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News - 1 February 2014

ABDS NewsLetter February 2014

Welcome to the February 2014 ABDS newsletter designed to keep you informed of the latest Accounts, Tax and Business issues.
 
In this edition we are looking at:

  • Record breaking year for tax returns says HMRC
  • IMF upgrades UK growth forecast
  • The National Audit Office: warning on Educational Accounts
  • Parents to pay for state schools if they earn over £80,000
  • Lib Dems would stop tax cut
  • National Institute of Social and Economic Research says UK economy to grow

As part of our regular features we introduce you to one of our team members, this month it is our tax Manager Stuart Coleman.
 

This month’s fact sheet is:
Annual Tax & Business Health Check.
To request a copy Contact us now
 

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

Record breaking year for tax returns says HMRC
 
HMRC has released figures that show that the record for the number of online returns, set last year when 7.93 million people filed over the internet, was broken, as 8.48 million were sent online to HM Revenue and Customs (HMRC). This represents 84.5% of all returns received – a record-breaking percentage……… To continue

IMF upgrades UK growth forecast
 
The International Monetary Fund (IMF) is poised to increase its projection for UK growth in 2014 from 1.9% to 2.4%. Although the Fund will also lift its forecasts for world economic growth, the UK upgrade is significantly stronger.
This follows on from some more good news on the UK economy….To continue

The National Audit Office: warning on Educational Accounts
 
The National Audit Office (NAO), the government's spending watchdog has raised concerns about accounts from the Department for Education relating to its academy programme. They have "qualified" its signing off of the department's accounts for last year because of…………To continue
 
Parents to pay for state schools if they earn over £80,000
 
The cross-party think tank, the Social Market Foundation (SMF), has raised an idea that parents who earn a combined income of more than £80,000 should have to pay if their children go to the most popular state schools…..To continue

Lib Dems would stop tax cut
 
Chief Secretary to the Treasury Danny Alexander said the 45p rate was the "right place to be" and suggested he would veto any Conservative proposal to cut it to 40p.
 
The cut has been talked about by some by senior Conservatives, including the London Mayor, Boris Johnson….To continue

National Institute of Social and Economic Research says UK economy to grow
 
National Institute of Social and Economic Research (NIESR) has forecast that the UK economy will grow by 2.5% this year and 2.1% in 2015, they also predict that the unemployment rate will fall below 7% before the end of the year…..To continue
 
 
Articles from the previous ABDS Newsletter (click to open).
 
ABDS Quiz
Who said?

"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."                        

and who said?                

"Taxation is just a sophisticated way of demanding money with menaces."

For the answers go to the end of the NewsLetter

The spotlight this month falls on our Tax Manager Stuart Coleman

Stuart P Coleman BA (Hons) FCCA

Following a degree in Accountancy from Southampton Solent University, Stuart subsequently qualified as a Chartered Certified Accountant after joining ABDS in August 1999.
Stuart has substantial practical experience with the firm’s clients and as manager of the Tax Team supervises
 

  • The undertaking of routine tax compliance
  • Client liaison
  • specialised tax planning 
  •  IHT (inheritance tax planning)
  • Tax enquiry work 
  •  business sale & business valuation 
  •  Specialist projects such as business valuations, shareholder and partnership agreements, dispute resolution, statutory, contract and CIS regulation work.

Stuart is also very experienced in bookkeeping, accounts production and auditing, and so is well placed to provide clients with general advice on business issues.
 

Stuart has lived in Southampton all of his life. He is an avid reader and film fan and owns far too many DVD’s. He enjoys watching sport, particularly football, but as an Everton fan the term “enjoys” might not necessarily be an accurate description.
 

He is known as the company's “plain English” accountant for his practical, clear and concise way he can explain even extremely complex matters.

You will find that he is approachable, friendly and a good listener.

Contact Stuart 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 David Nelson.
 
An accountant is driving to visit a new client in rural Hampshire, but he gets lost due to road work detours, a lack of road signs, and he is unable to get a signal with either his satnav or phone.
 
However, he sees a local by the road side and stops.
”Can you tell me the way back to Southampton?”
“No” replies the chap
“Do you know what the next village or town is if I carry on this road?”
“No.”
“Do you know if there is a phone box anywhere near that I can use?”
“No”
"You don't know very much do you?"
"Maybe not” said the chap  “but I not lost".


Answer to the ABDS quiz:                

Who said?

"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle." 
                   Winston Churchill  

and who said?                

Taxation is just a sophisticated way of demanding money with menaces
                    Sir Terry Pratchett


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
email: abds@netaccountants.net


 
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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