John Hamilton

noreply@blogger.com (Anonymous) — Fri, 02 Oct 2015 09:36:00 +0000

Dividends – The New Regime

In George Osborne’s first budget since the Conservative party were returned to power, he struck at the heart of most small company director’s tax savings which have been enjoyed for the last 15 years since the tax rules on companies were changed by Gordon Brown.

If you are a director of a small limited company and take your remuneration by a combination of a basic salary together with dividends then do you realise that from the tax year 2016/2017 you will have an increase in the personal tax you pay where the level of dividends is above £5,000.

The budget gave an increase in the personal allowance to £11,000 and an increase in the basic rate threshold to £43,000.

Assuming you were to take a total income up to this threshold, split by salary of £8,200 and dividends of £34,800 then do you realise that the personal tax you will pay in 2016/2017 will be £2,235 whereas the same level of income in 2015/2016 would have been tax free!

The clock is ticking and we will soon be at the start of the new tax year – there are ways of reducing this additional liability but actions need to be taken earlier rather than later.

Look at my website at www.hamilton-fca.co.uk and see if your company could benefit from the services I can offer.

John Hamilton

Integrated ICT solution

noreply@blogger.com (Anonymous) — Wed, 10 Dec 2014 12:45:00 +0000

In this day and age most businesses need an efficient ICT system. Speaking to Sharpe Systems, they recommended I went for a hosted solution which bundled everything I needed into one package.

The Consultants recommended;

Replace the telephone system and ISDN line with a hosted telephony solution, which would save money on ISDN lines and rental.
Move my emails, data and backups to Sharpe System's datacentre, giving access to my files from anywhere with an internet connection using either my laptop, tablet or smartphone.

Now the project has been completed myself and my staff are mobile and can work from our clients or from home, on live information and we are up to date with emails and communications. This has enabled us to reduce duplication in works and the possibility of overwriting data. Our clients have commented on how responsive we now are and like the fact we can work with them at their offices with live information.

It’s great to have a single inclusive monthly bill, no hidden extra costs. The support was a revelation, only one company to ring who were actually interested in helping us straight away. Having one support contract saves us time and money. We all know who to call if we have a problem.

I have no worries now about my backups and it’s brilliant to have integrated technology that actually works together.

National Insurance – Employment Allowance

noreply@blogger.com (Anonymous) — Wed, 19 Nov 2014 14:49:00 +0000

Are you sure you are claiming the employment allowance that may be due to you?

The employment allowance which was introduced this year, gives a reduction in employer’s National Insurance contributions of up to £2000 a year.

The allowance can be claimed by any business that pays NICs on employees or directors’ earnings. It cannot be set against employees’ NIC, Class 1A or Class 1B employer NIC.

Employers are allowed to use their own payroll software or use HMRC’s Basic PAYE Tools to claim – there are no regional restrictions.

There are special rules for groups of companies and for employers running more than one PAYE scheme and there are some excluded employers.

More information is available on the GOV.UK website, see EmploymentAllowance.

Growth Voucher Project

noreply@blogger.com (Unknown) — Thu, 27 Feb 2014 09:30:00 +0000

What are Growth Vouchers?

Announced by the Chancellor in the 2013 Budget and championed by the PM’s Enterprise Adviser, Lord Young, the Growth Vouchers programme will deliver subsidies to help businesses access the advice they need to help them grow. The majority of small businesses that participate in this programme will be allocated vouchers to spend on strategic advice from suppliers in the private sector, matched with their own funds, on one of 5 categories of support.

On what kind of support can I spend my Growth Voucher?

Growth Vouchers can be used to obtain strategic advice on any of the following categories:

Managing cashflow, late payments and negotiating finance
Developing skills and taking on staff
Improving Leadership and Management
Marketing, attracting and keeping customers
Making the most of digital technology

What is the value of a Voucher?

The Government will match your spend up to a maximum value of £2,000. This means you can spend as much or as little as you want on the advice but the maximum contribution from the Government will be £2,000. For example:

You spend £1,200 on support: £600 from you and £600 matched from government
You spend £4,000 on support: £2,000 from you and £2,000 from government
You spend £5,500 on support: £3,500 from you and £2,000 from government

On the Enterprise Nation marketplace you will find suppliers who meet the minimum standards required to be suppliers as part of the Growth Vouchers programme and with whom you can spend your vouchers. As the small business owner, you pay the supplier and then claim back up to £2,000 from Government.

I’m a small business. How can I get a Growth Voucher?

From the launch date of the programme, you will be able to apply on a government website. If you meet the criteria, you will then be guided through a diagnostic filter which will help you assess your business needs. The process will be done either on-line or through a face to face meeting with an adviser. After this, you will be notified if you have received a voucher.

With a Voucher in hand, what do I do next?You visit the Enterprise Nation marketplace and find a supplier/advisor with whom you can spend your voucher. Suppliers are members of Founding Trade & Professional Bodies so the quality of advice they offer is assured.

If you would like to apply directly, please visit https://www.gov.uk/apply-growth-vouchers