Outsourcing payroll – would it work for your business?

According to recent research, outsourcing payroll is the fastest growing sector in the global human resources outsourcing market. Could this be a cheaper option for your business in challenging times?

The impact of Philip Hammond’s Budget

A mixed bag for business….

Why Should a Business Consider Outsourcing their Accounting?

With the availability of advanced financial automation solution cloud-based accounting systems, all types of businesses from start-ups to large companies can take advantage and reap the short and long-term benefits of outsourcing their accounting function.

The Future of Payroll – credit where credit’s due

Over the past 25 years, the Payroll function has evolved and is now recognised as a profession in its own right! Approximately 32.5 million employees are paid in the UK every year. No matter the size of your Payroll with continual changes to legislation, flexible working arrangements, GDPR, salary exchange and auto enrolment to name just a few, few people will disagree that Payroll is complex…

How to avoid the common tax pitfalls when selling your business

The disposal of a business should always be driven by the commercial objectives of the buyer and the seller and tax planning should not distract from this.  However, for most business owners, the sale of a business is a once in a lifetime event, therefore ensuring an exit is implemented in the most tax efficient manner is important.  Often tax planning structures require to be put in place prior to a disposal but, without a crystal ball, it is difficult to predict when an exit opportunity will arise.  However, reviewing the existing company structure and shareholding profile should be considered to increase tax efficiencies prior to selling an entrepreneurial company.  

Overdrawn directors’ loan balances – Part 2

In my previous blog, I considered the implications of an overdrawn director’s loan balance in a company with cash flow struggles.

Cloud Accounting – Why should I care? Post-Event Review

Last week AAB hosted two successful events ‘Cloud Accounting – Why Should I Care’. Our guest speakers gave insights into the difference the adoption of cloud-based software can make to a business.

Pursuing a buy and build strategy

Buy and build strategies are common in private equity circles and with large trade players where an initial cornerstone investment is made in a platform business with a well-placed management team and corporate infrastructure from which growth is sought to be achieved predominantly through additional acquisitions whereby the owners of the targets sell their companies into the enlarged group and, together with the buyer’s executive team, become part of the future journey. 

How to get value from the Apprenticeship Levy

Do you know that the funds you build up through your Apprenticeship Levy Payments expire after 24 months?

AAB’s new interactive VAT Place of Supply Tool

Since the introduction of VAT, taxpayers have complained that they have been asked to be unpaid tax collectors. Increasingly, they are also being asked by HMRC to act as unpaid VAT inspectors too.

What is Scotland's new edge in attracting inward investment?

I have been reflecting on the range of excellent conversation that took place during the recent International Week. Of particular interest was Scotland’s position as a leading destination for inward investment.

Rural businesses – are you fully aware of how MTD for VAT will impact you?

Everyone is suddenly talking about Making Tax Digital for VAT (“MTD”), but many rural businesses may not be fully aware of what it means or how it will impact them, let alone what they might have to do to ensure they comply.  From 1 April 2019, if you are VAT registered with a turnover greater than £85,000, you will no longer be able to log onto HMRC’s Government Gateway to submit your VAT Return and must be able to file your VAT return by using (what HMRC refer to as) only ‘functionally compatible software’ (digital records). This means that the underlying records need to be digitally linked, without the need for manual intervention.   Businesses are now becoming aware of the extent to what functionally compatible software really means and the changes they will need to make to their financial record keeping just to be able to carry on doing something they had no problems with for years.

AAB Look Forward to the Scotland Food & Drink Leadership Dinners 2018/19

AAB are proud to be sponsoring the Scotland Food & Drink Leadership Dinner series in partnership with Morisons LLP and Livingston James. There are seven events being held across Aberdeen, Glasgow, Inverness, Shetlands, Edinburgh, Oban and Ayr which provide a platform for industry leaders to come together for vigorous discussion about, and input into, the future of the food and drink industry, helping to shape Scotland Food & Drink’s strategic direction. Additionally, it gives those in the industry and opportunity to network with peers and engage with national food and drink strategy.

Maximising Value from the Due Diligence Process

The current trading environment is presenting attractive opportunities for a number of businesses to grow through acquisition. We commonly find that some acquirers have a cavalier attitude to risk and overlook the value that can be realised during the due diligence process, quite often to their detriment.  Investing adequate time/resources and properly assessing the financial, legal or commercial aspects of the target business is paramount to securing value enhancement.

A resounding thumbs down for proposed IR35 changes?

The deadline for responding to HMRC’s consultation document on extending the off-payroll rules to the private sector has expired. We are all now eagerly awaiting their report on the responses given and the subsequent details of the chosen approach.

Key North Sea Tax Considerations - Tax Training

With the price of oil hitting a near four-year high, the North Sea has an exciting and prosperous outlook for 2019 and beyond with an increase in activity expected in the oil and gas sector. In Norway alone, Equinor are aiming to drill between 20 to 30 wells every year for the foreseeable future. We are also seeing many businesses diversifying from the oil and gas sector into the fast-growing renewable energy industry within the North Sea.

Xero Useful Links

The world of “The Cloud” can be a daunting place however, it is way the world is going and more so in the world of cloud accounting. There are many benefits of the cloud and cloud accounting including improved visibility, increased accessibility and real time information however, if it goes wrong it can be a stressful experience and panic mode can set in. Based on the most frequent queries we receive from our clients, we have collated a list of useful links to help you when things do not go as expected and the best way to deal with them.

What are the implications of becoming an increasingly digital organisation?

A reality of the modern world is one of constant change.  At a technical level this means the frequent release of new digital services to users, without them noticing and a move away from long release cycles and big-bang implementation (and the associated drama). 

Kicking off with Cloud Accounting: My first month

Yesterday I celebrated my one month anniversary since I began work at AAB. From day one Xero has been an integral part of my work day; ultimately the unequivocal answer to most tasks that are sent my way.

International payroll payments solution

More and more businesses are regularly processing international payments to employees and one of the service lines A2B can offer is the end-to-end process of your international payments.

Stuck in Second Class

The Government announced recently that they will not be proceeding with the planned abolition of Class 2 National Insurance Contributions. The abolition had been due to be effective from 6 April 2019 after being postponed for a year.

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