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Christmas Parties – top tips

It’s that time of year again, Christmas. Which means the Works Christmas Do. So we thought it would be useful to give you as employers some top tips for the occasion. Top tips for Christmas parties: – Employment law still applies during any events outside of the workplace. This means that a business is still at risk if any incidents do occur […]

Extracting profits – tax-efficiently

When it comes to extracting profit from your company, it is important to consider both the tax and business implications of the various options available. Taking a salary or bonus rather than a divided could reduce the national insurance bill. While a dividend is paid free of national insurance contributions (NICs), a salary or bonus […]

Saving tax before the 5 April year end

Proper financial planning is always important, but as the end of the tax year approaches, now is the time to ensure that your business and personal finances are as tax-efficient as possible. Contact Liric for some of the planning strategies that are available to you before 6 April 2015.

Lisa Goes to London

We have previously described that one of Lisa’s pleasures in life is running, now she is to go further – in fact a lot further! Lisa has been successful in securing a place to run the 26 miles of the London Marathon on 26 April.  She will be running for NSPCC and looking to raise in excess […]

And Finally

Returning to the request fro sponsorship,  the NSPCC have a set procedure:- The NSPCC believe that no child should be abused. That’s why they’re there and that’s what drives all their work.They help children rebuild their lives, and they find ways to prevent abuse from ruining anymore. By making a donation today, you can help Lisa raise more money […]

Implementing Your Business Plan

Many are familiar or have maybe even worked with teams who set strategic goals for the organisation, but fail to create an operational process to achieve them. A disproportionate amount of time is spent on the strategy compared to the detailed plan of implementing and executing that strategy. All too often, managers attempt to point […]

VAT Rules Changing for Prompt Payment Discounts

In last year’s Finance Act it was announced that the VAT rules for dealing with prompt payment (or early settlement) discounts would be changing from 1 April 2015. HMRC have now issued brief 49/2014 setting out guidance for businesses affected by the change, many of whom may need to amend their invoicing procedures. From 1 […]

Transfer of Personal Allowance

Remember, 2015/16 sees the introduction of a transferable personal allowance for married couples and civil partners.  As the amount that may be transferred is 10% of the basic personal allowance, that will now be £1,060. The recipient must not be liable to tax above the basic rate and is eligible to a tax reduction of […]

Tax Returns

LIRIC successfully filed 340 tax returns on behalf of our clients.  Some were very last minute – you know who you are! We thought you might be interested in some of the previous years unsuccessful excuses used in failed appeals against HMRC penalties for late filing and payment: My pet dog ate my tax return…and all […]

XERO Bookkeeping News

Our recent launch of Xero to some of our clients has proved a great success.  LIRIC are putting together some case studies and will shares these with you in future editions. Cloud technology gives a whole new platform to work from and there are a variety of add-on apps to help you manage to work […]