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How could personalities impact on your business?

As part of our Business Improvement Programme and Business Mentoring Programme, one area we explore with our clients is the attraction, retention and performance of the best people. Having the right people around you, internally and externally, is so important in...

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Salary sacrifice arrangements

An expected announcement was made in the latest Autumn Statement, pertaining to salary sacrifice arrangements, which the government perceives as having been subject to abuse. From April 2017, new rules will be implemented to address perceived tax advantages of these...

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Good credit control and why it is so important

‘Cash is king’ is one of those phrases in business that everyone perhaps knows, but not everyone applies to their day to day business. If your cash is safely in your bank account, then you have the choices for your business rather than being the lender to...

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Choosing a supplier

This is an important consideration as your supplier could have a big impact on the reputation of your business. Choosing a supplier is much more than who is the cheapest. Your choice should also take into consideration the potential relationship, good and open...

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Attracting & Keeping your Best People

One of the challenges we explore, as part of our Business Improvement Programme, is the attraction and retention of the best people to build an effective team. The definition of team is perhaps captured by Katzenbach and Smith, 1993, Harvard Business School. “A team...

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Thinking ahead

We all lead busy life’s and this can often lead to us not thinking about the future or our plans for later life. Here are a couple of considerations for protecting the wealth that you have established over time and our recommendation is to consider such areas...

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Are you getting paid?

How frustrating is it when you deliver your product or service as requested by your customer, but then they don’t pay on time? Quite rightly, you deserve the respect of others in business to be paid within the terms agreed. Do you….. vet your new customer...

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More about The ATOL Reporting Accountants’ scheme

  I am Beccy Blake from CRM. I joined CRM in July 2011 and I have since gained my ACCA qualification. I am involved in many different services within CRM such as the preparation of statutory accounts, tax returns and management accounts. I also specialise in the...

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IR35 – Is it time to review your contract?

BBC presenters have recently hit the headlines by operating through their own service companies. You can read this news by clicking here. This is just one example that demonstrates that the ‘intermediaries legislation’ (IR35) and your employment status is very much...

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How will you exit your business?

Preparing for the succession of your business and your preferred exit, is always on the agenda with our clients. This is a vision and objective we explore with you as part of both our Business Mentoring Programme and our Business Improvement Programme. This year, to...

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The Benefits of having an Audit

There are numerous benefits to an audit, and various types of engagement types are available based on the size as well as the needs of your business. This means that audits are not restricted to statutory audits, but as has been noted in recent days, more and more...

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The Christmas Reward

Christmas is a time of year when many employers like to celebrate with their team and recognise their hard work. The good news is that an employer can contribute to the celebrations whilst also benefitting from some available tax breaks and therefore avoiding any...

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10 benefits of having systemised processes in your business

“Small businesses don’t work, the people who own them do” Michael Gerber, Author of the E-myth There are many reasons for having systems in your business. One of the overriding reasons for many business owners is that you able to build your business so that it has the...

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Raising finance for your business

Do you need to raise money for the continuation and growth of your business? If so, no longer is traditional bank finance simply the only option. However, many business owners do not consider other options available to them if they are unable to raise money with their...

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Full time or temporary employees debate

What are your obligations? An article by The Recruitment and Employment Confederation (REC) details how permanent employee placements are falling at the sharpest rate in over seven years. The report by Markit/REC on Jobs was published on 5th August 2016 and provides a...

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Growth Strategies for your business

A good Growth Strategy will replace random and opportunistic business development with a reliable and systematic approach to growth. A Growth Strategy at a basic level describes the types of clients you will target, the services you will offer and how you will...

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Natural Resources – Accounting for borrowing costs

About 20% of the worlds energy is currently being sourced from Clean energy. This leaves the remaining 80% coming from combustion of fossil fuels. Unfortunately, this releases Carbon dioxide, and other harmful gases, and pollutants into the atmosphere, and has been...

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7 systemised steps to grow your business

One topic, that forms part of both our Business Improvement Programme and our Business Mentoring Programme, and always generates much conversation plus idea generation is the ‘Seven Systemised Steps to Grow Your Business’. The seven steps we cover are...

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The Common pitfalls in business

During our Business Improvement Programme, one of the areas we explore is the common pitfalls that many business owners face day to day. Research has indicated that there are some common reasons for businesses failing. We feel that it is important that you are aware...

