Archive for June, 2013

Xero Accountancy Software In Swansea

Friday, June 21st, 2013

Xero SoftwareMany local business owners  recognise that cashflow is a vital part of running any business so having the ability to know your exact financial position on any given day is vital, that is why Xero cloud accountancy software is so popular.

Fergusons recognise that they can help local business owners improve their cashflow and profit margins by providing the right support with the right software that delivers day to day reports and actions.

Xero Accountancy SoftwarePresentation

Ferguson Invite

Tracey Answers Questions On Xero

 

Estate Planning And The Implications Of Poor Planning

Tuesday, June 4th, 2013

One of those areas that the majority of people leave too late is Inheritance Tax Planning which is not surprising when you realise you are being asked to consider your mortality.

However, inheritance tax planning is probably one of the most significant areas when it comes to tax, after all the majority of people have private properties together with all of their other assets to make a size-able estate, and one that could be subject to a large tax bill!

Here’s some interesting articles on estate planning and some of the changes being made …

estate planningIHT planning: Inheritance tax loss on sale reliefs

Inheritance tax (IHT) is always a touchy subject and often ignored. It is difficult enough dealing with an anticipated or even actual loss of a family member, but what happens when it transpires that the loss is reflected financially, too?

If securities or land and houses are sold at a loss to the probate valuation during the course of an estate’s administration, it is possible to substitute those lower gross sale proceeds for the probate valuation – providing the rules set out in sections 178 to 189 of the Inheritance Tax Act 1984 (“the Act”) (for securities) and 190-198 of the Act (for land) are observed. [Original source: here]

Of course we have all seen or heard of celebrities being caught using tax avoidance schemes and whenever something like this hits the headlines all tax planning receives close attention as discussed in this article by Carmen Reichman …

The future of Inheritance Tax Planning

High net worth clients and their professional advisers (the latter ‘morally repugnant’ according to our politicians) might be excused for thinking that the opportunities for taking steps to minimise the impact of a 40% inheritance tax charge on their death – or the death of the survivor in due course, depending on their wills – on estates over a relatively modest threshold of just £325,000 are gone.

With frequent media outbursts about the “unpatriotic” nature of tax planning by the multinationals and the coming into effect of the new GAAR (general anti abuse rules) later this year, should we not all just sit back and let the taxman take whatever he thinks appropriate? [Original source: here]

Property owners or landlords are probably the most at risk when it comes to estate planning and they certainly need to plan carefully if they want to pass on their estate at some time in the future. Here are 10 tips for landlords …

Landlords Advice – 10 Things Landlords Should Seriously Consider Before It Is Too Late

1. Know when to stop investing and start living. I have a friend who is fast approaching 50 years old who owns 82 properties. His goal is to get to 100. What’s the point? 100 is just another number isn’t it? What would you rather own, 100 properties up North or one large shopping Mall? I know which I would choose! Let’s say his properties are worth just £50k each, that means his portfolio is worth about £4 million. I can’t find a period in history when property values haven’t doubled in value over 20 years – feel free to correct me if you know different. Even if he’s got 100% mortgages today and never pays a penny off the capital he’s likely to be worth at least £4 million net well before he’s 70 if history repeats itself. Think what effect inflation will have had on his rental income and net profits too! [Original source: here]

Estate planning is such an important part of any personal tax planning but one that people ‘put off’ until it is too late to put an effective plan into place.

If you would like to discuss how estate planning can benefit you and your family then call for an informal consultation by phoning swansea on Swansea 01792 894375.

Estate Planning

 

 

 

Construction Industry – One Of The Growth Sectors

Tuesday, June 4th, 2013

As a company that has vast experience managing accounts in the construction industry we are fully aware how difficult times have been for some clients in the construction and building sector so it is nice to see some positive reports for a change.

Construction Industry Growth Reports

Is the UK economy on the turn?

The construction industry is reporting growth for the first time in 7 months as the demand for housebuilding has produced positive results which is great news for everyone including the construction community here in Wales …

Construction Industry

Construction Industry

Construction sector expands for first time in 7 months

An increase in housebuilding has helped Britain’s construction sector expand for the first time in seven months, according to the latest purchasing managers’ survey.

