Beware Pension Liberation

Have you been approached by firms that promise you instant cash from your pension fund? This known as pension liberation, and involves taking cash from your pension fund before you reach the retirement age set by your pension scheme.

Unscrupulous firms persuade individuals to apply to move their pension funds out of their current scheme, in order to permit an early release of funds, either by a direct transfer out or by a loan. In some case the individual is told there are no tax implications – but there are.

If an individual gains access to their pension savings before their scheme-set retirement age, that individual will be liable to a 55% tax charge on the extracted funds. This tax rate applies to all taxpayers whatever their marginal rate of income tax. It also applies if the monies are repaid back to the pension scheme. It is the individual who must pay this tax charge, not the new or old pension scheme, or the firm that organised the switch of funds.

Pension funds can be safely transferred from one scheme to another, but if you want to do this you should get advice from a qualified financial adviser who is registered on the financial services register.

RTI Roundup

Real time information (RTI) has had a bumpy start. In brief these are the major problems and work-arounds discovered so far.

Annual PAYE Schemes

If you expect to pay all of your employees just once in the tax year, and all on the same date, you can register your PAYE scheme with the Tax Office as an annual scheme

HMRC’s official guidance was that annual schemes only had to submit one FPS (full payment submission) under RTI for the month the payments were made, no nil EPS (employer payment summary) were required for the other 11 months of the year.

However, in practice any PAYE schemes registered as annual in 2013/14 are not acknowledged as ‘annual’ by the RTI system . This means nil EPS returns have to be submitted for every month when employees are not paid

The RTI system will be fixed on 17 May 2013 to cope with registrations of annual PAYE schemes, but you need to wait until after that date to tell HMRC you want the PAYE scheme to be annual. In the meantime carry on submitting nil EPS returns.

Forms P45 and P46

Under RTI forms P45 and P46 are not required to be submitted, even if the starting or leaving date of the employee fell before you were mandated to use RTI. If you have employees who started or left in 2012/13, and you didn’t submit a P46 or P45 before 6 April 2013 you should:

- If possible, enter the leaving date on your ex-employees’ 2012/13 form P14.

- Do not submit revised P14s for 2012/13 if these have already been submitted.

- Don’t include the ex-employee on your first FPS or EAS (employer alignment submission). The employment will be then be automatically ceased at 5 April 2013.

- Include details of the new employee in the EAS and/or first FPS and either show a date of starting of 6 April or leave this field blank.

NI Numbers

You don’t need your employee’s NI number in order to pay him, or to submit the FPS report under RTI.

If the worker arrives without an NI number, you should complete the other data fields for that worker; name, address, and (if you need to check the worker’s eligibility to work in the UK) – the worker’s passport number. You should leave the NI number field blank if no NI number has been provided. The worker should be told to apply for an NI number as soon as possible.

You can run an NI number verification request (NVR) under RTI, but this should only be attempted once you have sent the first FPS under RTI. If HMRC finds an incorrect NI number on the FPS you will be informed. In that case the worker can be asked to check if the NI number they have provided is correct. This can be done by using the HMRC form CA5403.

RTI Relaxation

The real time information (RTI) system for submitting PAYE information to HMRC must be used by small employers for all pay days on and after 6 April 2013. However, at the last minute the Government has agreed to a temporary relaxation of one of the RTI reporting requirements for employers with fewer than 50 employees..

If you fall into that category, and you pay some employees more frequently than once a month, you can send your RTI report known as full payment submission (FPS), to HMRC when you run your monthly payroll. You would normally have to send in a FPS every time you pay an employee.

However, there are conditions:

- The payroll run must be made before the end of the tax month, i.e. by 5 May for employees paid in April; and

- The relaxation also only applies for RTI reports submitted up until 5 October 2013.

Remember, this is not a postponement of RTI, it is a small and temporary change to one reporting rule. You still need to use new or updated payroll software to report payroll data under RTI for all pay dates on or after 6 April 2013.

Budget News


Employment Allowance
The big news for employers is a new Employment Allowance of £2,000 per year for all businesses and charities to offset against the cost of Employer’s Class 1 NI contributions. This should provide a real reduction in the cost of employing workers for all types of businesses – not just new employees taken on by new businesses. The new employment allowance will reduce employer’s NICs paid after 5 April 2014.

