Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Handy tips to prevent personal loan rejection

Posted on Jul 19, 2018 by admin

When applying for a personal loan, it is essential to do everything feasible to improve your probability of getting approved. Receiving just one knockback for a loan will be recorded on your credit file and may make it just that little bit harder to get approved for finance in the future. While there is no sure way of knowing you will be approved, there are specific requirements you should ensure you meet before putting forth your application. You have a good credit history Having a history of bad credit is a sure way to have your loan rejected. It is […]

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Bad business habits

Posted on Jul 13, 2018 by admin

When you run your own business, it can be hard to step back and look at the big picture. Failing to do so, however, not only harms your business; it can also make it even harder to sell. Whether it is failing to track cash flow or not investing correctly in key staff, there are many bad habits that business owners commonly make. Here are the top three: Using the business as your personal ATM A common business tax-minimisation strategy is to spend business earnings on personal expenses that are not directly related to the business. The idea behind this […]

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How to spot a phishing scam

Posted on Jul 5, 2018 by admin

Falling for a phishing scam is often easy. You receive an email or a text message from your bank asking you to click on a link and verify your account details for a security check or maintenance upgrade, and before you know it you have given a scammer access to your bank account. The purpose of a phishing scam is to persuade you into clicking on their link, which will take you to a site that looks exactly like your bank’s website, so from a first glance their email/ text message and link will look very authentic. However, you can […]

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Boost your business’ cash flow

Posted on Jun 28, 2018 by admin

Managing cash flow is the golden rule for most small business success. Too many small businesses fail due to poor cash flow management. To avoid getting your business into trouble, consider the following tips: Prepare a cash flow projection – Cash receipts, including income from sales and income from financingcash disbursements, including all expenses (cost of goods, operating expenses, loan payments, income tax payments, etc.). – Net cash flow — opening cash balance plus receipts, minus disbursements. – Ending cash balance. Review discretionary spending Any items that are not essential to current operations can be deferred or eliminated. Such expenditures […]

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Reducing your winter bills

Posted on Jun 15, 2018 by admin

When the winter season commences, you might notice a spike in your bills. Although, it is no surprise that additional heating and hot water adds up, you may be surprised at how you can reduce these costs with minimal effort. Consider the following tips to reduce your winter bills and lessen your environmental impact: Heating and electricity Instead of turning up the dial on your heating, look to other ways of heating up without using gas or electricity. Simple changes such as dressing warmly, closing the doors of the rooms you are not using and using a door snake can […]

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Financial checklist before you die

Posted on May 30, 2018 by admin

While preparing for a time when you are gone can be morbid, sorting out your financial matters now will help to protect your loved ones later on. Take a look at these considerations. Do you have an up-to-date Will? Make sure you have a valid and current Will in place. A Will clarifies how you wish your estate to be distributed and should be updated to reflect your current circumstances. Are your documents in a safe and secure place? Gather your important financial documents and store them in a secure file. Make sure the executor handling your estate will access […]

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How to spot a fake loan

Posted on May 17, 2018 by admin

When shopping around for a personal loan, it is wise to be conscious of any potential scammers that may try and offer you a deal that sounds too good to be true. Though a loan may look legitimate from a first glance, there are various tell-tale signs to watch out for to spot a fraudulent loan. When applying for a loan, be wary if your lender: – does not evaluate your credit report before approving your loan – calls or emails you to advise that you are a candidate for a loan – asks for an initial fee to be […]

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Finance tips for first-time entrepreneurs

Posted on May 11, 2018 by admin

Starting a new business is a big commitment. There are many financial factors a first-time entrepreneur must consider if they are aiming to create a long-term business. Check your personal credit score Funding a new business will depend upon what state your personal credit score is in. A low credit score may stop you from acquiring a business loan. Banks assess an individual’s credit history to help determine whether they could be a good or bad investment. Set short-term financial goals Long-term goals are vague and take considerable time and hard work to accomplish. The most effective way to realise […]

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5 Spending habits to break

Posted on May 3, 2018 by admin

Our spending habits play a fundamental role in determining how well we can save our money. If you wish to save more efficiently, it is important to recognise a bad spending habit when it occurs. Watch out for these 5 common spending habits. Eating Out Dining in restaurants or grabbing take away most nights in the week is a good way to deplete your finances. Save money by eating out one or two nights and cooking the rest of your meals in bulk at home. Impulse Buying Purchasing items without a second thought is an easy way to lose money. […]

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Should you use a personal loan?

Posted on Apr 18, 2018 by admin

A personal loan can come in handy if you need some extra cash to fund a purchase, but it may not always be your best option. Before you sign away, you will need to understand how personal loans work and if they are appropriate for your circumstances. A personal loan is when a person borrows a set amount of money over a time period, along with interest, fees and charges from a credit provider. There are generally two types of loans: secured and unsecured. Secured loans are secured by an asset, i.e., a car or home, in the case you […]

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For many years now Garry Hughes of BDS Hughes Chartered Accountancy and his team have provided us with an exceptional professional service. We have found Garry‘s knowledge in his field of taxation, business planning and financial matters of great value to us, along with providing us additional recommendations for improving our business strategies. We would recommend their friendly and professional services to anyone who is looking for an accountancy service that will improve their business performance.
Jane HandleyDirector Rug Doctor

Latest news

Introduction of Best Start

Posted on July 5, 2018 by BDS Hughes

From 1 July 2018, eligible parents who have a baby born on or after 1 July 2018 will receive a Best Start payment of $60 per child. Eligible individuals will receive $60 a week until the baby turns one regardless of household income. For those with a household income of less than $79,000, you will receive $60 a week until the child turns three. The eligibility requirements are as follows: – You must be the principal caregiver of the child – You must be a New Zealand resident or citizen and have been in New Zealand for a continuous period […]

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