Category Archives: Uncategorized

Helping YOU keep your business on track

Accountant, Business structure, Cis, Construction Industry Scheme Cis, Self Assessment & Tax Returns, Self employed, Tax services, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Vat returns, , ,

When it comes to keeping your business numbers in order, it’s often an afterthought – until you run out of cash in the bank.  Even if your bank balance is in the black how much thought do you give to reaching specific financial targets each month?

As a small business it’s often difficult to put time aside to focus on this when you’re so busy running and trying to keep all the balls in the air.  However, understanding what the numbers in your business are telling you can be an enormous help to growing a seriously profitable business. Look at it as making money and keeping it, rather than scraping by or always surprised when you get big bills to pay.  Financial challenges don’t go away if you ignore them – they just get bigger and scarier!

With my help to focus on what numbers you need to know, what you need to watch and what you need to take action on, you’ll find it will all get a lot easier.  You’ll know what to do to stay on track to that profitable future you had in mind when you started out in business

If you’d rather do anything than plod through your self-assessment forms or want to make sure your business tax demands don’t leave you open to penalties, you’re in exactly the right place.

Don’t wait until things get really tough!

CEO’S BUSINESS OWNERS AND DEMENTIA

Business owners, CEOS & Decision makers, Entrepreneurs, Professional services, Uncategorized, , , , , , , ,

If one of your family members was diagnosed with late onset Alzheimer’s disease a form of dementia have you thought about how you will run your business and managing the stress of a poorly loved one. As a CEO of a large  corporation  you are already used to making big decisions and having a team support and report to you.

Having a parent diagnosed with any form of memory loss can impact on your daily function and stress you to the hill when a clear head at work is absolutely vital.

So here are 3 tips for you to think about from my own personal experience as a daughter and as a business owner.

  • 1.  As a CEO of your own company your business will only evolve if you learn to delegate and give others responsibility to which they are accountable to you for.

Your role as you are already aware is to manage them or stress manage them (or invest in someone who will) as and when by giving them the tools to do their job well and support you in your endeavour as you climb the ladder to success. The team you choose and the investment you make into them will be the deciding factor when it comes to their loyalty to you should you need to cope with a parent diagnosed with any form of dementia and continue to run your business at the same time.

We remain forever surprised and grateful to those who step up when we are in need of a kind word or support especially when an employee goes above and beyond your expectation of them when you are having a bad day or are called to the hospital at short notice due to a parents failing health. It is a no brainer- go to the hospital. It can feel really overwhelming when you notice who steps up rarely is it the person you expect!

  • 2.  Trying to keep all the balls in the air channels your focus. You will be surprised as what you can achieve and just how much ground you can cover when the pressure is on, so make it count its an opportunity for you to now do your best work.

I learned that I do my best work in a crisis, something I did not know about myself until I was in the chaos of the crisis of trying to manage one parent who needed my help and who I would naturally want to help and the other who played for my attention because the other was receiving all the attention. That’s tough to manage considering the one – non dementia was more difficult to cope with than the one who had been diagnosed with late onset Alzheimer’s.

  • 3.  Keep a journal especially if you have sought the intervention of social services in case you need to refer back to it later on, just like a journal of the last meeting you undertook with your staff.

If, you need more information then please email me

The impact of the living wage on our care homes

Accountant, Business structure, Commercial property, Financial forcast, Planning for Care, Profit and loss accounts, Uncategorized, , , ,

As the living wage comes into force care home owners will be faced with a huge challenge in how they manage the direct impact to which this will have on their business and profit and loss accounts.

Wages are one of the largest expenses for a Care home and with councils being forced to manage with less money from the government there will be a knock on effect over the next period of time.

I envisage 3 things changing:

  1. Care homes will be forced to look at ways to down size and maybe that will not be a bad option to consider to more boutique homes for the aging population. Its the advice I would be giving my client and sooner rather than later to get ahead of the curve.
  2. People will consider living together entering old age in one property  with a live in carer. All individuals responsible for jobs around the house which would help those avoid isolation and with a carer on side for as and when needed.
  3. and….more and more of the baby boomer generation will start to consider  having mum or dad live with them. There will be a cost to this both emotionally and financially.

