In brief, a business is made up of income and expenditure, assets and liabilities. Income is everything you receive, everything you sell and the money you get from your customers. The expenditure is everything that leaves the business. Expenses, payments etc. For a plumbing and heating business, there are loads of expenses or outgoings which are required to have a business that runs effectively. A lot of people choose to do their bookkeeping in-house, as opposed to using a skilled and experienced bookkeeper. If you choose to complete your bookkeeping yourself, it is very important that you categorise your expenditure correctly, are aware of the variety of VAT rules and have a lot of time that can be devoted to this side of the business. Having accurate bookkeeping will mean you can place reliance on management accounts which will paint a clear picture of your business's historical financial affairs, enabling you to pick out trends to be able to plan for the future. While workin...

What is the aim of the TFCS? To support eligible families with their childcare costs. What is the financial benefit of the TFCS? For every £8 paid into the scheme by you, the Government will add an extra £2 up to a maximum of £2,000 per child per year (£4,000 for a disabled child). Example Mary has two children aged 5 and 7. Mary pays £400 a month into each of the two TFCS account The Government top up each TCFS accounts by £100 per month. An annual saving for Mary of £2,400. What is the eligibility criteria? Your child must be 11 or under and usually live with you. They stop being eligible on 1st September after their 11th birthday. If your child is disabled then they must be 17 or under and usually live with you. Adopted children are eligible but foster kids are not. You must use an approved childcare provider who is set up to take payments through TFCS. You can be either employed or self-employed. You (or your partner, if you have one) must have a National Insurance number and at le...

Together We Count want to help your business thrive, so please let us know what is coming up in the next month, quarter or year. We feel that communication is key, therefore, so we can give you a proactive service please let us know about your up and coming personal and business financial plans. Often, if you tell us about something after the event has taken place it’s too late for us to give you advice. Over the coming months there may be developments in your business or personal affairs where, if you tell us about them in advance, we may be able to help you to: Save time or money Get a better solution Avoid the risks and pitfalls Receive the most favourable tax and accounting treatment Or in some other way get a better result On the other hand, if you tell us about them after the event it may be too late. We would therefore ask you to read this Appendix carefully and advise us immediately if any of the situations listed here become relevant to you. Property and investments Buying or...