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News - 1 October 2012

October 2012 NewsLetter

Welcome to the October 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:

  • HMRC announce a new campaign
  • What are Free Schools?
  • The problem of raising finances for Small Businesses
  • National Minimum Wage changes
  • Labour calls for Anti-avoidance Law
  • Retired people to reach a record this year
  • The Funding for Lending Scheme (FLS)
  • and HMRC net £500 million


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

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


HMRC announce a new campaign

HMRC has announced the Direct Selling campaign aimed at those people who sell goods on behalf of businesses and receive commission on the sales they make. HMRC is inviting ‘agents’, ‘consultants’, ‘representatives’ and ‘distributors’ to come forward and use the campaign to disclose any undeclared income………………….
To continue


What are Free Schools?

In June 2010, the Secretary of State, Rt Hon. Michael Gove MP invited proposals from groups of parents, teachers, charities and local communities to develop proposals to set up a new type of school……………………………
To continue

The problem of raising finances for Small Businesses

According to a survey by the Federation of Small Businesses (FSB), small firms are struggling to raise the money they need to expand…………………..
To continue

National Minimum Wage changes

Every year, in October, the national minimum wage rates change.  From 1 October 2012, you must make sure that you pay your employees at least the new minimum rates. The new hourly rates are………………
To continue

Labour calls for Anti-avoidance Law

HMRC has announced the Direct Selling campaign aimed at those people who sell goods on behalf of businesses and receive commission on the sales they make. HMRC is inviting ‘agents’, ‘consultants’, ‘representatives’ and ‘distributors’ to come forward and use the campaign to disclose any undeclared income………………….
To continue

Retired people to reach a record this year

A record number of people in Britain are retiring this year as the post-war “baby boom” generation draw their pensions………………..
To continue

The Funding for Lending Scheme (FLS)

The Bank of England, which runs the scheme, said 13 banks and building societies had signed up so far, who between them represent 73% of the market and £1.2 trillion worth of lending………………….
To continue


HMRC net £500 million
The High Net Worth Unit (HNWU), designed to deal with 5,000 of the UK’s wealthiest taxpayers, has exceeded its collection targets since its launch three years ago………………
To continue


Articles from the ABDS September Newsletter


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.


Great with People    Brilliant with numbers   Clear and precise with words


As promised we conclude with 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. 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


Great with People   Brilliant with numbers  Clear and precise with words

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