NI rates 2013/14
For 2013/14 the main rates and thresholds for NI contributions are:

Lower Earnings Limit (LEL) for Class 1 NICs – £109/week
Employer’s Class 1 above £148/week not contracted out – 13.8%
Employee’s Class 1 not contracted out from £149 to £797/week – 12%
Employee’s additional Class 1 above £797/week – 2%
Self-employed small earnings exemption – £5,725 per annum
Self-employed Class 4 from £7,755 to £41,450 per annum – 9%
Self-employed Class 4 additional rate above £41,450 per annum – 2%
Self-employed Class 2 – £2.70 per week
Voluntary contributions Class 3 – £13.55 per week

Contracting Out
Contracted out rates for NI are 10.6% for employees and 10.4% for employers, but those reduced rates only apply for members of salary-related pension schemes. All contracted out rates will cease in April 2016, when the new flat rate state pension comes into effect.

Employee Shares
Employee share schemes can be incredibly complex to set up and administer. However, the Government believes employee involvement in the companies they work for is a good thing, and employees owning shares in their employing company is the way to achieve this.

- Employee shareholder status. A new type of share scheme will permit employees to take up shares offered by their employer, in return for giving up certain employment rights such as the right to statutory redundancy pay. Normally an employee is taxed on shares received, like salary, but the first £2,000 of shares awarded to the employee under this scheme will be tax and NI free. The employer will be able to give up to £50,000 of shares to each employee, but any value of shares above £2,000 will be immediately taxable and subject to NICs.

When the employee sells those shares any gains they make will be tax free, even if the employee has taken up the full quota of £50,000 of shares initially. The company will be able to claim tax relief on the value of shares given to employees. This new scheme is due to apply for shares provided on and after 1 September 2013.

- EMI shares. The Enterprise Management Incentive scheme (EMI) is an existing share scheme that allows smaller companies to award up to £250,000 of share options to key employees. The shares are not tax free on disposal, but employees can now qualify for entrepreneurs’ relief which applies a tax rate of 10% on any taxable gains made on the EMI shares. The employee must still work for the company at the time he sells the EMI shares and must have held those shares for at least one year.

That last condition can cause a problem, as the employee usually holds the EMI share options and sells the actual EMI shares as soon as they are acquired. The law will now be changed to allow the period of holding EMI share options to count as a period of holding the EMI shares. Also, if the company is taken over or re-organises its shares, any shares acquired in exchange for EMI shares count as if they were EMI shares.

- Other share schemes. Other tax advantaged share schemes normally have to be individually approved by HMRC, but the Government has proposed that employers will be able to self-certify share schemes from 2014. This will make it easier for companies to set up a share scheme for their employees.

Loans to Employees
Employees who take an interest-free or low-interest loan from their employer are treated as receiving a taxable benefit if the loan exceeds £5,000 at any point in the tax year. This threshold will rise to £10,000 from 6 April 2014. This increase is designed to allow employees to take loans to buy annual rail tickets, which now exceed £5,000 in many areas, although applies to loans for any purpose.

The rules for loans made to company owners have been tightened up – see loans to participators below.

Cars, Vans & Fuel

Company Car Benefit
The taxable benefit of having the private use of a company car is based on a percentage of the original list price for the vehicle. For 2013/14 the percentage varies from 5% for vehicles with CO2 emissions up to 75g/km, 10% from 75 to 95g/km, and increases by 1% for every 5g/km of CO2 emissions, up to a maximum of 35%. This scale of percentages increases every year such that a higher amount of the list price of the same vehicle is taxed each year.

From 6 April 2015 cars with CO2 emissions in the band 0-50g/km will be taxed at 5% of list price, and those in the band 51-75g/km with be taxed at 9% of list price. Cars with CO2 emissions of 76g- 94g/km will be taxed at 13% of list price, with the percentage increasing in 1% steps for each additional 5g/km, up to a new maximum of 37%. Further increases in the percentages of list price have been published for the years 2016/17 to 2019/20.

