5 Essential Apps For Your Paperless Cloud Business

While a completely paper free office may be a fantasy, it is becoming more of a reality. A change of working practices is required to make it work as well as the right tools for the job. Here are my top 5 to help you on your way: Receipt Bank  If there’s one piece of…

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Business startup exemption from tax for soletrades

Business startup exemption for soletrades  Budget 2014 introduced a new business startup exemption for people starting a new business.  This is a significant development as previous similar tax reliefs and exemptions applied only to limited companies. Who is it for? To qualify for this you must have been unemployed for at least 12 months.  There’s…

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3 ways your accountant can add value and help grow your business

Accountants are seen by many as a necessary cost to be incurred in order to be tax compliant.  Here are three things accountants can help with that can be of real value to a business.  Each service described below brings the involvment of the accountant deeper into your business resulting in even greater value as…

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What are taxable sales or supplies for VAT?

One of the conditions for a business to register for VAT is that it must be making taxable supplies of goods or services. This is generally straightforward as MOST goods and services are taxable supplies.  Here we will address a confusion that often arises: VAT exempt supplies versus zero rated supplies. But what is a…

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The end is nigh…of the month – accounts monthly checklist

Month end routine to keep your accounts in order The end of the month is natural financial reporting point.  Here’s an accounts monthly checklist of what you need to be doing to keep on top of your accounts, manage your cashflow and keep your accountant happy. Accounts monthly checklist: Prepare, CHECK, authorise and pay wages…

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So what’s REALLY in Budget 2013 for small business

It was refreshing to finally hear the Minister for Finance focus on Small & Medium Enterprises (SMEs) in Budget 2013.  For too long, in my opinion, the emphasis of successive administrations has been on foreign multinationals and exporting indigenous businesses.  While that sector should be nurtured it shouldn’t be done at the expense of the nuts and bolts of…

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Changing from a soletrade to a limited company

Changing from a soletrade to a limited company Many people start out in business as a soletrader and once the business is off the ground “graduate” to a limited company. There are various reasons for changing from a soletrade to limited company, some real, some perceived: To avail of lower tax rates Protection of limited…

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Action plan for jobs – what’s in it for start-ups?

A lack of detail for starters! Let’s take the main points. The Action Plan for Jobs (APJ) has 15 action points for 2012 relating to indigenous start-up businesses. None of these has a time scale (other than “2012”). These pronouncements by Government are obviously given an overly positive slant, a little spin, and an inevitable…

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VAT basics – a beginner’s guide

Rule number #1: you can’t add VAT to your invoices unless you are registered for VAT – ever! Rule number #2: you can’t claim VAT on purchases unless you are registered for VAT – ever! Do I need to register? If you are selling taxable goods you must register if your total sales (turnover) for…

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Starting a business: sole-trade vs limited company

One of the most important decisions to be made when starting a business is what legal structure to adopt: sole-trade/partnership or limited company? Both have advantages and disadvantages. Each business’s circumstances must be examined in its own right as what may suit one set of circumstances may not suit the next. Firstly we must explain…

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