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Zooming In On: How To Keep EA And 3k In Your Business

2020’s new tax year is bringing with it a whole host of changes. Firstly, IR35 is looming on the horizon and now there are proposed changes to Employment Allowance (EA). This could see small businesses and employers lose up to £3,000… Here’s why, and our advice on how to keep that £3k firmly in your pocket. But, before we begin, …

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IR35

IR35 is a topic that’s been talked about, and on many of our minds right now, particularly with the revised legislation from April 2020 fast approaching. From this date, it will be an employer’s responsibility to determine an individual’s employment status. But what does this legislation mean, and how will it affect you? Here’s what we like to think is …

Making Tax Digital could miss the April 2019 rollout

Will the initials MTD now stand for Missing The Deadline? HMRC’s new Making Tax Digital (“MTD”) programme was scheduled to be rolled out to small businesses from April 2019. However, following a scorching report from the House of Lords committee on economic affairs, the rollout may now be delayed by another year. This will be good news for many small …

The Budget 2018

Chancellor Phillip Hammond presented his Autumn Budget on Monday 29th October. He skilfully avoided making the speech on the actual day of Halloween itself but was his famous Budget case full of horrors or a pre-election giveaway ? Marc Bennett of AEL Markhams, provides some insight on how the key budget measures may affect business owners. Click here to read …

Managing the Monster

YEAR END TAX REVIEW 2017-2018 The tax system behaves like a hydra monster, no sooner has one head been chopped off, two more grow in its place. From April 2018 the UK will have three versions of land transaction tax and three types of landfill tax (in Scotland, Wales and the rest of UK). There are also likely to be …

Offshore Non-Compliance

IMPORTANT NOTICE TO ALL CLIENTS from Marc Bennett : Tax Investigations as a result of Offshore non-compliance – VERY IMPORTANT I am writing to advise you that if you have any under declared taxes from overseas assets i.e. tax that should have been paid on bank interest, property income or other overseas assets, then it is vitally important that a …

View from AEL: Take Stock

The expression “take stock” is a well-worn idiom meaning to consider first and act later. But it’s quite remarkable how many independent optical practices don’t set aside the time to consider how decisions on stock control can affect the profitability of their practice. Successful retail incorporates how improved inventory management can impact on key areas such as Profitability; Practice Valuation; …

News

HELLO, WELCOME TO THE AEL NEWSLETTER Business Owner #1: “Are you busy?” Business Owner #2: “Yes I’m really busy.” Business Owner #1: “That’s great, you must be making enormous profits” Business Owner #2: “Errm…actually no, I’m too busy” Recognise the above? This recurring conversation between business owners takes place every minute of every day. Building a sustainable, profitable, and world class …

View from AEL: Take Stock

The expression “take stock” is a well-worn idiom meaning to consider first and act later. But it’s quite remarkable how many businesses don’t set aside the time to consider how decisions on stock control can affect the profitability and cash flow. Successful retail incorporates a whole variety of operating issues relating to the topic of stock. You might like to …

View from AEL: Jan 2018

The month of January should be a fresh start to a brand new year. A chance for practice owners to embrace and implement the changes needed to both compete and flourish. However, for many, the wave of optimism is dampened by the looming spectre of tax bills where payment once seemed so far away. There is no escape from having to …