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Strengths, Weaknesses, Opportunities, Threats (Your SWOT)

An area that we explore as part of both our Business Mentoring Programme and our Business Improvement Programme is your ‘SWOT’. We would always recommend the completion of a SWOT analysis and were possible with the support of others to help you see all the key points....

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Sage Accounts – List of default VAT codes

Sage Accounts – List of default VAT codes and examples are: T0     Zero rated – Food, Sewage disposal/water, Books, pamphlets and brochures, Newspapers, Maps, Sales outside of EU etc T1     Standard 20% with effect from 4/1/2011 – all UK Sales T2    ...

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The ATOL Reporting Accountants’ scheme

The Air Travel Organiser’s Licence (ATOL) Scheme is a statutory system covering most travel providers who sell air travel. Its purpose is to protect the public from losing money or being stranded abroad because the travel provider that they have booked to travel...

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What is a team?

This is just one of the questions we cover as part of our Business Improvement Programme. “A team is a small number of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they are mutually...

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Sage Accountant Partner – What does that mean for you?

Many of our clients use Sage accounts and Payroll for their day to day financial records. Therefore a few years ago we became Sage Accountant Partners. This partnership helps us at CRM to support our clients that like to use this software option and get the best from...

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Considerations when opening a hospitality business

There are many elements to consider when starting any business. In this article, we would like to share our experience of working with clients in the hospitality sector. Over recent years, we have established a reputation for helping owners of restaurants and pubs...

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Is your business ready for sale?

A common theme for clients utilising the support of our Business Mentoring Programme is to consider the exit or sale of their business at some point in the future. So as part of the proven 8 step support such as the planning, forecasting, measuring and improvement...

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Does your forecasting include a sensitivity analysis

Over the last few years, as part of our Business Mentoring Programme, we have been providing our clients with a sensitivity analysis around their profit and cash forecasts. In recent months, we have also found that many of the traditional lenders are looking for such...

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Changes to the Taxation of Dividends from April 2016

It was announced in the Summer Budget 2015 that the taxation of dividends would change significantly with effect from 6th April 2016. This is arguably the biggest tax change in recent memory for Small and Medium Enterprises. What is changing in April 2016? Please...

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Reducing the financial burden as a care home owner

With care homes reeling from the previous budgets, it is vital that care homes look at every opportunity to reduce the financial constraints that they now face. With employer obligations to comply with auto-enrolment, the new national minimum wage and restrictions to...

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Construction Industry Scheme (CIS)

One of our specialised areas, and an area of work we enjoy, is supporting businesses within the construction industry. As part of our leading knowledge and expertise, we manage CIS on a regular basis for our clients. What is CIS? The Construction Industry Scheme (CIS)...

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The advantages of benchmarking your business

How do you perform against your competitors? How do the results of your key performance indicators compare against similar businesses? Are you measuring the right numbers? Benchmarking can be very informative and support your key decision making. It can also provide...

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Pension contributions & tax relief for higher earners

For tax years up to and including 2015/16 (i.e. up until 5th April 2016), individuals with taxable income in excess of £150,000 pay income tax at 45% (or 37.5% for dividends), and receive tax relief at their marginal rates on money purchase pension contributions up to...

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Paying your Self Assessment liabilities to HMRC

The 31st January is not only the deadline for your 2014/15 Self Assessment return, but also the deadline for payment of any liabilities. A common question that we are asked is “How do I pay HMRC?”. HMRC recommends that taxpayers pay electronically by:...

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Health and Fitness Trends

Whilst working alongside a number of clients in the health and fitness sector, we at CRM also like to keep up to date with the industry and latest trends. Trends to look out for in 2016: Increase in faith-based fitness programmes, i.e. Religious groups Fitness videos...

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Decide what you want really want to achieve

It is this time of year when many people will be reviewing their business and considering their goals and objectives for 2016. We encourage our clients to consider the motivation to achieve, as much as having the vision to set the goal in the first place. At CRM we...

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As a Sage Software Partner we bring savings to our clients

CRM are Sage Accountant Partners, which means we are committed to supporting our clients using this software with regular training and advanced knowledge of the product features. An additional benefit is that we are able to purchase software purchases and upgrades at...