Fuel Benefit
Where a company car driver receives free fuel, the taxable benefit is calculated as the percentage of the list price for the car applied to the fuel charge multiplier set at £21,100 for 2013/14 (£20,200 for 2012/13). The maximum taxable benefit of receiving free road fuel for private use will increase from £7,070 (2012/13) to £7,385 for 2013/14.

The taxable benefit when fuel is provided for private use in a company van will rise from £550 for 2012/13 to £564 for 2013/14. In future years the fuel benefit multiplier for cars and the van fuel benefit will increase in line with the rate of inflation as measured by the RPI.

Business Taxes

Cash Basis
Unincorporated businesses will be permitted to calculate profits and losses for tax purposes using the cash accounting basis, rather than the standard accruals accounting basis. The cash basis ignores all creditors, debtors, prepayments and accruals, and includes flat rate amounts for certain expenses such as a motoring or use of home for business purposes.

This cash basis will be compulsory for anyone who claims Universal Credit, but it can only be used by businesses whose turnover, when they start to use the cash basis, is under the VAT registration threshold. The business will be required to continue using the cash basis until it is no longer suitable for them, perhaps when the turnover exceeds a certain threshold. This will prevent businesses from opting in and out of the cash basis to gain a tax advantage. The cash basis can be applied from 6 April 2013.

The taxation of partnerships can be very complex, so the Government has asked the Office for Tax Simplification to make suggestions to simplify tax for partners and partnerships.

Alongside this review the Government is considering changes to the self-employed status of the members of LLPs, and restrictions on the variation of profit allocations within the LLP. These changes may make the taxation of LLP members more like employees of companies for some members. Any changes to the taxation of partnerships or LLPs will not take effect until at least 2014. However, if your business operates as an LLP please talk to us about how the structure could be changed if the tax changes prove to be hostile to LLPs.

Corporation Tax Rates
The corporation tax rates for small and large companies will be aligned at 20% from April 2015. This will remove the need for the associated companies rule and the marginal rate of corporation tax will disappear.

The small companies rate is already at 20% and the main rate will be 23% for the year beginning 1 April 2013, 21% for the year beginning 1 April 2014 and then 20% for the year beginning 1 April 2015.

Loans to Participators
Where a company that is controlled by its directors or five or fewer shareholders, makes a loan to a participator (typically a shareholder/director), there are tax consequences. The company must pay 25% of the loaned amount to HMRC if the loan is not repaid within nine months of the end of company’s accounting year. This rule is widely taken advantage of by company shareholder/directors who repay the loan just before the nine month deadline and immediately take out a replacement loan from the company. New tax avoidance rules will apply from 20 March 2013 such that:

- loans channelled through third parties to shareholders will be included in these rules;
- transfers of assets from the company will be treated as loans; and
- the immediate replacement of a repaid loan will not count as a repayment of the first loan.

If you have taken a loan from your own company we need to discuss whether you will be caught be these new tax avoidance rules.

Capital Allowances
The rates and thresholds of the main capital allowances will apply as follows for 2013/14:

Main pool: writing down allowance: 18%
Special rate pool: writing down allowance: 8%
Annual Investment Allowance (AIA) cap: £250,000

Expenditure within the AIA cap qualifies for 100% allowance in the year the asset is bought. The AIA cap was changed in April 2012 and January 2013, so great care is needed to calculate the available AIA for accounting periods which straddle the change. The AIA cap is due to revert to £25,000 on 1 January 2015.


Personal Allowances
The standard personal allowance will rise to £10,000 from 6 April 2014, a year earlier than expected. The age related allowances are frozen until 2015. The allowances as they have been announced for 2013/14 are:

Personal allowance (born after 5 April 1948): £9,440
Personal allowance (born between 6 April 1938 and 5 April 1948): £10,500
Personal allowance (born before 6 April 1938): £10,660
Minimum married couples allowance*: £3,040
Maximum married couples allowance*: £7,915
Blind person’s allowance: £2,160
Income limit for allowances for age related allowances: £26,100
Income limit for standard allowances: £100,000

* given where one partner was born before 6/4/1935, as 10% reduction in tax due.

