ADAMS ACCOUNTANCY

Met with our lovely accountants ADAMS ACCOUNTANCY today! Honestly Jodie Moriarty FMAAT AATQB and Michelle Adams are absolute saints 😇 Carbon Interiors honestly couldn't run like we do without them. Keeping on top our accounts and being there for every single question we have (trust me there are a lot 😂!). Anyone that works in our industry knows that CIS can be a minefield 🤯, whats in scope, what’s out of scope.. honestly trying to understand it isn’t for the faint hearted but they make it so easy!! Having them work along side Carbon is imperative, meaning we can focus on what we are good at and we can relax knowing that our accounts & finances are all looked after by the best 👏🏼 They explain things in simple terms for people like me 🥴 in ways I genuinely understand, rather than baffling me with jargon! honestly thank you so much ladies for another year of your hard work, many many more to come! 💪🏻

It’s a bit of a mouthful and possibly not something you’ve come across before if you are a newish business owner. Business asset disposal relief. Now before your eyes glaze over and you scroll on past, hear me out for just a moment because it could save you a tonne of tax. What is business asset disposal relief? This relief applies to sole traders or business partnerships that have been in existence for at least 2 years prior to the claim for business asset disposal relief. Without going into loads of detail in this post, it could reduce your capital gains tax significantly if you dispose of all or part of your business and the gains qualify for business asset disposal relief. Yes, it’s a bit of dry subject, but you could save up to 18% in tax, so if you are considering selling your business, take a couple minutes out and read our latest blog for the lowdown. #tax #CGT #AdamsAccountancy

A little bit of budget news for you. You have probably read about the headline changes but if you want to know more, please get touch #budget2024 #adamsaccountancy

One of the most common questions we get is, ‘Should I be a sole trader or set up a limited company.’ It’s a great question without an easy answer. It depends. On several different factors which your accountant should discuss with you in detail before advising you on the most appropriate structure for your circumstances. Some of these factors include: 1. Do you need to attract investment in your business? 2. How much money do you want to remove from the business each year? 3. Do you need to limit your personal liability? Find out the rest by reading our latest blog below. Have you thought about moving from sole trader to limited company in 2024? What questions do you have? #AdamsAccountancy #accountancy