Working for yourself is no matter a big concern, provided, when you have to become a watchdog for every penny coming in, to the penny going out. Checking it by yourself is a big job in itself, yet if you look your accountant as just a mere expense. But there are various reasons why you need to spend a little bit extra for getting a good accountant can literally help you grow your business. Simply check out the importance of having an accounting in your business.
Reasons to hire an accountant
- Saving your precious time
When you work for yourself, your main emphasis is to create a lucrative business that can meet all the obligations of the work you have won.
When you have lots of paperwork to do, keeping sideways of what you have spent and what comes in can take lots of time and literally consume much of your time away from your task in hand.
Recruiting an accountant who is conversant with the current tax laws, rules and regulations and deadlines, not to mention the one who can understand fully on what format HMRC needs all the information, can help saving you hours of time navigating through the website of HMRC, leaving you to utilize your valuable time more effectively.
- Minimize your tax liability
Saving your money is your top most priority, definitely you need a good accountant who can help you do so and provide you a good counselling relating to the most tax effective methods of doing your business.
Ascertaining the efficient way to operate-whether it is a limited company or a self-employed -and the most tax effective manner for flushing money out of your company is something you will be guided on, depending on your own situations.
They will visit through paying yourself by way of dividends, knowing what you can and can’t claim via your company expenses and the advantages of employing the flat rate VAT scheme.
The Flat Rate Vat Scheme (FRS) is usually a government incentive wherein VAT on invoices are chargeable from you at the standard rate (let’s say 25% in 2015) but need to pay HMRC at a lower percentage.
Suppose you are an IT Consultant, with a few VAT expenses which are chargeable. So, you need to pay only 15.5% to HMRC on the flat rate VAT scheme, keeping aside the balance after deducting as your profit.
You will then be getting a good advice by your accountant on whether the FRS will suit you and financially stand beneficial for your business or not.
- Avoid obtaining exorbitant tax penalties and fines
When you are having an accountant with your company, it means you don’t need to be panic about impending dates, be aware of the current legislation and ensuring that no tax deadline be ever missed by them.
If you are not having an accountant, then you will miss all your way out of doing tax submissions or can incur any fines which can range between £150 for a day in case you submit late annual accounts to a massive £1,500 fine for a six month delay.
It is not just limited to this only, the penalties incurred upon late submission of your annual accounts-this doesn’t involve the fines upon delay, or submitting your forms inaccurately for your self-assessment tax return, corporation tax and VAT return. You don’t have to worry if you have your accountant to take care of all these.
- Planning for your business doesn’t come easy
Having an accountant is a boon to your business as they will help you plan for your business growth in a coherent manner.
Generally there are many clients who have a dedicated accountant, so by having an accountant will make your business succeed as your accountant is responsible for a proactive approach because of the knowledge of ins and outs of your business.
- Tax Worries shouldn’t take a toll on your health
Managing tax is a cumbersome process. Although HMRC’s guide to expenses consists of more than 100 pages, so who will take care of, of course your accountant itself. Your accountant becomes responsible to make a claim to HMRC for your tax relief. By organizing yourself ensures to involve everything, you are eligible to in any claim or return which you make to HMRC.
Hence, your accountant is your guide who will assist you in all your accounting and tax related issues while at the same time you have a peace of mind in running your business efficiently.
Stage Rental To Add Style To Your Event
Whether it’s a small event or a gathering of many individuals, it is necessary to have a staging area. It differentiates other parts of a venue from a region where people need to focus when someone is making an important announcement and performing to entertain the crowd. The stage works like a focal point that grabs the attention of performers and organizers.
When hosting a fashion show, a ceremony, a business party, or an entertainment event, it is necessary to have an area to set up the stage. From a place to stand up during a speech or performance to speaker platforms, there are many things that can be organized on a stage.
Instead of arranging things to set up a stage, an organizer can hire stage rental services and focus on other necessary things related to an event. For example, an individual in LA can hire cost-effective services for stage rental in Los Angeles. The service provider provides all the necessary equipment to set the stage, while an organizer can work to handle other parts of the event.
