| |
| Is Your Self Assessment Too Taxing? |
| The Christmas rush may be over but for many that means the start of the self assessment rush. The January 31st self-assessment deadline is often approached with dread, however, completing your tax return form within the given time constraints can be achieved with the right amount of preparation and some simple, solid, professional advice, advises Bridgend based Chartered Accountants Graham Paul and Co. |
|
| How will Gordon's final PBR affect you and your business |
| The last pre-budget report (PBR) from Chancellor Gordon Brown was surprising brief, yet contained many key points, according to Bridgend based accountancy firm Graham Paul. While green issues dominated, underlying these were major financial and tax implications for local businesses and individuals to address. |
|
| New Appointment at Graham Paul and Co |
| Bridgend based Chartered Accountants Graham Paul and Co has appointed a new senior accountant to work in their audit department. Jonathan Payne joins Graham Paul and Co from a Swansea firm and brings with him eight years experience working in audit and accounts. |
|
| Is The Tax Man Calling You? |
| A Bridgend based firm of Chartered Accountants is advising local businesses to be aware of a recent announcement by HM Revenue and Customs which could see them encouraged to discuss alleged tax breaches. |
 |
| New Payment
Processing Service |
Local
businesses are being advised of the important changes taking place,
which will affect payroll payments. Companies need to register for
the new service as soon as possible before their current package
ceases to operate at the end of the year.
|
|
| Taxman
targets late filers |
Taxpayers
who file their self-assessment forms late could face increased penalties
as the taxman attempts to cut the amount of outstanding income tax.
Last year £1.1bn in income tax was owed from 1.1m overdue
tax returns.
|
|
| The Real
Dragons’ Den |
The
widely acclaimed BBC2 series Dragons’ Den conveys the impression
that all an entrepreneur has to do to raise informal equity funding
is get himself in front of a panel of rich people, and shout about
how good his project is. The reality is different. The entrepreneur
needs to produce a quality business plan to prepare himself for
investors due diligence. And then, where it usually all falls down,
he has to find the investors. |
|
| Labour
Policies hit small businesses |
Tony
Blair must prove early on his historic third term that Labour is
committed to supporting small businesses, the backbone of the UK
economy. |
|
| It's time
to transfer your payroll service |
Cardiff
based accountants Graham Paul is advising local businesses to be
aware of important changes taking place to existing payroll submission
services. |
|
| New threat
from ID thieves |
Small
Businesses are wide open to a dangerous new form of identity fraud.
Few safeguards are in place to prevent criminals running up thousands
of pounds of debt in their name. |
|
| Cheque
fraud warning following chip and pin success |
Cardiff
based accountants Graham Paul are warning businesses and consumers
in Wales to be aware of a predicted increase in cheque fraud following
the launch of chip and pin technology. |
|
| Could
you face a huge tax bill? |
Family
run businesses across Cardiff are being advised by local accountants
Graham Paul, to consider their tax position very carefully, following
the recent landmark ruling in the Arctic Systems appeal. |
|
| Don't
be reeled in by cowboy accountants |
Cardiff
based accountants Graham Paul, are advising local businesses to
take note of recent warnings regarding cowboy accountants operating
across the region. |
|
| Avoiding
Online Scams |
A form
of Fraud known as “phishing” has made headlines recently,
with Barclays, Lloyds TSB, MBNA, Natwest, Citibank and even the
Bank of England being affected. |
|
| The Budget
2005 |
Gordon
Brown presented his ninth Budget on Wednesday 16 March 2005. At
under an hour it certainly fell well short of the longest continuous
Budget speech ever. That was delivered by William Gladstone on 18
April 1853 and ran to four hours and 45 minutes! |
|
| Ten ways
to give less to the taxman |
‘In
this world nothing is certain but death and taxes’. So goes
the famous quote from Benjamin Franklin. Indeed he was correct,
but did you know that we waste almost £6 billion each year
in unnecessary tax? |
|
| What to
do if you forgot to claim gift aid |
If
you have already, or are thinking of making a gift to any one of
the funds set up to help those affected by the Indian Ocean earthquake,
tax-efficient giving is one of the best ways to do this. This can
make it cheaper to donate to and it can benefit the charity by making
your donation go further. |
|
| More tax
on van use warns Graham Paul |
Huge
tax hikes could hit businesses across Cardiff unless the private
use of company vans is restricted to journeys between home and work,
following announcements in the last budget, warns John Squire at
Cardiff based accountants Graham Paul. |
|
| New Year
New Accountant? |
January
is the natural time to review and refresh your business practices,
and this may well include considering a new accountant or business
adviser. However, with so many to choose between, Bridgend based
accountants Graham Paul, know this can seem like an arduous task. |
|
| Power
of the postcode |
It’s
just a few letters and numbers, but the postcode increasingly controls
our lives. Nearly every financial company uses it to make crucial
decisions about what you can buy, how much you will pay for goods
and the way you are dealt with.
