A free chapter of the book is available from:
The accountants will always tell you the best structure ‘depends’ on what it is you want to achieve – true. But there are reporting differences. The video below explains what they are. This blogpost will just recap them.
Limited Liability Companies
It’s important to keep on top of your receipts, and to get your accounts done on time, otherwise penalties and fines will be coming your way! The UK government give you plenty of time/notice to file ontime, so there isn’t really any excuse if you are late. If you are a bit disorganised and need a hand with these things, then do contact Boogles: http://www.booglesltd.com/Contact_Us.html
The video explaining the difference between being a limited company and self employed on You Tube is here:
What’s The Difference Between Being a Limited Company & Self Employed?]]>
Get in a bookkeeper, and make part of their routine include some credit control – chasing up outstanding debtors, sending our statements, addressing any issues or queries that are stopping people from making a payment. This will solve some of your problems, because a bookkeeper is a neutral person. Sometimes a client needs to deal with someone else in your organisation, not you. Boogles Ltd don’t even have to come to your office to do the credit control for you. If we have an aged debtors list – we can do some of that chasing from our offices / off site.
You’d be amazed, that with one client, withint he space of about 2 weeks, just with a gentle nudge and reminder letters and emails, £30,000 of cash came in after an afternoon of credit control. IT IS ABSOLUTELY WORTH IT.
HOWEVER, one needs to put a time limit to this. If after 90 days the money has failed to materialise, and no payment plan is in place, then its time to call in the Debt Collector / Recovery agent.
Specialists like this are experienced and trained to get your money out of people. Listen to the recorded interview we did with Clayton Coke of PRMS Ltd talking about ethical debt recovery and how to manage bad debts. You Tube link: http://youtu.be/nWSfjgnLnZo]]>
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Available on Amazon (Kindle) and from the website: How To Start Your Own Bookkeeping Business
If starting your own bookkeeping business is of interest, then this book is for you.
Give it a ‘like’ on facebook: http://www.facebook.com/pages/How-To-Start-Your-Own-Bookkeeping-Business/105002713000985
Watch the VIDEO
On YouTube: http://www.youtube.com/watch?feature=player_detailpage&v=z9EBxi5lTt8]]>
I run my own small business, and I pay my employees on the 12th of each month; therefore this year I will be paying my employees on 12 April 2013. Their pay is for the month of March so I have calculated using month 12 allowances, but with the introduction of real time information I need to know how to make HMRC aware of this when submit my first real time PAYE data. I want to ensure I am doing things right.
Unfortunately what you have described would be operating PAYE incorrectly. If you are paying on the 12 April this is month 1 and not month 12. Therefore when you have run the payroll correctly i.e. for the pay day on 12 April using month 1 your submission to HMRC will show the earnings paid etc. for month 1.
If you want to be consistently profitable in the foreign exchange market, you need to exercise capital preservation. When you have tried to buy and sell in the Forex market in past times and was unsuccessful, then chances are you ought to reduce your deficits and never repeat the process. Be intelligent about the determination on whether to buy and sell or otherwise.
Don’t consider the chicken get out of when you’re on a roll. Foreign exchange forex traders should never change up until the marketplace does. If the industry begins to take a downwards direction, then reduce your loss and get out. Turn this component of your trading prepare. Write it down leaving it inside a conspicuous place as a continuous prompt.
Don’t drop site of the primary reason for forex market graphs. Graphs of marketplace process reveal to you in the event the industry is pondering bearish or bullish. When selling price process is charted, it will help you see developments as they begin to build and make the most of all of them with your pre-organized buying and selling method.
As a way to reach your goals in the Forex market, you have to not make hasty judgements. You are unable to assume to generate a great deal of money at the same time, so you need to show patience. Gradual and constant along with steady dollars managing, is considered the most virtuous position to obtain when investing on the foreign exchange market. So don’t be hasty, hold out it out.
With market boosts your situation should extend, not twice. Acquire fewer currency exchange models to make small and smaller additions as you may shift upwards. Don’t always keep piling money, if you aren’t acquiring a good give back. In case you are within a losing placement, don’t pyramid your loss. Workout a modicum of personal-restraint.
When taking part in forex currency trading, a fantastic idea is always to have two accounts: a true bank account as well as a demo one. The genuine bank account is definitely the one particular that you do your genuine investments. The demo bank account is strictly utilized for testing functions. Use the demonstration accounts to examine substitute trades and alternative ceases. This lets you be a little more experienced in the marketplace without sacrificing your actual dollars.
The greatest oversight you can make in currency trading is just not to make use of cease deficits. Quick-word loss will almost always become long-term deficits. A stop damage prepare stops a small decrease from transforming into a large one, by offering with an appropriate damage threshold that you decided in advance.
Probably, you can expect to expertise malfunction in the foreign exchange market place eventually, be it a little failing or even a large malfunction. Once this failing comes about, pay attention to the failing, and when the failure cannot be fully removed, then you need to reduce the failing. Workout humility and determination
You need to do your very own examination. Don’t just try to trip a person else’s coattails. Specialized info is very subjective,and an individual else’s technique is probably not good for you. Furthermore, the impulses transform frequently and you should be capable of know when you ought to understand a move, to help you adjust your strategy, properly.
