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8 Ways To Prepare For GDPR

By |2018-05-18T12:10:44+00:00April 25th, 2018|

For the past couple of months you'll have been hearing a lot about the new GDPR law and probably receiving a lot of emails from companies asking you to accept to remain on their mailing lists. So, how can you ensure your business complies? GDPR Re-cap It was announced that the new General Data Protection

What are Management Accounts, and Do I Need Them?

By |2018-04-17T11:29:41+00:00April 10th, 2018|

Simply put, Management Accounting provides regular, timely financial and statistical information to enable you to make informed business decisions. This is vital for all businesses, as it is used to drive performance, inform strategy, maximise profit and highlight issues. Depending on the size of your business, Management Accounts, should be prepared on a monthly or

Increases in Minimum Contributions for Automatic Enrolment Pensions

By |2018-04-17T11:27:32+00:00March 28th, 2018|

The total minimum contribution for automatic enrolment pensions increases from 2% to 5% of qualifying earnings on 6 April 2018, by law. This contribution will increase again on 6th April 2019 to a total minimum amount of 8%. As an employer you must ensure that you have increased the amount of their minimum contributions into their staff's automatic

Bitcoin and the Tax Implications

By |2018-03-12T15:25:15+00:00February 9th, 2018|

Bitcoin is a new digital currency using peer-to-peer technology and no central authority or banks, otherwise known as a ‘cryptocurrency’. The bitcoin is currently trading at £7579.17 to 1BTC (February 2018), following a fall from £15,000 in December 2017. As the value of the bitcoin rises and falls, many are considering the tax implications of

Introduction of the Dividend Tax – Why your tax return may be higher than expected

By |2018-03-12T15:25:31+00:00January 29th, 2018|

If you noticed your tax return being a little higher this year, here may be the reason: Many company owners pay themselves in the form of dividends, rather than a salary. However, in 2016 a new regulation was introduced called the ‘Dividend Tax Allowance’ whereby only the first £5,000 of your dividend payment will be

Autumn Budget 2017 – The Highlights

By |2017-12-18T13:54:19+00:00November 22nd, 2017|

When the Autumn Budget is released the amount of information provided can often be overwhelming. So here you'll find the important highlights that could affect your business: From April 2018, personal allowance will rise in accordance with inflation, from £11,500 to £11,850. From April 2018, the basic rate threshold will be increased to £34,500, meaning an

GDPR – What is it and What does it mean for you?

By |2018-03-12T15:25:45+00:00October 3rd, 2017|

You may have heard about the new legislation coming into effect soon called the GDPR, but what is it, and how will it affect you and your small business? What is GDPR? GDPR stands for General Data Protection Regulation and will replace the current Data Protection Act (DPA), standardising data privacy laws across Europe.  The

How Franks Are Modernising Accountancy in Yorkshire

By |2017-08-29T13:41:41+00:00June 2nd, 2017|

Ah, Yorkshire – what a wonderfully vibrant and beautiful county this is! We absolutely love this area and love helping local companies succeed in their business ventures even more. From Harrogate to Wetherby, York and beyond – Franks has been modernising the way in which start-up businesses throughout Yorkshire approach accountancy practices and procedures. How