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News - 1 October 2013

ABDS NewsLetter October 2013

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

In this edition we are looking at:

Teenagers must master English and maths
HMRC Campaign news
National clampdown targets poor construction site safety
UK economy is turning corner.
Housing market recovery is spreading.
Residential landlords given chance to settle unpaid tax
HMRC revenue from SMEs up 31%
Half a billion spent by SMEs on tax admin per year.
Teachers strike over pay and pensions

And don’t forget, the National Minimum Wage Rates changed on the 1st October 2013, for more information click here

Child Benefit Deadline 5th October 2013 for more information click here

As part of our regular features we introduce you to one of our team members, this month it is our marketing Manager MIKE TWOMEY.

This month’s fact sheet is:
Outsourcing Accountancy Functions

To request a copy Contact us now

To download our brochure click here

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

Teenagers must master English and maths

The government has confirmed that teenagers who fail to score at least a Grade C in English and maths GCSEs will have to continue studying the subjects. This could affect more than 250,000 young people in education or training in England.

The change coincides with another new policy which sees the education participation age raised………..To continue

HMRC Campaign news

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“There are a number of campaigns where both the notification and disclosure periods have now closed. If you have unpaid tax that you think could have been reported and paid to HMRC under one of these campaigns, it will still be beneficial for you to submit your completed tax returns and pay what you owe before HMRC comes to you as the penalty may be lower …………………………..To continue

National clampdown targets poor construction site safety

Poor standards and unsafe work on Britain's building sites will be targeted as part of a nationwide drive aimed at reducing death, injury and ill health in the industry.

During September, Health and Safety Executive (HSE) inspectors will visit construction sites to ensure high-risk activities, such as working at height, and work which could result in exposure to………….To continue

UK economy is turning corner.

In a speech in London on Monday 9th September, Chancellor George Osborne said that the UK economy is "turning a corner" and cited "tentative signs of a balanced, broad based and sustainable recovery", but stressed it was still the "early stages" and "plenty of risks" remained.

The speech comes …………………………………………………………..To continue

Housing market recovery is spreading.

The UK's biggest house builder, Barratt Developments, says it is seeing recovery in the market beyond London and southeast England, with demand back at pre-financial crisis levels.

Its average selling price rose to £194,800 up 7.9% from the previous year's figure of £180,500 and they now expect to deliver an estimated…………….To continue

Residential landlords given chance to settle unpaid tax

HMRC are giving Residential Landlords, who fail to disclose all their income, the chance to settle any unpaid tax, including any penalties and interest due.

The Let Property Campaign will run for at least 18 months and covers all residential landlords including those with single or multiple properties, holiday lettings and student or workforce rentals …………….To continue

HMRC revenue from SMEs up 31%

Investigations into SMEs have produced a 31% increase in yield for HMRC this tax year

The Revenue netted £565m in additional revenue in 2012-13 through compliance investigations into SMEs, up from £434m in 2011-12 and £311m in 2010/11, according to UHY Hacker Young.

Chancellor George Osborne hopes to raise as much as £7bn a year through a tougher focus on tax evasion and avoidance ………..To continue

Half a billion spent by SMEs on tax admin per year.

Research by the Federation of Small Businesses (FSB) shows the UK's small business owners are losing around 12 days a year keeping on top of their tax administration costing them half a billion pounds per year.

Half the respondents spend between two to eight hours per month understanding, calculating and completing tax forms ……………….To continue

Teachers strike over pay and pensions

At least 2,500 schools are closed or partially closed as members of the two biggest teaching unions, the NUT and NASUWT, take strike action in a row over pay, pensions and workloads.

The two unions represent nine out of 10 teachers. They are angry about changes to their pensions, increased workload and about government plans to bring in performance-related pay, from this autumn……To continue

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


Who said?
“In this world nothing can be said to be certain, except death and taxes.”

For the answer go to the end of the NewsLetter

The spotlight this month falls on our Marketing Manager

Mike, although he hates to admit it, has over 25 years’ experience in B2B and B2C marketing over a variety of industry sectors

From Group Sales and Marketing Manager in a manufacturing company, to Corporate Sales Manager in a Consultancy Company, to Brand and Sales Manager in an import and distribution company, this gives him a way of looking at the Accountancy market in a very different manner than you would expect from a more traditionally based accountancy marketeer

His vast experience across a wide range of business sectors is a very useful asset to the both ABDS and the client base

Originally from the Midlands, he has lived on the South Coast virtually continuously since going to University at 18. In his spare time he is passionate about his football (WBA), Photography, surfing and the theatre. He also enjoys searching for unusual beers both draught and bottled, but enjoys nothing more than sitting with a glass and a good book while listening to the Rolling Stones

If you would like advice on any Business, Finance, or with a Marketing project, please Contact a member of the Team to arrange a no obligation consultation for you to see how ABDS can make a difference to your business

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 resident comedian David Nelson.

A well dressed accountant goes into a bar on the way home on a Friday night after a long week of tax computations. Orders a pint and as he was taking his first sip he heard a voice saying
“Nice tie”

The accountant looked around, no one was there. So as he was about to put the glass to his mouth for the second time, the same voice said
“Very nice suit you are wearing, and beautifully polished shoes.”
Again he looked about, but there was no one to be seen

Felling a little disturbed by this, the accountant called over to the barman and explained what had just happed and the fact that he had no idea where the voice was coming from.
“Oh” said the barman, “don’t let that worry you, it’s just the complimentary peanuts.”

Answer to the ABDS quiz:   Benjamin Franklin

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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