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News - 1 July 2012

July 2012 ABDS newsletter

Welcome to the July 2012 ABDS newsletter designed to keep you informed of the latest tax and business issues. We hope you enjoy reading the newsletter and remember, we are here to help you so please contact us if you need further information on any Financial topics such as tax  planning, returns or compliance, bookkeeping, payroll, retirement planning, business consultancy on purchase, sale or start up, and not to forget management accounts.

ABDS – the one stop shop for your business.

In this edition we will be looking at:

  • A Government initiative to boost entrepreneurship
  • Good news for the High Street
  • Updated UK and Liechtenstein Tax Deal
  • HMRC announce new wave of Taskforces
  • HMRC and the K2 Scheme
  • Threat of teacher’s industrial action
  • And what is Inflation?

We also have Part two of our new series: Financial Glossary

As part of our regular features we introduce you to one of our team members, this month it is Matthew Lodge, our Office and Practice Accounts Manager

This month’s Fact Sheet is on Outsourcing Accountancy Functions.
To request a copy Contact us now

And we will conclude, as usual, with an accountancy joke supplied by our resident comedian David Nelson.

A Government initiative to boost entrepreneurship

Around £80m worth of loans will be made available to get new businesses off the ground in a new scheme aimed at young entrepreneurs.

David Cameron said he hopes the initiative could lead to 30,000 more start-ups and unleash a "new wave" of enterprise to support much-needed economic growth……………..
To continue

Good news for the High Street

The latest survey of the distributive trades by the CBI showed a positive balance of 21% of retailers reporting an increase in sales from 12 months before.

Judith McKenna, chair of the CBI Distributive Trades Panel and chief operating officer at Asda, said: "It's encouraging to see High Street sales up compared to a year ago, and that business sentiment about the next three months has improved………..
To continue

Updated UK and Liechtenstein Tax Deal

The United Kingdom and the Principality of Liechtenstein are to sign a double taxation agreement (DTA) which will remove obstacles to investment and other cross-border economic activity and will give businesses increased certainty about their tax treatment……
To continue

HMRC announce new wave of Taskforces

HMRC have expanded its compliance and enforcement programme by announcing a wave of new taskforces to investigate evasion in specific commercial and geographical sectors…..
To continue

HMRC and the K2 Scheme

Comedian Jimmy Carr has issued a statement apologising for his "terrible error of judgment" in using a tax avoidance scheme……..
To continue

Threat of teacher’s industrial action

The two biggest teachers' unions, the NUT and NASUWT, are threatening strikes in the autumn in England and Wales over workload, cuts, pensions and plans for local pay.

The heads of both unions have written to Education Secretary Michael Gove warning of the "deep concerns" of teachers and calling on him to engage in talks with this joint campaign….
To continue

What is Inflation?

And how will it affect me? These are questions we get asked on a quite regular basis, so, we asked Stuart (Coleman) and TK (Tonmoy Kumar) if they could produce a workable and easy to understand definition……
To continue

Financial Glossary: Part two C to D

As part of our attempt to demystify the complex world of financial jargon, here is Part One of the ABDS guide to current business terms.

Financial Glossary: Part Two C to D
The list continues next month, or for further information, contact: ABDS

Articles from the ABDS June Newsletter

The spotlight this month falls on Matthew Lodge

Matthew Lodge BSc 

Trainee Accountant/Practice Admin 
Matthew Lodge first joined ABDS upon leaving the University of Sussex in 2009, where he graduated with a 2:1 honours degree in mathematics. He had previously gained A-levels in mathematics, English language, philosophy and drama & theatre studies.

Following a successful internship period with the firm, Matthew was placed in charge of the practice accounts, which remain his primary responsibility. He also supervises a range of activities within the administration department. He is currently completing the final stage of his AAT studies before going on to study for the ACCA qualification.

Matthew has lived in Waterlooville, near Portsmouth, for most of his life. Outside of ABDS he is passionate about music and enjoys playing both guitar and keyboards. He is also a keen football supporter, but is not the player he once was.

If you would like advice on any of the above issues, please Call a member of the Team to arrange a no obligation consultation for you to see how ABDS can make a difference to your business.

As promised we conclude with an Accountancy joke supplied by our resident comedian David Nelson.

Three Accountants walk into a bar and each order a beer. They raise their glasses and make a toast. “Here’s to 59!” After downing their beers, they order another round and make the same toast. “Here’s to 59!”
This happens again and again
Finally, the barman asks the accountants what the significance of the toast is.
“Well,” said one of them, “we put a 1,000 piece jigsaw together in just 59 days!”
“And that’s a big deal” said the barman
“You bet” said the same accountant, “on the box it said 4 to 8 years.”

Kind regards

Lavinia and the team

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