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News - 1 March 2013

March 2013 NewsLetter

Welcome to the March 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.

Remember, Real Time Information (RTI) starts 6th April 2013, so if you are not ready, or would like help with your payroll, contact the Payroll Team at ABDS immediately for help and assistance. (See article below or click Here)

Let’s not forget that the Budget is this month, so don’t hesitate to log onto our website for all the latest news and views about how the Chancellors Red Box will affect us all. But if you just can’t wait, look at the ABDS Budget predictions by clicking Here.

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

  • Ofsted fears for brightest pupils.
  • Nursery ratios to be raised to cut childcare costs
  • Barrister found guilty of tax fraud
  • HMRC Loses 2.3bn in Tax Credits Last Year
  • RTI switchover HMRC latest
  • G20 to combat corporate tax avoidance
  • Are you aware of Disincorporation Relief?
  • HMRC names and shames
  • Ofsted chief Sir Michael Wilshaw wants paid governors
  • New plans to reduce employment tribunals

As part of our regular features we introduce you to one of our team members, this month it is Tonmoy Kumar, known to everyone as TK.

This month’s fact sheet is Tax Enquiry Protection Service.
To request a copy Contact us now

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

Ofsted fears for brightest pupils.

Ofsted's chief inspector of schools, Sir Michael Wilshaw, has warned some pupils, who got top marks at primary school, were not doing as well at secondary school.
The news comes as league tables reveal hundreds of schools failed to produce pupils suitable for elite universities………….To continue

Nursery ratios to be raised to cut childcare costs

Nurseries and childminders in England are to be allowed to look after more children per adult in an attempt to cut childcare costs and boost standards.
But Children's Minister Liz Truss says this will only happen if the carers' qualifications meet new standards………….To continue

Barrister found guilty of tax fraud

HM Revenue and Customs (HMRC) investigators found that Rohan Pershad, 44, of London had failed to declare or pay £627,839 of VAT for 12 years, spending the cash on two luxury homes in Surrey and Somerset, and private school fees for his children………….To continue

HMRC Loses 2.3bn in Tax Credits Last Year

According to a report by the National Audit Office (NAO), HM Revenue & Customs (HMRC) lost £2.27bn in tax credits last year
Tax officials admitted the majority of this - £1.6bn - was as a result of
mistakes rather than fraudulent claims………….To continue

RTI switchover HMRC latest

As is traditional at the turn of the tax year, HMRC schedules several days of downtime for its web gateway to update its mainframe computers with new rules, rates and functionality. Doing the work at another time would cost too much in extra………….To continue

G20 to combat corporate tax avoidance

G20 finance ministers meeting in Moscow, in particular those of the UK, France and Germany, have issued a communiqué stating that they are determined to develop measures to stop firms shifting profits from a home country to pay less tax elsewhere ………….To continue

Are you aware of Disincorporation Relief?

The government has decided to introduce a relief which will be available for businesses to change legal form from a limited company to self employed, referred to as disincorporation relief………….To continue

HMRC names and shames

HMRC has published the names of nine individuals and businesses which it says each owe more than………….To continue

Ofsted chief Sir Michael Wilshaw wants paid governors

Ofsted's chief inspector, Sir Michael Wilshaw, says he wants some school governors in England to be paid and to provide more professional leadership, and has attacked governors who are "ill-informed" and "not able to make good decisions".………….To continue

New plans to reduce employment tribunals

Employment Relations Minister Jo Swinson has announced plans to reduce the number of workplace disputes reaching an employment tribunal.
The plans, which were published in January, include………….To continue


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

The spotlight this month falls on

Tonmoy Kumar B Com. ACA (India) FCCA.
Accounts Manager
TK originally qualified as a Member of the Institute of Chartered Accountants at a top Indian firm in 1998, and afterwards gained further extensive commercial and financial experience and his UK ACCA qualification in London.

TK joined ABDS as the Manager of the Accounts Department in 2006, where he brings his specialist knowledge and advice to clients on VAT on exports and sales to the EU, tax compliance and UK tax planning.

As well as keeping abreast of the Hampshire business community while living in Southampton with his wife and young son, his major passion outside home and work is football, in particular Manchester United but I’m sure we can forgive him that.

If you are looking for your accounts to be prepared accurately and on time, if you are looking for proactive business advice on how to grow your business, if you are looking for an accountant who prides himself on gaining a clear understanding of your business requirements and deadlines, then call TK now.

If you would like advice on any of the above issues, to arrange a no obligation initial consultation, 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

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 was driving to a client’s office when the mobile rang; it was his line manager who said he’d been promoted. The accountant drove on and about 10 minutes later the phone rang again, this time it was the Department Manager who said he’d been promoted to the manager’s job. Another 15 minutes down the road and the phone rang again, it was the senior partner, and he said the accountant has been promoted to a partner. Just then the accountant crashed into a tree. When the police arrived they asked what happened, he replied that he’d just careered off the road.


Lavinia and the team

Tel: 023 8083 6900

Great with People    Brilliant with Numbers   Clear and Precise with Words

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