The Markit purchasing managers’ index for the construction sector rose from 49.4 in April to 50.8 in May – the first time since October it has climbed above the 50 mark that separates expansion from contraction. [Original source: here]

Staying on a positive front The Telegraph also reports the upward trend in the construction industry again attributing housebuilding as the main drive behind the growth …

Housebuilding drive lifts UK construction in May

Britain’s fragile construction sector started growing again in May, as a jump in residential housebuilding helped output rise for the first time in seven months.

Residential housebuilding grew at the fastest pace for 26 months, after Government plans unveiled in March to make it easier to get a mortgage spurred a construction drive.

“The Government’s attempts to boost house building has given months of lacklustre growth a shot in the arm,” said David Noble, head of the Chartered Institute of Purchasing & Supply. [Original source: here]

UK Construction Industry

 

 

Meanwhile a report in the International Business Times reports the Trade Union Congress taking a different view when it comes to the UK’s economy and how the collapse of the construction industry had a direct effect on the economy …

UK Growth Withering Under Weight of Collapsing Construction Sector

Britain’s ailing economy would have grown three times faster than it has if the construction sector had not collapsed under the weight of government austerity, according to analysis by the Trades Union Congress.

The TUC says its research shows that if construction output had remained the same over the past five quarters, rather than collapsing from the final three months of 2012, GDP growth would have been 1.2% rather than just 0.4%.

If you are in the construction industry and would like to discuss how Ferguson accountants can help improve your financial performance call us on Swansea 01792 894375

Construction Specialists

Xero Software Accounting For Business Owners

Tuesday, June 4th, 2013

Whilst business accounts are considered by many business owners as  a necessary evil they are in fact a great tool, when used correctly, to improve the performance and profitability of your business.

Therefore it is always interesting when software such as Xero is developed that makes life easier for the business owner and perhaps more importantly is easy to use and very affordable. You can read more about the Xero software here but in the meantime Xero continues to grow worldwide …

Xero Accounting Software

Xero Accounting Software

Cloud-based accounting firm Xero has toppled Port of Tauranga as the highest priced local stock on the NZX as it charts another notch in its belt, having more than tripled in the past 12 months.

The Wellington-based company’s shares rose 0.7 percent on Tuesday to $14.10, passing the port company, whose stock fell 2.7 percent to $13.90 in afternoon trading.

That makes Xero the highest priced local stock on the NZX and behind only dual-listed Westpac Banking Corp at $34.80 and Australia & New Zealand Banking Group at $33.70. [Original source: here]

Xero Wins High Tech Honours

Developing accountancy software that is easy to use for both accountants and business owners takes a lot of work which is why it was no surprise to see Xero winning this high tech award …

Rod Drury  Xero Founder

Rod Drury Xero Founder

Xero received the top honours at this year’s Hi-Tech Awards, while another cloud software company Vend also won in two categories.

NZX-listed accounting software firm Xero scooped up the company of the year award as well as the prize for over $5 million exporter of the year.

See a full list of the award winners here.

The judges at the awards’ ceremony in Auckland on Friday night commended Xero, with one saying:

“Xero is executing the Web 2.0 playbook perfectly, blending brand building, product development, capital raising and value creation, and global expansion. Xero is the new benchmark for product-based tech companies in NZ”. [Original source: here]

Xero Accounting Software Review

We love using the cloud-based Xero accounting software and so do our clients. Here is an independent review of the software by the people at Business2Community.com …

Simple accounting errors can be costly to a small business owner, with late penalties and overdraft fees eating away at a company’s bottom line. Xero is an online accounting platform that aims to help businesses reduce those types of critical mistakes, making it easier for merchants to keep their financial houses in order.

In this Xero review, I will take a close look at the cloud-based service and test many of the platform’s most popular features. I will see how easy the system is to deploy, and compare the benefits of a web-based platform to those of a traditional desktop system. Based on my personal experience using Xero, I will offer my opinion as to whether this is an accounting system that small businesses should use. [Original source: here]

If you would like to know more about Xero accounting and how it can say your business money and improve your business performance contact us on Swansea 01792 894375

Xero Accounting