Points to Ponder!

JSA NEWS

Up in the cloud! Our transition to cloud hosting for all our IT is now complete and, touch wood, all seems right with the world. Due to a major effort from everyone here we have managed to catch up the roughly 150 working hours we lost to computer problems.

This is the very last time we are going to put in 15 hour days in January because records are not brought in until late in December and January. In fact, one or two will have to pay the £100 fine as their accounts just cannot be finalised in time, despite the 2 day extension due to strike action by HMRC staff.

The other down-side of late-submitted returns is that these are flagged up by HMRC and are more likely to attract an enquiry. As we have warned before now, enquiries take more time to sort out than the accounts did in the first place and usually result in a tax assessment, plus penalties and interest and a bill for our time in trying to sort things out. Still, that’s the January 31^st lecture over for another year!!

HMRC NEWS

Business records check

Not registered for VAT – this affects you - VAT registration amnesty ends

HMRC has announced that following the initiative to persuade businesses that should have registered for VAT to do so by 31^st December 2011 and avoid penalties, they will now start investigating non-registered businesses. If your turnover is over £60,000 then please contact us so that we can help you monitor it.

Did you receive a letter from HMRC last year, suggesting you should be registered? If so, you will be checked if you haven’t registered. The full version of this article can be found here.

VAT on line

Very soon all VAT returns and payments must be made on line. The best payment method is direct debit, which we can help you set up. The payment is then guaranteed to arrive on time, subject to sufficient funds being available in your account of course, and there is at least an extra 10 days allowed before payment is taken from the account. Providing we are fully registered as your agents for VAT and we have the authorisation codes, we can submit all this through our TASBooks book-keeping programme at the touch of a button – or a few computer keyboard taps!

EMPLOYMENT

Taking on an employee

Often believed to be more difficult than it is. One of our other local MP’s, Chris Grayling of Epsom and Ewell, is responsible for the “off benefits and back to work” campaign and as part of that is launching “The Job Club – Pathway to Employment” at Nescot so Sue can report on that next month. Read it all here...

Apprenticeships

The government is offering new apprenticeship incentives. Employers with up to 50 staff can receive an incentive payment, which we believe is tax-free, to take on an apprentice aged 16 to 24, who can expect to earn on average £170 net per week. Traditionally apprenticeships were offered in construction, engineering and related manufacturing, but the scheme extends to IT and other office-based training.

FSB NEWS

Pension Road Show

We know Sue is still on her soapbox about this but it is going to happen and it will cost you money. The FSB now has a pension provider in competition to the Government’s NEST scheme. The FSB scheme will be underwritten by Scottish Widows. There will be a series of Road Show presentations in the Surrey and Sussex areas, hosted by the FSB and Scottish Widows, so we shall try and let you all have details of when these events will happen. As she has been so vociferous about the compulsory enrolment pension regulations, Sue is going to have to help introduce all these meetings! The first is expected to be at Imber Court some time in April so watch this space. These meetings are free and open to non-FSB members, but the Scottish Widows enrolment is restricted to the FSB.

The Federation of Small Businesses is launching its

“Real Life Entrepreneurs”

scheme this month to try and raise the profile of small businesses and encourage more co-operation between businesses, government and financial institutions. It is also hoping to encourage mutual support between businesses to swop ideas and services, including mentoring for start ups.

On a totally different theme, the FSB is also supporting the Women’s Wheelchair Basketball Team at the 2012 Paralympics so let’s hope they go for gold.

SCAMS

Telephone scam – this isn’t really Microsoft calling. We all experience odd hiccups on computers and get a message suggesting we pass it on to Microsoft and most users don’t bother. An overseas call-centre has cottoned on to this and very plausibly introduces itself as the Microsoft help desk and asks if they can help to clear up the problem. The computer user is directed to a report on their PC that lists the problems encountered and the caller offers to clear everything up – free of charge of course. All they want is control of the PC briefly. DON’T BE FOOLED. Access to your PC can reveal all your financial details including your account passwords and your money can be lifted before the call is terminated. Never give access to anyone you don’t know. This may sound obvious but the callers are extremely well trained.

AND FINALLY

And finally – a competition – name that phobia! Several of our clients who bring records in late say they have a paperwork phobia but there doesn’t appear to be an agreed name for this on Google, A fear of dentists (Sue’s main phobia) is dentophobia and a fear of not getting things done on time is omophobia but can we give this excuse an official title? Once it’s named, perhaps it can be treated! As you may perhaps guess, light-headedness is setting in again after the dreaded pressure of Self Assessment deadlines – now that should have a phobia name, all of its own!