Few sectors have such an impact in the UK as the construction industry. It not only provides the fabric of our nation – the places where we live and work […]
Most people making gifts of money or assets are unaware of inheritance tax rules that might apply to them. HMRC polled 2,090 people and found that only 25% of those […]
Businesses that flout their workplace pension duties face being subjected to random spot-checks by the Pensions Regulator. Employers that provide details to HMRC are having that data cross-referenced by the […]
The tapered annual pension allowance for high net-worth individuals was in the headlines again recently. Concerns were raised that its impact on doctors within the NHS pension scheme is prompting […]
Accountants, as a breed, are fans of efficiency. We tend to appreciate optimised systems and abhor waste, whether it’s time, effort or resources being frittered away. The concept of efficiency […]
The Government is facing calls to announce a stamp duty holiday for homeowners who seek to downsize. Saga polled 2,000 people over the age of 50 and found that 73% […]
When you supply goods and services, you expect to be paid, and promptly, but Britain has a deeply embedded culture of late payments. Indeed, for some businesses, delaying payment is […]
Working from home offers all kinds of benefits, from the opportunity to create the perfect environment in which you can be most productive, to the improvements to work-life balance that […]
More than a million VAT-registered businesses have now been mandated into the Government’s Making Tax Digital (MTD) programme, which came into force on 1 April 2019. Under the scheme, businesses […]
It has been a challenging and eventful three years for UK businesses with a series of high-profile incidents highlighting how situations can change suddenly and often without warning. From the […]
Changes to probate fees – due to take effect last month – have been delayed as Parliament wrangles to resolve the Brexit stalemate. Bereaved families currently pay a flat fee […]
If you’re in charge of running a charity, you will know how it differs from operating a business and how its motives and goals vary. Non-profit organisations are treated very […]
The Government is considering introducing a new stamp duty surcharge, which is designed to clamp down on overseas wealth being used to buy homes in England. Ministers have expressed concerns […]
Affluent families in England and Wales face paying probate charges of up to £6,000 from this month after ministers confirmed it as a fee rather than a tax. Families have […]
What you need to know for 2019/20. With the Brexit process rumbling on, Making Tax Digital finally coming into force, and Easter around the corner, now is the time to […]
MTD zero-hour is here. The moment has come: if your business has a taxable turnover above the VAT-registration threshold, which is currently £85,000, you’re now obliged to keep records in […]
The Government has launched a new website service to help businesses prepare for the UK’s exit from the EU. ‘Prepare your business for leaving the EU’ is an online […]
If there’s one thing accountants love, it’s identifying obscure tax reliefs to which you may be entitled and using them to reduce your tax bills. Tax reliefs, or tax breaks […]
Most employers in the UK will see minimum contributions towards their workers’ occupational pension schemes rise from 2% to 3% next month. Businesses are legally obliged to automatically enrol all […]
Preparing businesses for leaving the EU As the clock continues to tick down to the 29 March 2019, when the UK is scheduled to officially leave the EU at 11pm, […]
The first batch of VAT-registered businesses have less than a month to go until they enter into the Government’s Making Tax Digital (MTD) regime. All VAT-registered businesses turning over more […]
From April 2019, some estates in England and Wales could be required to pay almost £6,000 for a service that currently costs less than 4% of that amount. This is […]
It’s a fact – humans are bad at assessing risk. We’re terrified of things that rarely happen (plane crashes, power station meltdowns) but relatively blasé about things that are statistically […]
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll. This task […]
National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, […]
Individuals set to benefit from an increase to the higher-rate threshold in 2019 will only see half of the tax reduction expected, as a result of a Budget measure not […]
The annual investment allowance is set to temporarily increase from £200,000 to £1 million, allowing businesses to gain more tax relief on their investments. This will take effect from 1 […]
Most people don’t like to think about their own mortality, but planning for the future is important to ensure your property, money and possessions are distributed the way you intend. […]
These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold. Limiting your ambition in […]
As communities around the UK geared up to take part in Mitzvah Day 2018 – the country’ s biggest multi faith day of social action – here at Sobell Rhodes […]
Britain is a nation of fearless entrepreneurs, but the likes of Richard Branson and James Dyson didn’t go from rags to riches instantly. Branson needed a £300 loan to get […]
People run businesses for a variety of reasons from passion to pride, but making a living is high up the list for most people. How do you go about drawing […]
Introduction Going into Budget 2018, between leaks and political instability, few expected Chancellor Philip Hammond would have surprises left to spring. How wrong we were. Under pressure to support No […]
