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Welcome to the accountancy blog from Jacobs Allen, leading chartered accountants in Suffolk. This blog provides the very latest news, views and advice from our senior team. Feel free to comment on any blogs, subscribe via RSS feeds or connect with us socially. Jacobs Allen are proactive accountants that offer fantastic accounting services to both companies and individuals. If you are looking for more than just a traditional service then why not contact Jacobs Allen today?

Lifetime ISA: Is it right for you?

27th May, 2016

Adults under 40 can save up to £4,000 annually while receiving a 25% government bonus each year using a lifetime ISA from April 2017.

Money put into the account can be saved until the age of 60 and can be used as retirement income or withdrawn to purchase your first property….
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Changes to Capital Gains Tax for 2016/17

20th May, 2016

Changes to capital gains tax (CGT) and entrepreneurs’ relief claims have been introduced in the Finance Bill 2016.

CGT rates for 2016/17 have been reduced from 18% to 10% for basic rate taxpayers, while for higher rate taxpayers the rate on gains over the unused part of the…
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Employer National Insurance Contributions for Apprentices Abolished

13th May, 2016

Employers with apprentices under the age of 25 will no longer need to pay national insurance contributions (NICs) for them.

Businesses employing apprentices that earn up to £16,000 could save £1,000 under the measures.

The measure was first announced at Autumn Statement 2…
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Preparing Charity Accounts: Be Aware of Reporting Obligations

9th May, 2016

Many charities are unaware of their reporting obligations with 1 in 5 having submitted the wrong documents, according to research by the Charity Commission.

1 in 6 did not send any form of report and others only sent their annual reports and accounts after reminders and explan…
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Lack of Management Skills Limit Business Growth

22nd April, 2016

A lack of leadership and management skills may be inhibiting business growth.
Just under half of new start-ups in the UK last less than 3 years. The UK also has a growing productivity gap, currently 18% below the G7 average.

A report by the Federation of Small Businesses look…
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150,000 Secure Home Ownership from Help to Buy

15th April, 2016

More than 150,000 people have bought a home using the Help to Buy Scheme since its launch in 2013.
The mortgage guarantee scheme, which allows lenders to buy a guarantee on mortgage loans, has proved popular with first-time buyers. The Treasury reports that 79% of mortgage compl…
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Guide: Reducing an Individual’s Tax Liability

10th April, 2016

The overriding aim of all personal tax planning is to legally reduce the amount of tax paid on an individual’s income. This income can come from a number of sources and the tax reduction strategies available will be based on the reliefs and allowances applicable to each s…
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National Living Wage: Employer Responsibilities

8th April, 2016

Thanks to the National Living Wage, Employers must now pay workers over the age of 25 at least £7.20 an hour.
The national living wage (NLW) replaces the current national minimum wage (NMW) of £6.70 an hour for people who are 25 or over.

This is not a simple increase of the…
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Business Announcements from Budget 2016

1st April, 2016

Chancellor George Osborne delivered his Budget 2016 on 16 March 2016 and outlined several changes national insurance, corporation tax and stamp duty.

Some of the headline measures relating to businesses announced in the Budget include:

Corporation tax – the rate of corpora…
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Guide: Transferring a Business to a Family Member

31st March, 2016

There are more than 3 million family businesses in the UK, which between them employ more than 9 million people and contribute 15% to GDP. Despite these successes, family businesses often experience difficulties when it comes to passing their businesses to younger generati…
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Expertise delivered by qualified, experienced accountants

Our team of expert accountants, business strategists, tax specialists and auditors have worked with owners of a broad range of businesses at every stage of their development to grow, prosper and consolidate. In fact, we’re immensely proud that other accountants in Suffolk and UK-wide consult our tax saving experts for advice; we believe that speaks volumes about the depth of expertise and knowledge we possess.

Whatever obstacles you need to overcome, we employ a ‘never say never’ approach.

Something to shout about

Outstanding service and knowledge. Very highly recommended. We met with Keith Senior for advice relating to starting a new business in Bury. Keith met with us for close to an hour at no charge and provided both a referral and excellent advice. Everybody we met has been a pleasure to deal with and we feel much more confident moving forward with our plans. You will be in good hands with this firm.

Joe A

You are obviously very knowledgeable and able to relate your expertise in an easy to understand way. We will definitely use Jacobs Allen Chartered Accountants again and believe that it was a relatively small amount of money, well spent to have this financial and tax review.

Maddy R

I chose to come to Jacobs Allen for advice as I felt you as Chartered Accountants were clearly knowledgeable yet very approachable, friendly and welcoming. To have all of my queries dealt with so professionally in a relaxed manner allayed any concerns I had about my tax affairs, past present and future. Your advice giving me a clear plan of the actions I have to take and your offer of assistance to put it into practice helped enormously in focussing my attention on building my business.

John H