11 April 2024
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Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you.

BOOK REVIEW What is Jenny reading in April? ….

The book discusses the Tactics, routines and habits of Billionaires, Icons and World Class Performers

Tim Ferriss over a two-year period interviewed more than 200 world class performers ranging from icons such as Arnold Schwarzenegger to professional athletes, business gurus, to Special Operations Commanders covering all industries, backgrounds, and lifestyles.

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The book delves into personal health, wisdom and wealth strategies and philosophies of these Titan’s. In Ferriss’ words, the book is a “compendium of recipes for high-performance “when he is feeling struck, trapped, conflicted or simply unclear its somewhere to look for inspiration and wisdom.

Whilst it is a very large book, nearly 700 pages, it’s easy to dip in and out of, when you need some guidance or a different viewpoint, it’s like having the best of best on tap to give their unique and valuable insights especially when you need a quick dose of inspiration or practical strategy. It’s not a book to read from cover to cover but to use more of a reference guide.

The book extracts useful, inspiring, and motivating tools and techniques from people who are at the top of their specific field for us all to use to help us push ourselves and our business forward.

For example billionaire Peter Thiel’s question that he asks of himself and others is that “ if you have a 10 year plan of how to get somewhere, you should ask yourself – Why can’t you do this in just 6 months?”

It was fascinating to find that there are quite a few common themes across the interviewees, the majority have some form of daily meditation or mindfulness practice, and all believe that failure is NOT durable.

So start thinking like a Titan!

5 TIPS FOR MAKING A MORE SUSTAINABLE BUSINESS

We live in a world in which sustainability has become a necessity. As businesses strive to reduce their environmental impact to help to protect the planet and contribute positively to society, integrating sustainable practices has become crucial.

Not only does this help to contribute to an environmentally friendly world, but it also enhances the reputation of your brand, attracts eco-conscious customers, and can even lead to long term cost savings.

So, if you’re looking to make your business more sustainable, here are just five fantastic tips to help you get started.

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1 Embrace Renewable Energy

One great way to reduce your business’s carbon footprint is to use renewable energy sources. Investing in features such as solar panels can significantly decrease your reliance on fossil fuels, thus lowering greenhouse gas emissions.

 

Alternatively, if this is out of your budget, consider switching to energy suppliers such as Octopus Energy who pride themselves on their green energy sources.

 

By harnessing clean energy, not only will you contribute to the protection of the planet, but you also help to reduce your reliance on expensive power sources.

 

2 Prioritise a Sustainable Supply Chain

Assessing your supply chain for sustainability is essential for reducing your business’s overall environmental footprint.

 

Try to only work with suppliers who share your commitment to sustainability and prioritise ethically sourced materials and products.

 

When you implement transparent supply chain practices, you’ll also start to build trust with environmentally conscious consumers who seek brands who can prove that they’re committed to ethical sourcing practices.

 

3 Invest in Energy Saving Upgrades

When looking to improve your businesses sustainability and reduce your bills, you should consider environmentally friendly upgrades to your commercial premises.

 

A great change that you can make, if you haven’t already done so, is to upgrade your windows to double or triple glazing, as this will help to keep the heat in and the cold out.

 

And, if you’re also looking to make savings in the summer months too, consider consulting with experts such as Halifax Glass on solutions such as solar control windows. This innovation is a great way to keep your office space cool and reduce your reliance on air-conditioning.

 

4 Encourage Sustainable Practices

Regardless of the changes that you make to your business, your employees still play a crucial part in driving sustainability.

 

Encourage sustainable behaviours such as reducing paper usage as a company, using public transportation to get to work, and reducing energy consumption in the workplace.

 

If you’re looking to educate not only yourself but your employees, consider starting with the resources provided by Recycle Now to ensure everyone at your brand understands what can and can’t be recycled and how to do it.

 

5 Measure and Communicate Your Impact

Finally, week seeking to improve your sustainability as a business, it’s essential to measure and track your performance.

 

By setting specific, measurable targets you’ll be able to monitor progress over time and make changes where needed.

 

As your sustainability improves, showcase your efforts as this can help to draw in environmentally conscious consumers and give your brand an added boost on the path to success and profitability.

 

Have you found ways to improve the environmental impact of your brand?

Team Talk

TEAM SUCCESS – CONGRATULATIONS CHARLOTTE.

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Charlotte is celebrating her 5-year anniversary at Maple. A few words from Charlotte…

“The invaluable support from everyone throughout my 5 years at Maple has been instrumental in my personal and professional development leading me to where I am today. I work with a great team of people and great clients which makes all the difference”.

