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News - 1 August 2013

ABDS August 2013 NewsLetter

Tel:    023 8083 6900                            

Welcome to the August 2013 ABDS newsletter designed to keep you informed of the latest Accounts, Tax and Business issues.

In this edition we are looking at:

UK business confidence 'at six-year high'
Teachers increasingly are dissatisfied.
HMRC claim over £1billion in tax avoidance saved.
Last shift at Ford's Transit van factory in Swaythling
Dozens of 'outstanding' schools downgraded
Survey reveals extent of HMRC penalties among contractors.
Government sets out radical plans to shake up apprenticeship funding
UK economic growth rises to 0.6% in second quarter

As part of our regular features we introduce you to one of our team members, this month it is our Accounts Senior Helen Smith.

This month’s fact sheet is:
Strategic Planning and Business Consultancy.

To request a copy Contact us now

And we will conclude, as usual, with a Joke, but in a break from tradition, this month it will be from our Tax Manager, Stuart Coleman.

UK business confidence 'at six-year high'

The quarterly survey from the British Chambers of Commerce (BCC) is the latest indication that the UK's economic recovery is strengthening. Its findings show that business confidence in the UK is at its highest level since 2007, with export sales growing at their fastest rate since it began publishing its survey in 1989.………….To continue

Teachers increasingly are dissatisfied.

A survey by the National Association of Schoolmasters Union of Women Teachers (NASUWT) and the National Union of Teachers (NUT) has suggested that UK teachers are increasingly dissatisfied and many have considered quitting.

Government reforms to pay and pensions, a heavy workload and school inspections were a source of concern, the poll of 14,847 members of the NASUWT suggests.………….To continue

HMRC claim over £1billion in tax avoidance saved.

The total amount of tax protected by tackling corporate tax avoidance schemes has passed £1 billion in the first six months of 2013.

Announcing the figure at the first annual HM Revenue and Customs (HMRC) Stakeholder Conference, David Gauke, Exchequer Secretary to the Treasury, said:
“Today I can announce that HMRC has topped £1 billion this year in court wins against corporate tax avoidance…………….To continue

Last shift at Ford's Transit van factory in Swaythling

Staff at Ford's Transit van factory in Southampton are working their final shifts as it prepares to close, with production of the famous van now moving to Turkey.

The factory, which once had more than 500 employees, has produced two million transits over the last 40 years.……….To continue

Dozens of 'outstanding' schools downgraded

More than 100 schools, reinspected since September, who had previously been rated "outstanding" by Ofsted inspectors have lost their top rankings after changes to the system in England..………….To continue

Survey reveals extent of HMRC penalties among contractors.

Statistics from 2,000 UK contractors suggest more than one third (37 per cent) have received a fine or penalty from HMRC. It also appears that more than half (55 per cent) of surveyed workers say they struggle to understand HMRC guidelines, leaving nearly 880,000 contractors at risk of a similar problem….To continue

Government sets out radical plans to shake up apprenticeship funding

As part of a new proposals announced on Wednesday, Employers could be funded directly to purchase the apprenticeship training they want, which will put businesses in the driving seat according to Business Secretary, Vince Cable.

The government is consulting on funding reforms proposed by the entrepreneur ………….To continue

UK economic growth rises to 0.6% in second quarter

The UK economy grew by 0.6% in the three months to June, according to official figures.

The figure was in line with market expectations, and is up from 0.3% growth in the previous quarter. Output in all of the services, manufacturing and construction sectors expanded.

It was just three months ago that it was feared the UK could enter an unprecedented triple-dip recession………….To continue

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

The spotlight this month falls on our Accounts Senior Helen Smith

After graduating from Portsmouth University (BA (Hons) Business Administration) Helen undertook several short term contracts in wide variety of companies ranging from manufacturing to the cosmetic industry.

Helen joined the ABDS in November 2012, since when she has successfully completed her AAT and has become a valuable member of TK’s accounts team utilising all the valuable experience she gained during her time in temporary assignments.

Her spare time is taken up looking after her daughter, of early school age, cooking and outdoor sports. Helen’s chocolate cakes and fancies are particular favorites of her colleagues (especially TK) which will result in a mass ABDS diet very soon.

Contact Helen or any 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

And to prove Accountants do have a sense of humour we conclude with this month’s joke supplied by our Tax Manager Stuart Coleman.

Bill the Auditor and his two associates are going to clients and park their car in the visitors place as requested. On the way to reception, Bill suddenly realises he’s locked the car but left the keys inside.
“What am I going to do?” said Bill

One of his colleagues suggested
“We could get a coat hanger and try to unlock the door”

His other colleague suggested calling out the AA

Bill then replied “Whatever we do had better be quick, it’s just about to rain and I’ve left the roof down.”

As an alternative, TK would like to add his own with The Business Rule Book, or, the unwritten business rules and laws that will never make it onto the statute book.

Law 1 (Staff): In any organisation there will always be one person who knows what is going on. That person must be fired.

Law 2 (Serendipity): If you wish to make an improved product, you must already be engaged in making an inferior one.

Law 3 (Time): There's never enough time to do something right, but there's always enough time to do it again.

Law 4 (production and Planning): You can make something foolproof, but you can't make it damnfoolproof.

Law 4 (Maxim): Always remember that your business is absolutely unique, just like everyone else's.

Law 6 (Formula for Failure): There are only two kinds of people who fail: those who listen to nobody... and those who listen to everybody.

Law 7 (Red Tape): For every business action there is an equal and opposite government business support initiative.

We hope you have enjoyed reading our 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.

Lavinia and the team


Tel: 023 8083 6900

Great with People    Brilliant with Numbers   Clear and Precise with Words

Accountants for Business Development and Solution can cater for all your financial and business needs.


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