Income Tax Bands and Rates
The income tax bands for 2013/14 are:

Savings rate* (10%) – 0 to £2,790
Basic rate (20%) – 0 to £32,010
Higher rate (40%) – £32,011 to £150,000
Additional rate (45%) – over £150,000

*The savings rate of 10% only applies if the individual’s net non-savings income does not exceed the savings rate limit.

The additional rate was reduced from 50% in 2012/13.

The higher rate and basic rate thresholds can be increased by paying personal pension contributions or gift aid donations.

Pension Allowances
The annual allowance and lifetime allowance will both reduce in 2014/15 as shown below. The annual allowance can be expanded by unused amounts of allowance brought forward from the previous three tax years.

The lifetime allowance limits the amount of tax advantaged funds a person can draw on at retirement. If the pension fund is greater than the lifetime allowance when the scheme member starts to take his benefits, the excess is taxed at 55%. Individuals with funds that already exceed the lifetime allowance can apply for fixed protection of the existing value of their fund.

Annual allowance: 2012/13: £50,000, 2013/14: £50,000, 2014/15: £40,000
Lifetime Allowance: 2012/13: £1,500,000, 2013/14: £1,500,000, 2014/15: £1,250,000

Pension Drawdown
Some individuals can choose to drawdown amounts from their pension fund instead of buying an annuity with the funds on retirement. The maximum amount of the permitted drawdown is increased from 100% of the equivalent annuity value of the fund, to 120% of that same annuity value. This change comes into effect from 26 March 2013.

Capital Taxes

Capital Gains Tax
The thresholds for capital gains tax (CGT) have increased slightly for 2013/14:

Annual exemption: £10,900 (2012/13: £10,600)
Annual exemption for most trustees and personal representatives: £5,450 (2012/13: £5,300)
Rate for gains within the basic rate band: 18% (no change)
Rate for gains above the basic rate band: 28% (no change)
Rate for gains subject to entrepreneurs’ relief: 10% (no change)
Lifetime limit for gains subject to entrepreneurs’ relief: £10 million (no change)

Selling to Employees
When a business owner sells his business, they can qualify for entrepreneurs’ relief if they sell the whole business, or a significant part which can be operated as a separate business. This relief reduces the tax payable on the sale to 10%.

The Government is proposing a new capital gains relief to encourage business owners to sell a controlling interest in a business to the employees who have worked in the business. This new tax relief will not apply until April 2014.

Seed Enterprise Investment Scheme (SEIS)
The SEIS was introduced for investments made in small new trading companies from 6 April 2012, with a limit on investments under the scheme of £150,000 per company. Each investor can subscribe for up to £100,000 of SEIS shares per tax year and get 50% income tax relief.

If that investment is funded using a capital gain made in 2012/13, 100% of the reinvested gain is exempt from CGT. The CGT exemption was to be limited to investments made only in 2012/13, but it has been extended for two further years at the rate of 50% of the gain, not 100% of the gain. This is still a significant tax saving.

The original SEIS rules contained a serious trap for investors. A company acquired from a formation agent could not qualify; it had to be incorporated with individuals rather than another company as the original subscribers. This administrative niggle has been removed for shares issued from 6 April 2013, but not for companies formed earlier.

Inheritance Tax
The inheritance tax (IHT) nil rate band will remain frozen at £325,000 until 2017/18. This is the amount of a deceased person’s estate that is free of inheritance tax.

The estate value is arrived at after deducting any debts owed by the deceased, and the value of any assets that qualify as business property, agricultural property or woodlands. A number of tax schemes exist to make use of these deductions for debts to reduce the value of the deceased’s estate on death, and hence reduce the IHT payable. To block such tax avoidance schemes the deduction of debts from the value of an estate will be prevented where:

- the debt is not repaid to the creditor; or
- the loan was used to acquire property which is exempt from IHT.

These changes will apply from the date  the Finance Act 2013 is passed.



