Business Biscotti Blog

Main Budget tax proposals- How you may benefit:

Date set for increase in the personal allowance to £10,000 - 06/04/14

Unique Accountancy and Taxation Services ( just as all business people are not the same all accountants are not the same ).

Sole traders and partnership we can save you
at least £3000 in tax over and above what your accountant saves you. This is each year.
Over 10 years this is a saving of at least 30,000. Obviously there should be sufficient profits.

Limited company directors/shareholders we can save you personal tax. For the last 22
years none of our clients have paid any personal tax, car tax etc with our unique tax planning which is free for a limited period ( based on HMRC rules ).

We provide value for money unique services to you and are dedicated to saving you money,time and worry.

Please see the many newspaper articles and testimonials onwww.hirsch.co and
by typing Ormskirk accountants on the Google bar. On this web site are listed the 6 unique
benefits/services you get from us.

Full range of accountancy and taxation services. We also set up Limited companies
for you and deal with all the compliance work both for HMRC and Companies House

Except for the first introduction we deal with every thing by email thereby saving our clients time and money. Our clients never need to come and see us only if they want to for any matter.

Distance is no barrier as we use modern technology for communication etc. All paperwork can be posted to us by recorded delivery.That is why we have clients over North-West of UK, in London, the Middle East and even in China.

We provide free tax and business success tips every Monday for all business people who have given us their email addresses.

Please ring us NOW on 01695 578955 for a free telephone consultation.

Free tax and business success tip for you  20/11/12 

Tax tip

Monday’s Free tax and business success tip for you  12/11/12

THE TOP BUSINESS SUCCESS TIP

Monday’s Free tax and business success tip for you  12/11/12

THE TOP BUSINESS SUCCESS TIP

Monday’s Free tax and business success tip for you  05/11/12

Tax tip

Monday’s Free tax and business success tip for you  29/10/12

Tax tip

If your name get on the won't pay list of HMRC you are in for a rough ride. So the moment you find you cannot pay ring 0845 302 1435

Business success Tip:

Yes you have guessed it: if you do not have faith in your goods and services why should anyone else?

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.coTel 01695 578955

Great news about the economy and our beautiful country.

Well done David,George,business people and all those who 

made a contribution.Well done. Hirsch

Monday’s Free tax and business success tip for you  15/10/12

For VAT purposes it's important to know the difference between cars and other vehicles. This is because in most cases, VAT-registered businesses can't reclaim the VAT when they buy a car. But they may be able to reclaim the VAT when they buy a commercial vehicle, motorcycle or motor home.

Business success Tip:

Faith in yourself is the most important key. Why is this so? Yes you have guessed it.
Why should anyone have faith in you if you do not?

We will discuss other keys. Would you mind posting your ideas as well please. It is good to have dialogue on this. You are in business so you know a lot about success.

www.Hirsch.co 01695 578955

Free tax and business success tip for you  09/10/12

One of the ways of taking money out tax free from the company is to invest in a company pension scheme. There are many other benefits as well. There are ways of reducing tax especially for higher tax payers.


Business success Tip:

What is the key to business success?

Faith in yourself is the most important key. Why is this so?

We will discuss other keys. Would you mind posting your ideas as well please. It is good to have dialogue on this. You are in business so you know a lot about success.

Monday’s Free tax and business success tip for you  01/10/12

National Minimum Wage Rates
The National Minimum Wage (NMW) rates from 1 October 2012 are as follows:

• the adult minimum wage rate will increase from £6.08 to £6.19 an hour
• the rate for 18 - 20 year olds will remain at £4.98 an hour
• the rate for 16 -17 year olds will remain at £3.68 an hour and
• the apprentice rate will increase from £2.60 to £2.65 an hour.

HMRC are able to charge penalties to those employers found to be in breach of the NMW rules. Details of the calculation of arrears and potential penalties can be found on the BIS website.

Business success Tip:

What is the key to business success?