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Your performance measurement and improvement system

Our Business Mentoring Programme is your performance measurement and improvement system This gives you many of the things you need to run a more successful business, get a better work life balance, have less stress because everything is more under control, earn more...

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How do you build trust with your prospects

Many of our clients would have met Mike Foster, who assists with our business development and seminars. If you have heard Mike speak at one of our seminars, you will know he has a repetitive message when it comes to your marketing. “Your prospects have to get to...

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Benchmarking brings a sense of reality

As part of our Business Mentoring Programme (step 5), we help our clients to evaluate their business performance by a comparison to their industry. This step helped one of clients to see a clearer picture of the impact the economic situation was having on his business...

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Considerations for the Construction Industry

The construction industry is one of varying levels and size, from large, multi-year contracts to sole traders who are subcontracted out to carry out construction work for a contractor. IAS11 Construction contracts A construction contract is a contract specifically...

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Tour Operators’ Margin Scheme (TOMS)

The TOMS is a special scheme of VAT accounting and a simplification measure which is used by those who supply designated travel services as a principal or undisclosed agent, with VAT being accounted for where the supplier is established in the EU rather than in all...

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VAT on Medical Services: The basics

The healthcare industry is coming under increasing pressure to add value, while being forced to reduce costs. In spite of this, it is important that businesses in this sector are protected from complex VAT rules surrounding the industry. The basic rule states that...

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Health and Fitness News from CRM

Health experts warn that Europe’s ever growing obesity crisis will see almost three-quarters of men and two-thirds of women in the UK being overweight by 2030. This crisis has meant that the health and fitness industry has grown rapidly over the past few years as...

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Accounting practices for professional services

Professional services cover a dynamic group of business activities. These would include solicitors, architects, consultants, and surveyors to name but a few. Like many other businesses, this sector will be facing numerous challenges in the current economic climate....

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Completing your SWOT Analysis

So what are the strengths, weaknesses, opportunities and threats for your business idea? Strengths: ·         What advantages do you have or what do you do better than anyone else? ·         What do people in your market see as your strengths? ·         What factors...

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Getting paid

When you keep your side of the bargain with a customer, it is only fair that they should keep theirs by paying you… and paying you on time. Sadly, as everyone in business knows, this doesn’t always happen. How big is the problem? The bad debt calculator below...

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Hospices of Hope

CRM are pleased to be supporting two local girls, Anna & Emily, with their contribution in aid of the International charity Hospices of Hope, who work to improve the quality of life for the terminally ill and their families, in Romania and surrounding countries....

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Leaving your business

Every business owner should have a personal exit plan. We sometimes refer to this as a ‘starting with the end in mind’ strategy. Whatever thoughts you have concerning the sale of your business, creating and putting into practice appropriate strategies is...

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Maximise your online presence with LinkedIn

The LinkedIn platform is free and is an invaluable tool to help people keep in contact, build and connect with your network, find potential business partners, position yourself as an expert and win new business. So here are our 5 steps to getting started with a...

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£2,000 Employment Allowance starts 6th April

From 6th April 2014, eligible employers can reduce their Employer’s National Insurance Contributions (NICs) by up to £2,000 each tax year. You can claim the Employment Allowance if you are a business or charity (including Community Amateur Sports Clubs) that pays...

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CRM celebrates 30 years in practice

30 years ago, 28th June 1983, Chapman Robinson and Moore received its letter and entitlement to practice from the Institute of Chartered Accountants in England and Wales. Managing Director, Tony Hobbs, said; “We are proud of our history as a business in...

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Avoid P11D penalties and pitfalls

Do you make expense payments or provide Benefits in Kind (BIKs) to employees (including you if you are a director of your own limited company)?  If so, the deadline for submission of P11D and associated forms to report these amounts for 2011/12 is 6th July 2012....

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Save tax on your commercial property

What is the opportunity? There is an opportunity to have a FREE review undertaken to identify any parts of your commercial property qualifying for capital allowances.  CRM can arrange this on a no upfront charge and no win/no fee basis – you only pay a small...

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Changes to Intrastat Supplementary Declarations

From 1st April 2012, businesses who file Intrastat Supplementary Declarations must file these electronically. Furthermore, the deadline for submission will be brought forward from the last day of the following month to the 21st of the following month.  Please note...

