TMC - Accountants and Business Advisers

TMC staff successful in ACCA exams

Congratulations to Nikki Elsworth, who today received her results and has passed her final ACCA exams. Nikki joined us straight from school 8 years ago, so its great to see her achieve her goal.

Our latest recruit, Mark Benton, who joined us as part of our merger with Bishop Wood Accountancy, also passed a final level exam and now has just one subject to complete before he too finishes his ACCA studies.

Well done to Nikki and Mark – we know from experience how much effort and dedication it takes to get through the years of training.

| 8th February 2013, 13:21:18 | Posted by Kevin Gamble

A tree-mendous result for TMC

A few weeks ago, our website designers, Snapshot Media, sent us a tiny Christmas tree. They asked us to decorate it and put a photo of our efforts on Twitter.

Nikki, Diane and Emma got out their craft kits and designed ‘Fir’ther Christmas, and yesterday the guys at Snapshot announced we had won the prize of a new photoshoot for our website.

You can see our winning entry and the other competitors entries by clicking on this link

‘Fir’ther Christmas is a bit scary if you see him in a darkened room – its a bit like something from Tim Burton’s The Nightmare Before Christmas. The eyes seem to follow you around the room!

We hope you all have a wonderful Christmas

Best Wishes from Jo, Kevin, Nikki, Diane, Emma, Judi, Victoria and Mark

| 22nd December 2012, 10:43:15 | Posted by Kevin Gamble

TMC and Bishop Wood merge

We are delighted to announce that our merger with Bishop Wood Accountancy is now complete. The combined practice will take the TMC Accountancy name and work from our existing offices on Clifton Moor.

Victoria Stoker, principal of Bishop Wood, has worked with us on a number of cases in recent years and approached us earlier this year as she felt that she needed to offer a wider range of services to her clients, and could not expand her practice as was so busy working at client premises much of the time. Victoria will continue to work with TMC on a consultancy basis with a view to building an additional client base.

Victoria’s assistant, Mark Benton, has become a TMC employee and will take over the day to day management of Bishop Wood clients, working with our existing team.
We welcome Mark and Victoria to TMC, and wish Mark well in his ACCA exams next week.

Above all, we extend our welcome to the former Bishop Wood clients and look forward to meeting you and working with you in the future.

| 4th December 2012, 11:05:04 | Posted by Kevin Gamble

5% tax saving for higher rate taxpayers

It was announced in the 2012 Budget that the highest rate of tax would come down from 50% to 45% from 6 April 2013.

As we head towards that date there are a number of key planning points that higher rate taypayers may wish to consider:

1 Delay taking dividends from your private company until the tax rate is lower
2 Defer any bonus payments as long as this does not breach any employment contracts
3 If you are a sole trader and you need to invest in capital equipment, do this before the rate goes down, so that you have tax relief on this expenditure at the higher rate
4 If you are planning to make additional pension contributions, do so before 5 April to get 50% relief

Everyone’s tax affairs are different, and tax may be secondary to cash flow or other considerations, so please seek advice from us before you take any action on these points.

| 31st October 2012, 17:03:55 | Posted by Kevin Gamble

Auto-enrolment pension schemes - when do you have to comply?

There has been a great deal of publicity in the last few days regarding auto-enrolment pension schemes, and many of the Government’s own advertisements are rather vague. This has led employers of small businesses to believe that they should be offering pension schemes to their employees immediately.

Auto-enrolment is actually being introduced over 4 years. At present, the only employers who must offer a pension scheme are those with over 120,000 employees. Each month more are being brought online, but the key date for smaller businesses with less than 50 employees is 1st April 2015. This is the earliest date they will have to comply. It may be even later than that as small businesses are being split into monthly batches dependent on their PAYE reference number, and a batch will be brought on board each month from April 2015 through to 2017.

Our recommendation for small businesses is to consult an independent financial advisor over the next year and have a pension scheme in place well before the due date. Employees may wish to make contributions to get the ball rolling before the compulsory dates. It will also allow you to factor in the employer’s contributions when you are ...

| 3rd October 2012, 09:15:16 | Posted by Kevin Gamble

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