Category: Business News

Are you ready for the new off-payroll working rules?

This time last year businesses were preparing for important changes to the rules where workers supply their services via their own personal service companies. The start date was then deferred from 6 April 2020 to 6 April 2021.

The new rules are scheduled to apply to large and medium-sized businesses as defined by the Companies Act. Those businesses will be required to consider whether or not the worker would be regarded as an employee if directly engaged and so deduct tax and national insurance from payments as if they were an employee. This change does not apply where the end user is a small business under the Companies Act rules, where the current IR35 rules will continue to apply.

Thus, small organisations will not yet be required to consider the status of the worker or deduct tax.

Please contact us if you are affected by these changes as we may be able to help you with the determination of your workers’ employment status. If you are a worker supplying your services through your own company, we will also be able to advise you on the implications of these changes.

Do you need more help with the off-payroll working rules? We offer a wide range of services which are unique to your businesses who are just getting going! Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

It can be challenging to get yourself motivated in the first couple of months of the year.

Here are some practical ideas which may help.

Give yourself time

It may sound counter-intuitive but waking up earlier can set you up for a more productive day.

Waking earlier and giving yourself time to have breakfast and to focus on the day ahead can allow you to prioritise key tasks.

Celebrate wins

Every day is a fresh start. Celebrate the little victories in your day. It could be as simple as sending an email today rather than delaying until tomorrow or making some progress on a project. If you make time to celebrate each little victory, you will feel more rewarded and happier with yourself, increasing your work mentality and boosting your motivation.

Set new goals for the year ahead

The start of a new year is an opportunity to take on challenges. Maybe this will be the year that you win your biggest client or launch a new product or service. Once you set your goals, review them regularly and try to focus on progressing at least one of them each day.

Prioritise

Always start with what is most important to you. Make time for your family – even if it’s just sitting down and having a meal together each day. When it comes to work, focus on progressing your key objectives rather than allowing your inbox to dictate your day. Multi-tasking is not an effective approach. Focus on doing one thing at a time and doing it properly.

Take control of your wellbeing.

One hour of exercise is only 4% of your day. View it as an investment in your wellbeing. The return on that investment is more energy, less stress, better sleep and more productive and focused work. As investments go, it’s worth committing 4% of your time to your wellbeing.

Our team are here to get you motivated for the year ahead. Which is why we offer a wide range of services which are unique to your business! Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the hospitality sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help you get motivated or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

Top tips for driving your Business Development (BD) efforts this year.

Business development is often misunderstood. Some might say that it’s all about relationships, another will say it’s all about sales and others will talk about marketing. They are all right, in a way. Business Development is the creation of long-term value for a firm, through effective management of customers, markets and relationships.

Understand your customers

Customers pay the bills and should be front and centre of your BD strategy. Invest time and energy into researching and understanding your customers. Who are they, what products or services would add value for them and how can your firm help them to make a purchase decision? In the current environment, your customer research may help you to identify a new gap in the market. For example, your customers may need to buy online. Can you offer a better online experience than your competitors? Do you have a delivery mechanism that ensures that your products or services can be distributed to your customers easily and efficiently? You may find that your customers have turned to online marketplaces such as Amazon to buy everything. Maybe your firm needs to have a storefront on Amazon, in order to make it easier for your customers to buy from you.

Consider your target markets

Your customers are part of a specific market. For example, if they are businesses based in the UK then, from your perspective, they are part of the UK B2B market. Customers based in the USA might be part of your online and international market. Markets are constantly evolving. Customers who may not have purchased online 18 months ago may now be doing so on a daily or weekly basis due to lockdowns.

Perhaps overseas clients will be more receptive to buying from your business as they can no longer purchase products or services in a face to face environment. This shift to online presents new opportunities for businesses. Perhaps you could begin to have sales meetings with clients over Zoom or Skype video? Before March 2019, this would have been an alien concept, whereas today is has almost become the ‘new normal’.

Focus on building relationships

Relationships are the gravity that keep the planets aligned. The best businesses build, manage and leverage relationships that are based on trust and the ability to add value. Your relationship building efforts should focus on maintaining contact with customers, targets, employees, suppliers, referrers and industry bodies. Due to remote working, many of your contacts will be feeling a bit lonely and will be more open to the offer of a catch up call, virtual meeting, etc. You can leverage this as an opportunity to keep your firm front of mind, so that when a potential opportunity arises, your firm will be first on the list to get a call.

An opportunity to innovate

The current trading environment offers many businesses an opportunity to innovate. Customers have changed their buying habits, are more open to change and so now is a good time to rethink your sales process. If you don’t currently have an online product or service offering or a way of interacting with customers remotely, then now is the time to rethink how you engage with your target market.

Are you interested in business development in 2021. We offer a wide range of services which are unique to your business and here to help your business take new heights this year. Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

Here we will look at the key business trends to watch in 2021. The challenges faced by businesses in 2020 have driven firms across the world to develop, adapt and innovate. Here are some of the key business trends to watch in 2021.

Remote working technology

Working from home is here to stay. Now that staff have adapted to remote working, they will expect to continue to be able to do so, even when the pandemic is over. Many large organisations have already committed to home-working. Tech companies like Twitter, Mircosoft and Facebook have already put policies in place to allow a significant number of their people to work from home permanently.

Evolution in retail

2020 was a tough year for retail businesses around the world. The trend towards online shopping really picked up as customers were locked down at home. Many firms have invested in developing and improving their online customer experience in order to appeal to a broader range of potential consumers.

Flexible payments

Businesses in 2020 had to be more flexible with their payment terms. This has resulted in businesses embracing new ways for customers to pay such as instalments, accepting credit cards, offering finance, etc.

Diversity & Inclusion is here to stay

Businesses are now expected to commit to Diversity and Inclusion (D&I). Some industry sectors may even require firms to report on their diversity statistics.

This year, firms will be focusing on improving female representation on company boards and ensuring that their workforce includes representatives from diverse ethnic and cultural backgrounds. Customers are now making purchase decisions based on D&I criteria.

We offer a wide range of services which are unique to your business and we are here to help you grow. Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

Please see below for the advisory fuel rates for company cars. These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 December 2020. Where there has been a change the previous rate is shown in brackets.

Note that for hybrid cars you must use the petrol or diesel rate.

You can continue to use the previous rates for up to 1 month from the date the new rates apply.

Do you need more guidance on company cars and the advisory fuel rates for company cars. We offer a wide range of services which are unique to your business. Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.