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Our News & Knowledge Centre

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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Should You Form a Limited Company?

Recent tax changes have made it even more important to consider carefully, when running a business, whether it is best to trade as: Sole trader – an individual Partnership – two or more individuals or companies Limited liability partnership Limited company We are often asked, ‘Should I form a Limited Company?’ The reality is that

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Mik Kitchen RMT

RMT Accountants funds new St Oswald’s milk kitchen

Special facilities dedicated to preparing feeds for babies and young children are set to be built at St Oswald’s Children and Young Adults Service thanks to a donation from a north east accountancy firm. RMT Accountants & Business Advisors are funding the creation of a new milk kitchen at St Oswald’s based in Gosforth, as

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Should you buy a franchise?

Franchising is growing in popularity in the UK, and can be a profitable way of doing business. However, there are advantages and disadvantages and Specialist Franchise Accountants can advise on these areas The process involves the licensing of a business ‘blueprint’ by a franchisor, to a franchisee. The franchisee buys the rights and obligations of

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The Value of Outsourcing

Most business owner-managers find that they spend only a small percentage of their time on important strategic planning. A great deal of their effort is spent on the day-to-day running of the business – the ‘housekeeping’ side of things. But do you really need to do all this work yourself, when it is possible to

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Entrepeneur Raises A Cup to Accountants

One of the north east’s brightest young entrepreneurs has raised a cup of tea to the organisations that have helped her get to where she is today. Jules Quinn set up The *TeaShed, a design-led tea, teaware and homeware company based at the Northern Design Centre in Gateshead, after completing her fashion marketing degree at

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Business Exit Planning

Strategic Business Exit Planning When embarking on a new venture, it is unlikely that you will give much consideration to how you will exit the business when the time comes. However, it is very important to plan ahead and consider business exit planning in order to maximise the personal financial gains, as well as ensuring

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New HMRC Campaign on second homes

New HMRC Campaign On Second Homes

Residential landlords across the north east are being targeted again by the taxman, this time in a new campaign designed to recoup undeclared profits on the sale of second homes. HMRC’s new Property Sales campaign aims to claw back any unpaid capital gains tax (CGT) from people selling property that is not their main residence,

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What you need to know about company car tax

The basis for taxing those who use company cars is to tax a figure calculated by multiplying the car’s list price by an emissions-based percentage (the “appropriate percentage”), with a 3% surcharge on diesel powered cars. The maximum taxable value of the benefit is 35% of the list price of the car when first registered.

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Capital Allowances

Capital allowances permit businesses to write off the cost of capital assets, such as plant and machinery, against their taxable income. They take the place of commercial depreciation, which is not allowed for tax. Annual Investment Allowance (AIA) For the period up to 1 January 2013 the first £25,000 of the year’s investment in plant

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