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Xero Accounting

We are passionate about providing out clients with useful, up to date technology that supports their business.

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Certified Xero Advisors

Real Time Accounting in the Cloud.

Tired of not having a real time view on where your business is, having a labour intensive internal accounting function or just looking for better insight into your business and how to maximise its performance? – perhaps you should be looking at Xero accountancy software.

Cloud accountancy software like Xero and its cost effective add ons automate a lot of the day to day internal accounting functions like reconciling the bank, keeping track of receipts and invoices and even credit control. Not only that but you can assign access to us as your accountants and we can keep an eye on things for you too and notify you if we see an opportunity or an issue. Its an excellent tool to collaborate with your accountant and get useful strategic advice throughout the year and also save yourself hours of work every week.

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Online accounting

Revolutionise your business through online collaboration.

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Collaborate online

Work together as a team on financials. Collaborate with your accountant and bookkeeper to get the advice you need, when you need it. Invite an unlimited number of people for free. You control what each person can see.

Mac, PC, mobile

The beauty of Xero online accounting is that you can work on any system – Mac, Windows or Linux. Plus, there’s a mobile version designed for smartphones like iPhone, Android and Blackberry.

Always up-to-date

All your invited users have access to the latest version of your financial data. You never need to worry about installing software. With Xero online accounting your data is never out-of-date.

Private and secure

Your data has never been safer. We operate multiple redundant servers at tier-one data centres; guarded 24/7/365 and we run database backups every 10 minutes.

Free software updates

Software updates are free and automatically available when you login. Every 3-6 weeks we release innovative new features and enhancements based on ideas from our customers.

Why not contact us to arrange a demo or discussion to see how we can save you time?
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Insight

IT system procurement is not just negotiating the lowest licence fee

Negotiating and procuring a new I.T system is not a simple process and can be a very daunting experience.

Negotiation and procurement is a very important stage in selecting and implementing a new I.T system, and it is crucial that sufficient effort and time is assigned to this process.  It is key to realise that this process is not just about negotiating the lowest licence fees and day rate, there are many factors that need to be considered, negotiated and agreed. 

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How Will COVID Affect The Value Of Your Business – The Importance Of EBITDAC

You may well have heard of EBITDA, or Earnings Before Interest, Tax, Depreciation, and Amortisation. It is used widely as an approximation for the amount of cash a business generates annually, and that its owners can deploy as they wish depending on a variety of factors such as the chosen financing structure, growth plans, reward strategy etc. In the context of a transaction, a similar idea in the US is Seller’s Discretionary Earnings or SDE, which is a helpful way of thinking about cash generation.

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Company Car Tax – It’s Electrifying!

I still get asked all of the time about whether a car is better being owned by the company or by the individual. There are lots of factors in play here, but in general terms there is a simple over-riding principle – standard cars (particularly diesel) or almost certainly better owned privately, electric cars are almost certainly better owned by the company, and hybrid cars are more borderline depending on their emissions, value, and electric range. Let’s look at a few options:

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If you are a key player in your industry, you are probably eligible to make a claim for research and development tax relief.

A claim for research and development tax relief may be available for any attempt to make any improvement to the industry standard in any field of science or technology. In this context “technology” is a very broad term.

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Software selection is not just about functionality

Software selection is an important and often daunting choice for any business. When selecting a new software system, historically many businesses have followed the route of listing the detailed functionality requirements into a Request for Proposal (RFP), and distributing this to several suppliers. The responses would be reviewed and marked, and a software demonstration focusing on the functionality would follow. The outcome being a preferred software supplier to then begin financial negotiations with.

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What is Real Time Accounting?

Put simply, it is the ability to process and access your up to date financial information any-time, anywhere, allowing you to make well informed business decisions faster and respond to the ever changing world in which we find ourselves.

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How the Kickstart Scheme works

The Kickstart Scheme provides funding to create new job placements for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment

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Having a conversation about the future…

Perhaps the trickiest conversation to have in a family business is when one generation relinquishes control in favour of the next. However it is also one of the most important discussions to have.

