January 2010

Points to Ponder!

Welcome to our 59th newsletter issued in January 2010, to keep you up to date with some of the changes in Income tax, National Insurance and VAT along with compliance regulations for businesses, plus other oddments that have caught our eye. If you would like a copy of any past newsletters, please call and we can either send or e-mail them to you or you can find them on our website. To save paper, we shall no longer be carrying forward general items from month to month.

First, may we start by wishing everyone a Peaceful and Prosperous New Year and thank everyone for their cards and gifts.

Up to date e-mail addresses

Please may we have everyone’s up to date e-mail address? If you have changed yours in the last year, please could you send a quick e-mail to Lorraine at This email address is being protected from spambots. You need JavaScript enabled to view it. so that she can check we have the most up to date address for you? As e-mails are about the quickest method of contacting you that still produces a file copy, we are trying to make as much use of them as we can. Don’t forget we can e-mail this newsletter to you each month as well. If you would like us to do that, please e-mail Lorraine. John also puts the newsletter on to our website each month, so you can catch up with them there.

Time to Incorporate?

With the proposed increases in tax and Class 4 National Insurance, is it now time to think about becoming a limited company? Certainly incorporation involves additional costs in other areas, but the tax savings may more than compensate. In addition, the protections offered by limited liability status are significant, especially in this recession. To date, the Government has failed to legislate over income shifting arrangements where shares are held by spouses and other family members as well as by the main income generator, so there is still time to consider these options. However, we should bear in mind that we have a general election looming and whatever any party is promising now, when they are faced with the huge Government borrowing debt, they may have to take a big U-turn on their promises. If you would like a review carried out, please ask Angela but not until after the end of January!

Networking – the way to gain business?

We have been going to several networking groups recently and meeting potential clients and suppliers. Angela is becoming involved with a new branch of BNI, based in Chessington, so if you are interested, please contact her for details. We also have a presence at the Epsom branch, which is having a visitors’ day very soon. If your trade is not represented there you may have received an invitation from us so that you can see what it is all about. Also, the Federation of Small Businesses is not just a networking organisation but offers many other benefits to members, such as a legal help line and regular newsletters and magazines.

Self Assessment Deadlines

We are now in the final push, so sorry about this short newsletter – more next month.