our blog.

what's new at Accountancy Extra.

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!

Read More

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

Read More

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!! If you haven’t read part 1 yet, you can do so by clicking here 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

Read More

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

Read More

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

Read More

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,

Read More

The Chancellor has just delivered his latest budget. The news was delivered in the context that George Osborne does not believe faster growth alone will balance the books, which means that it looks like austerity will continue until 2018/2019 (when the budget deficit has been reduced to nil) The budget has highlighted some significant changes for savers and some encouragement for business investment. Here are the highlights from a small business perspective: With effect from

Read More

Christmas can be an expensive time, right? Wouldn’t it be great if you could get some financial help to pay for it? Well, your business can!! – and that help comes from the taxman Here are our 3 top tips on getting the taxman to contribute to your Christmas spending. The Christmas party HMRC make a generous allowance of £150 per head for you to hold a Christmas party each year. The allowance is inclusive

Read More

Got a burning question about your VAT?, or your Corporation tax perhaps? Something troubling you about your accounts, your record keeping or your accountancy software? Do you have a troublesome issue with a customer or wonder if there’s an easier way to improve your profits?   Well now you have the opportunity to find out For the next 10 days you can ask those important questions.  Then from Monday 14th October, we’ll answer the most popular

Read More

If you employ staff at, or around, the minimum wage limits, you need to be aware that the minimum wage increases from 1st October 2013.   The new rates are: 21 and over – £6.31 (from £6.19) 18-20 – £5.03 (from £4.98) Under 18 – £3.72 (from£3.68) Apprentice – £2.68 (from £2.65) You can find out more about who is entitled to receive minimum wage by clicking here  

Read More