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Protect your business from HMRC

Regardless of how careful you are with your tax affairs, HM Revenue & Customs (HMRC) can randomly select you for a tax enquiry. You’ll be responsible for proving your innocence or agreeing to the Tax Inspector’s demands. Unfortunately, your defence will often...

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How to compare your results against your competitors

CRM are pleased to announce the launch of a number of new options to our Benchmarking Service, an important and popular element of our Business Mentoring Programme. The reports allow you to compare your key numbers to competitors in your industry, quantify the...

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Important HMRC policy change

As part of its cost saving measures, HM Revenue & Customs (HMRC) will no longer send certain duplicate tax forms to agents The following forms will now only be sent to the taxpayer and if appropriate their employer. The agent copies will be withdrawn between...

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Supplying services to European customers

From 1st January 2010 significant changes in the VAT treatment of supplies of services made to and received from overseas will come into force. The principle behind these changes is to reduce the number of cross-border VAT charges and reclaims being made by businesses...

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Reduce the cost of dealing with the Revenue

In accordance with recommended best practice from the Institute of Chartered Accountants in England and Wales, one of the services which Chapman, Robinson & Moore offer to our clients is a Tax Investigations Fee Protection Service. This is open to all people for...

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Don’t get caught by fraudsters offering tax rebate

HM Revenue & Customs (HMRC) have recently announced that they have become aware of a new attempted phishing fraud occurring, which revolves around an e-mail supposedly from HMRC advising that you are due a refund. If you receive unexpected correspondence from...

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HMRC funding for employee tax refunds

The increase to the 2008–09 personal allowance that takes effect on 7 September 2008 may mean that employers have to provide some employees with a tax refund. If necessary, employers (or agents on their behalf) can claim funding from HMRC to cover the cost of these...

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Can you afford to lose gross payment status for CIS?

Construction Industry Scheme – more stringent compliance measures in place for gross payment status While most businesses in the construction industry are aware that HMRC is now applying more rigorous compliance review procedures to assess whether they still...

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Round sum and scale rate expense allowances

HMRC has issued updated guidance to employers in relation to expenses and scale rate payments for subsistence and incidental overnight expenses. These changes to its Employment Income Manual accompany the publication of tables of benchmark scale rates that employers...

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Self Assessment tax payment options

The 31st January deadline for Self Assessment returns and payments to reach HM Revenue & Customs (HMRC) is rapidly approaching. There are a number of ways you can pay your tax to avoid interest charges. You can pay by post or at your bank if you have a...

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Avoid fines when employing workers

Under new immigration rules taking effect from February 2008, employers who hire illegal workers will face the possibility of a fine of up to £10,000 for each such worker. The amount of the fine will depend on factors such as the thoroughness of the identification...

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How to save money when the taxman calls

Chapman Robinson & Moore (CRM) have launched their new Tax Investigations Fee Protection Service. This is open to all people for whom we prepare tax returns, whether personal, partnership, company or trust. Taking advantage of this opportunity means that in the...

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EMI schemes for small and medium sized businesses

Introduction When the EMI scheme was introduced by the Finance Act 2000, the general reaction was that it was too good to be true. Since then, the availability of the scheme has widened and the popularity has continued and grown. We at CRM have set up a number of...

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Does your business have a will?

This article is brought to you by CRM & AGM Independent FinancialAdvisers Ltd in association with Chapman Robinson & Moore Ltd We know the benefits of personal wills – they get the right money to the right people at the right time. But have you done...

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Can a different VAT scheme help your business?

Cash Accounting Businesses whose vatable turnover is £660K or less (this is rising to £1.35 million from 1 April 2007) are eligible to use cash accounting. Once in the scheme, there is an upper limit of £825K before a business has to leave. The prime benefit is that...

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Top tax myths exposed

Myths about tax are adding to an already confusing tax system, the Institute of Chartered Accountants in England & Wales (ICAEW) has claimed. As taxpayers prepare tax returns to meet the 30 September deadline, the last opportunity for sending tax returns back to...

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All change for tips and troncs

Almost a year after National Insurance rules on the taxation of tips last changed, a further amendment to the rules have been announced by HM Customs and Excise. In an announcement made on 17th February, the Revenue say that further legal advice received indicates...

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