Barnett & Turner Accountants Ltd | Latest News
Chartered Accountants & Chartered Tax Advisers based in Mansfield, Nottinghamshire
accountants mansfield, accountants nottingham, accountants nottinghamshire, accountants, tax adviser mansfield, tax adviser nottinghamshire, tax accountant mansfield, tax accountant nottinghamshire, chartered accountant mansfield, chartered accountant nottinghamshire, accountancy mansfield, accountancy nottinghamshire
9897
blog,paged,paged-13,ajax_fade,page_not_loaded,,qode-title-hidden,qode-theme-ver-7.8,wpb-js-composer js-comp-ver-4.8.1,vc_responsive

16 Jun Thinking of becoming a limited company? Time to go goodwill hunting…

It’s a conversation that many sole traders periodically have with their accountants. Is it a good idea for me to incorporate as a limited company? Although the answer isn’t always clear cut and can depend very much on individual circumstances, there are clearly a number of potential advantages. The rate of corporation tax for small companies is attractive, of course. There are savings on national insurance. And by finding the optimum balance between salary payments and dividends, you can manage your tax affairs more efficiently. Often accountants will present the transition as being very straightforward, which at many levels is exactly right....

Read More

09 Jun When assets need replacing, there’s no need to sweat.

In many businesses, the key asset might be the knowledge and experience of the staff or possibly a valuable piece of intellectual property. Other companies, however, depend heavily on very specific capital assets. The presses used by a printer, for instance. The limousines of a wedding-hire firm. Or perhaps the fixtures and fittings of a gym. But what happens when these vital pieces of equipment or property start to deteriorate? The investment required to replace them can often seem daunting to a small or medium-sized business, particularly if they are already trying to manage existing financial repayments. One option is to replace...

Read More

30 May The automatic solution: talking to your accountant about pensions

Back at the beginning of the 20th century, when the first old-age pension was introduced in the UK, there were 10 people of working age for every person drawing their retirement income. Today, that ratio is 3:1 and it’s set to drop still further to 2:1 by 2050. Given that our pensions are covered by the current working population, it’s hardly surprising that government has – for many years – been worrying about the long-term sustainability of state provision and urging us all to supplement our pension with private plans. In 2012, we moved from gentle cajoling to a more formal system,...

Read More

09 May In a partnership or LLP? New tax rules have big implications.

Partnerships have long been an attractive structure for people running small businesses. They’ve been particularly favoured by owners of professional practices – from solicitors and accountants through to architects and dentists. The fluidity of the arrangement allows partners to change with few tax implications – something that becomes more problematic within the confines of the traditional limited company. From 6th April 2014, new legislation came into  effect which has led many businesses to think again about their partnership status. The first issue concerns the use of ‘corporate’ partners as a way of managing the tax affairs of the partnership. Given that the...

Read More