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Changes For Household Finances in April 2021

There are a number of changes that may affect your household finances taking effect in April 2021 including tax rates, increases to household outgoings and changes to COVID related loan repayments agreements. This article covers some of the pending changes.

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Effective Exit Planning

Whether you are considering retirement, looking for the next challenge, or for any number of other reasons, the decision to sell your business is one of the most important you’ll make. Maximising the return on your hard work and securing your legacy takes careful planning, and whatever stage of its lifecycle your business ownership is currently at, a focus on your exit plans will add value.

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Is now the right time to consider a Virtual CIO / IT Director?

The CIO or IT Director is usually the most senior IT member of a business responsible for the management, implementation, and usability of information and computer technologies.  In recent times this role has evolved not only to be responsible for the current state IT systems but also to define and lead the IT strategy of a business. 

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Research & Development tax credits

For accounting periods beginning on or after 1 April 2021, the payable R&D Tax Credit for SMEs will be restricted

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Salary sacrifice / optional remuneration package benefits in kind tax changes from 6 April 2021

The Optional Remuneration Arrangements (OpRA) rules were introduced on 6 April 2017 and changed the tax position for employees receiving most benefits via a salary sacrifice arrangement, or instances where there is an option between the employee receiving either a cash or benefit as part of their package.

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Restart Grant Scheme

In the Chancellor’s recent Budget statement, he announced the pending launch of the Restart Grant Scheme. The is effectively a £5bn grant kitty aimed at retail, hospitality and leisure sector businesses to tackle the fallout of the COVID pandemic and support them until the planned reopening.

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Budget 2021

The Chancellor put forward his Budget today (3rd March) in what was one of the most anticipated statements of its type in recent years.

There were rumours of tax hikes being introduced in the short term but it seems these will be phased in, the first of these being an increase to Corporation Tax in 2023

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Grants to help small and medium-sized businesses new to importing or exporting

The SME Brexit Support Fund will soon open for applications. This fund will give businesses up to £2,000 to support training or professional advice on the following areas:

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CIS Construction Industry VAT Reverse Charge

The CIS VAT domestic reverse charge measure will apply to supplies of construction work from 1 March 2021. The measure was due to commence in October 2019 and has been delayed twice due to Brexit and the Coronavirus.

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Brexit VAT Notes

As of 1st January 2021, the transitional arrangements for the supply of goods and services between the UK and the EU has ceased. Agreement has been reached on a post-transition trade agreement, but this does not prevent the UK from leaving the EU VAT regime. As a consequence, there are a number of ways in which the treatment of VAT on transactions with the EU have changed.

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Is The CGT Clock Ticking?

With the 2021/22 tax year budget having been delayed to March 2021, business owners, investors and landlords have a narrow opportunity to plan in anticipation of potentially material tax hikes.

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Furlough Extends To March & 3rd Self Employed Grant

The Chancellor announced further extensions to the CJRS and a 3rd SEISS today (5 November 2020).

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Chancellor Update Support Schemes

The government’s Job Support Scheme (JSS) will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions, the Chancellor announced today, 9 October.

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Govt Winter Economy Plan

The Chancellor Rishi Sunak today outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK.

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Self-Employment Income Support Scheme (Second Grant Window)

Applications for the second and final Self-Employment Income Support Scheme grant are now open. If you’re eligible and your business has been adversely affected on or after 14 July 2020, you must make your claim for the second grant on or before 19 October 2020.

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Coronavirus Job Retention Scheme October Changes

The Coronavirus Job Retention Scheme also known as the furlough scheme will be changing from 1 October 2020. We have compiled a review of the core elements.

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Ballards LLP Podcast – Claiming Expenses For GP’s & Consultants

Listen to our recent podcast which we hope you find useful and interesting. This episode explores whether you can claim and how to claim for areas including motor expenses, subscriptions, home internet, mobile phones and much more.

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Tax information on staff working from home

A common query we are receiving recently is surrounding staff working from home due to the current situation. We have therefore set out the general position for both the employer and employee.

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