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Member Update - August 2018
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Celebrating exceptional people in our industry
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We are delighted to announce entries for the IAB Awards 2018 are open.
Entries close on 26th October and shortlisted individuals or businesses will be invited to interviews either in person or via Skype during the week commencing 5th November.
This year individuals and businesses can enter themselves and there are a number of categories to choose from.
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Find out more >
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Keep up to date by attending the IAB’s latest seminars
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Book onto one of the IAB seminars covering a range of topics including: Making Tax Digital, tax and payroll updates, automatic enrolment and much more!
Taking place in Bristol on Thursday 18th October and London on Thursday 1st November 2018 this is an excellent opportunity to get updates for your own business and your clients or the business you are employed by.
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Property income allowance gives £1,000 tax relief
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Property owners who receive an income from rent could be missing out on a recently introduced tax-free allowance potentially worth hundreds of pounds provided they have low rental income.
Taxpayers can claim the property income allowance, which came into effect in April last year, giving the property owner £1,000 of tax relief on their rental income, provided they have few or no expenses.
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Time to declare offshore assets
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HMRC is urging UK taxpayers to come forward and declare any foreign income or profits on offshore assets before 30 September to avoid higher tax penalties.
New legislation, called ‘Requirement to Correct’, requires UK taxpayers to notify HMRC about any offshore tax liabilities relating to UK income tax, capital gains tax or inheritance tax.
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Intuit QuickBooks goes live with HSBC Direct Bank Feed
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Intuit has announced the availability of a direct bank feed to save time for HSBC UK Business Internet Banking customers. QuickBooks subscribers in the UK can now automatically import transactions from their HSBC account directly, and at no extra charge, to QuickBooks.
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The Word from Sarah: Create a bookkeeping business model
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In her regular feature, Sarah Palmer tackles the issues that matter.
When you start your bookkeeping business you tend to say yes to everyone. You don’t consider if they are the right fit, in your target market or someone you can do your best work with.
If you’re good at what you do and have the right marketing strategies in place, your books will fill up soon enough. But if you haven’t been discerning you’ll find yourself with a business model that’s filled with ‘rats and mice’ clients who gnaw and gnaw at you. If you can relate to that perhaps it’s time for a shake-up to create a model you love.
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IAB member, Alison Edward, shortlisted in the Heropreneurs Awards
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Alison Edward MIAB, owner of Hampshire based Simply Balanced solutions Ltd, has been chosen as a finalist in the Heropreneurs Awards for the Military Partner in Business category.
This award recognises the unique challenges faced by the partners of service personnel to adapt to the postings, relocations, and deployments of their loved ones, and the difficulty in running a new business or organisation in the face of such disruption and uncertainty.
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IAB Privileges: Free 3 month digital tastecard membership
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Enjoy 2 for 1 meals or 50% off food at over +6,000 restaurants including PizzaExpress, Prezzo, Zizzi’s, Strada and more. To enjoy your free 3 month digital membership, take advantage of this offer before 31st August.*
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© 2007-2018 International Association of Bookkeepers
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*Terms and conditions apply. See website for details. Full terms and conditions for tastecard can be found here https://www.tastecard.co.uk/terms-and-conditions. IAB Privileges is managed and run on behalf of IAB by Parliament Hill Ltd.
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