Sanjay Tailor

📅 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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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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Wonder what it's like to work with us? We're bookkeeping without the boring! We love working with like-minded clients who share our values. #bookkeeping #bookkeepingservices #smallbusinessuk #clientfeedback #testimonials #reviews

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Talking about ideas.. good or bad 💭 Talking to a customer last week about ideas for their business development Now we manage their accounts, we don't run their business. We talk regularly so I know what their aims and goals are. However, I had an idea about their business that I wanted to share with them about their business. 💭 I want to see them succeed and grow to where there want to be, so I went through my idea with them. 💭 We talked about my business thoughts 💭 He listened to my ideas 💭 I explained, if my ideas and thoughts are a step to far.. tell me to shut up His response was awesome.... "No way, you tell me your ideas because they could be a shit idea but better than mine" A valuable lesson! Share your ideas because no matter how shit they are, they are better than no thoughts.

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NATIONAL LIVING WAGE (NLW) AND NATIONAL MINIMUM WAGE (NMW) Employers must pay their employees at least the NLW, for workers aged 21 and over, or the NMW otherwise. The minimum hourly rates change on 1 April each year and depend on the worker’s age and if they are an apprentice. ** 1 April 2024 – 31 March 2025 ** NLW - age 21 and over = £11.44 NMW - 18-20 year old = £8.60 NMW - 16-17 year old and apprentice = £6.40 ** 1 April 2025 – 31 March 2026 ** NLW - age 21 and over = £12.21 NMW - 18-20 year old = £10.00 NMW - 16-17 year old and apprentice = £7.55 The percentage increases for the 18-20 year old rate (16.3%) and the 16-17 year old and apprentice rate (18.0%) are significant. This is a step towards Labour’s ambitions for all adults to receive the same minimum wage. While this is good news for workers, employers will need to carefully consider affordability when planning their headcount for the year ahead. #NationalLivingWage #NationalMinimumWage #AutumnBudget #accountants #CloudAccountants #TheCloudAccountants #SmallBusinessAccountantSpecialists #AdamFernandes

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Hi everyone 👋 For anyone who isn't familiar with me Maria McHugh FCA or my business McHugh Accounting and Consultancy here is a little intro with details about what I do and how to get in touch 👌 😃 If anyone would like to get in touch you can msg me here or send an email to [email protected] 👍 #Ireland #business #irishbusiness #irishtax #accountancypractice #charteredaccountant #accounting #tax #smallbusiness #supportsmallbusiness

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I love a nice confirmation message - have you done your P11d? The deadline is fast approaching (Sat 6th July) and it's nice to tick things off my list. ✅✅ 2 sets of accounts submitted today ✅ P11d submitted ✅ Happy client visited today and we can really see the progress we have made as we approach his year-end. Heading into the weekend on a high - off to find some Pimms with strawberries 🍓 #busybookkeeper #bemorebookkeeper #clientdevelopment

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How do you pay yourself as a company director? If you started out as a sole trader you're probably used to taking money out of the business as and when you need it. Or perhaps you've been employed and are used to that regular income. It can be a bit of a transition when you're suddenly a director and you're unsure of the best way to take money out of the business. There a few different ways you can pay yourself as a company director. You can choose to become an employee of the business and pay yourself a salary which will be subject to PAYE and NIC contributions. You can receive dividends, this can be as well as a salary or just on their own but they will be treated differently when it comes to your tax bill. You'll need to complete a self assessment for income tax. It's important that you choose the right method to pay yourself as it can have cost implications, and one of them may be more tax efficient, but it all depends on your and your business's circumstances. If you're unsure then please get in touch.

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I'm going to start this post with a caveat...... I think VAs are great at helping you with many aspects of admin work BUT Unless they are qualified to do so, they should not, under any circumstances, be providing bookkeeping services!!! Why? I hear you ask Well, there are 3 main reasons 1) They, more than likely, don't have the relevant qualifications do so and therefore they haven't been taught how to do it properly and fully 2) They are under no obligations to complete regular CPD to keep themselves up to date with the many and varied changes that HMRC make to business finances, vat rules, tax law etc 3) Because of the above 2, they are very unlikely to carry Professional Indemnity Insurance to cover them, or more importantly, you and your business, should they cock things up When choosing a bookkeeper, look for one who is qualified either through the ICB or AATBQ, ask to see their certificate, ask to see their professional indemnity insurance and ask what CPD they do After all, it's you who will ultimately be held responsible for the errors on your vat return, tax submissions and accounts, not them!! #bookkeeping #VAs #tax #vat

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The income statement, also known as the profit and loss statement, is a vital financial document that provides insights into your business's financial performance over a specific period. Here's why it's essential for businesses: Contact Expert Accounting and Finance for further information or advice, we are happy to help 📞 0207 887 2437 📧 [email protected] 🌐 http://www.expertacc.com #accounting #finance #cashflow #tax #CPA #AccountingFirms #SmallBusiness #QuickBooks #Excel #Accountants #financialplanning #investing #bookkeeping #taxes #entrepreneur #payroll #accountingservices #cpa #taxseason #businessowner #accountingsoftware #gst #taxreturn #startup #taxpreparer #charteredaccountant #payroll #lovemyjob #incometax #happyfriday

