HMRC Tastforces Strike Again

HMRC TASKFORCES

No sooner had we mentioned that HMRC have announced a few new taskforces to investigate tax evasion, than they come up with even more!

If you operate within any of the categories below, or know someone who does, we can do a check of your business records and identify any possible problem areas in case HMRC come calling.

The new taskforces are:

• Motor traders in South Wales, South West England, Yorkshire, Nottinghamshire and North East England.
• Pubs & nightclubs in Scotland.
• Hair and beauty businesses in Northern Ireland.

Overall, about 30 taskforce campaigns have been undertaken since the beginning of 2011, with more due to start during 2012/13.

If you would like to have a no obligation chat about how we can help, please speak to Paul on 0161 962 1855 or email paul@ac-accounts.co.uk

A new client true story.

We don’t normally like to boast but we have to share our good news with you! We recently gained a new client having promised we go that bit further. Well we delivered and here’s how!. As part of their investment in us we agreed to prepare management accounts for the nine months ended 30 June 2012 to get a feel for the business, report to the directors on the business profitability and the carry out a compliance review.

All well good but here’s the punchline – from our work we identified that the company had not claimed back tax they were entitled to in the sum of £58,000 and they made an over payment of VAT in the previous quarter in the sum of £9,000. We quickly submitted the claims and the company is now better of to the tune of £67,000!

Have you made your claim? Do so before it is too late

If you own or lease commercial property then is is likely that you have not maximised your claim for capital allowances and you or your company may be due a large tax refund and your future tax bills may be significantly reduced. The following article may be of interest to you

www.guardian.co.uk/business/2012/mar/19/tax-relief-commercial-properties

Let us help you make that claim! ring paul on 0161 962 1855

To all our clients and prospects.  Have you considered the benefits of transferring your accounts function totally on-line and in the cloud.   Well with Xero ( see www.xero.com ) you can and we can implement it for you and transfer all your data from Sage so that you will be up and running in no time.  As certified Xero accountants we can guide you through it.

We have made the switch and have not looked back.  The benefits are as follows:-

• small monthly fee ( from less than £20/month )
• no server needed
• software always up to date
• automatic back uyp
• easy to use ( very intuitive )
• allows a better relationship with your accountant
• etc

Give us a call, have and on-line demonstration and make the switch. ( tel 0161 962 1855 )

The government is to invest up to £100m in the autumn into small and medium size businesses.  They are to by-pass the banks and are to partner with private sector investors to stimulate the availability of funding to get the economy moving.  Want to know more?, give us a call on 0161 962 185.

HMRC says sorry for issuing over 12,000 penalty notices in error to taxpayers who have been taken out of the self assessment system.  They are, however, trying to puts things right.   If you have received a penalty notice recently and think you should have not received one, please let us help you.  Ring Paul on 0161 962 1855.

If you are required by your employer to work from home do not forget that from 6 April 2012 you can claim £4 per week from your employer, tax free, for business use of home.  Ring Paul on 0161 962 1855 for more details