If you choose to all live together and sell your main homes there is no Capital Gains Tax on the sale of your own home.

If you have mum or dad live with you there will be some considerations for you all to make especially making sure your home is safe especially if in later life they are diagnosed with dementia!

Think about that and the consequences involved

 

TAX PENALTIES LOOMING- ACT NOW

Professional services, Tax Penalties, Uncategorized, , , , , ,

 

TAX PENALTIES ARE LOOMING- ACT NOW!!!

Tax image penaltyTax penalties are looming if you do not file your personal self assessment tax return for the year ended 05th April 2014, on line and on time, that being the 31st January 2015. Payment of any tax due for the year ended 05th April 2014 is also due and payable on the same date, less any payments you have already made towards this year last January and July 2014.

You can pay your tax bill on the H M Revenue and Customs website through Bill Pay on H M Revenue & Customs home page or at the Post Office.

 

 

 

GET YOUR TAX SORTED

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Getting your tax sorted!

GET YOUR TAX SORTED

Whether you want some help with the basics of Self-Assessment or you have a business that needs to comply with the current legislation you’ll get just what you need.

You can be sure that you’ll get a bespoke service that will ensure your financial affairs are in order and let you sleep easy at night so that you are free to get on with what you do best – running your business and focusing on growth.

Contact can be made by by email: info@virtualtaxuk.com Alternatively

pick up the the phone for a quick chat : 07801 287 213

 

TAX – Make sure you only pay what you HAVE to!!!

Book kepping, Capital Allowances for Commercial Property, Corporation Tax, H M R C Investigations, Income & Investments, Investors & City traders, Landlords & Rental Income, Partnerships, Professional services, Rental accounts, Self Assessment & Tax Returns, Self employed, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Vat returns, , , , , ,

 

Make sure you only pay what you HAVE to

Even though the Self-Assessment form is supposed to make it easy for you to complete your personal return yourself all those boxes can be daunting. When it comes to business tax returns, whether that’s corporation tax, VAT or the ins and outs of the Construction Industry Scheme (CIS) all this paperwork can be a major headache and take over your life.

Tax services                                                         Tax photo Jan 2012

  • Prepare income and expenses for sole traders, partnerships in order to complete your personal self assessment tax return and file on line.
  • Landlords – Property income and expenses.
  • Prepare and file your VAT returns and advise on the best VAT scheme for your business.
  • Prepare the paperwork for corporation tax, if youre a limited company, and ensure you are getting the best tax option for your situation and file through IXBRL.
  • Company formation.
  • complete your self-assessment forms if youre an investor or city trader and ensure you don’t pay tax on anything you don’t need to – and that you claim all the allowances you should.

Let’s be honest, you’d far rather be doing what you do best, rather than poring over sheets of numbers, let alone working into the wee small hours trying to make sense of it all hoping for the best which can cost you in the long run.

If you need help with your paperwork or have managed to get yourself in a pickle, feel free to contact us on: Mb: 07801 287 213or Email: info@virtualtaxuk.comor visit our Website: www virtualtaxuk.com

 

 

 

Residential Care Homes- Staying clued up!!

Author tax return service, Care Benefits, Paying for Care, Planning for Care, Publishing, Residential & Nursing Care, Uncategorized, , , ,

Residential Care Homes-  Staying clued up!!

cover3When you spend time with your loved ones, it is often the time when you suddenly realise that they’re changing. It’s not just a bit of forgetfulness; whole episodes in your shared experiences have vanished.

It can be tempting to ignore it and hope it will just go away or write it off as ‘old age. It can be hard to imagine what life will be like as your loved one gradually forgets everything about you and your shared life.