You have to understand that Forex is actually a worldwide market rather than just a market that runs in your nation. This implies it’s bigger than the United kingdom Inventory Trade or anything at all Wall Streets could actually aspiration up. When you comprehend the size of Forex trading, you will end up more likely to method it together with the required caution.
Educate yourself on Margin forex trading in the Currency trading system. This really is 1 approach Forex trading users could have achievement with. The fundamental strategy is basically that you are able to buy and sell more money by using a lower downpayment. The influence made by this tactic lets you improve your benefits significantly but be aware, failures can be elevated. When margin buying and selling, know that it is essential to always keep a surplus cash equilibrium inside your account.
Never ever business with small print. Fine print on any kind of graph or chart or system means that the trade was calculated following it happened, not during the process. For the best accurate info, use only these charts that say they were recorded are living, as you can rest assured the figures are precisely where they were during the industry.
Ensure you see the directions that come with your signal application and understand the types of signal you might be getting. Some software offer you extremely details about the unpredictability of the money, or if this has been overbought or oversold. Discover ways to utilize these indications to make knowledgeable judgements.
To minimize the appearance of Foreign exchange losses, avoid getting too attached to a specific trading position, specially if it is will no longer employed in your favour. By dangling to a dropping placement too much time, in the hopes that the current market tendency will reverse in your favour, you could possibly turn out exacerbating the circumstance.
Cease seeking successful strategies since there are not one. Take the time sharpening your talent as an alternative to trying to find the important top secret that can yield millions of dollars. Don’t get textbooks, different publications, or software for the substantial value endorsing to disclose the multi-mil money buying and selling key. Commit your cash in good quality education rather to understand the abilities you need.
Stay along with foreign exchange connected information by checking out a number of media places. Flickr, although not a traditional news outlet, is an superb source as high as day information and facts. Check out news resources in many distinct places. U.S. forex traders especially require to pay attention to European, Asian, and Uk information places.
Find the best Forex broker to work alongside. Pick a brokerage that may provide small pips spread for them to offer you a better earnings. When the pips spread is way too big, it is going to be a hardship on the forex trader to get any profits. Examine the broker’s background well before making an investment any cash using them.
Now that you’ve see the recommendations over, you will notice that making an investment in Foreign exchange is two pieces common sense and two elements strategy. That’s essentially all there may be into it whenever you bust it straight down. Even so, a great deal goes into to earning up these popular-sense tactics, so always make sure to work with what you’ve acquired right here to be successful.forex
There are a number of important preparatory steps employers need to take in good time before the launch in April 2013…
1. Data Quality
PAYE RTI requires complete accuracy of all employee data. So just make sure that you have the right information on employees. You cannot ‘guess’ their DOB e.g. 1.1.77 … no more of that. Check that you have the correct info on people, especially:
All UK payroll software has effectively had to become PAYE RTI compliant.
PAYE RTI compliant software will allow employers to submit RTI returns directly over the Government Gateway via an internet connection.
Make sure the software you use is RTI compliant.
Make sure that you are registered with: www.Gateway.gov.uk – so that you can make your submissions online.
FAQ … The answers to some commonly asked questions…
RTI stands for ‘Real Time Information’
RTI is the biggest shake up to payroll since PAYE was introduced in 1994. It is a new filing regime being introduced by HMRC, this will allow HMRC to track employers’ payments, increase the accuracy of PAYE deductions and provide up-to-date information on employees’ earnings.
RTI requires certain information about all employees and their payments. If you haven’t already started to, you need to collect any missing data for your payroll.
The information we need is:
If you’re unsure whether you have what you need, please contact us ASAP to see how Boogles Ltd can help.
After three months of a regularly paid employee not being paid, HMRC will automatically delete that employee’s details from the database. To prevent this from happening, when an employee receives an SMP1 or SSP1 form, you will need to set them as an irregular employee until they return to work.
This isn’t a problem as long as there hasn’t been an FPS submitted for this person.
(An FPS is a Full Payment Submission. Every payment made for every employee will require an FPS. So it is just what we call the information is sent to HMRC about payments to employees.)
Though possible, this is now far more difficult than it used to be. You cannot simply undo the payslip as you could if the adjustment was to be made next time. Are you sure your employee can’t wait for this payment?
Quite frankly – there’s lots of small businesses out there, getting their payroll wrapped round their neck… they’re paying people casually by cash and not including them on the regular payroll. There’s lots of people who have more than one job, and the government want to keep track of who is earning what. The government also want to make sure that a company is paying the correct amount of tax each month and not just ‘what they feel like’ or ‘what cashflow will allow’.
Plus it means, if they get the info throughout the year as they go along, then there’s no longer any need for year end forms like the p35, and people who are getting benefits e.g. Working Tax Credits, Job Seekers etc., will now we shown up the minute they’re paid, and the AMOUNT they’ve been paid… no need to wait until the end of the financial year or to make an adjustment if someone has been over/under paid in tax credits the following year.
Basically, it helps Big Brother to keep an eye on you!