DERBYSHIRE LIFE WOMEN IN BUSINESS

 

Sara and Jenny had a wonderful afternoon attending the Derbyshire Life Women in Business event at Morley Hayes in March, alongside some of Derbyshire’s finest businesswomen and an inspirational guest speaker Theresa Peltier, High Sherrif of Derbyshire.

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EMPLOYEE OF THE MONTH – NATHAN MOLE

Nathan has been an excellent support to Jay this month, preparing a great quality set of bespoke KPI reports with several unusual and higher-level aspects to this job that were new to Nathan. Nathan also did an excellent job in resolving an especially challenging VAT reconciliation & picked up a number of urgent client queries & demands when his Client Manager was overrun with work.
Keep up the good work Nathan!

Bank of England keeps interest rate at 5.25%.

The Bank of England has left interest rates frozen at 5.25% for the sixth month in a row and expects inflation to fall below 2% by June.

This month the vote was more stable with eight members of the monetary policy committee voting to hold rates, with only one calling for a 0.25% cut. Last month three broke ranks with two voting for a rise.

Despite signs that inflation is heading closer to the Bank’s 2% target, there are no signs yet of any loosening of monetary policy.

On a more positive note, it estimated that the fiscal measures announced in the Budget earlier this month would increase GDP by a nominal 0.25%.

The Bank also had to revise its CPI inflation target, now saying that it is projected to fall to slightly below the 2% target by June 2024, putting pressure on the Bank to take a less hawkish view on interest rates. However, it expects inflation to go back up in the second half of the year as a result of higher energy prices.

Kaley Crossthwaite, partner at BDO, said: ‘Despite inflation set to hit the Bank of England’s 2% target by May, the decision to hold rates shows that it’s not yet mission accomplished when it comes to rising prices.

‘UK businesses are crying out for some relief. A fifth of mid-sized businesses believe the cost of borrowing will be one of their top challenges over the next six months, but there should soon be some welcome light at the end of the tunnel. If indicators continue in the right direction an initial rate cut in the summer looks inevitable, with further cuts expected later in the year.’

IMPORTANT DATES AND UPCOMING CHANGES – 2024

1 May

  • Corporation tax due for accounting periods ended 31 July 2023 where not payable by instalments.
  • New VAT fuel scale charge rate for VAT periods beginning on or after this date

 

3 May

  • P46 (car) forms due for the quarter ended 5 April (where benefits not payrolled)

 

5 May

  • Employment intermediary reports due for quarter ended 5 April.  
  • Deadline for amending employment intermediary reports for quarter ended 5 January.  
  • VAT payments due for month or quarter ended 31 March 

 

14 May

  • Corporation tax instalment payments due for large companies as follows:
    • Year ended 31 January 2024 – instalment 4
    • Year ended 30 April 2024 – instalment 3
    • Year ended 31 July 2024 – instalment 2
    • Year ended 31 October 2024 – instalment 1
    • Corporation tax instalment payments due for very large companies as follows:
    • Year ended 31 May 2024 – instalment 4
    • Year ended 31 August 2024 – instalment 3
    • Year ended 30 November 2024 – instalment 2
    • Year ended 28 February 2025 – instalment 1
  • CT61 returns and payments due for quarter ended 31 March.

 

17 May

  • PAYE, NICs, student loan deductions and CIS deductions due for month ended 5 May paid non electronically

 

19 May

  • CIS returns due for month ended 5 May.
  • EPS due for month ended 5 May so HMRC can apply a reduction on what is owed from FPS.

 

22 May

  • PAYE, NICs, student loan deductions and CIS deductions due for month ended 5 May paid electronically

 

30 April

  • Deadline for employers to give employees P60s for 2023–24.
  • Deadline for employers to give relevant employees details of payrolled benefits for 2023–24.
  • Corporation tax return due for accounting periods ended 31 May 2023
  • Deadline for amending corporation tax returns for accounting periods ended 31 May 2022
  • Inheritance tax due for deaths in November 2023

Maple Accountancy is a firm of expert Business Advisors offering accountancy services, tax and business advice to owner-managed and family-owned businesses.

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020 7127 0649

Contact

Maple Accountancy Ltd.

Carter House, Wyvern Court, ​Stanier Way, ​Wyvern Business Park, Derby. DE21 6BF

01332 207336
success@maple.uk.com

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