Category Archives: Accountancy

Carrington Blake Accountancy Monthly Newswire – Tax E-News

CHRISTMAS IS THE TIME FOR GIVING; Those thinking about making gifts at Christmas should take advantage of the various inheritance tax (IHT) exemptions and reliefs available to them. Note that certain gifts can also have capital gains tax (CGT) implications. THE IHT ANNUAL EXEMPTION - USE IT OR LOSE IT! Although not particularly generous at £3,000 per donor per annum if this annual IHT exemption is not used by 5 April it is lost, although it is possible to carry the allowance forward one year if unused. This means that if the annual allowance for 2017/18 was not used an individual may make gifts of up to £6,000 in 2018/19. Where the gifts to individuals exceed the annual exemption there may still be no inheritance tax to pay if they survive for 7 years following the gift or...

Carrington Blake Accountancy Monthly Newswire

Getting clients to pay you on time; You’ve done the work. You’ve invoiced the client 60 days ago. You are still waiting to get paid 30 days after payment was due. It’s time to chase for payment. It’s never easy chasing clients for payment. However, this is business and you are entitled to be paid for the work that you have done. Unless your firm is a bank, you are not in the business of providing credit for your clients. So what should you do? Manage expectations You should set out your invoicing and payment terms with your clients early on. If you are dealing with a new client, you should consider asking for 50% of the cost before you start doing work for them. Talking about these terms up front with your client will help to avoid any...
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