Things To Consider When Getting Stage Rental Services
The services of stage rental are extremely famous these days among event organizers and people who frequently plan events. However, choosing the best service provider isn’t as easy as it seems. There are multiple things that an individual needs to consider when choosing a stage rental service provider, and below are some of them:
All service providers aren’t the same. From equipment to services and the price, there are many things that differentiate them from each other. When hiring the rental services of a company, the first thing to check is equipment. Check whether or not the flooring options of a service provider have sufficient space to keep different types of devices.
Types Of Stages
There are different types of stages that come in different sizes. For example, modeling stages are different from dance platforms. They could be different from each other in terms of shape and size. When getting the services of stage rental in Los Angeles, it is essential to consider the event type to understand which kind of stage is required to hold equipment and provide performers with the space to perform without hesitation.
Dimensions Of The Stage
In addition to the shape of a stage, it also essential to understand its dimensions before hiring it for an event. This will help to figure out the distance between the stage and the ground. Apart from that, it will let the organizer know whether or not the stage area is sufficient to perform operations on it. In this way, one can hire the best stage rental services for an event.
Collect information on the material a service provider has used to make the stage. It should be the material that creates a powerful and reliable stage for performers. Apart from that, a nicely-built stage will help to carry out activities on all types of grounds. Also, there should be strong materials to hold other equipment on the stage.
When you are hiring stage rental in Los Angeles, try to find out if the company will set up the stage or you need to hire people for the job. There are companies that set the stage for an organizer and also provide them without various other kinds of services that make an event successful.
In The End
Instead of hiring an unreliable and unknown service provider, get the services of a reputed stage rental company. This increases the chances of organizing an event that guests remember for a long time.
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Top 5 Multi-cap Mutual Funds in 2019
Multi-cap Mutual Funds are diversified mutual funds which are invested in stocks cross-market capitalization. Their portfolio consists of small-cap, mid-cap, and large-cap stocks. This fund doesn’t stick to one company although it is incorporated in small, mid and large-cap stocks in different proportion. When we compare these funds with low cap/mid-cap funds, then these funds are less risky and it is popular amongst the investors who have patience about the returns of an investment.
Best multi cap funds in India
- Kotak standard multi-cap (G) -Direct Plan
- JM multi-cap fund (G) -Direct Plan
- SBI Magnum multi-cap fund (G) -Direct Plan
- ICICI Pru multi-cap fund (G) -Direct Plan
- BNP Paribas multi-cap fund (G) -Direct Plan
In multi cap mutual funds, the Investments are invested in different market capitalization instead of investing and one segment of the market. In this fund, there is very less risk, and this is good for the investors who have a low-risk appetite. In this, the funds are invested in small-cap mid-cap and large-cap markets in a fixed proportion. As these schemes are invested in different segments of the market, so it allows the fund manager to search or to change to any sector according to his views towards the market and the product. Due to this nature of the scheme, the returns are also very good with minimal risk.
How to evaluate multi-cap mutual funds
Investing in any investment investor should assess the schemes. So, to evaluate the multiple mutual funds, an investor has to look upon listed points:
- History and the performance of the funds
It is essential to look out for the history of the funds and how they have performed in the past before going to invest in any multi-cap mutual fund. And it is also crucial to look out at the reputation of the fund house.
- Fund Returns
An investor must check on the annual returns of the fund house before investing in it. And check the performance of the fund for about the past 5-10 years. And always select those fund schemes which have generated more returns than expected returns.
- Expense ratio
Each house fund has a certain amount of charge annually as a part of their expenses on overall returns, which is called Expense ratio. Each house fund charges differently according to their costs. So before investing, an investor should check expense ratio because lower the expense ratio, lower the impact of returns.
Who should invest in Multi-cap Mutual fund?
Multi-cap mutual funds are diversified into stocks of various stocks and capitalization. These funds create exposure in the stock market. This is best for the people who are afraid of stock picking and find difficulty in deciding which fund should opt. And when they become pro in this investment market, then they can switch to over to pure cap funds.
*Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.