The VAT rates remain unchanged at…

Lower rate: 0%
Reduced rate: 5%
Standard rate: 20%

The registration and deregistration limits from 1 April 2013 are…

Registration turnover: £79,000 (1 April 2012 – £77,000)
Deregistration turnover: £77,000 (1 April 2012 – £75,000)

Five Ways to Free Up Cash-Flow

Even the most profitable companies sometimes run into cash-flow problems. Here’s a few tips on freeing up cash in your business:

Review Your Expenses
Look at your current expenses such as wages, rent, insurance and communications. Ask your existing suppliers for a better deal, and get quotes from competitors to uncover potential savings. If you find a better offer that your existing supplier can’t or won’t match, then switch.

Early Payment Discount
You might encourage your customers to pay early by offering a discount for early payment. The level of the discount should depend on the profits you are making on orders. This can help to speed up payment, improve your cash flow and reduce bad debts. Also, if you usually pay invoices before the due date, ask if there are any discounts available.

Invoice Factoring
This involves selling your invoices to a third party. In return they will process the invoices and allow you to draw funds against the money owed to your business. Essentially, these companies provide a finance, ledger management and debt collection service.

Inventory Control
Finding the right balance between having enough stock to make sales and reducing the money you have tied up in stock can really help. Why not try negotiating ‘Just In Time’ delivery terms with your suppliers? This means your suppliers will deliver the stock only when you need it (i.e. when you have an order), so you don’t tie up valuable cash in stock, which you don’t have a need for.

Leasing Assets
Owning fixed assets, such as premises or equipment, is better than renting them for long  periods of time. But sometimes it makes more sense to lease assets rather than own them outright. One option would be to selling an asset and leasing it back- this would really help your cash-flow.

Have a good credit control in place
It is important that you keep in regular touch with your debtors and that you regularly review the levels of credit given. Collections should be done regularly and professionally and notes should be taken when credit controlling so that patterns become apparent.

Increased Annual Investment Allowance

The annual investment allowance (AIA) gives a 100% deduction for tax purposes for the cost of plant, equipment and certain fixtures in buildings, which qualify for capital allowances. The AIA has an annual cap. This started at £50,000 in 2008, was increased to £100,000 by the previous government, and was cut to £25,000 in April 2012 by the current incumbents.

Now the AIA cap will temporarily increase to £250,000 for expenditure incurred in the two years from 1 January 2013. Equipment bought on and after 1 January 2015 will be subject to the reduced AIA cap of £25,000, unless the Chancellor of the day has another change of mind. Expenditure that qualifies for capital allowances, but which exceeds the available AIA cap for the business is given tax relief at the rate of 18% or 8% per year, depending on the nature of the item purchased.

The AIA cap for accounting periods that end on 31 December 2013 and 31 December 2014 will be £250,000, fair and square. But where your business has an accounting period that straddles 1 January 2013, the calculation of the AIA cap is complicated. Say your accounting period ends on 31 March 2013. You need to split the accounting period (for AIA purposes only), into:

  1. 1 April 2012 to 31 December 2012 (portion of £25,000 AIA); and
  2. 1 January 2013 to 31 March 2013 (portion of £250,000 AIA).

The maximum AIA for the business is the sum of the portions of the AIA cap due for each of those sub-periods a) and b). However, the expenditure must also be spread over those two periods to gain the maximum advantage from the AIA. The business cannot spend its maximum AIA in the period from 1 January 2013 to 31 March 2013.

The complications do not stop there, as there is protection for businesses that have already spent their maximum AIA of £25,000 in 2012. Please ask us to check how much the AIA cap will be for your business before you purchase any expensive equipment.

Spotlight on Jane Heath, Director of Brilliant at Bookkeeping North Staffordshire

As a mum of two, Jane Heath, decided to set up her own franchise business with Brilliant at Bookkeeping because she wanted to have her own business, giving her the flexibility she needed as a working parent of two small children.

Jane has spent the last 16 years working her way up the internal accounts department at a local firm, Marley Eternit Ltd. She started there are a trainee, but reached the heady-heights of operational accountant before she decided to strike out on her own with Brilliant at Bookkeeping.

Jane says:

“I wanted to join Brilliant at Bookkeeping because the support that the company provides is amazing. With the network that the franchise provides, despite the tough times many other small businesses are facing, I am confident that we will be profitable in double quick time.”