But it is possible to crack the code, here’s how. |
|
| The Pre-Budget
Summary Report |
| The Chancellor has delivered
his pre-Budget report. We will be pleased to hear from you if you
think you might need to take any actions before the end of the tax
year. |
|
| Small
Businesses Still Face Burdens From New Audit Rules |
Small
Businesses have been given a late reprieve from auditing standards
that would have forced them to employ two different accounting firms
to carry out their audit and business advisory needs. |
|
| Red Tape
Keeping Small Firms Small |
Red Tape
is forcing the owners of small firms to work longer hours and is
stunting business growth. Eight out of ten bosses of small and medium
sized companies feel they fail to give their business sufficient
attention because of the weight of bureaucracy, according to research
from an employment law firm. |
|
| Dealing
with tax credit overpayments |
The
Inland Revenue is trying to recover millions of pounds of overpayments
it paid to families receiving tax credits.
In April 2003, the government launched
its revolutionary new tax credits. These are a generous benefit
for families and many people have welcomed them. However, they have
one unwelcome feature, never before seen in the benefit system:
the overpayment. |
|
| Firms
Targeted In Mailshot Con |
Small
businesses in the region are being warned by Cardiff based accountants
Graham Paul, that they could be targeted by fraudsters using new
money laundering rules to push them into handing over cash. |
|
| Always
Read The Small Print Advises Graham Paul & Co |
Cardiff
based accountants Graham Paul & Co is warning small businesses
to read the small print when signing any form of contract or accepting
an offer. The advice comes following the news that a Spanish company,
which was closed down for misleading advertising, has now reopened. |
|
| Family
Run Businesses Advised To Keep Calm |
Following
the landmark victory for the Inland Revenue, Cardiff Accountants
Graham Paul & Co are advising family run businesses not to panic. |
|
| No Need
To Worry Over Tax Returns Says Graham Paul & Co |
Cardiff
based accountants Graham Paul & Co, is reassuring small businesses
that there is no need for concern following recent rumours that
their tax returns may be examined. |
|
| Flexible
Retirement may be the solution |
| Flexible
retirement arrangements to be permitted under new government legislation
could create a win-win situation for employers and staff. |
|
| Anti Avoidance
Turmoil ... |
As
it is quite widely known, the budget introduced some quite widespread
reforms to the “tax planning” profession and public
alike. Any tax professional will quickly tell you the difference
between “avoidance” and “evasion”, however,
there is now a system that will regulate the tax planning industry,
and requires disclosure of tax avoidance schemes. Which almost brings
avoidance and evasion closer together in the Revenue’s eyes. |
|
| Small
firms look at new funding options as interest rates rise |
The
prospect of further hikes in UK interest rates could spell dangers
for many small and medium sized firms that have depended on bank
borrowing to fund their business according to a recent survey.
With the Bank of England’s nine
member Monetary Policy Committee (MPC) raising interest rates four
times since last November and additional hikes looking highly likely,
it’s hardly surprising that small business owners and managers
are feeling the pressure. |
|
| Form 42
- The new information return for share schemes ... |
Under
the Finance Act 2003 companies are now required to notify the Revenue
where transactions in employment related securities have occurred.
Companies should do so by completing the Form 42 by 6 July in the
tax year following in which the reportable transaction took place.
The form is over 12 pages long and has to be completed for every
“reportable event” and failure to do so will trigger
penalty fines. |
|
| Pensions
Made Simple? |
In
December 2002 the Government announced radical proposals to simplify
the structure of personal and occupational pension schemes. Whilst
promising to maintain generous tax incentives they wish to create
easy to understand and flexible structures for all contributors.
After industry consultation, the Government confirmed
the basic outline in the last Budget. For most clients these are
the key features: |
|
| Smaller
companies are more likely to consider tapping into new markets to
attract customers, according to a new survey |
| The
survey conducted by a large accountancy firm, said that, in general,
the smaller the business, the more ambitious its goals are, with more
than a quarter of organisations with a turnover of less than £1m
wanting to double their size within three years. |
|
| Not quite
the FD |
Start-ups
and small businesses often look to their accountant to provide the
financial expertise they would otherwise get from an in-house finance
director. How does this work, in practice, and how do SME’s
benefit? John Squire, Partner at accountancy firm Graham Paul, explains. |
|
| The Inheritance
Tax Trap |
Ian
Washbourne, Partner, at Cardiff & Bridgend
accountancy firm, Graham Paul, looks into why booming house prices
and increased prosperity are the main reasons ordinary people, not
the mega rich, are falling into the Inheritance Tax Trap. |
|
| Coping
with debt |
It
has been well noted in the media that our spending habits are at
an all-time high and that, as a nation, we are taking on too much
debt. This coincides with the recent realisation that shoppers who
apply for store cards are being charged astronomical interest rates,
some in excess of 30% p.a.! This has led to some experts believing
that people will declare bankruptcy to avoid such debts, or turn
to debt consolidation companies through poor advice, explains John
Squire at Graham Paul. |
|
| Marketing
strategies that work! |
Sandra
O’Malley at Bridgend and Cardiff accountancy firm Graham Paul,
who provides training and business development programmes to all
sizes of business, looks at marketing strategies and the need to
“sell”. |
|
| Budget
- the effect on small businesses |
While
this Budget may be remembered as the launch pad for the political
debate that will determine the outcome of the next General Election,
there was plenty to interest the business community, explains Ian
Washbourne at Graham Paul. |
|
