Month: March 2017

Top 5 Business Trends In 2017

As technology and the marketplace continue to move forward at a rapid pace, many small businesses can be left wondering what’s next. It’s important to see the trends before they happen so you can capitalise on them for your business. Being one step ahead could mean the difference between a profitable year, and a bankruptcy….

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A Guide To What Records You Must Keep – LeeP Accountants Peterborough

There is often confusion around what records you must keep in your Company, how long you should keep them for and what format they must be kept in. LeeP’s guide can help demystify these questions for you:   Limited Company Records: You must keep details of: directors, shareholders and company secretaries the results of any…

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MTD Has Been Delayed By 1 year For Some SMEs

12 Month Delay In the Spring Budget this year, Hammond said, that unincorporated businesses with a turnover below the VAT registration threshold would be allowed to delay the introduction of quarterly reporting by one year – “This will provide them with more time to prepare for digital record keeping and quarterly updates.” Furthermore – following…

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New Tax-Free Childcare Scheme Which The Self-Employed Can Also Use!

New Childcare Scheme which will also be available for the Self-Employed! LeeP Accountant’s summary on the new Childcare scheme which for once seems to give a ‘nod’ to those who are self-employed! A new childcare scheme called tax-free childcare (TFC) will replace the much loved childcare vouchers which was operated by Employers. The new scheme will…

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Your Pension- Part 3

If you are self employed you can build up your pension contributions record to ensure you qualify for the full state pension of £155.65/ week (16/17 tax year) by paying class 2 NI contributions.  Class 2 NI is currently £2.80/ week. 

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Your Pension – Part 2

The state pension is currently £155.65/ week but ONLY if you have completed a full 35 “qualifying” years of contribution through the National Insurance contributions that you pay.  Each year that you are short of this number of Qualifying years your pension will be reduced by £4.45/ week.  LeeP can help you plan a tax…

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Your state Pension – part 1

The pension age this tax year is 65 for men and 63 for women. This will increase to 68 for both sexes. You can calculate what your state pension age will be on the SPA calculator on GOV.UK. 

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Planning for nursing homes & Inheritance tax planning

The average cost for a nursing home is now £41,000 a year. Funding is available from the local authority but only if the assets of the elderly person are less than £23,250. If their assets are between £23,250 and £14,350 they will have to be means tested. Some people choose to give their assets to…

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