Jane is setting up the business with her own personal savings, and is a fully qualified management accountant, having gained her CIMA qualification whilst being employed by Marley Eternit. However, the beauty of Brilliant at Bookkeeping is that you don’t need to be a qualified accountant to join. All of the franchise owners are given full training and assistance as soon as they start. Brilliant at Bookkeeping prides itself on the approach it has to bookkeeping. The company offers jargon free and transparent services to its clients; where cost of service is agreed up-front.

The region that Jane is going to be working in is likely to offer her an interesting challenge due to the wide-range of clients she is likely to come across. However, she can’t wait to get her teeth stuck in and says it’s going to be a “mixed bag” that she can’t wait to get going with.

Jane says:

“I love my job, but I miss meeting new people at Marley Eternit. This region has such a wide range of different types of businesses that I am sure I will enjoy the variety of work I am exposed to. In my current situation, I don’t get the opportunity to go out and meet people. Now I will get to help people from a variety of industries and backgrounds.”

Jane was drawn to Brilliant at Bookkeeping because of its great brand reputation, which has become synonymous with honest, and straight-talking accountancy services. She also liked the fact that it’s all set up so that she can start working quickly – she is determined to give her new clients a superb service to carry on the franchise’s tradition.

Jane concludes:

“As someone who lives on the border between Stoke on Trent and Staffordshire Moorlands – with countryside on one side and industrial on the other, Brilliant Bookkeeping gives me the opportunity to get to know lots of local businesses and help them grow. In working with me, a business will know that they don’t have to worry about their bookkeeping – they will be able to concentrate on growing their own business  instead.”

To contact Jane about the services she is able to offer you, please call her on 07759 369655
 or email her at

Spotlight on Ceri Wilson, Director of Brilliant at Bookkeeping North Wales

Llanddulas-based Ceri Wilson heads up Brilliant at Bookkeeping North Wales, offering affordable, transparent bookkeeping and accountancy services to businesses in the region.

Mum of three Ceri launched her franchise after working as a finance assistant at Bangor University. She gained her AAT qualification and is now in the process of studying for her ACCA qualifications, which will see her become a certified chartered accountant.

Ceri says:

“My ex-husband and I set up a waste management business in 2001 which proved to be very successful, but when we split in 2009 I was bought out of the business.

“Having already set up a business from nothing, I can appreciate all the time and effort that goes into setting everything up correctly, finding the right suppliers, finding customers – it all takes an incredible amount of time. With the Brilliant at Bookkeeping franchise, a lot of the systems are already in place and it is good to have other people to talk through your ideas with.”

Despite the financial downturn in the UK, Brilliant at Bookkeeping is a runaway success in Britain because the company offers the affordability and support that small businesses need in tough times.

Launching Brilliant at Bookkeeping North Wales from personal savings, Ceri has pursued her career in finance committedly since joining a Youth Training Scheme in Accounts at the age of 16.

“I have continued my work and studies even while raising a family. I sat my first AAT exam when I was eight months pregnant with my first son and my second AAT exam when I was seven months pregnant with my second son. Much like with accounts, my life and career have always been all about keeping things balanced!”

Despite the financial downturn in the UK, Brilliant at Bookkeeping is a runaway success because the company offers the affordability and support that small businesses need in tough times.

Brilliant at Bookkeeping was recently accepted by the British Franchise Association (BFA) for provisional membership and runs on an ethos of honesty, transparency and accountability.

While Ceri had previous accounts experience, no previous accountancy experience is needed  to become a Brilliant at Bookkeeping franchisee as full training is given and all franchise holders benefit from back office support.

To contact Ceri, call 07949 646743 or email

Find out more about becoming a Brilliant at Bookkeeping Franchisee.

Spotlight on Enrico Varchetta, Director of Brilliant at Bookkeeping Cardiff

A Cardiff-based accountancy and bookkeeping business is offering mouth-watering services to restaurants, public houses and hotels after deciding to specialise in working with clients in the hospitality industry.

Enrico Varchetta (37) from Cardiff is drawing on over 10 years experience of running restaurants and working in the catering industry in his new venture, providing accountancy and bookkeeping services.