Faith in yourself is the most important key. We will discuss other keys. Would you mind posting your ideas as well please. It is good to have dialogue on this. You are in business so you know a lot about success.

Monday’s Free tax and business success tip for you  24/09/12

Donating to charity increases the tax free threshold and saves you tax.

Business success Tip:

Regenerate are providing free training for social media enterprise 27th September, 10:30am to 2:30pm. Please ring 0800 6122029. There are free innovation grants are available as well in the form of vouchers.

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess. Tel 01695 578955

Monday’s Free tax and business success tip for you  17/09/12

Minimise tax rates:there is a way of minimising the tax rates that apply to you.

Now that you have followed the bookkeeping tips outlined below you have become an expert. Correct bookkeeping is important for business success.

6 Bookkeeping Tips:

The first tip is: most people who do bookkeeping on spreadsheets or manually have the headings on the left hand side. It is better to have the headings on the top of the columns with totals at the bottom of each sales or expense heading.
The SECOND tip is : Please write cheque number on all invoices or cash if you pay by cash. If you paid by credit card please write CC. This will make the bookkeeping easier for you.
The Third tip is: Following on from last week's tip it makes it easy to reconcile the bank so make sure it is done for every month.
The Fourth Bookkeeping tip is: Have 2  folders for all your bills one for customers and one for suppliers. When customers have paid you or you have paid your creditors transfer it into the paid folder. Then the remaining are your debtors and creditors at any given time. Hence in total you should have 4 folders.

 Fifth bookkeeping tip is:
     
   Business records you may need to keep:

·      Record all sales and other business receipts preferably as they come in

·      Record all purchases as they arise

Monday’s Free tax and business success tip for you  3/09/12

Huge Self assessment penalties
HMRC state about half a million people still have not submitted their 2010/11 tax returns. HMRC have started to issue additional penalty letters to these individuals.
The penalties being issued will be for a minimum £1,200, comprising:

• the maximum £900 in daily penalties for non-filing
• a further late filing penalty of £300 or 5% of the tax due (whichever is higher).

We may be able to appeal on your behalf.
Please do get in touch if you have any concerns in this area

Business success Tip:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.

The Fourth tip is: Have 2  folders for all your bills one for customers and one for suppliers. When customers have paid you or you have paid your creditors transfer it into the paid folder. Then the remaining are your debtors and creditors at any given time. Hence in total
you should have 4 folders.

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess. Tel 01695 578955

Monday’s Free tax and business success tip for you  20/08/12

To avoid vat of 20%, some business owners are increasingly tempted to split their businesses into different entities, so the part with non-business customers or both parts falls under the compulsory VAT registration threshold when split. This enables them to avoid registering for vat.The Vatman is watchful of this type of tax planning and where he believes they have been artificially separated to avoid VAT, he will direct that the businesses should be re-aggregated and impose penalties.

However there is a way of doing it legally. If you need advice contact us.

Business success Tip:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.

The Third tip is: Following on from last week's tip it makes it easy to reconcile the bank so make sure it is done for every month.

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess. Tel 01695 578955

Monday’s Free tax and business success tip for you  13/08/12

The government has postponed the 3.02 pence per litre (ppl) fuel duty increase due to take place on 1 August 2012  to 1 January 2013.

Business success Tip:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.

The SECOND tip is: Please write cheque number on all invoices or cash if you pay by cash. If you paid by credit card please write CC. This will make the bookkeeping easier for you.

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess. Tel 01695 578955

Monday’s Free tax and business success tip for you  06/08/12

Personal TAX Returns Initiative
Taxpayers who are on Higher rate  and have failed to submit tax returns are being offered the opportunity to come forward and pay up under a time limited HMRC campaign. The Tax Return Initiative is for people liable to pay higher rate tax that have been told to submit a self assessment tax return for 2009/10 or earlier, but have not done so.

