Top Tip
Home Business Expenses -
If you have a home based business, you may be missing out on a number of
valuable tax savings. Having a home business allows you to reclaim a
share of the cost of expenses for the home such as electricity and
telephone bills.
The easiest and quickest way to claim back any of the
expenses that you might be due would be through your Self Assessment
Tax claim.
More information about this can be obtained by speaking to us.
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Quote Of The Week
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"Anyone who lives within their means suffers from
a lack of imagination."
Oscar Wilde
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Greetings!
Valentines Day is nearly upon us once again, and there is a freebie for you today, courtesy of one of our newest customers; Sarah Turner from Strategic Therapy. Click Here!
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· If you are taking money out of your business in the most tax-efficient way? Tip: If your business is a Limited company it often makes sense to get money out through a combination of salary, benefits in kind and dividends. Even after the recent budget changes, savings can still be made by a regular review of remuneration planning
· If you are paying your spouse a tax efficient salary? Tip: The salary must be sensible and reflect the work done - and must actually be paid. HMRC forms may need to be completed and submitted especially if a state pension record is required.
· If you made the most of your opportunities to save tax by investing in a personal pension? Tip: Subject to certain limits, pension contributions made personally are tax allowable - which means that the effective cost may be as little as 60p to invest £1 in a pension. If you don't provide for your retirement, who will?
· If you are a Sole Trader, have you considered taking your spouse into partnership? Tip: Care must be taken to ensure that your spouse's share of profits is not disproportionate to their share of involvement, and it must be run as a genuine partnership (ie. both names on bank accounts, stationery etc.)
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The changes to the Cross-border VAT rules announced at Budget represent
a significant reform of the VAT regime applying to services and introduce
important changes to the intra-EU reporting regime for goods. These changes,
adopted by EU Finance Ministers in February 2008 and December 2008 will:
- Modernise and simplify the current rules relating to cross-border
supplies of services
- Make the recovery of VAT on purchases made in other EU countries
more efficient
- Help to counter VAT fraud
To comply with the new rules, businesses will need to make fundamental
changes to their current VAT accounting and reporting processes in order
to be ready for 1 January 2010.
Please click here to learn more, and ensure you aren't caught out by the new rules
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Sarah Turner manages her own busy practice, Strategic Therapy, for individual clients, accredited by the UK General Hypnotherapy Standards Council. She also runs
regular hypnotherapy style workshops aimed at helping people target specific
goals. Recent workshops include 'Overcoming overeating', 'Stop
smoking' and 'Beat Anxiety, Stress and Worrying' which have all received great feedback.
So, What is Hypnosis?
Hypnosis or trance is a naturally occurring process in everyday
thoughts and actions. It can be defined as a focused state of attention during
which wider stimuli are ignored. For example, have you ever been engrossed in
an interesting book or a fascinating film to the point that you almost forget
everything else happening around you? Or perhaps you have been driving from one
place to another but realised you can't actually remember how you got there?
In
hypnosis, you can still think logically but you also have access to the 'software'
of your mind so that you can update instinctive emotional and physical
responses. Throughout your session, you will remain completely aware and in
control of everything that is going on. In fact, many people experience a hyper
awareness where sounds appear richer, thoughts become clearer and your ability
to imagine and visualise is far greater in this state.
Hypnotherapy is effective for treating a wide range of
unhelpful habits, patterns or associations such as
smoking, overeating, stress, anxiety and depression, fears and
phobias, sleep difficulties and relationship issues. Sarah's therapy room is in
Hove where an initial session is £75 which
lasts 1.5 hours and follow up sessions are £60 for 1 hour. Sarah is
currently offering clients who book in February 20% off their first
session, which saves you £15.
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Car Scrappage Scheme
The Government's Car Scrappage Scheme is drawing to an end. Back in September, when it was supposed to finish, the Government announced that they were adding £100m into the scheme, and they also tweaked the rules slightly.
The end is Nigh! The Government announced that the Scrappage Scheme will finish either when the £400m pool dries up, or at the end of February; whichever is sooner.
So, if you were looking for a new car and you qualify, your days are numbered! Also, be sure to have a look how they changed the rules; you can find these at the link below.
Click here to learn more about the Scrappage Scheme |
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Thanks for reading. You can find us on our website, Facebook, Twitter or
LinkedIn; just click the relevant link at the top of the Newsletter.
Ben
& Chris
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