Personal allowance The personal allowance increases from £11,850 to £12,500 from 6 April 2019. The allowance will also remain at this level for the 2020/21 tax year. Basic-rate band The […]
Corporation tax The main rate of corporation tax remains at 19% for 2019/20. The intention to cut the rate of corporation tax to 17% in 2020/21 was reiterated. Annual investment […]
As traditional loans fall out of favour with increasing numbers of business owners, you may be looking for an alternative route for financing – and your pension could be the […]
If there’s one thing that keeps us awake at night it’s the thought of how many British businesses are failing to claim capital allowances to which they are entitled – […]
On 21st September 2018 we came into the office wearing our Jeans in order to raise money and awareness for Genetic Disorders UK. We are proud to have been able […]
First-time buyers in England, Northern Ireland – and for a short time in Wales – were the biggest winners in the most recent shake-up to affect property taxes in Autumn […]
Whether you’re a buy-to-let landlord, a shareholder, an art dealer or you fall somewhere in between, the chances are you will be familiar with paying capital gains tax (CGT). CGT […]
Millions of married couples and civil partners in the UK are eligible for the marriage allowance, but take-up has remained subdued since the tax break came into force on 6 […]
Although the Making Tax Digital (MTD) regime has suffered several setbacks and delays, MTD for VAT remains on course to take effect from its planned implementation date of 1 April […]
You’ve built your business from the ground up and decided it’s time to start planning your departure, but how can you guarantee that you pass it on to the right […]
Smaller employers may require more support in operating workplace pension schemes through auto-enrolment, statistics from the Department for Work and Pensions show. Both small employers (defined as those with 5 […]
After years of hard work and careful saving, you might be looking forward to spending the wealth you’ve built up on a comfortable, relaxing retirement. On the other hand, you […]
Most employers are currently getting their houses in order when it comes to reporting employee benefits and expenses ahead of the 6 July 2018 deadline. At the end of the […]
Many employees need to travel as part of their job for various reasons, whether it’s acquiring new customers, working with current ones or attending conferences and events. The system of […]
A number of selected small businesses have begun submitting tax returns under HMRC’s Making Tax Digital (MTD) pilot scheme. The Revenue asked for businesses to step forward and trial the […]
Despite year-on-year tax rises, company cars remain a popular benefit. While the tax cost of expensive high-emission cars can be eye-watering, by choosing carefully it’s possible to enjoy the convenience […]
Nobody wants the taxman to take more than his fair share, and planning your finances early on can ensure you adopt the most tax-efficient strategy for the months and years […]
Companies can fail for several reasons and, for the most part, these aren’t the result of wrongdoing by the directors. For this reason, it’s perfectly legal to start a new […]
With a new tax year almost upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company. There’s no denying […]
Most employers choose to recognise the ongoing commitment made by their members of staff by providing various benefits and rewards. Whether that’s in the form of the Christmas party or […]
A total of 745,588 people run the risk of being fined by HMRC after missing the deadline to submit their self-assessment tax return. About one in 15 taxpayers failed to […]
Vulnerable and elderly people are being told they owe large amounts of tax which they can only pay off through digital vouchers and gift cards. HMRC has issued a warning […]
The overwhelming majority of business owners and landlords remain in the dark over making tax digital (MTD), government research shows. Ipsos Mori polled 2,900 small businesses and landlords on behalf […]
Anyone whose business comes under the Revenue’s microscope is usually in for a roller-coaster ride. HMRC has upped its game in recent years when it comes to probing businesses or […]
Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on […]
Audits may be a thing of the past, but certain annual reports still apply. If you’re a business owner, you may be familiar with the process of submitting your accounts […]
What is a forensic accountant’s role in divorce proceedings? A forensic accountant has a number of functions. If they are the single joint expert (SJE) in the context of […]
For self-employed people, company directors and those receiving other sources of income, it’s the time of the year to send your self-assessment tax return. Self-assessment is the process used by […]
As communities around the UK geared up to take part in Mitzvah Day 2017 – the country’s biggest multi faith day of social action – here at Sobell Rhodes we […]
As the owner and director of your own company, you can choose how and when to extract funds from your company. As almost all the funds you take out will […]
Most employers provide a range of benefits in kind to their employees. You may be able to choose which benefits to take up, so you should be aware of the […]
Do you spend a lot of time travelling or have little time to oversee your company’s management accounts? If your answer to these questions is “yes” we would recommend that […]
