Riverbank House
1, Putney bridge approach
Fulham, London, SW6 3JD
Tell : 020 7731 6131
E-mail : info@kvsaccountants.co.uk
Mar 15
20
Key Points of Budget 2015
Below are the key points to take away from the 2015 budget
- Economic forecast for UK
The economic forecast seems to be promising after years of low growth figures. The growth forecast for 2015 is 2.5% which is up from 2.4% predicted in December, This will be followed by the growth rates of 2.3%, 2.3%, 2.3% and 2.4% in the next four year. Inflation is predicted to fall to 0.2% in 2015.
- Public borrowing and deficit
It is encouraging to note that the deficit has halved since 2010 as a share of national income
Borrowing is also predicted to fall from £97.5bn in 2013/14 to £90.2bn in 2014/15, £75.3bn in 2015/16, £39.4bn in 2016/7, £12.8bn in 2017/18 before reaching a £5.2bn surplus in 2018/19
Debt as a share of GDP is expected to fall from 80.4% in 2014 to 80.2% in 2015-16 before falling in every year, reaching 71.6% in 2019/20
- Pensions
Pensioners will be free to trade in their annuities for cash, with the 55% tax charge taken off and tax applied at the marginal rate
The tax-free personal allowance will rise from £10,600 in 2015/16 up to £10,800 in 2016/17 and £11,000 in 2017/18. The threshold at which people start paying 40% income tax is set to rise from £42,385 in 2014/15 to £43,300 in 2017/18
Annual paper tax returns to be replaced by digital tax accounts by 2020.
To find out more on how this year’s budget will affect you please visit
http://www.bbc.co.uk/news/uk-politics-31928641
To view the fill budget 2015 report visit the HM Treasury
Accountants by .
When launching a new business based on the e-commerce platform, there are several factors that you need to take into account to make your business a successful e-business. It is important that every e-commerce provider must keep these factors in mind when considering how to expand its reach to new audiences and achieve its business goals in the market it serves. Below are some of these factors
- Expanding brand appeal
In today’s globalised world, the opportunities for e-businesses to expand it limitless. However, you need to create an appealing business brand from the inception in order to penetrate the global markets. Majority of the online traffic comes from the association of a brand. This is hard-won value resulting from the trust of your current customers.
- Creating an effective online sales channel
Another huge challenge for online businesses is how to most effectively create an online sales channel that supports customer needs as well as meet their organisational and technical capabilities. Getting the foundations right from the beginning is essential in having a strong revenue stream for the business during the first few years
We, KVS & Co advise many clients based in London engaged with online sales. Apart from advising them on accounting and tax matters, we also consult them on the strategic direction of their business.
Oct 14
17
E-commerce Accountants in London
With more and more businesses going online to sell their goods, it is important that the business owners are fully aware of certain aspects of their business that affects the accounting and tax side of things. Â Â From the start up stage, it is important that the business owners keep a track of all business related payments, revenue and expenses related to their business. Â Â In the point of view of HMRC, any claims for expenses needs to be backed up by an invoice. But, many of the e-commerce based businesses are facing the issue not having the original paperwork as their business mainly engages in online transactions. However, this is not an excuse if HMRC raises any query or launches an investigation for expenses claims.
As experienced accountants, we are serving a portfolio of e-commerce based clients and are in a position to advise start-ups as well as more matured businesses on the best practices of running their business in terms of accounting and tax. This will enable the business owners to make ongoing improvements to their business model. Our aim is to make the client’s business more tax efficient as well as to protect it from unnecessary tax investigations.
Sep 14
24
Different Classes of Ordinary Shares
Majority of the companies have just the ordinary shares. They carry one vote per share, are entitled to participate equally in dividends and, if the company is wound up, the ordinary shareholders will share the proceeds of the company’s assets after paying all the debts
However, there are some instances where companies create different classes of ordinary shares, e.g. ‘A’ ordinary shares, ‘B’ ordinary shares, etc. The main purpose of this is to create some small difference between the different classes of ordinary shares. For example this is done to allow the directors to pay different dividends to the holders of the different share classes, or to distinguish between the shares so that different rules apply for share transfers, etc. If the company has different share classes, their rights cab be explained in detail in prescribed particulars.
What are prescribed particulars?
These set out details relating to shareholder voting rights, rights in respect of dividends and capital distribution, and redemption of shares; they must be self explanatory and reflect relevant information declared in the company’s articles
For more information and advise, contact an experienced accountant for advice. We, KVS accountants have advised several limited company clients on how to go about in re-classifying the shares. We serve the areas of Earls Court, East Sheen, Chiswick, Kensington, Holland Park and Clapham
Apr 13
26
HMRC’s Property Tax Campaign
It has come to note that there’s a backlog of 200,000 tax cases waiting to go to tribunal. This would roughly take 38 years to clear, which is something the media frequently misses while engrossed in ‘tax dodge’ headlines, Bearing in mind the likely delays and costs, it is fair to think by anyone that HMRC has better things to do and more certain cases to tackle.