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Chartered Accountants

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

Crowdfunding business dreams

Posted on Apr 4, 2017 by editor

Crowdfunding can provide a platform for struggling start-ups to raise capital or businesses trying to get ahead with an injection of cash into a new project.

Although crowdfunding is still in its relatively early stages; it is rapidly gaining momentum. There has been a boost in crowdfunding due to the increase in the level of professionalism, ease of use and ability to access.

Crowdfunding describes the collective effort of individuals who network and pool their resources, usually via the internet, to support efforts initiated by other people or organisations. It allows an interested party to invest in an idea that they find inspiring.

Businesses also can offer perks in exchange for contributions, such as a discounted price of a product once it is developed. Crowdfunding has been used in support of a variety of efforts, including disaster relief, startup company funding and inventions and software development.

There are, however, terms and conditions of the projects listed on some crowdfunding websites. Kickstarter is an all-or-nothing platform, in that it only delivers the business the money if the project’s target is met. Sites such as Indiegogo will pay the business their money if targets are not met, though do charge higher fees.

To receive crowdfunding for a project businesses should consider: 

We have been with BDS Hughes Accountants nearly 5 years. Without their knowledge and forthright suggestions we would not been able to experience our high level of success. We are comfortable with the working relationship and ease with which they are able to communicate with us. As we as the normal accountancy service, Garry advised us on Xero accounting and taught us to uses the program in plain simple English. We can say only that we have had nothing but exceptional service and the advise we have received has been correct and perfect for our business, which is why i would not hesitate to recommend their services.
Wendy EvansDirectorThe Roof & Brick Shoppe

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Claiming expenses on work-related trips

Posted on December 21, 2017 by BDS Hughes

When travelling for business or paying for employee travel there are many daily expenses that can be claimed. Generally, you can claim for flights, taxis (or mileage if you use your own car), accommodation, meals and snacks when you are away from home on business travel. For work-related meetings, conferences or training courses that require an overnight stay, employers can claim the cost of accommodation. If an employee is working away from home for an extended period, you can claim for accommodation or any accommodation allowance paid providing it is for a period of no more than two years (or […]

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