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Tax Tips Starting a Business – What Do You Need To Do?

Welcome to the Hill Lillis & Company  Tax Tips.

One of the most challenging things you may do is to set up a new business, our primary advice is “Do what you love, love what you do”. Your business is going to be your        livelihood – you should have a good time doing it, but make sure you get the ground work sorted from the outset; it helps to prevent a whole load of future problems!

Firstly you need to decide how you are going to trade; the main choices are as a sole trader; as a partnership, through a LLP or through an incorporated structure. Each has different tax and accounting consequences and needs to be registered in a different way. Once you have set up the business you will need to notify HM Revenue & Customs:

 

  • A limited company needs to be register for Corporation tax
  • A sole trader or partnership needs to register as self-employed and this will also         include registration for class 2 self-employed national insurance.
  • CIS registration is necessary if you intend to work within the construction industry
  • If you have employees then you will need to set up a payroll system and operate PAYE, advising HMRC as you make payments to your staff.
  • VAT registration is also necessary if your turnover exceeds the relevant thresholds. For certain B2B trades you might wish to consider registering for VAT even if you do not expect to reach these thresholds, particularly if there is a flat rate VAT scheme that can be used to simplify your VAT computations.

 

As well as notifying HMRC there are many other factors you will have to consider for your new business:

 

A Business plan is very useful; it enables you to set out your goals and plan how you will achieve them, particularly how your cash flow will cope.

Your business will probably need a business bank account and you may need to obtain additional start-up funding.

You will probably need to arrange business insurance, this could include public     liability, employee liability, trade insurance, professional indemnity, premises or vehicle insurance.

You will need to ensure you are keeping proper business records.

 

We offer a free 30 minute consultation, so if you would like any additional information regarding the above or any other tax issues concerning you, then please contact us or visit us in our offices in Walmley Village, Sutton Coldfield.

This article appears in Walmley Pages Magazine, delivered free to homes in Sutton Coldfield, postcode B76

 

Snowflakes and Sore Losers

Sometimes February seems the longest darkest month of the year, even though we all know that it is the shortest. It is also the hardest for our native fauna to survive. Please remember the wildings outside your window and put out some feed and water for them. If at all possible feed little and often, keep feeding stations clean and provide fresh water. It`s only chicken feed but it`s always going cheep.

 

It seems that our battle to change the Boundary Commission proposals to merge us with Erdington was won. However, it appears that the spoilt kindergarten inmates that we elect to parliament to represent us had a fit of the sulks and will not even get to debate or discuss the proposals. All because the LibDems feel slighted over Lords reform, which WAS debated but rejected. This used to be called democracy. Can someone explain to me why we bothered. What a waste of emotion, mobilisation and demonstration of community in action, all for nothing. Baulked by a party with just 8-10 percent of the vote. They should all be ashamed.( I needed to say that !)

 

Imagine the cold stygian darkness of a January morning replaced by sparkly clear light. Waking to a quiet and cold morning after it snowed even I rose earlier than norm. The grim grey world became a wonderland to be enjoyed by families and friends who seemed not to mind being cold and wet but were rosy cheeked and happy out playing together. Even the publisher of this modest booklet was out with sledge and kids (yes, I saw you , Richard). Whatever the weather, get outside and enjoy our green or white world. eing cold and wet but were rosy cheeked and happy out playing together. Even the publisher of this modest booklet was out with sledge and kids (yes, I saw you , Richard). Whatever the weather, get outside and enjoy our green or white world.

This article appears in the February edition of  Walmley Pages Magazine, delivered free each month to homes in the B76 postcode in Sutton Coldfield.

Article written by Jeff Gilbert or Jeff’s Useful Shop, Walmley, Sutton Coldfield.

 

Fashion – Winter Coats 2012/2013

The most popular length this year is to the middle of the knee and midi. Faux fur is big; from full fur to a furry collar or hood, cropped or long, leopard printed or plain, fading out colour, shaggy….the choice is yours! Leather is popular, mostly seen as large block inserts or for collars, cuffs or hem. The puffer is back but discards its previous sleeping bag image as it appears with a more structured shape, embellished or with graphic print.

 

Oversized coat anyone? Exaggerated proportions with wide set shoulders are popular; ensure they are not ill fitting – sleeves should fall to just below the wrists. Warning – petite figures can look swamped in this style! But they do allow plenty of space to layer on snugly jumpers beneath if you don’t mind looking a little larger than usual.

