Lodestar Accounting Limited

What does January mean for your business? For us, it means an influx of people asking about filing their tax return. 😲 If you know you need to complete yourself-assessment tax return, this is your reminder to get started now if you haven’t already! If it’s your first time, they can take a bit of time to complete, so don’t leave it until the last minute! The deadline is midnight 31st January 2025. If you need support with your self assessment tax return, please reach out to us as soon as you can to make sure we are able to support you. #taxreturns #taxadvice #taxsupport

All accounting firms don’t all do the same thing. Some will specialise working with specific types of businesses, or are experts in one specific area of accounting, like bookkeeping for example. If you want to find an accounting firm that supports you in the right way, you need to first figure out EXACTLY what you need support with. Every business is unique, and so are its financial needs. Whether you’re scaling an e-commerce empire or running a local shop, the right accountant will bring industry-specific insights to the table. It isn’t only skillset though, you want to create a relationship that works for you, which is why it is also important to meet with your accountants to better understand if you will work well together, if they understand your needs and are able to approach your finances in the way you desire. For example, out of several accounting firms, Lodestar was chosen to support Rheal Superfoods business finance. But why did we fit their needs better than other firms? ➡️ Ecom expertise: We demonstrated real knowledge of their 3rd party ecommerce software. ➡️ Start-up Synergy: As Sean put it, "We really got on with Chloe and liked the fact Lodestar was also a start-up who we could scale with." ➡️ Peer references: We connected Sean with our other e-commerce clients for honest feedback - connections he still values today. ➡️ Flexible approach: Our ability to adapt and offer additional support as needed aligned with Rheal's fast-paced growth. These are all things you should be considering when choosing a firm that will best support your business. So, the next time someone says “all accountants are the same,” let them know: the right accountant is a game-changer for your business. Please reach out to us if you think we could be a good fit for your business. #accountingadvice #outsourcingaccounting #accountingexperts

It will become much less tax efficient to have a Double Cab Pickup as a company vehicle, here’s why. 👇 Double Cab Pickups are often used as company vehicles as they are big enough to use as a work vehicle yet also suitable for day to day personal/family use. And, as long as the model chosen had a payload of at least 1 Tonne, it could be treated as a commercial vehicle for company tax purposes, making it a tax efficient option as well as a practical one. However… from April 2025 these vehicles will now be taxed as cars.🚗 What does this mean? Swipe through the slides for further information. But in short, it will soon become much less tax efficient to have a Double Cab Pickup as a company vehicle. #companycar #taxchanges #taxefficientvehicle #doublecabpickup

Lodestar is made up of an incredible team of remote workers: The Lodestar Dream Team!. We may not all share the same office, but we do all share the Christmas spirit!🎄 We would all like to wish you a Merry Christmas and hope you have a wonderful break with friends and family. Here is each of our team, ready to embrace the festive season! 🎅 A big thank you to each and everyone in the team, and to all our clients this year, Merry Christmas! #remoteteam #merrychristmas

Why you should harness your drive during ‘The Catalyst Phase’ of your e-commerce business.👇 This is perhaps the most important moment as it sets your business idea in motion. The Catalyst Phase is the moment when you first believe you can improve people’s lives with your product. You need to capture this energy and excitement to propel you towards ‘The Start Up Phase.’ Because, as Oprah Winfrey says, we should ‘Create the highest, grandest vision possible for your life, because you become what you believe.’ 💪 Realising your businesses’ potential and having that drive to make it succeed is the kind of will power that will push you through the challenges up ahead as you make your vision, your reality. Do you know what else will make those challenges ahead more manageable? If you know what is coming and the resources you need to prepare you. We’ve created a guide that breaks down each phase within the Life Cycle Of An E-Commerce Business. It prepares you for what you need to be doing to succeed in this stage and prepare for the next stage as well as letting you know how bringing an accountant in can help make this process smoother and take at least one thing off your plate! So which phase are you in? And are you prepared for what is up ahead? If not, fear not! Our guide will set you up with the basics to help you better position your business and set yourself up for success. Download here for free: https://lnkd.in/gMmdzFuF #accountingtips #ecommercebusiness #accountantsupport

As it comes into the festive season, our team wanted to share with you a little wisdom to help you enjoy the Christmas season, whilst also being up to date with your accounts when January rolls around! Finding pockets of time here and there to update your businesses finances will make a big difference once you come back to work in January. Let us know which of these gems resonate with you, and please reach out if you require support this tax season. 👇 #taxadvice #accountingtips #wordsofwisdom

We held our annual Loadie award ceremony last week (any The Office US watchers see what we did there 😏) The whole remote team got together and awards were distributed to recognise each of the team's unique skills and where they have really excelled this year! 🏆 Everyone received a small trophy for their desks along with a certificate and some goodies 😋. Some of the awards were: ➡️ Secret weapon ➡️ ‘Computer Comedian Extraordinaire ➡️ Bendy like Gumby ➡️ Remote role model ➡️ The Unsung Hero ➡️ and others….. A big well done to each and every one of the Lodestar Dream Team, and here is to an even better next year! #teamawards #teamrecognition #accountingfirm

How can the new features on Dext further streamline your bookkeeping? When we look after your bookkeeping, you will be set up onto a software called Dext which helps organise and simplify the process. This software has recently released new features which we think will dramatically improve the bookkeeping process. These new features will: ➡️ Save you even more time, ➡️ Reduce your manual errors, ➡️ Make your financial management smoother and more accurate. So what are they? 1️⃣ Upload PDF files directly via the Dext mobile app, 2️⃣ Track your mileage with ease using Dext. Watch the video to hear how you and your tax deductions can benefit from these latest features. We also have an in depth explanation over on our blog: https://lnkd.in/e3cQiB8K As always, if you need help getting started with Dext or require assistance with your general bookkeeping, we are ready to support you. #Dext #bookeepingtips #accountantadvice

Last week’s tax news that could be relevant to you 👇 ➡️ The deadline for submitting Income Tax Self Assessment (ITSA) returns brings with it a rise in scams surrounding this. ➡️ The changes to Agricultural Property Relief (APR) as mentioned in the Autumn Budget 2024 has been followed up with an article published by the government to better explain what these changes will look like in practice. ➡️ Do you run an online business? HMRC have published an online tool to help you work out if you need to declare your earnings from an online marketplace. It is important businesses stay in the know with these tax updates to ensure continued compliance with regulations and meeting deadlines. These are only a few of several updates from last week, more can be found on the ICAEW website. #taxnews #taxinsights #resourcessharing

There were lots of changes for businesses within the Autumn Budget, but what has actually remained the same? ➡️ The main rate of Corporation tax is still at 25% and appears to be capped for the duration of this parliament. ➡️ Full expensing on capital items and the £1m Annual Investment Allowance remain unchanged. ➡️ Research and Development Tax Credits rates have not been changed. ➡️ VAT rates remain the same. ➡️ Fuel Duty is frozen and the temporary 5p cut announced in March 2024 has been extended to 22 March 2026. In a world of constant financial shifts, some stability is actually good news for entrepreneurs and business owners. So take a breath😮💨, not everything from the Autumn Budget is demanding an immediate pivot from you right now! For a further breakdown of how the Autumn Budget will affect businesses, we’ve compiled everything you need to know on our latest blog: https://lnkd.in/gJBqdA5P #autumnbudget #budgetbreakdown #taxinsights