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News - 1 February 2013

February 2013 NewsLetter

Welcome to the February 2013 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.


If you are late in completing and submitting your tax return, even if there is no tax to pay, you will be subject to a £100.00 penalty. To prevent any further escalation in charges, contact the TAX Team at ABDS immediately for help and assistance.

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

  • Transparent Funding Formula for schools
  • Are you ready for GAAP?
  • HMRC: The VAT Outstanding Returns campaign
  • HMRC investigation results in nine years imprisonment
  • A Paperless NHS would save billions
  • HMRC recruits new members to the affluent unit.
  • Under-performing areas are to be targeted by OFSTED.
  • Universal Credit and Small Businesses
  • Cameron Targets Tax Avoidance at Davos


As part of our regular features we introduce you to one of our team members, this month it is our very own Founder and Principal, Lavinia Newman

This month’s fact sheet is Annual Tax and Business Healthcheck.
To request a copy Contact us now

And we will conclude, as usual, with Joke from our resident comedian David Nelson.

Transparent Funding Formula for schools

Following a consultation, the Government has confirmed arrangements for the new Education Services Grant - funding for local authorities and academies for education services for 2013-14………. To continue


Are you ready for GAAP?

The Financial Reporting Council (FRC) recently issued changes to the UK financial reporting framework which represents a new challenge for all entities currently reporting under UK or Irish GAAP………..To continue


HMRC: The VAT Outstanding Returns campaign
As many as 50,000 businesses that have failed to submit VAT returns will be targeted by HM Revenue and Customs (HMRC) with warnings that their tax affairs will be closely scrutinised…………To Continue

HMRC investigation results in nine years imprisonment

Following into an investigation by HMRC a DJ from Dundee has been found guilty of tax evasion and money laundering, linked to a complex mobile phone trading scam…………. To continue


A Paperless NHS would save billions

Health Secretary Jeremy Hunt wants the NHS to be paperless by 2018 - a move a report says could help save the health service billions of pounds a year………….. To continue


HMRC recruits new members to the affluent unit.

The Affluent Compliance Team, to ensure the better off play by the rules, is expanding by 100 inspectors as their work expands. The scope of the unit will now take in taxpayers with an income of £150,000 and wealth of between £1 million and £20 million………….To continue


Under-performing areas are to be targeted by OFSTED.

Inspections will be brought forward in six regions following a statement by Chief inspector Sir Michael Wilshaw in which he stated that the performance gap between some areas is "completely unacceptable"………
To continue


Universal Credit and Small Businesses

HMRC’s welfare responsibilities are to be moved back to the Department for Work and Pensions (DWP). With this move, the need for small businesses to seek advice from qualified accountants and tax advisors will become more important…………To continue


Cameron Targets Tax Avoidance at Davos

David Cameron will call for greater international cooperation to crack down on tax evasion in a speech to the World Economic Forum. The Prime Minister will urge world leaders to work together to tackle problems with evasion and avoidance which allow multinational companies and the super-rich to keep their tax bills down……….To continue


Articles from the previous ABDS Newsletter (click to open).
 


The spotlight this month falls on

LAVINIA NEWMAN           
FOUNDER AND PRINCIPAL
     
Lavinia founded ABDS in 1987, and it is now one of Hampshire’s leading experts on the accounting and business development issues of small and growing, owner-managed businesses.

With Lavinia’s knowledge and background, she is able to bring a wealth of commercial experience and understanding to the firm’s clients and she is able to offer advice across a wide number of Hampshire’s industry sectors. She also has an understanding of international issues, and currently acts for clients in France, Canada and Poland.

Lavinia’s specialties:
• Share buy backs and valuation
• Business purchase and disposal
• Inheritance tax planning
• Management accounts and business planning
• Business consultancy

Under Lavinia’s guidance, ABDS have been able to achieve the highest standards through the utilisation of best practices. ABDS has been awarded the Investors in People accreditation and, more recently, ISO 9001 and the Quality Assurance checkmark accreditation from the ACCA.

As well as her busy schedule with her clients, Lavinia also undertakes a variety of charity work including:

• Treasurer of the Netley Marsh Neighbourhood Watch.
• Trustee and Treasurer of Southampton Counselling.
• Counsellor for Eastleigh Bereavement Services.

Recently, Lavinia has set up “Wise Owl Counselling and Coaching”, in response for demand for business stress related issues and performance improvement within the business community as a result of the current economic climate.

Lavinia has lived in Hampshire for the last 27 years and is married to a doctor. They have grown-up children. In her spare time, Lavinia enjoys walking her two dogs in the forest.

As Lavinia likes to say:

Not just another firm of accountants - ABDS is a trusted business colleague.

Contact a member of The Team to arrange a no obligation initial consultation, and see how ABDS can make a difference.


Great with People 
Brilliant with Numbers 
Clear and Precise with Words


As promised we conclude with this month’s joke supplied by David Nelson

An accountant goes to the local paper's office to see that the obituary for her recently deceased husband is published. The obit editor informs her that there is a charge of 50 pence per word. She pauses, reflects, and then she says, "Well then, let it read: 'Euan Davis died'." Amused at the woman's thrift, the editor tells her that there is a seven-word minimum for all obituaries. She thinks it over and in a few seconds says, "In that case, let it read, - 'Euan Davis died, golf clubs for sale'".

 

Lavinia and the team


Tel: 023 8083 6900
email: abds@netaccountants.net


Great with People    Brilliant with Numbers   Clear and Precise with Words

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