PROPER INVOICE INFO
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that
Budget highlights – March 2013
– Personal allowance increased to £9,440 for the year 2013/14, and a further increase to £10,000 in 2014/15.
– A £2,000 Employment Allowance for businesses and charities to set against their employer national insurance contributions from April 2014.
– The small profits rate of CT will remain at 20% from April 2013, the main rate of CT will be unified by April 2015, providing a single rate of CT of 20%.
– Annual Investment Allowance limit increased from £25,000 to £250,000 for a two year time period for all qualifying investments in plant and machinery made on or after 1st January 2013.
– CGT annual exemption currently £10,600, wil rise to £10,900 for 2013/14, £11,000 for 2014/15 and £11,100 for 2015/16.
– The VAT registration threshold will rise from £77,000 to £79,000 and the deregistration threshold will increase from £75,000 to £77.000, both from 1 April 2013.
Expert accountancy support
We provide a full spectrum of accountancy, taxation and business support services with an attitude of proactive advice and support. We work with you to help ensure that your affairs are always in good order rather than taking remedial action when a problem arises. However, when issues do arise we have wide experience of special situations with the in-depth knowledge to provide expert help with challenging compliance or financial circumstances.
We offer fee protection insurance to all our clients.
As a well-established general practice, we service a diverse range of businesses. The majority of our clients run family businesses and these vary in size from sole traders to medium sized businesses. Many are based in Ayrshire, but we also have clients based elsewhere in the UK and even a few overseas. Key services at Clement & Co include
- Accountancy and book-keeping services
- Taxation services and advice
- Support for business start-ups
- Business planning and forecasting
- Personal financial planning
- Pensions and investment (under licence)
Keeping on top of Payroll Tax records and VAT can be a serious strain for small businesses. It’s time consuming and detailed work which needs to be done on a regular basis and can distract busy business owners from other key roles. Our role at Clement & Co is to offer Payroll or VAT compliance support to take this burden off the shoulders of many of our SME clients.
At Clement & Co we have many years of experience and acquired expertise in advising clients in the often complex business of either “passing on” the business to other family, selling out a stake or selling the whole business.