 

Once again, the military style is king – choose woollen coats with leather trim, double breasted with shoulder straps or a classic trench coat. Fashionistas are loving this look which can be feminine and flattering. Coats without fasteners are also bang on trend; they won’t offer the best protection against the cold but you will look hot! Fasten with your own belt to warm them up or choose a coat with hidden fasteners.

 

This year’s colour palette is either subdued shades or brights; you can merge with the crowd or stand out. The classic black and white shades are always current – this year a black and white combo is also popular. Vividly contrasting colour blocks feature too, or choose a coat that plays on light and dark shades of the same colour. Imitation snakeskin print and animal print are hot and, for knitted coats, pastels are a great choice if you want to look smart and professional.

 

All ready to face the elements? Let it snow!

Sarah Hughes

This article appeared in Walmley Pages Magazine, delivered free to 8,000 homes in the

B76 postcode area, including Walmley, Sutton Coldfield and Minworth.

DIY for Beginners – Chalk Board Walls

Forget stuff pinned to your fridge –use your wall instead!  Use masking tape to define the area you want to paint.  Make sure it’s stuck properly so the paint doesn’t leak.  Using a roller, fill the area with chalk board paint making sure you get good, even coverage.  Two layers should be plenty.  Use a little paintbrush to get the corners perfect and then scribe to your hearts content.

 

Green is the colour

Looking back is traditional at this time of year, especially as we have a bright shiny new one to make a mess of. Such a lot of rain made it a difficult time down in the Valley. Our wildflower meadows missed the correct time for mowing and we have to hope that it has not too much effect on this new year`s display. Certainly the undergrowth burgeoned massively and it meant machete time around the Boardwalk and at various other points where the greenery impeded a walk or ride. Earlier in the year we had a go at the Himalayan Balsam that infests the brook and would hope to do the same this coming spring. There are those that would have us clear out the stream of its silt and and weeds but I think that the fact that fish and crayfish have returned are an indicator of good water quality. The long bright green weed that has white flowers is water crowfoot , again a natural sign of water quality. Also, we will be adding some extra, long awaited , litter and waste bins shortly as a joint effort between the Council and the Steering Group.( We pay for `em ,they get `em emptied!) The muddy gateway at Allendale Rd has at last received our attention and been meshed. Apart from work of course there has been much to enjoy and appreciate. The lush summer gave way to a spectacular autumn and now winter. Whatever the season there is always good reason to get out there and enjoy, `cos it is the users who make it what it is , ours.

Ours, also, is the Green Belt that surrounds us. It is under pressure from an increasing city population. I fear that the case for releasing some of it (400hectares) is too strong to resist. However, with the right response to the current consultation we should be able to mitigate its effect on our locale. If you have not already done so , please comment on the proposals before the end of January. Try to make objections objective and offer alternatives. Don`t be afraid to be a Nimby , because Nimbys care about where they live and how they live. Be heard and least say you tried. Your kids may yet thank you for it .

Jeff Gilbert

 

NIMBY or Nimby (an acronymfor the phrase “not in my back yard“)

 

This article appeared in the January edition of Walmley Pages Magazine,

a local magazine delivered free to over 8000 homes.

Have a spectacular Sutton Coldfield Christmas

The festive season is upon us; the Mall is all a-twinkle, office Christmas parties are in full swing, and there seem to be carol concerts on every corner. To help you make the most of it all, here’s a roundup of some of the Sutton Coldfield Christmas highlights.

Started your Christmas Shopping?

Or maybe you’ve already finished it? Whichever is the case it is well worth heading for the town centre where the lights are sparkling and Christmas bargains are everywhere. On 14th December there’s the added attraction of the Christmas Farmers’ Market, where you can stock up on some special treats. Don’t forget that Sutton has many other lovely little High Streets, such as Boldmere, where you will find lots of independent shops with some fresh and unusual ideas for Christmas gifts.

Where’s Santa?

