Hitting the VAT threshold where you must charge VAT on sales and reclaim VAT on purchases is a point in time that strikes fear and dread into a lot of business owners (particularly those serving the public)…. But, it should be something to celebrate (at least momentarily). First let me give you a bit of background. Businesses in the UK are required to register for VAT purposes once they reach a TURNOVER of £85,000. Some industries can hit the threshold…
The inspiration for this blog post came whilst building a snowman on our front lawn with my little one. Up here in Denholme it’s known to be “two coats colder” so we get the opportunity at least once a year to hone our Snowman building skills. We tried a couple of methods but ultimately a solid foundation of compact snow was the winner….it’s the same in business. You must start with a solid foundation or risk a collapse at the…
Bob The Builder, can he fix it? Bob the Builder….. Yes he can. Bob is a Sole trader builder based in Bradford. He mainly building houses and extensions, one house at a time for individuals. Sometimes he employs Wendy to do a spot of bricklaying, cash in hand….. “Hold your horses there Bob my friend” says Rachel from Account-ant. You could be sailing right into a fine from HMRC. You see, HMRC wanted to tighten up the controls over taxation…
As the October Half term approaches your thoughts may be turning towards a little getaway with friends and family. Be that jetting off for some Autumn sunshine (Vitamin D is very important!), staycation or just little day trips. Our happy place is Scotland, the Highlands to be exact. So much so that we got married there and the retirement dream is to run a small “The Shining”-esk hotel. We ALMOST took the leap a few years back, but that’s another…
Anyone that knows me, knows I’m not precious in the slightest about my car. It gets me from A to B. I NEVER, ever buy new. Maybe it’s an Accountant thing but I cannot BEAR the idea of the depreciation on a new car the second you drive it off the forecourt. My main requirement in a car is lots of boot space and to feel safe (hence the title, I’m channelling Gary Numan Ft. Fear Factory). One day I…
As the saying goes, there are no rainbows without some rain. It’s so true. In 2011, my family and I had a horrendous year. My mum was diagnosed with Lung Cancer, 2 weeks later my 19 year old brother died from pneumonia. Mum battled hard, but succumbed within 3 months. Our world was turned upside down and I was also sitting my CIMA finals. That left just Dad and myself from our surprisingly small Irish family (if you know, you…
“Hi, I’m Adam, Prince of Eternia and Defender of The Secrets of Castle Greyskull….Fabulous Secret Powers were revealed to me the day I held aloft my magic sword and said “By the Power of Greyskull, I have the POWER!!!!!!!”” Prince Adam and He-man were the same person, BUT also totally separate people. This is kind of what it’s like to be a Sole Trader who is now the Director of a Limited Company. When you were a Sole Trader, you’d…
This one might show my age a bit but what the hey! I remember when I was a kid watching The Clothes Show on a Sunday night (at least I think it was a Sunday), and marvelling at the fashion. My absolute favourite presenter was Caryn Franklin because I loved her hair and the way she talked. I was also very fond of Jeff Banks. I still remember the theme tune – I just YouTube’d it and had a little couch…
Trigger Warning: This Blog is about Maternity Leave and Self Employment. Maternity can be a tough subject for some people and I sincerely do not wish to upset or distress anyone. I’ve been asked about Maternity Cover, Childcare and how to get Leave whilst Self employed a few times recently, so I thought it was about time to pop it in a blog post. So in my usual style…..Meet Katie. Katie and her partner wanted a child for a long…
Denholme – Is it a Village? Is it a Town? Who knows!!! But it’s full of small independent Business owners! I thought now was a good time to pay homage to the village we’ve called home since 2008… Denholme. Denholme means “a flat in the hillside” in old Norse, which is very accurate. Some of the streets can be impassable in the winter but it’s so great being surrounded by the hills and the fields. Denholme is a really…