A little while ago, I wrote about the advantages of using Personal Investment Companies and I am pleased to say that this has generated a lot of interest. I believe that one of the main reasons is due to the fact that company owners are often reluctant to draw all of the profits out of their company and pay higher rates of tax.
At Plus Accounting we are big fans of online accounting products such as Xero and Sage One. Having your accounts data in the cloud gives you as a business owner, access to the most up to date information about your business which allows you to make informed decisions.
Now that the dust has settled on the General Election frenzy, and we settle down to five years of non-coalition Conservative government, shall we recall what the Tories promised to do on taxation in their election manifesto?
Setting targets for your business is not just a question of simply stating where you would like to be in a year's time. Giving yourself accurate targets to work towards involves knowing how you are performing now and having a good idea of how you will be performing in the future.