News

STAFF NEWS

We have had a number of staff changes over the last couple of months.

Firstly, we are sorry to report that Nicola Rowland has recently left us, and she has moved to a firm nearer to her home. Nicola has served us loyally over the last five years, and qualified as a Chartered Certified Accountant whilst with us. We are extremely sad to be losing her, but undoubtedly her move will benefit her career. Nicola's responsibilities have been shared out amongst Debbie Nelson-Gracie, Deanna Purse, Tina Wallace and Jaymie Ross.

After a long illness, Lizzie White has also left, but we are pleased to announce that David Yeo joined us on 1 June. David is a graduate from the University of East Anglia, and will be working on the accounts and bookkeeping side of the business.

We also have changes on the bookkeeping and payroll side. As many clients know, Erica Smith will be leaving us at the end of July to pursue a career in teaching. Erica has been working part time since last year, and is now completing her initial teacher training courses. She will be moving back to her home town of Bolton to embark on a full time degree course. Erica has worked for us for many years, and will be greatly missed by staff and clients alike. We wish her every success in her new career.

We are pleased to announce that we have engaged the services of Abacus Bookkeeping (UK) Limited to help look after bookkeeping and payroll services. Director, Vince Mulhern, will generally be at our offices on Monday, Thursday and Friday, and he will be assisted by his own staff, and by our team as necessary. Vince has many years of experience dealing with bookkeeping and wages, and we are looking forward to working closely with him and his team.

Unfortunately the recent changes have impacted on our workload, but we are now starting to process the backlog. We would ask clients to be patient, particularly with regard to accounts preparation. Naturally, we are prioritising those accounts with statutory deadlines.

GENERAL NEWS

BUDGET NEWS

We have pleasure in releasing a summary of the latest emergency budget announcements. The most significant changes were made to Capital Gains Tax, business tax and VAT. Please let us know if you need any more specific advice on these topics.

TAX MATTERS

As usual there are a number of other topical tax points to note:

Employers need to file forms P11D by 6 July to avoid any risk of penalties. We have already contacted all clients affected.
For those required to make payments on account for 2009/10 (normally those who are self employed, or who have other substantial untaxed income), please remember that the second payment is due on 31 July 2010.
Please remember that VAT returns now need to be filed on-line, unless your turnover is less than £100,000 per annum. Electronic filing also means that you can obtain extra time to pay the VAT liability. Again, if you cannot file on-line, speak to us as soon as possible.
PAYE/NIC liabilities now have to be paid on time during the year, otherwise interest is automatically charged. Cleared funds must reach H M Revenue & Customs by 19th of the month following the end of each PAYE month or quarter for which deductions are due. Alternatively you can pay electronically by 22nd of the month.

INSURANCE

Whilst we cannot arrange insurance directly for our clients, we have recently advised on the following:

Officers and directors can now be prosecuted for offences such as corporate manslaughter and can be held personally liable for certain offences committed by their companies or organisations. Whilst one cannot protect against any civil or criminal penalties, it is worth considering insurance that will fund legal costs to mount a defence in the event of prosecution.
Identity theft is becoming increasingly common - insurance is available to cover the costs of recovering your identity, and/or that of your company.
Tax investigations can be costly, particularly in terms of our fees, even if nothing is found to be wrong. Again, one cannot insure against any eventual tax payment, interest or penalties, but our fees can be met out of appropriate insurance.

If you would like any further information on these types of insurance, please do not hesitate to contact us, and we can recommend a suitable insurance broker who specialises in these types of policy.

TOPICAL POINTS

For Companies and Businesses

IDENTITY THEFT

This is now becoming more prevalent and full details of a new system to protect Limited Companies is shown on the this page. Additionally, we are happy to recommend a local insurance broker who is offering an identity theft insurance policy. If you have any concerns about this area, please contact us.

COMPANIES ACT 2006

This legislation is now fully in force (from 1 October 2009) and have a separate summary of the main changes. This will be of interest to all company directors, but if this is not relevant to you, please pass it on to anyone you know who might be interested. Like all businesses, we value recommendations from our clients and contacts, and we are always keen to take on new business.

For specific advice on any of the matters above, please contact David Meredith, Andy Wilson, Carolyn Gore and Debbie Nelson-Gracie on 01580 765088