better understand mileage claims, capital allowances, and more **Who This Is NOT For:** ❌ Large corporations with dedicated finance departments ❌ Businesses with complex international tax structures ❌ Owners who do not manage their day-to-day finances Our comprehensive blog covers everything from home office deductions to capital allowances, ensuring you’re making the most of your tax benefits. Don’t miss out on valuable tips to keep more of your hard-earned money! 👉 Read more:https://lnkd.in/ekWCaCF6 #TaxPlanning #SmallBusiness #MicroBusiness #UKBusiness #FinancialTips"

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🎯 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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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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For business owners, the concept of ‘keeping your shares til you die’ has just ended. Succession planning is more important than ever and the earlier you act, the better. #starttheconversation Crowe UK #familybusinesses

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30 WAYS C.I.K. Accounting Solutions CAN HELP YOU THIS WEEK If these pain points resonate with any #businessowner please get in touch. 👉 I don’t have time to price my product or service accurately   👉 I don’t know how to price my product or service accurately   👉 There’s never enough cash in the bank   👉 The margins aren’t good enough but how do I improve them?   👉 I don’t know my breakeven point   👉 What would my net profit be if I increase sales by 5%, improve the margin by 2% and reduce overheads by 1%?   👉 Some customers take the p.ss when it comes to paying their bill   👉 I have supplier issues with quality, price or lead times   👉 Getting good staff gets more and more difficult   👉 When is the best time to buy new plant and equipment?   👉 I’m terrified to put my prices up in case my customers go elsewhere   👉 The business is drifting along and I don’t know where it is going   👉 I know where I want to take the business, but I don’t know how to get there   👉 I need investment to grow my business   👉 I work too hard. I need to get some time back for me   👉 I work in the business all the time. I need to work on it not in it more   👉 I don’t have anyone to bounce ideas off   👉 I need a bit of guidance and mentoring from time to time   👉 I’ve been approached by a competitor to buy them. Should I?   👉 I’ve been approached by a competitor to sell out to them. Should I?   👉 I want to scale my business but not sure where to start   👉 If I need £50k in my hand per annum to live, what does my turnover need to be?   👉 I’m a sole trader, Should I transfer the business to a limited company?   👉 I run my business through a limited company. Should I be a sole trader instead?   👉 Can my company start making pension contributions for me?   👉 Do I need health insurance? Critical illness cover? Income protection?   👉 I need a mortgage but don’t know if my figures are good enough   👉 My fixed rate mortgage is coming to an end. What should I do?   👉 Should I consider a buy-to-let property as part of my pension plan?   👉 Should I own my buy-to-let in my own name or in a company? Have a great week everyone 😊

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This week is mental health awareness week. Our clients' mental health is at the heart of everything we do here at NHD Tax Solutions Ltd and this shared value is one of the reasons why our team work so well together. An email to me from a potential client during the past couple of weeks included the following sentence: "I have been very impressed with you, not just your professional knowledge and experience, but your thoroughness, and kindness too". Receiving this feedback made me very happy because this is exactly the impression I try to give. I have conversations on a weekly, at times daily basis, with individuals dealing with a once in a lifetime, often traumatic HMRC issue. This is normal for me but it is not normal for the taxpayers concerned and my role is to spend as long as needed to help the individual share information with me that they may not yet have shared with anyone else, not even their close family. I gather all of the information I need to propose a way forward and offer plenty of reassurance along the way. Taxpayers requiring support with a tax dispute all have a unique story and all of our clients receive a tailor made strategy and our way of working, communicating and meeting with our clients fits around their needs. Those with a tax dispute may or may not have made mistakes in the past. One thing many of my client's have in common is that they want to put things right and I therefore do my very best to help them with that and to achieve the right result with HMRC.

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Our clients are brilliant at what they do but often busy spinning so many plates, they don’t have time to really focus on maximising their profits. Many business owners find themselves drowning in the day-to-day, with little time left to focus on the financial side of things. But here's the key, strong financials are the bedrock of all successful business. They're the engine that drives growth, profitability, and sustainably. If this sounds familiar, why not join our Profit Academy – it’s a six-week investment, one hour a week, outlining how to leverage your Key Business Drivers. It’s packed with low cost and no cost strategies that I guarantee will make a huge impact on your profits. PLUS, we'll link your cloud accounting to our reporting which will enable you to: • Improve your financial management and gain control of your numbers • Identify opportunities to increase profitability • Optimise your Cash Flow • Create a ‘what if’ plan to scale your business • Understand your business valuation today and what it could be worth, when you exit. 🌐 Learn more here: https://zurl.co/cgdNF 📞 Call us on 01296 662322 today. #Profit #PalmersAccounting #BusinessGrowth

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If you have submitted a self-assessment return and later realise you need to make changes, there are specific rules to follow. This situation might arise if, for instance, you entered a number incorrectly or omitted certain information from your self-assessment return. #SelfAssessmentUpdate #TaxReturnAmendment #HMRC

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Inheritance Tax (IHT) is one of the top agenda items for family businesses following the 30 October Budget. The article below (as shared by Simon Jones) is great read for those interested identifying issues and options. BDO are perfectly positioned to advise family businesses in what is a complex area. #IHT #BPR #valuations #privatebusiness Tahir Ebrahim Ben Handley

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The upcoming Autumn Budget is making some businesses nervous. Right about now, your accountant should be working with you to help you weather the storm. If you're looking for a helping hand, give me a call on 01208 74615. #planning #autumnbudget #accounting #Cornwall #Bodmin

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✨ "What prompted you to get in touch?" ✨ I ask this open question to all female business owners in our initial discovery call. The answer is rarely just "I need an accountant/a new accountant". Their response often reveals so much about: 🌿what their values are 🌿what their pain points are 🌿what goals they are looking to reach 🌿how they like to work and communicate Below are some of the reasons business owners have enquired with Beaver & Bee Chartered Accountants this year. 👇🏽 Any of these sound familiar? 💌 I'd love to chat - simply DM to book in a discovery call. --------------------------------------------------- 🙋🏽‍♀️ I'm Preesha, founder of Beaver & Bee Chartered Accountants. 🌿 I help female entrepreneurs feel calm, clarity and confidence about their numbers so they can have a profitable and fulfilling business.