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Employers National Insurance Contributions ! ⭐️ ALERT ⭐️ If you need help with your national insurance bill due to the changes in legislation get in touch....we are helping a range of business owners reducing liabilities owed to HMRC ! IP3 Tax has tailored payroll solutions for businesses which require an edge over their competition. For a consultation, click the link below. www.IP3Tax.com Complete Tax intelligence #business #entrepreneurship #businesswoman #businessowner #businesslife #marketing #entrepreneurs #entrepreneurlifestyle #businesswomen #entrepreneurlife #businesstips #money #businessopportunity #businesscard #businessmen #successquotes #ambition #businesses #grind #motivational #entrepreneurquotes #accountant #entrepreneurmindset #shahcoach #moneymindset #businesscoach #taxadvisor #accountant #payrollmanagement #payrollservices #taxplanning #LimitedOffer

📣 Just a brief public service announcement for a Friday morning 📣 I’ve seen so many things lately about how many clients/sales at £X/products to sell you need to make £100k in your business, making it look like it’s a walk in the park to become absolutely wadded 💷💰 And that’s great, I’m absolutely here for it - to hit six figures is incredible for any business owner 👏🏻 The headline loses its punch if your costs are £150k for the year though 🙈 So the PSA is this: don’t get seduced by the headline. Think about your costs and whether the products/services you’re selling are actually profitable too 🤔 Go forth and Friday, good people of LinkedIn. 💃🏻🪩 #growthaccountant #businessowners #sixfigures

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🏗 Construction business owners... 😫 Do You Struggle With: ▶ Getting hold of your accountant, or getting straight answers ▶ The burden and time drain of day to day finances and bookkeeping ▶ Having the data and confidence to make informed decisions ▶ Getting off the tools so you can grow your business ▶ Worrying about Tax, CIS and VAT ▶ Understanding where your profit and money has gone ▶ Getting your margins under control ▶ Reducing taxes and keeping more of your money 😌 Then Let Us Help You: ▶ Free up time ▶ Get off the tools and spend more time with your family ▶ Take away the day to day financial burden of running a construction business ▶ Reduce stress and create time to run your business ▶ Have peace of mind ▶ Pay less tax ▶ Focus on growing your business Your accountant should be an asset to your business. Ready to take action? Message me https://lnkd.in/eJNEkQKd

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Looking for a tax efficient way to save for the future? Consider pensions! Saving for retirement while lowering your tax bill? 💰 Pension contributions offer tax advantages for both you and your business. Let’s explore how pensions can be a win-win... #PensionSavings #TaxEfficientSavings #ConstructionFinance #TaxRelief

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Question to UK micro and SME business owners. What is the biggest issue that’s facing UK business at the moment? This could be challenges you’re facing or maybe challenges that you’ve heard clients or fellow business owners are having. #Business #UK #SME #Networking #accountancy #UKSME #UKBUSINESS

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"Your R&D claim isn't valid, despite what your advisor told you. The only thing you can do is tell HMRC you made a mistake and pay back the money they sent you." Whilst I seem to tell business owners this a lot at the moment, I spoke to one today which is even more concerning. In this case the company owner signed up with a consultancy firm for a variety of services, R&D got mentioned but they never went any further with making a claim. So, it was a bit of a shock when a few weeks ago they received a letter from HMRC saying they are opening a compliance check into the R&D claim they submitted last year. After their accountant spoke to HMRC it appears that the consultancy firm went ahead with an R&D claim, without the company owner knowing and nearly £50k was paid to the consultants bank account last November. When the company owner asked the consultancy firm what is going on, and more importantly where is the money?, they got fobbed off with some nonsense about it being "normal HMRC procedure" which they will deal with and if the compliance check is successful, then the company will receive the funds. I've seen a copy of the response to HMRC and it's nonsense, no qualifying R&D has taken place and even if it did the competent professional listed doesn't have any qualifications or experience in the correct field. Unfortunately for the company owner if HMRC agree that the claim isn't valid they will have to pay back the funds they didn't receive and as the consultancy firm is only 12 months old, it will likely be liquidated before legal action can be taken. Since 1st April this year HMRC stopped R&D payments being made to agents, but I wonder how many R&D claims were made before then which the claiming company didn't even know about? As if HMRC hadn't opened a compliance check into their claim, the company owner would have been none the wiser that a claim was even made.

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When is pizza and other food you buy for yourself an allowable business expense? For everyday food and drink, the simplest answer is that you can claim when you’re travelling on business. However, it’s not really that simple at all. Find out more in our blog: https://lnkd.in/e79Vmprh #bookkeeping #bookkeeperolney #bookkeeperlavendon #bookkeeperbedford #bookkeepernorthampton #bookkeepingservices #financialrecordkeeping #funnyfriday

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