The most important question for children is “Will we see Santa?” Well, no fear, Santa’s here. He’ll be in the Mall all through December, right up to Christmas Eve – hope he’s got the reindeers primed for a quick getaway! After Santa, keep the excitement levels high with a trip to the panto; no need to schlepp into Brum, the Sutton Arts Theatre has a wonderful production of Cinderella, right here on our doorstep, from 7th  to 22nd December. There are also some great Christmas films showing this year at the Empire, Sutton’s 1930s listed cinema. Try the new Hobbit film, An Unexpected Journey; or showing right now is Nativity 2 – Danger in the Manger, a funny festive follow up to the original Nativity! movie, back in 2009.

And finally…

You’ve shopped, you’ve eaten, you’ve drunk, you’ve seen Santa and visited the panto. All that remains is…. a nice cold, ice cold Christmas dip in Blackroot Pool at Sutton Park. Any knowledge of this century-old tradition is strongly denied by the park authorities, but as of last year it appeared to be still going strong! However it is really only for the brave or the foolhardy, and a cosy Christmas at home sounds much more appealing.

To all our readers and advertisers, Merry Christmas and a Happy New Year!

 

This article features in Recommended Sutton Coldfield, a local magazine and business directory delivered

 to 40,000 homes and businesses in Sutton Coldfield.

Ready for a Lichfield Christmas?

LichfieldCathedralLichfield is alight with Christmas cheer right now, so make the most of all that is happening; enjoy the festivities throughout December, until you finally put your feet up on Christmas afternoon with a glass of something sparkling!

Some Lichfield Christmas highlights

The Christmas Farmers’ markets are on the first Thursday in December and back again for a twinkly encore on 20th December, just in time to get some last minute goodies.  Don’t miss the Lichfield Christmas Festival, on 16th -17th December, a weekend bursting with activities, music, storytelling, eating and drinking. For something a little different, how about a nostalgic afternoon, with 1940s entertainment and festive food, at the National Arboretum on the 6th December?

It’s all about the children

Keep the excitement levels at fever pitch over the next few weeks with a whole host of local Christmas activities. Kick off with Christmas crafts in Beacon Park on the 1st and 2nd December, and then go up a gear with a visit to the Garrick for this year’s Christmas panto, Alice in Wonderland. Santa will be getting about; visit him nearby at Shugborough, Conkers, or the Chasewater Railway, and don’t forget he’ll be touring the streets with the Round Table too. Yes, he’s very much in evidence in the area, so best behaviour all round!

The real spirit of Christmas

We are blessed with a beautiful cathedral and many active churches in Lichfield so there’s no excuse for missing the true spirit of Christmas this year. The Cathedral in particular has a packed agenda starting with the atmospheric, candlelit Advent Carol Services on 1st and 2nd December at 6pm

Christmas music features heavily of course. You can enjoy carols in the park, carols in the town square, carols in the Cathedral (and the many Lichfield churches), and even carols in the trenches at Whittington Barracks. If you are not singing, then stop and listen and, wherever you are in Lichfield, you will hear the strains of Once in Royal David’s City carrying on the winds….

To all our readers and advertisers, Merry Christmas and Have Fun!

This article appears in Recommended Lichfield, a local magazine and business directory delivered

to 19,000 homes and businesses in Lichfield and the surrounding areas.

Have you written your will yet?

It’s not something most of us like to think about, but writing your will is one of the most important things you can do. If it’s there on your long-term to-do list, bring it to the top and do it now.

Says Gary Allmark from GSA Wills:

Even when things are straightforward, if you die without a will, the process of administering your estate is made unnecessarily difficult. This can be stressful and upsetting for those you leave behind, who are already struggling to cope with your loss”

Second Marriage? Read on…

Everybody should have a will, but for certain people the consequences of not having one could leave those you love out in the cold. You should put your will at the top of your to-do list if:

  • you are unmarried partners, particularly if you have children
  • you have previous marriages, again particularly if you have children
  • you have children under 18 -to be clear about how they should be looked after if you die
  • your estate is worth more than £250k (easier than it sounds if you own your house)

Keep it up to date

Already have a will? When is the last time you updated it? If things have changed since you wrote your will, for instance you have separated or divorced, you will need to update it. Gary from GSA Wills says:

“Many an outdated will has caused problems for those left behind. That’s why we send a note once a year to remind you that if your circumstances have changed, your will should reflect the new reality.”

The Season of Good Will?

Before you get caught up in the Christmas preparations, with a million and one things added to your to-do list, call GSA Wills and get Gary to come over and see you.

 

This article appeared in Recommeded Sutton Coldfield Magazine, a local magazine and business directory delivered to 40,00 homes and businesses in the Sutton Coldfield and surrounding area’s.

