If you do not have a Will there are rules for deciding who inherits your assets, depending on your personal circumstances. If you’re married or in a civil partnership and there are no children then your husband, wife or civil partner won’t automatically get everything. They will receive: Personal items, such as household articles and
Goals are important to ensure you don’t invest too little or too much, what is the point in over investing in your pension or dying and paying lots of Inheritance Tax? Your personal financial goals can be broken down into short term, medium term and long term. And, you can work the numbers to ensure
Let’s say you buy a new ultra thin television for £2,500 and you use a credit card with annual percentage rate (APR) of 18%. Your minimum monthly payment could be as low as £50; however, to calculate your total costs you will need to know how your minimum payment was calculated. A minimal payment is
We all need a certain amount of money built up to see us through to the end of our lives in the comfort and security we want. Most people in business are in the accumulation period where you build net worth. Later you move into your distribution phase because there is less coming in that
Assets go up in value over the long term, they may go down in the short term but overall an asset will rise in value but cash is always falling in value. Money falls in value because of inflation. It is not that prices are going up as such; it’s more that money is worthless
Guarantees make it easy for people to buy from you and enable you to control the deal. For example, I guarantee your accounts will be done within 45 days and I will never charge you more than the agreed fixed price. The 45 day guarantee is better that 99% of most other accountants because most
Over the years I have looked at many ways to grow my profits and my clients. Time and again I come back to pricing as the number one strategy. I was listening to Reed Holden co-author of “Pricing With Confidence” talk about the importance of being a little arrogant. Not arrogant enough to put anyone
The hedgehog principle is from Jim Collins book Good to Great, he tells a story of the fox trying to catch a hedgehog. The fox has many different strategies and tries all sorts of tricks. The hedgehog has one defence; he rolls up in a ball. Translating this lesson to business Jim’s research showed that
The idea is that roughly 80% of the effects come from 20% of the causes. This is backed up in all areas of life but in your business, the chances are that: 80% of your profit comes from 20% of customers 80% of your complaints come from 20% of your customers 80% of your sales
There is a new form of marketing called “Inbound Marketing”; this is where you get people coming to you. The idea is that you use the Internet to win new business. This includes your Website with Search Engine Optimisation (SEO) and Pay-Per-Click (PPC) advertising as well as Social Media. You can even link your Website
If you do not have a Will there are rules for deciding who inherits your assets, depending on your personal circumstances. If you’re married or in a civil partnership and there are no children then your husband, wife or civil partner won’t automatically get everything. They will receive: Personal items, such as household articles and
Goals are important to ensure you don’t invest too little or too much, what is the point in over investing in your pension or dying and paying lots of Inheritance Tax? Your personal financial goals can be broken down into short term, medium term and long term. And, you can work the numbers to ensure
Tax is payable on profits of a sole trader or partner, regardless if you take the profit out of the business or not. With a Limited Company you can leave the profit inside the company and only pay 20% tax. This can be useful if you have fluctuating profits in your business. If your profits
National Insurance is charged on profits of a sole-trader or partnership. At the moment, the charge is 0% below £7,225, 9% between £7,225 and £42,475 and 2% over £42,475. But, if you trade your business as a Limited Company you can take your profit as dividends which do not attract a National insurance Charge. If
