Family businesses can be a fantastic work environment if they are run properly. However, a poorly run family business can tear a family apart. The root of a well-run family business is grounded in treating it like a business, not as an extension of the family. The following are some tips to help make running […]
Developing KPIs for Your Business
The competitive environment that businesses operate in makes it imperative to have the right systems in place in order to gauge business performance. Reporting of performance against Key Performance Indicators (KPIs) among your team will allow informed decisions to be made. KPI selection and adoption should be a considered process, with periodic refinements based on […]
CIOT welcomes child benefit rule change
An article by nickhuber recently posted on Accounting Web, may be of interest to some of our clients The Chartered Institute of Taxation (CIOT) has welcomed a government decision not to penalise parents who opt of out receiving child benefit in order to avoid a tax charge when new rules come into force […]
Business Records Checks Relaunched
The suspension is over. HM Revenue & Customs (HMRC) has relaunched its Business Records Check (BRC) initiative today. The purpose remains the same. HMRC intends to check the adequacy of business records being maintained by Small and Medium sized Enterprises (SMEs), but the process has changed. HMRC now intends to: Write to those SMEs selected […]
Tax Diary Nov/Dec 2012
1 November 2012 – Due date for Corporation Tax due for the year ended 31 January 2012. 19 November 2012 – PAYE and NIC deductions due for month ended 5 November 2012. (If you pay your tax electronically the due date is 22 November 2012.) 19 November 2012 – Filing deadline for the CIS300 monthly […]
Autumn statement 2012
The Autumn Statement 2012 will be made by the Chancellor of the Exchequer, George Osborne, on Wednesday 5 December at 12.30pm.The Statement provides an update on the Government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility. These forecasts are published alongside the Autumn Statement on 5 December. It […]
Tax return deadline approaching
The filing deadline for paper copies of your Self Assessment tax return for 2012 was 31 October 2012. If you file a paper return after this date penalties will apply. Would readers note that if we prepare your return it will be filed electronically, the deadline for electronic filing of 2012 Self Assessment returns is […]
Higher paid and Child Benefit
Higher paid and Child Benefit From January 2013 a person who earns more than £50,000 must advise HMRC if they receive Child Benefit personally, or if they are the higher earner of a couple where their partner receives Child Benefit. If you fall into this category you may be receiving a letter soon from HMRC […]
Workplace pension reform
All employers need to be aware of their responsibilities following the introduction of pension reforms. Some elements of this new legislation, such as the safeguards for individuals, came into effect for all employers from 1 July 2012. The Pensions Regulator has issued “Getting Ready” notes for employers and this can be downloaded as a PDF […]