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Explore insightful articles, tips, and industry updates from RMT. Stay informed on the latest trends, innovations, and best practices in accounting and business services.

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DOZENS OF NORTH EAST JOBS SAVED

Dozens of North East jobs have been saved after a buyer was found for one of the Tanfield Group plc’s divisions. Tanfield Engineering Systems Ltd was placed into administration in November last year by its directors after posting substantial losses in the previous financial year.

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An Introduction to VAT

VAT is a tax chargeable on taxable supplies made in the UK by taxable persons. Credit is given for tax paid to other businesses and the net balance is payable or reclaimable – normally on a quarterly basis. Taxable persons A taxable person is defined as one of the following carrying on a business: A

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Tax Planning for yourself and your family

Planning for yourself and your family Achieving your objectives Every individual will have a variety of goals in life, which may include raising children and saving for their education, caring for and supporting ageing parents, attaining a desired standard of living for themselves and their family, and financing their retirement. As your accountants, we can

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Raising finance for your business

Despite Government attempts to boost lending, latest figures suggest that bank loans for small businesses have continued to decline in recent months. According to the Bank of England, net lending to businesses suffered its biggest drop in April 2013, down by £3bn since December. If you are struggling to acquire the financial capital you need

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Cash Flow Forecasting

Cash flow forecasting or cash flow management is a key aspect of financial management of a business, planning its future cash requirements to avoid a crisis of liquidity. Poor cashflow management is the primary reason for a vast proportion of business failures. Many profitable companies find that they are, for all practical purposes, insolvent –

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Tax-efficient estate planning

An estate planning strategy Your financial planning strategy should include a tax-efficient estate plan. If your estate is large it could be subject to inheritance tax (IHT). However, even if it is small, planning and a well-drafted Will can help to ensure that your assets will go to your chosen beneficiaries. IHT is currently payable

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Maintaining good financial control

In any new business, retaining good financial control is vital. Achieving it involves: Deciding which areas you need to monitor and how frequently Generating the numbers quickly and accurately Sharing the results with everyone who needs to know them Interpreting the numbers correctly Taking appropriate and timely action based on your interpretations

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New HMRC Campaign on second homes

Economy built on innovation

I’VE written here before about the opportunities afforded by the tax allowances introduced by HMRC on research and development, and the benefits businesses can get from investigating and utilising them. The idea of ‘R&D’ immediately brings to mind an image of clever scientists in long white lab coats, developing products and processes of the highest

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Limited Liability Partnerships

An LLP is a form of legal business entity that gives the benefits of limited liability but allows its members the flexibility of organising their internal structure as a traditional partnership.  They are intended for businesses which carry on a trade or profession, and are particularly attractive to larger professional partnerships. LLPs are in law

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