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News - 1 November 2012

November 2012 NewsLetter

Welcome to the November 2012 ABDS newsletter designed to keep you informed of the latest Accounts, Tax and Business issues. We hope you enjoy reading the newsletter. We are here to help you so please contact us if you need further information on any financial topics such as: Audit, Accounts, Bookkeeping, Vat, Payroll, Tax planning returns and compliance and Business Strategy, including planning, coaching and mentoring. We are acquiring new clients who are interested in strategy for growth and selling their business at retirement so please do not hesitate to call us and discuss how we can assist you.
Also don’t forget Monthly Management Accounts if you don’t have these you do not know how you are trading and after the year end it is too late to do anything about it.

Tax and business planning have to happen before the end of the financial year.

Accountants for Business Development and Solution can cater for all your financial and business needs. In this edition we are looking at:

  • Changes to Audit Exemptions
  • Real Time Information (RTI) – six months to go
  • What is GDP?
  • Many Free schools “significantly under subscribed”
  • NHS must focus on the elderly
  • Record level of private sector business in UK and
  • Are care home ratings accurate?

As part of our regular features we introduce you to one of our team members, this month it is our Audit Director and Head of Schools and Charities, Peter Ham. This month’s fact sheet is Management and Business Consultancy. To request a copy Contact us now.  We conclude, as usual, with an accountancy joke supplied by our resident comedian David Nelson.


Changes to Audit Exemptions

There are to be some significant changes to audit exemptions coming into effect on 1 October 2012. The Consultation on Audit Exemptions and Change of Accounting Framework confirmed that a set of new rules was to be introduced in respect of audit exemption for companies and LLPs………….
To continue

Real Time Information (RTI) – six months to go

HM Revenue & Customs (HMRC) is kicking off its Real Time Information (RTI) awareness campaign this month. This includes writing to over 1.4 million employers. The letters will provide information on what employers need to do to prepare for the new way of reporting PAYE data starting in April 2013………….
To continue

Labour Party plans to end elitism in education

In his big set-piece speech at the Labour Party conference, Ed Miliband launched a crusade to tackle youth unemployment including plans for a new technical qualification for 18-year-olds……….
To continue

What is GDP?

In our continuing series of articles which tries to explain in plain English the meaning of financial and economic phrases and statements, we focus this time on GDP.
Lavinia Newman, Founder of ABDS gives a concise definition……….
To continue

Many Free schools “significantly under subscribed”

Fifty five new schools opened this September, bringing the total to 79, and according to figures obtained by the BBC, a quarter of them are significantly under subscribed…………
To continue

NHS must focus on the elderly

At the Conservative Party Conference, the Health Secretary Jeremy Hunt said that NHS staff must become the "best in the world" at looking after the elderly and that it was time to change the culture of the organisation…………….
To continue

Record level of private sector business in UK

Official figures published on Wednesday 17 October by the Department for Business, Innovation and Skills (BIS) show that the number of private sector businesses in the UK increased to record level of 4.8 million at the start of 2012……………
To continue

Are care home ratings accurate?

Care regulator the Care Quality Commission (CQC) stopped issuing its own star ratings in 2010 and now some homes pay independent ratings companies and consultants to assess them instead……….
To continue

Articles from the ABDS October Newsletter (click to open)
 

The spotlight this month falls on Peter Ham

Peter Ham BSc FCA CTA
Audit Director and Head of Schools and Charities

Peter Ham trained with Deloitte Haskins & Sells and qualified as FCA, CTA and with a practising certificate. He prepared the accounts, audit and tax of branches and subsidiaries of public companies and owner managed businesses in an audit department for eight years followed by five years in the general practice department which also included partnerships and charities. Subsequently he moved to the corporate tax department for three years.

Clients included engineering, yarn spinners, builders and advertising agency companies and architects and solicitors partnerships.

Following a move to a member firm of the UK 200 Group for thirteen years he continued  with owner managed businesses involving accounts, audits and corporate tax of engineering and vehicle franchise groups of companies with turnovers of up to £137M and 900 employees as well as charities, pension fund accounts, distributors, and an hotel.

More recently, with a member firm of the HAT Group of accountants for five years he did accounts, audits and tax of 20 plus workingmen’s clubs a year and also engineering, retailers and other entrepreneurs and also personal tax.

He says that clients:
 
• Prefer prompt information;
• Seek reassurance that their financial thoughts are correct; and
• Wish to minimize their tax liabilities.

If you would like advice on any of the above issues, please call Peter to arrange a meeting so that he can gain a clear understanding of the scope and deadlines of your requirements. You will find Peter not only approachable, but extremely knowledgeable especially in the Education, Charities and Not-for-profit sectors.


As promised we conclude with this month’s joke supplied by our resident comedian David Nelson.

An accountant goes to the doctors. “Hello doctor”, he says, “Please help. I just don’t know what’s wrong with me.” Then he abruptly leaves.

30 seconds later, “Hello doctor, please help. I just don’t know what’s wrong with me.”
Doctor responds. Mmmmm, sounds to me like a serious case of double entry!.....

Kind regards

Lavinia and the team


Tel: 023 8083 6900
Email: ABDS@netaccountants.net


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