Category Archives: Accountancy

Exit Strategy – What Is Your Story Going To Be?

Waiting for a sign?

Start With The End in Mind

If you were to roll your life forward by 5, 10 or 20 years, what story would you like to be able to tell about your business and other aspects of your world? How big is your business vision?  More importantly, do you have a plan to execute this?

Whatever your business …

Read More

Business Growth – Likened to Child Rearing?

How many times have you heard someone refer to their business as their “baby”? 

It’s a common analogy and one we can all relate to given the blood, sweat and emotional tears we put into our business, when we decide to take that leap of faith and build our own dreams.

One of our team was using …

Read More

Taking Money Out of Companies

What is a Shareholder Current Account (SHCA)?

It sounds simple. You own the shares in your company; you have the cash in the bank so you can just withdraw the cash and spend it how you wish, right?

Actually, it’s not that simple – because your company is viewed as a separate legal entity (person), any money it generates is …

Read More

9 New (Financial) Year’s Resolutions

The new financial year is a great time to set New Year’s Resolutions for you and your business.

Resolutions aren’t just for making you accountable to join and go to a gym. They can be very useful in the realm of small business, helping you focus on goals and aspirations for the year ahead. Here’s nine goals to …

Read More

Don’t Forget Stock Takes and Write-Offs

annual-stock-take-cartoon-2

Don’t Forget Stock Takes and Write-Offs 

For the majority of taxpayers, 31st March represents the end of the tax year.   There’s things you can do before the end of the financial year to help minimise your next tax bill and tidy up the books ready for a new year.

Stock Take

IRD requires that stock on hand …

Read More

Property Investment Rules Are Changing…

Property Investment

Do You Need a Contingency Plan For Property Investment?

The government is extending the bright line test for property so that residential properties will be taxed on any gains, if they’re sold within five years of purchase (instead of the current two years).  The extension will apply to residential investment properties purchased from the date on which the bill …

Read More

7 Common Accounting Mistakes Business Owners Make

Beware Small Expenses

Thanks to the huge range of accounting applications available for today’s small and medium-sized businesses, it’s easier than ever to keep an accurate record of where your business’s money is going.

While accounting software has made bookkeeping and accounting easier for small businesses, it has also made errors and accounting mistakes much more common.  Some accounting mistakes …

Read More

6 Steps to Debt Reduction – The Why, What and How of Getting out of Debt

The “Why” of getting out of debt

I believe our treasure ships come in over calm seas. So, it is important to reduce uncalming influences. One main uncalming influence is financial stress, which is often created by inappropriately high debt levels.

Reducing your stress around finances improves financial results to a correlated degree.  And for the avoidance of …

Read More

What’s the Biggest Finance-related Problem Keeping Small Business Owners Awake at Night?

The biggest finance-related worry for small business leaders is managing cash flow.  Nearly three-quarters of those surveyed cite this issue – as a key concern.  There are five key issues affecting small business owners the most:

Managing cash flow
Being as tax efficient as possible
Understanding the profitability of the business
Not having an up to date picture of business performance
Raising finance …

Read More

Want To Know If You Are Being Ripped Off By Your Accountant? 5 Easy Questions… (cont.)

Question 1
Does your accountant ask to meet to about your goals and the results needed to live the life you want –  at least once a year, but  preferably more often?

Some accountants are excellent at providing advice and some are scared of doing so.  Sometimes this is because of a lack of perceived knowledge/value, or sometimes this …

Read More

Want To Know If You Are Being Ripped Off By Your Accountant? 5 Easy Questions…

Having a great accountant is critical to every business

Having a great accountant is critical to every business.  Sadly, small business owners are quick to choose an accountant without checking the different ways they can help their business or their knowledge of your industry.

Getting the right accountant means you can focus on running the company and make well-informed decisions based on …

Read More