Trusts are a legal arrangement whereby assets are placed into the care of an individual who manages them for the benefit of someone else. For the person placing the assets […]
Starting a business is rarely glamourous. Many of the globe-straddling behemoths of the business world had low key beginnings. Both Apple and Hewlett-Packard were famously started in their founder’s garages […]
Whether you own one or 50 let properties, you need to be aware of the tax changes that have already started to take effect – and which will accelerate over […]
Most businesses don’t do this (believe it or not) but the information obtained can be really helpful in keeping you out in front. Obtain your competitors’ brochures and promotional materials […]
What your customers say about you is infinitely more persuasive to a prospect than anything you could possibly say about yourself, hence the popularity of websites such as tripadvisor.co.uk and […]
Social media utilises the internet to maximise contact with your current network. It also helps you to grow your group of connections at an exponential rate. LinkedIn allows you to […]
Your business may benefit from convening a focus group. This will require you to gather a group of customers together in order to discuss your business. Here’s how it works: […]
Referrals are the lifeblood of a successful business – there’s no better way of building sales than by increasing referrals. They are not only the number one source of new business; […]
Stephen Covey, who wrote one of the bestselling business books of all time “The 7 Habits of Highly Effective People” said that all success starts in one place:- your mind. He calls […]
Historical precedents within a particular industry force customers to make compromises or concessions. Why, for example: • Do most hotels prohibit you from checking in before 3pm? [Hotel maids generally start […]
Technology is a major driver of business profits. Here is a list of innovations you may want to implement in your business: Document management systems (going paperless) Electronic workflow Multiple monitors Portals […]
Planning is a key element to running a successful business. To get where you want to go, you’ll need a business plan. Most businesses don’t have any kind of plan. […]
The Bank of Mum and Dad (BoMaD) is set to lend £6.5 billion in 2017, up from £5 billion in 2016, to help their grown-up children get on the property […]
If your business does not have a steady stream of money flowing into it, you will be unlikely to be a going concern in 12 months. On the other hand, […]
Making Tax Digital (MTD) is a Government directive which signals the biggest change to accounting and tax procedures in decades for businesses and landlords. It requires: • The submission of […]
As part of your business planning process, conduct a SWOT analysis to help you identify your company’s: Strengths Weaknesses Opportunities Threats Use this to set actions for improvement. […]
Around 63% of homeowners favour downsizing their property to fund their retirement, according to research by Now: Pensions. Of the 2,000 people surveyed, nearly 39% think that unlocking housing wealth […]
We are delighted to have been chosen to appear in this month’s edition of Economia Magazine, in which Andrew Rhodes discusses the Sobell Rhodes many pronged approach. To read the full […]
Many business owners I work with say to me “There’s not enough time in the day for everything I need to do” and “I need to spend more time focusing […]
No business can exist without sales. Regardless of your industry, the one thing you have to do above everything else is sell your products and services. So, if you don’t […]
Getting the right people is one of the most important things you can do to support the long-term success of your business. Yet, so many business owners approach recruiting the […]
Customers care about price. But it is certainly not the only thing they care about- and your entire business and marketing strategy should reflect that fact. In other words, you […]
Just think for a minute about a hundred of the most useful or favourite things you buy on a regular basis, how many would you stop buying if the price […]
Price is unquestionably the most powerful growth driver. You absolutely must get this one right. The wrong price is the single biggest reason why UK businesses struggle or even fail. […]
Before you design your logo or write a clever slogan, you need to identify your USP. This is what gives you an advantage over your competitors as it differentiates you […]
Research shows that for the average UK business, about 1 in 5 customers don’t come back. Why do these customers leave? 4% die or move out of your geographical reach […]
If you want to get the best possible results, you’ve got to create a system, whether it be a script for a hairdresser to encourage their clients to get their […]
Most businesses spend most of their time working out how to find new customers. But the real power behind business growth lies in the customers you already have. The easiest […]
How do you get more customers without having to get any more sales leads? You can do this by converting more of your existing leads into sales. Many retailers have […]
Customer’s perception of value, based on their perception of benefits vs. cost, is influenced by factors such as: How we package, position and explain what we do The track record […]
Many business owners wanting to grow their business start with “I need more customers”. As you will discover it’s not always the most effective way, but is what many businesses […]
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok thanks!Read more