News

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Why would HMRC ask about my income?

We have had a long period where HMRC have been quite inactive in terms of opening and conducting tax enquiries but we already know that this is changing. The number of enquiries being opened is on the increase and HMRC … Continue reading

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What are the different methods of shareholder protection?

  Company buyback method Whereby the company repurchases the shares from the deceased shareholders. The company insures each shareholder and benefits from the claim proceeds on death or diagnosis of a serious illness. Once the company has repurchased the shares … Continue reading

Top tweets

July 2014 top tweets

We had a visitor today, Rocco came in to meet the office! pic.twitter.com/nxnlsHHRW7 — Sedulo (@sedulogroup) July 1, 2014 Chap raises over $40,000 on Kickstarter to make a potato salad. Good work Internet, good work… http://t.co/VYOqs6QOlm — Sedulo (@sedulogroup) July … Continue reading

Successes

July 2014 Successes

Our highlights from July are: We agreed a £260,000 overdraft for a property development company. We arranged an £800,000 asset refinance agreement for a company in the printing industry. We agreed a £750,000 sales finance facility for another company in … Continue reading

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Do you qualify for EIS?

In order to qualify for EIS, there are a number of conditions both the company and investor must meet: The qualifying company The company must be an unquoted company and there must be no arrangements in existence for it to … Continue reading

HMRC

If you’ve used a tax avoidance scheme, HMRC are on to you

HMRC have today issued a 66 page guidance note on “Accelerated Payments”, this is the method by which HMRC expect to collect £7.1 Billion of unpaid disputed taxes. These taxes in the main relate to what are widely described in … Continue reading

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How does key person protection work in a partnership?

A partnership is not a legal entity but one or more of the partners can apply for a policy on the life of the key person. The policy can be written into the key person Partnership trust if required. The … Continue reading

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Do you need to include income that is already taxed on your tax return?

A question we hear fairly regularly and the answer is yes. If you are sent a tax return to complete then you must enter details of all income received no matter how trivial or whether it is taxed before you … Continue reading

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What is “Qualifying R&D”?

Qualifying R&D is any project that seeks to advance science or technology in relation to your trade. Specifically, this will include such things as: Experimental or theoretical work designed to increase knowledge Development of new products, processes or services Design … Continue reading

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How to fund a potato salad | Part 2

Those who read our post yesterday will be aware of the journey of a gentleman from Ohio called Zack Brown who is raising money through crowd funding to make a potato salad. At the time of writing yesterday’s post, the … Continue reading

potato-salad

How to fund a potato salad | Part 1

Anyone who knows us knows that there’s nothing we love more than someone with a bit of an entrepreneurial knack and the ability to see the potential in even the most simple of things. It was only last year we … Continue reading

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How much can I borrow under EFG?

Borrowers can access funding between £1k and £1.2m over terms ranging from 3 months right up to 10 years. Many lenders will offer the chance of a capital repayment holiday to further aid cash flow. What are the costs of … Continue reading

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Which employees need to be auto-enrolled into a pension?

You will need to assess your workforce initially on your staging date, and at every pay reference period which is at each monthly or weekly payroll run, and when a worker reaches any pivotal age of 16, 22, and state … Continue reading

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Will a factoring provider fund against all of my debtors?

Generally most debts in your business will be able to be funded against although some exceptions do exist. Unincorporated customers will tend to be backed although individuals (‘Joe public’) are unlikely to be funded against. The concentration of the debtor … Continue reading

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What do I need to put in a business plan?

Business plans allow you to put your ideas onto paper by setting out the targets of your prospective business and, crucially, how you are going to achieve them. Perhaps more importantly though, having a watertight and succinct business plan can … Continue reading

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Can I convert an existing personal life policy to a relevant life policy?

This a common question when it comes to looking into relevant life policies and unfortunately, in short, the answer is no. A new contract must be established by the… Continue reading

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How do I arrange a factoring facility?

The first port of call should always be your accountant who will work with a variety of different providers and who should be impartial when it comes to whom they place business with.

Once an initial meeting has been … Continue reading

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How much will it cost to complete my tax return?

If you do opt to enlist a professional tax adviser, the amount of work taken to complete a tax return can differ and therefore so can the costs.

Some firms do not quote ahead of the work; they will… Continue reading

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Do I need to use the NEST for Auto-Enrolment?

No. As an employer you have various options open to you such as; using the National Employment Savings Trust (NEST), converting your existing scheme to meet the required quality standards, putting in place a new scheme offered by a… Continue reading

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Do I have to complete a tax return?

Perhaps unsurprisingly, we hear this question a lot.

Generally, the most common circumstances requiring Self Assessments are… Continue reading

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Semi-Senior Accountant | Vacancy

Fancy joining our team? We’re currently hiring!

We’re on the lookout for a for a part ACCA qualified Client Account Manager who enjoys working hard and playing hard. You must have experience of Sage Line 50 and other online… Continue reading

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Capital Allowances – are you missing out on Tax Relief?

If you own commercial property, are about to sell commercial property, or are about to buy commercial property, recent changes to legislation on Capital Allowances may mean that you are not obtaining all of the tax relief available to you. Continue reading

Successes

May 2014 Successes

Here are our deals, client wins and accomplishments from May… Continue reading

Top tweets

May 2014 top tweets

Take a look at some of our favourite tweets to come through the @sedulogroup Twitter account over the past month… Continue reading

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Auto enrolment fines and penalties

The employer duties that come with auto enrolment are not optional and The Pensions Regulator (TPR) will be responsible for ensuring that you comply with your employer duties.

There will of course be penalties associated with not complying with… Continue reading

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What are the limitations with a relevant life policy?

The level of cover is subject to normal underwriting limits and so the maximum level of cover is restricted to up twenty times salary and remuneration package (including pension contributions).

However, the limits and definition of remuneration packages vary… Continue reading

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Do I need professional advice on auto enrolment?

There are a number of important business reasons why you should seek professional advice on auto enrolment.

The auto enrolment rules means that eligible employees should be automatically enrolled into your pension scheme without any barriers to entry AND without having to make any decision whatsoever! Continue reading

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How the banks are lending

As the economy continues its gradual progress to full recovery and the financial outlook of the country is steadily improving, we are finally experiencing a little more liquidity in bank finance at all ends of the spectrum. Whilst bankers on the frontline have been preaching the banks’ mantra that they are ‘open for business’ for quite some time now, it has taken until comparatively recently for consumers… Continue reading

HMRC

Are HMRC getting more from you than they should?

There has been a flurry of activity from HMRC recently, all designed unfortunately to raise more money for the treasury. Firstly, HMRC have issued late filing penalty notices for all 2013 tax returns that weren’t submitted within the deadline of … Continue reading

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Do HMRC already have too much power or should we encourage greater effort to collect tax owed?

Some MP’s have raised concerns of proposal’s in the Chancellors budget to allow HMRC to raid personal bank accounts of taxpayers who fail to pay up despite repeated reminders. Head of tax at Sedulo, Darrell Booth, believes this measure will get through despite protestations… Continue reading

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