A recent article on Accountancy Age states that ‘accountants continue to fail in marketing activities’. Research done suggests that less than a third of accountancy firms have dedicated marketing or business development staff. Around a third keep no list of prospective clients, just under half use social media sites to promote their business and record marketing method to conversion stats. ABC Accounting Services buck these trends and are part of the prosperous minority that embrace marketing with real success. As the research highlights there are three huge necessities when making marketing a priority for your business: 1) Make sure you
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IR35 put simply
This is a tedious subject, I know, but HMRC seem to have caused plenty of confusion with their complex guidance once again. So here are the simple facts about IR35. Why? The IR35 legislation’s main purpose is to act as a deterrent to those knowingly avoiding tax and NI contributions. HMRC announced that to abolish IR35 would lead directly to a £550m estimated loss in revenue. Ultimately, HMRC is increasing the financial burden on contractors with a confusing system – who knows why they do what they do? Who does it effect? All contractors who do not meet the Inland
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Putting the Icing on the Business Cake
My karate coach once said to me: ‘sometimes you have to add icing to the cake’ I looked at him gone out but as he explained and as time has gone by I have grown to appreciate icing more and more. So this is how he explained it. Icing is added when the cake is ready. You put all the hard work, effort, blood, sweat and tears (we are speaking metaphorically here in case you were wondering what god awful cake I was making in my spare time) into making the perfect cake. You get the temperature just right so
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Queen’s Speech confirms massive pensions overhaul
The Queen’s speech confirmed that pension reform will ‘give individuals the freedom and choice to access their pension as they see fit, with the biggest change to the way people are able to access their pension in almost a century’ (Chowdhury 2014). The speech discussed the overhaul of the pension system as well as legislation to introduce new CDC rules. Individuals will be able to withdraw money from their defined contributions pot after the age of 55 as and when they wish and only pay their marginal rate of tax. Withdrawals can be structured to reduce tax charges. Annuity’s need
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