Where taxpayers fail to take advantage of the initiative, HMRC will use its powers to pursue outstanding returns and any unpaid tax and NIC together with significant penalties of up to 100% of tax due.

We can help with this and to keep the penalties down as we have the expertise.Hirsch & Co 01695 578955.

Business success Tip:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.
The first tip is: most people who do bookkeeping on spreadsheets or manually have the headings on the left hand side. It is better to have the headings on the top of the columns with totals at the bottom of each sales or expense heading.

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess. Tel 01695 578955

Monday’s Free tax and business success tip for you  06/08/12

Personal TAX Returns Initiative
Taxpayers who are on Higher rate  and have failed to submit tax returns are being offered the opportunity to come forward and pay up under a time limited HMRC campaign. The Tax Return Initiative is for people liable to pay higher rate tax that have been told to submit a self assessment tax return for 2009/10 or earlier, but have not done so.

Where taxpayers fail to take advantage of the initiative, HMRC will use its powers to pursue outstanding returns and any unpaid tax and NIC together with significant penalties of up to 100% of tax due.

We can help with this and to keep the penalties down as we have the expertise.Hirsch & Co 01695 578955.

Business success Tip:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.
The first tip is: most people who do bookkeeping on spreadsheets or manually have the headings on the left hand side. It is better to have the headings on the top of the columns with totals at the bottom of each sales or expense heading.

Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess. Tel 01695 578955

Monday’s Free tax and business success tip for your business  30/07/12


HMRC are investigating certain business areas, where it is  believed tax rules are being ignored.

Each task force will move on to a new geographical area once the first area has been investigated.

Construction Industry

The areas are self-employed builders (including small companies) in the North West of England and North Wales. HMRC are looking for under-declared sales (such as cash jobs) and over-claimed expenses (where there are no supporting invoices).

Plumbers
Plumbers are being targeted. They have charged some of them with a criminal offence.

Landlords

HMRC are targeting landlords with three or more let properties in the North West of England and North Wales.
No Tax Return Submitted

HMRC are currently operating in the South East of England, looking for businesses who have not submitted tax returns for corporation tax, VAT, PAYE or income tax. Once this initiative is successful it will be extended across the Country.

We have special expertise to deal with all type of investigations and in the last 22 years have always won against HMRC. It is important to do things properly in the first place so please ring us on 01695 578955. As all business people are not the same all accountants are not the same. We provide unique accountancy and taxation services. www.hirsch.co lists 6 unique benefits we provide all businesses.

Business success:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.

Monday’s Free tax and business success tip for you  30/07/12


HMRC are investigating certain business areas, where it is  believed tax rules are being ignored.

Each task force will move on to a new geographical area once the first area has been investigated.

Construction Industry

The areas are self-employed builders (including small companies) in the North West of England and North Wales. HMRC are looking for under-declared sales (such as cash jobs) and over-claimed expenses (where there are no supporting invoices).

Plumbers
Plumbers are being targeted. They have charged some of them with a criminal offence.

Landlords

HMRC are targeting landlords with three or more let properties in the North West of England and North Wales.
No Tax Return Submitted

HMRC are currently operating in the South East of England, looking for businesses who have not submitted tax returns for corporation tax, VAT, PAYE or income tax. Once this initiative is successful it will be extended across the Country.

We have special expertise to deal with all type of investigations and in the last 22 years have always won against HMRC. It is important to do things properly in the first place so please ring us on 01695 578955. As all business people are not the same all accountants are not the same. We provide unique accountancy and taxation services. www.hirsch.co lists 6 unique benefits we provide all businesses.

Business success:

Most businesses want to do bookkeeping themselves to save costs. This is understable. However most of the bookkeeping has huge errors in it . This is because most businesses get no advice from accountants who take the view that it is not their problem as they did not do the bookkeeping. This is a wrong attitude in our view. In the next few weeks we will provide free consultation through our free tips on how it should be done properly. It has now become even more important to do it perfectly as HMRC now impose hefty penalties even for small errors.