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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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We offer advisory services.. we can help you run and grow your business with our dedicated FD/CFO Service. How about that?! 💥Not sure what to do to grow? 💫Struggling with the admin of running your own company? 💥Can't work out if you've made a profit? 💫Is your bank balance not going up? 💥Are you struggling to pay your VAT or CT bill? 💫Are customers not paying on time? 💥Is your purchase ledger overwhelming? 💫Do you need to employ more staff? 💥Are suppliers ringing and chasing payments? You really do need to know why...don't leave it to chance. Things like this don't fix themselves. Project work or monthly support available.

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📅 Self-Assessment Tax Deadline Alert! 📅 Let’s start 2025 stress-free – reach out today! Morecambe 👉 01524 566190 Leyland 👉 01772 984 985 Wigan 👉 01942 233737 A friendly reminder to all our clients: the self-assessment tax return deadline is 31st January! Make sure you’re on track to avoid any late fees. If you need assistance or have questions about your return, our team at Verve Accountancy is here to help. Get in touch with us soon to ensure everything is in place well ahead of the deadline! - - #SelfAssessment #TaxReturn #Accounting #VerveAccountancy #BusinessAdvice

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As your business evolves you may want to consider the shareholding in the business and if you should transfer shares to family members. This can be tax efficient as it allows family members to utilise dividend tax rates, (unless Rachel Reeves F@cks that up) whilst keeping the money tight within your family circle. However it should not be done without planning and consideration. Moving shares means you are transferring ownership of the company along with voting rights etc. A 50/50 share split between husband and wife is common and it is also possible adult age kids into the mix aswell. We would always recommend a shareholders agreement (but no one ever listens) to deal with what happens if things go pear shaped. Its also worth considering keeping it your pants if you have transferred shares to wife and kids as you could find yourself a minority owner of your business if captured, so keeping the Mrs happy is important in this type of setup. I did once have a conversation with someone who was considering divorce and gave him the best piece of advice he ever had "Buy her some flowers and say sorry" as she owned half the company and has access to all the bank accounts. #Shares #Kids #Infidelity

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Today I am on another ICB UK (Institute of Certified Bookkeepers) to encourage you to join the most fantastic community and start your bookkeeping business. See you on at 11am. This is me in my home office - look at those certificates and I am still studying for me - if you do everything that is available then you can do everything apart from audit - so start ups, sole traders, limited companies, charities* (*some restriction may apply) Personally, I like to work with limited companies and act as the full accounts department, or a part of one when they get large enough to warrant it. What do you need to be a bookkeeper? * determination - to see the job through, and not let things slide * ethics - see above * tenacity - some people will try all sorts so be on your guard * timeliness - HMRC waits for no one * patience - asking for the same thing multiple times can get annoying * empathy - some people have a different view of numbers and don't like them, so they avoid them - be kind, help and you both win * strength - to stick to your boundaries. If that is school hours 9-3 well good for you. If you want to work late nights / early mornings then you do it. Just because someone drops something off late doesn't mean it's your fault. * flexibility - because sometimes stuff gets in the way and you have to rejig your calendar * professionalism - do not bring our lovely industry into disrepute * friendly & approachable - on a recent branch survey this was the outstanding response to everyone in the Cambridgeshire branch * willing to help others - there is plenty of work. If it's not your ideal then pass it on to someone who loves that industry/niche. #Karma - it comes back. Also includes working with software vendors to improve issues (instead of just moaning) * software choice - that's just it A CHOICE. I'm an Intuit QuickBooks lover and have gained clients (direct and subcontract) through that. But it's not about your choice - it's a combination of your skills and WHAT THE CLIENT NEEDS!! What have I missed from my list? #bemorebookkeeper #ICBeTheBest #flexible

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BUSY BUSY morning today on a webinar with some Interior Designers in partnership with Polly Williams at Camberyard 👍👍 Explaining how getting the basics in place in respect of their accounting and bookkeeping is KEY to success in their business ! 🌸 Simplify the admin and compliance with HMRC - which is NOT in any creative … 🌸 Know all the basics in your business so you have some understanding of what’s happening 🌸 Remove the Fear of HMRC - nothing to fear but do your compliance quickly and then get back to your clients !! 🌸 Get your Xero or Quickbooks in place PROPERLY 🌸 Keep your Bookkeeping up to date - llittle and often is enough but BEWARE of leaving it to 200/300 transactions after ignoring it for weeks 🌸 Ensure you know enough to take decisions on your business, make a profit and improve on your pitches & quotes That’s it for every business (and not just Interior Designers) get the basics right and you have the foundation for your business in place …..🎉🎉🎉 NEXT Webinar at the end of October (Tips on Pricing, Pitching and Profits I think ) 🤔

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https://lnkd.in/eG38Stkf Basis period reform. If you’re a sole trader or partner in a partnership with a normal financial year end other than 31st March or 5th April, then this is imoortant reading for you. #soletrader #selfassessment #basisperiod

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