Author name: James Wheeler

Local accountant in Kent

How a local accountant in Kent can benefit your business

As a trusted local Kent accountant and a proud member of the Kent business community, Jameco Group is dedicated to supporting other local businesses. We offer a complete range of accounting services with the aim of making life easier for small business owners. Along with our accountancy expertise, we have a deep understanding of Kent’s business community […]

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Company director reviewing the best salary option to take

Should I take a salary or dividends?

As a limited company director, you must make a crucial decision about how you remunerate yourself. Should you choose a salary, dividend payments, or both? Each option offers distinct advantages and can significantly impact your personal and company’s financial well-being. Salaries are subject to income tax and National Insurance, affecting take-home pay and pension contributions.

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Business increasing prices due to inflation

Should I increase my prices due to high inflation?

Businesses in all sectors are battling rising inflation and increasing operational costs. Many face the dilemma of whether to increase their prices to ensure the financial health of their business. Adjusting prices in line with inflation is essential to compensate for increased operational costs like goods and labour and safeguard profit margins. However, price adjustments

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Construction firm deciding on what accountant to hire

What should you look for when choosing a specialist construction accountant?

If you run a construction business, are a self-employed construction contractor, or a tradesperson, managing your accounts can be challenging. With the ever-changing regulations in the Construction Industry Scheme (CIS), the VAT domestic reverse charge, and the transition to Making Tax Digital (MTD), it makes a difficult job even harder. But there is help at

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What is VAT domestic reverse charge in the construction industry?

What is VAT domestic reverse charge in the construction industry?

In March 2021, HMRC introduced the domestic reverse charge (DRC) to combat VAT fraud in the construction industry. Under this new rule, the obligation to account for and pay VAT shifts from the supplier to the buyer in construction-related transactions. This significant change aims to ensure better VAT compliance and reduce fraudulent activities in the

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Person with incorrect self-assessment tax return

What happens if HMRC discovers that a self-assessment is incorrect?

The thought of submitting a self-assessment tax return sends shivers down the spine of many a self-employed person! The complexities of tax regulations and the fear of making mistakes can lead to sleepless nights for even the most financially savvy among us. But what happens if you or HMRC do discover a mistake? If HMRC

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Business choosing their pension provider for auto-enrolment

How do I choose a pension provider for auto-enrolment?

As a UK employer, it is your legal duty to auto-enrol employees in a workplace pension scheme. Choosing the right pension provider is crucial to safeguard your employees’ investment, demonstrate your commitment as a responsible employer and complement your business’ overall financial strategy. Before choosing a pension provider for auto-enrolment, consider factors like overall pension

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