Despite all your efforts, if a care home is on the cards, take a leaf out of this book and gain some insight into what you need to understand and what questions you need to ask in order to make sure you stay on top of the situation before it’s too late and you are riddled with guilt.

Transparency is key and any good reputable care home will embrace these questions.

From the Author- Jane Cooper

Choosing a CARE HOME is not a decision that should be taken lightly. Some of these questions would not even have crossed your mind because in this whole journey, we lose our energy, confidence and ability to cope and can be only too grateful and believe that someone else knows what is best for us and our loved one.

In that exhausting process we can find ourselves at our wits end as we forget  to manage those individuals effectively and fail to ask those very important questions we need answers to as our brain floods with despair.

The insights and questions in this book will, prepare you for what you may come up against and or situations that have the potential to be presented to you.
From my own personal experience I wish I knew what to ask for example:

  1. Are these the same carer staff that work here in the day time the same care staff that work here at night or are they agency staff?
  2. Do the G P’s that visit this home prescribe anti-psychotic medication and do you understand what effect they have on your loved one?
  3. Where is the day care book kept and do you have access to it at all times?

I did not know that the care home employed agency night staff and nor did anyone at the care home seem to believe that it was appropriate to tell me either.”

Care is very expensive. We all hear on the news today the bad press that some care homes receive. Make sure you obtain the answers to your questions in order that you understand how the care home operates. There is no price tag on having “piece of mind”
It is not enough to just find a care home, abdicate without questioning nor understanding what takes place there, with whom and when.

Available on Amazon, download on Kindle ; Type Reg Alzheimer’s direct to the link

or buy in print at http://www.justcallmereg.com

 

 

 

 

Make sure you only pay what you HAVE to

Accountant, Book kepping, Corporation Tax, H M Revenue & Customs, Self Assessment & Tax Returns, Self employed, Tax filing dead lines, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Vat returns, , , , ,

Even though the Self-Assessment form is supposed to make it easy for you to complete your personal self assessment tax return yourself all those boxes to complete can be daunting.

When it comes to your own personal tax return or those for your business such as corporation tax, VAT or the ins and outs of the Construction Industry Scheme (CIS) all this paperwork can be a major headache and take over your life.

If it’s all getting a bit too much for you, but you’re not ready for a fully-fledged accountancy service, you’ll find Virtual Tax UK offers a personalized service that will take the pressure off.

Returns are about making the correct declaration to H M Revenue & Customs as it can turn out to be quite a costly exercise if you get it wrong.

Feel free to contact us for a chat about how we can help alleviate any problems allowing you to get on with the daily running of your business or email us on

info@virtualtaxuk.com

Accounts services

Uncategorized

Helping to keep your business on track.

When it comes to keeping your business numbers in order, it’s often an afterthought – until you run out of cash in the bank.  Even if your bank balance is in the black how much thought do you give to reaching specific financial targets each month?

As a small business it’s often difficult to put time aside to focus on this when you’re so busy running to keep all the balls in the air.  However, understanding what the numbers in your business are telling you can be an enormous help to growing a seriously profitable company.

Look at it as making money and keeping it, rather than scraping by or always surprised when you get big bills to pay.  Financial challenges don’t go away if you ignore them – they just get bigger and scarier!

With our help to focus on what numbers you need to know, what you need to watch and what you need to take action on, you’ll find it will all get a lot easier.  You’ll know what to do to stay on track to that profitable future you had in mind when you started out in business.

Landlords and renting your property

Uncategorized

Landlords, when renting out your property it remains in your best interest to make sure that when you undertake a tenant that you have completed your short hold tenancy agreement in full and obtained a satisfactory garanture which can proof they can cover the rent should the tenant default on their payment of rent for any reason.

Ensure all documentation has been signed.

Keep copies to back up what you have done for piece of mind.

If in any doubt at all check with someone who can advise you accordingly.

You are required to keep your income and expenditure up todate the ins and outs and will be required to register for self assessment tax program.

Feel free to contact us on 07801 287 213 to see how we can help
or email: info@virtualtaxuk.com