Mr Varchetta moved from Naples to Wales in 2000 in order to improve his English and satisfy his desire to travel. He fell in love with Wales and decided to settle in Cardiff.

Involved in the catering industry in Italy, Enrico opened and ran an Italian restaurant in Cardiff for six years before deciding to enroll at The Open University to study economics and accounting.

He graduated last year and decided to put his new found knowledge to good use and invested in a franchise opportunity with Brilliant at Bookkeeping.

Brilliant at Bookkeeping is a national bookkeeping practice established by Anita Brook, a fellow of the Association of Chartered Certified Accountants with 20 years experience. Enrico and the network of Brilliant at Bookkeeping franchisees receive everything they need to launch and run a bookkeeping practice, from training and software through to IT equipment and ongoing support.

Enrico’s venture is going from strength and he is regularly working with three clients, providing accountancy advice, management accounts and bookkeeping services to them. He also works with several other clients on an ad-hoc basis.

“I am not sure whether it is a coincidence or not but the businesses that work with me on a retained basis are in the food trade and hospitality, which obviously, I know a great about after running a restaurant for eight years and working in the industry in Italy for over a decade. I am now offering specialist accountancy and bookkeeping services to the hospitality industry across Cardiff and south Wales. I hope my unique blend of experience and qualifications will make the perfect recipe and provide people with a valuable service, insight into their businesses and bookkeeping help.”

The latest company to ask Enrico for help is the Casanova, an Italian family-run restaurant in Cardiff. Owner of Casanova, says:

“Finding well qualified, experienced and reliable bookkeeping and accountancy services at competitive rates is very hard to do but Enirco is providing just that. His experience and appreciation of working with the hospitality industry certainly adds value and comes across. We’re really pleased to be working with him and Enrico is already showing that he can save us time and money, meaning we can concentrate on running our business.”

With the end of the financial year approaching, Enrico is looking forward to helping even more companies with their bookkeepin needs and is urging them to act sooner rather than later. “It is always best to plan ahead and getting everything in order sooner rather than later is certainly advisable,” he says.

Any one wanting to talk to Enrico about his services should phone 07877 342578.

Find out more about becoming a Brilliant at Bookkeeping Franchisee.

Accounts Assist rebrands its bookkeeping franchise scheme

Accounts Assist, one of the UK’s leading Chartered Certified accountancy practices has rebranded its franchise arm as Brilliant at Bookkeeping.

Accounts Assist, the ACCA Chartered Certified Accountants, is a specialist provider of accountancy and taxation services for all types of small businesses, freelancers, consultants and contractors.

Its bookkeeping franchise scheme, Brilliant at Bookkeeping formerly known as Accounts Assist Franchise Ltd, offers people the opportunity to provide bookkeeping services, safe in the knowledge that they have ongoing support for every area of their business and experienced accountancy professionals are just a phone call away.

Anita Brook, Managing Director of Accounts Assist and Brilliant at Bookkeeping, said:

“With an ever increasing need for individuals and businesses to control and record their financial expenditure, there is a real demand for talented bookkeepers.

“Brilliant at Bookkeeping offers an honest, transparent and hands-on approach to bookkeeping and we pride ourselves in providing an exceptionally well supported franchise opportunity, including a complete and tailored training programme, full guidance on setting up and registering the company, and detailed on-going support.

“As part of the package, franchisees will also receive branded marketing and corporate materials, as well as a laptop pre-loaded with all the latest Sage Accounting software.”

Mark Stockdale from North Lincolnshire has been a franchise holder with the firm for just over a year. Having previously worked in finance, he wanted to put his skills to use and set up his own business.

“I chose to open a franchise as I realised that with the backing of a well known brand, nationwide marketing, expertise and technical support from head office, I would have better market penetration and therefore achieve higher revenues,” comments Mark.

“It’s great to be providing vital support to businesses in the area, helping clients better understand their finances and improve revenue,” adds Mark. “I’m able to apply the knowledge I have acquired over the years, while at the same time enjoying the independence and improved work-life balance that comes with running my own business.”