Pay Less Tax – Summer 2024 Edition
Stay informed with key tax deadlines, employee perks, VAT tips, and health benefit updates from Sibbalds.
Hari Vasdev
If you are thinking of starting, or have recently started your own business, then getting the right advice can make a significant difference to the success of your new business, and the amount of tax you pay.
Statistically 80% of new businesses fail in the first 5 years, and out of those remaining, 80% fail in the following 5 years – which means that only 4% of businesses make it past their 10th anniversary!
As a leading firm of East Midlands Accountants, we have helped hundreds (possibly thousands) of startup businesses and many of them have gone on to be hugely successful – some reaching turnover of £10m and more. Using our vast experience of working with these businesses, and our expertise in business, finance and taxation, we can help you avoid the mistakes many new businesses make so that you succeed.
SERVICES FOR START UPS & NEW BUSINESSES
Call Hari on 01332 242257 or email hari.vasdev@sibbald.co.uk to arrange a free consultation and speak to him about your plans.
David Bowler
Running a business is a demanding, but rewarding adventure – and the demands increase as the business grows.
As business owners ourselves, we understand the challenges you face, and we have faced and overcome many of them ourselves. That’s why we’re perfectly placed to help and support you, and become your trusted adviser.
Out of all the business owners we work with, only a handful have had any formal business training. Most are skilled people with technical knowledge of the product or service they deliver. By combining this technical knowledge and the ambition and determination of the business owners, with our years of training and experience as Derbyshire accountants and trusted business advisers, we create a winning team – capable of achieving results beyond expectations.
SERVICES FOR ESTABLISHED BUSINESSES
Call David Bowler on 01332 242257 or email david.bowler@sibbald.co.uk to arrange a complimentary no obligation discussion about your goals.
Terry Grant
The two most common reasons new customers give us for choosing us over their existing accountants are returns not being filed on time or taking too long to file, and that they feel they are paying too much tax.
Our specialist East Midlands based tax team can offer support ranging from basic compliance – completing your returns, advising of the amount payable, and checking correspondence from HMRC – through to bespoke tax planning for income tax, capital gains tax and inheritance tax.
Working closely with you to identify future tax issues, allows us to plan in advance, so that there are no surprises and you can take appropriate action to minimise or eliminate those taxes.
SERVICES FOR INDIVIDUALS & TRUSTS
Call and speak to our tax specialist Terry Grant on 01332 242257, or email him on terry.grant@sibbald.co.uk and arrange a free no obligation meeting to discuss your tax affairs.
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LATEST NEWS
Pay Less Tax – Spring 2024 Edition
Learn effective strategies to manage the high-income child benefit charge, incorporate property portfolios, and handle VAT implications post-deregistration. Gain clarity on the tax implications of owning tangible assets, whether they’re under or over 50 years old.
Pay Less Tax – Winter 2024 Edition
Potential tax savings opportunities for CGT, Income Tax and Inheritance Tax may arise from taking certain actions before the end of the tax year on 6th April 2024. Additionally, car allowance payments may qualify for NI relief where business mileage is undertaken, and settlements under IR35 enquiries may be subject to refunds or offsets, following recent court rulings against HMRC.
CLIENT TESTIMONIALS
Don’t just take our word for it …
We’ve been with Sibbalds Accountants for the past 4 years, working closely with Jay and his team. They’ve been a huge help in making our business more efficient.
Having regular meetings with Jay has made a real difference. He breaks down our financial info in a way that makes sense, helping us see our business more clearly. This has allowed us to focus on what really matters and grow our business.
What we appreciate most is Jay’s attention to detail and the way he and his team really care about getting things right. We don’t have to worry about mistakes in our finances, giving us peace of mind to concentrate on our work.
Jay goes beyond just crunching numbers – he gives us practical advice that has improved how we run things. It’s like having a partner who’s as invested in our success as we are.
In a nutshell, working with Sibbalds Accountants has been a game-changer for us. They make things simple, help us understand our business, and genuinely support our growth.
We’re happy to recommend them to any business looking for a down-to-earth, reliable accounting partner.
Thomas Waggett
Unite Flooring LtdFrom the early days of the company formation to the high growth we are now seeing, Hari and the team at Sibbalds have always supported us with a first-class service and been the business lifeline when we really needed it.
Helping to deal with company accounts, R&D claims, grant audits, funding advice, director/shareholder changes and general advice.
I would not hesitate to recommend to local businesses.
Tim Telford
Devtank LtdWe are truly delighted with our strong working ‘partnership’ with Sibbalds Chartered Accountants.
The team has helped us purchase a company larger than our own and continues to help us flourish and grow in our specialised legal sector. Hari and the team at Sibbalds are a safe pair of hands to turn to for our accounting and tax advice.
They have been integral to our recent operations for further expansion; often the voice of reason when faced with pages of calculations, reports and figures. We would genuinely be lost without their help and support.
Richard Roberts
Lovedays SolicitorsGlentworth Security transferred our accounting to Sibbalds in 2013.
During this time Hari and his team have provided excellent support to us through completing regular management accounts and telephone support.
In 2023 Hari was involved in my purchase of Coast Services (UK) Ltd.
Not only did he do an excellent job in assisting with the process which at times was stressful he and his team took on additional work allowing me to concentrate on completing a smooth purchase.
As part of this process Sibbalds have:
- Taken on completion of management accounts for both Glentworth Security Ltd and Coast Services (UK) Ltd.
- Assisted with the implementation of Xero in both companies.
- Provided support for invoicing and payment reconciliation.
- Completion of P11d’s
- Payroll
I cannot recommend Sibbalds highly enough. Not only does Hari and his team provide excellent support to both businesses but he also goes the extra mile to understand our businesses and assist in achieving our goals.”
Russ Webster
Glentworth Security LtdWe started up our business without much prior knowledge or experience of accounting, which was by far the most daunting part about starting the business for us, and we can safely say that Sibbalds have been a undeniable help.
They have supported us with everything from the start, including the initial set up, all the way through to transitioning from a sole trader to a limited company. They have always been there to assist with our “what on earth does this mean” moments, and if we ever needed a question answered quickly Jay was always there to support us, and explain processes and systems in a way that we could understand, which has been immensely beneficial and extremely appreciated.
Thank you Sibbalds!
Woody Arnold
Hippo Guitar Ltd
Thinking of changing your accountant?
Changing accountants can be a really daunting experience, and a decision that most people take a long time to make – even when they aren’t getting the level of service and value they need.
We’ve made the whole process as simple as possible for you, by introducing our ChangeEASY service – it takes less than five minutes of your time and we do the rest!