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Whenever I talk to a creative agency owner, one of the biggest problems on their agenda is getting paid on time and the collection of cash. You know that feeling…… You send out an invoice and you wait and wait for it to be paid. After it’s gone way over it’s overdue time, you ring up your customer to be hit with a raft of excuses. Excuses like, “We couldn’t pay it because we didn’t get

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Directors pay2016-2017

      As we are entering a new tax year, I wanted to share with you the most tax efficient pay rates for directors. As you already know, the dividend tax has been implemented from April 6th this year.  This does complicate things, so please feel free to email us if you need clarification. Even with the introduction of the dividend tax, it is still much more tax efficient to pay directors a low

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The Chancellor delivered his 2016 Budget speech this lunchtime.  He covered off a lot of ground for small business owners, whilst still being vague about some of the timescales and exact impacts. As ever in these speeches, the devil is in the detail.  We won’t know the exact impacts and rule changes for a little while.  As soon as we do, I’ll be sending you an update. I’ve covered off the main relevant points as

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Over the next 18 months, we are all going to be affected by Auto Enrolment, in some shape or form. Most of us will need to register for an Auto Enrolment scheme and show that we’ve complied with the Pensions Regulator in assessing our employees and registering them correctly.  There will be hefty fines for not complying with the legislation to the letter! Even is you run a small company with only the directors as

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One of the most important tax changes for small Limited Company owners was announced in the recent budget – the introduction of the dividend tax and dividend allowance. Using a strategy of low salary (equal to either the NI allowance or personal tax allowance), business owners have then been able to draw out between £28k and £31k (depending on the level of salary used), without incurring any personal tax. That will change from April 2016!

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The dangers of over reliance on one key customer  Does your agency have one or two ‘superstar’ clients that keep the bills paid and your team busy each month? While a large client or account can feel like a windfall that regularly pays off and keeps your company afloat, over reliance on key customers is actually a very dangerous thing. If this client were to leave, or go out of business, or suffer some other

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In my last post, I promised to tell you of 5 ways you can generate referrals for your creative agency. Ok, I got carried away and I’ve written 7!! 1. Use Linked In – Linked In is such a powerful tool for generating referrals. • Your profile should tell the world who your ideal client is • Contribute to discussions in the groups where your prospects hang out, even if the discussion isn’t directly related

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Every time I ask a Creative Agency owner what their greatest source of new business is, the unanimous answer is always “referrals” or “word of mouth”. Generating a constant stream of good word of mouth introductions is a vital part of growing your creative agency.  Let’s look at the maths….. Imagine you had just two customers.  If, in January they each referred 2 prospects to you and 50% turned into customers, then at the end

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Did you know that research suggests that 73% of business buyers say ‘No’ at least five times to any salesperson before eventually saying ‘Yes’? And did you also know that the same researchers discovered that a staggering 92% of salespeople give up and move on to another target before they get to the fifth ‘No’?  In other words, while 92% of impatient salespeople rush from company to company chasing the 27% of sales where the

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From April 2014 there’s a new way to pay Directors from their Limited Companies. But, it’s not as simple as it used to be! The introduction of the £2,000 employment allowance has resulted in there being more than one optimal way of getting paid from your company. Let me explain. Previously, we have always recommended a salary level just below the threshold for paying employees and employers National insurance (£641 a month in 2013/2014). However,

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