A Florist with a Flourish

SHAW LANE FLOWERS

Ten years ago Joy Fielding took a step back from the day to day business of farming that had always been her life to spend more time following her true passion, floristry. Today Joy’s business, Shaw Lane Flowers, is thriving, and Joy couldn’t be happier. Says Joy “I love what I do; it is a very creative occupation which also brings me into contact with lots of lovely people” Joy isn’t a traditional high street florist; she is a floral designer, working from her rustic farmhouse on the edge of Lichfield, and she creates traditional and contemporary designs for weddings, corporate and charity events, and special occasions.

Wedding Flowers

If wedding bells are in the air for you next year, Lichfield has many hard-to-beat wedding locations such as Packington Moor, Swinfen Hall Hotel and Erasmus Darwin House, all of which Joy has worked in; she says, “The challenge, which is also a pleasure, is to create displays that delight the bride and live up to their glorious setting”. A quick look at Joy’s website http://www.shawlaneflowers.co.uk is all you need, to see that it is a challenge that she meets spectacularly well.

Christmas Flowers

Right now Joy is busy creating displays for Christmas parties and festive events. We asked her if she had any tips for those of us who don’t have her talent, but want to impress our guests this Christmas:

“For a simple, effective Christmas table decoration which doesn’t cost the earth, consider using berries, seed heads and foliage – ivy heads are particularly pretty.  It’s surprising what you’ll find in the garden.  Give them a delicate frosting of silver glitter, add a scented candle – the one in the photo is Cherry and burns for 80 hours – and scatter some crystals.”

If it all sounds like a bit too much effort, Joy is currently taking orders for table centres and for her welcoming, heart shaped alternatives to the traditional festive door wreath (pictured).

By Royal Appointment?

Joy’s creative skills have even been called upon by royalty. Joy was delighted to be asked to create a display for the Queen herself, when she visited Lichfield in 2011. So, if you deserve flowers fit for a queen (and who doesn’t?), you know who to call!

This article appeared in Recommended Lichfield Magazine and business directory,

delivered to 19,000 homes in Lichfield and the surrounding area’s

LOW COST CHAIR COVERS in Sutton Coldfield

 

First Impressions Last

If anyone knows how important first impressions are, it’s Gerry Bryan, owner of Low Cost Chair Covers.  Every day Gerry is providing Low Cost Chair Covers that look like a million dollars, for weddings, proms, parties and conferences around the West Midlands.

“That moment, when people walk through the door and see a venue in all its glory, is the moment the tone is set for the whole event” says Gerry.

A brilliantly simple and effective way to create that “wow” moment is by using beautiful chair covers which will bring a theme together and add class to any occasion.

“Our chair covers, loose or lycra, will fit almost every chair; choose white, ivory or black, plus a coloured organza sash, hood or bow to complete the look.”

It’s all in the name – or is it?

There is a clue in the name if you are worried about the cost.  It’s unbelievable but true; Low Cost Chair Covers are just £1 each, including the sash, to transform your wedding, prom, party or event into something that will be talked about for a long time afterwards.

That name is only half of the story, though. Low Cost Chair Covers are also professional venue decorators with over 15 years’ experience, and offer a design service for your whole event, including backdrops, table centrepieces, flowers, balloons and much more.

“We can dress the venue to create whatever theme or atmosphere you want” says Gerry.

“We offer a full venue decoration package for weddings, summer balls, parties and events.  Prom parties have been particularly popular in more recent years.”

Low cost just got lower by 10%!

Low Cost Chair Covers are offering an exclusive 10% discount for readers of Sutton Coldfield Recommended, for the following packages:

  • Prom Package: balloons, table runners and chair covers/sashes (starting from £17.75 per table based on 10 people per table)
  • Wedding package: table runners and chair covers/sashes

(starting from £13.00 per table based on 10 people per table)

This offer applies to confirmed bookings for events from 1st December 2012 to 1st December 2013. You will need to book by 31st March 2013 and a 30% deposit is all that’s needed to secure your booking.

Simply quote code SC310313 when you call, email or complete the enquiry form via the website. See the ad for contact details.

This article appeared in Recommended Sutton Coldfield a local magazine and business directory

delivered free to 40,000 home in Sutton Coldfield and surrounding area’s.