Preparing for the end of the financial year
The end of another financial year is fast approaching and with that in mind we’ve put together our top tips to ensure you are ready… Top tip # 1 Get your records ready. Whilst most of the information will be in Xero we do require some items from you: Top tip # 2 Don’t forget […]
Setting up the right legal and financial foundations
So, you’ve got the idea and the business plan ready to roll. But what are the main legal and financial areas you need in place to keep your new business compliant? Whether it’s registering as a limited company, or setting up an accounting system that meets the latest digital requirements, it’s important to get the […]
Understanding Tax: Use of Money Interest (UOMI)
Last time on our blog we discussed Terminal and Provisional tax. The fun is not yet over… this week we thought we might tackle Use of Money Interest, or for short, UOMI. So what is UOMI? Use of money interest is the IRD charging you interest on the tax you have underpaid, effectively trying to discourage […]
Understanding Tax: Terminal vs. Provisional
Tax. It’s the dirty word all business owners flinch at. Newcomers stress about that second year hit, and everyone winces when the lump sums leave their bank accounts. But how many business owners understand tax? And how many newcomers know what to expect? We thought we’d put together a blog breaking down some of the […]
Tax Tips with MHCo – Part 2 Entertainment.
Welcome to the second installment in our five-part series – tax tips with MHCo. This series is aimed at small to medium businesses and is designed to increase understanding around some key tax topics that we often get asked about as well as educating businesses on a few common areas where they may be missing […]
Tax Tips with MHCo Part 1 – Claiming Home Office
Introduction What is ‘entertainment’? Can you make a claim for your home office? Welcome to the first instalment in our five-part series – tax tips with MHCo. The end of financial year (31 March 2016) has now come and gone and with that many business across New Zealand will be readying themselves for another round […]