Category: Business News

We at A&C Chartered Accountants have been working very hard behind the scenes to improve how we do business with the sole aim of providing you with a cutting edge service.   We list below some of the improvements which we know will benefit you:-

• refurbished offices with a friendly reception area ( and TV! ) and additional meeting rooms.
• All new computers and servers with improved capabilities
• implemented of a secure offsite back up facility
• paperless office implementation, to give you immediate access to data and to allow us to interact electronically with you
• on-line accounting solutions, developed in-house for our clients ( all you need is basic spreadsheet knowledge )
• remote access solutions – e.g remote training sessions on Sage, our on-line accounting systems etc.
• extensive training provided onsite and by external leading training organisations to our team members so they can give you the best service possible.
• new and improved website with Twitter, Facebook and Linked In and news articles

We are always looking to improve what we do and recognise that this is a fast changing world where we need to always look to keep ahead.  Ring A&C Chartered Accountants on 0161 962 1855 and see what we can do for you.

A&C Chartered Accountants firmly believe in businesses keeping proper books of account.  There is no excuse in keeping poor books.  We would go as far as to say that this should be a mandatory requirement.  For far too long many businesses have got themselves into trouble by not keeping their books in order.  We will only take on new clients now if we are happy that they are compliant in this regard.

There are a number of accounting software packages out in the market with Sage being one of the market leaders in the SME sector.  We are fully up to speed with Sage and can supply, install and train you how to use it.  You can also fully outsource your accounting function to us and we will maintain it on Sage for you.

These off the shelf accounting software packages have to cater for all shapes and sizes of businesses and have significant functionality.  They are also not so easy to use.  They can be overkill for most small businesses.  It is not unusual for clients to buy the software but not get it out of the box as the prospect of learning how to use it is too daunting.

With this in mimd, we have developed,tested and have now launched a very simple spreadsheet accountiing system for our clients to use.  As Chartered Accountants we know what is needed to satisfy your record keeping requirements and our product ticks all the boxes. It is based on simple entry of your business transactions in a cash book format and it instantly gives you the following:-

Monthly profit and loss account – (so you can assess how you are getting on)
Monthly balance sheet – (to check your state of affairs at any given time)
Vat returns
Cash control
Estimate of your tax bill ( so you can put money aside )
and more

It takes you less than 1 hour for us to show you how to use it

As you may be aware the Tax Office is extending it’s Business Records Checks and they are targeting to check in the region of 20,000 in the near future.   With penalties being proposed of up to £3,000 for serious inadequacies, now is the time to get your house in order.

Please contact us on 0161 962 1855 and speak to Paul to get the ball rolling

…if your pension fund is worth less than £18,000, you can withdraw, subject to certain conditions, the whole lot in one go as a cash lump sum.  Normally you can only take 25% as a cash lump sum and the remainder is used as a pension for the rest of your life.

Pension funds with a value less than or equal to £18,000 are officially known as ‘ trivial funds ‘ and you are allowed to draw out the fund in full provided the following condions are met:-

you are aged between 60 and 75
the value of all your pension fund(s) is no miore than £18,000
if you have more than one fund you must cash them all in within a 12 month period
25% of the fund(s) value can be taken tax free and the balance is taxed at basic rate tax
the pension company will allow you to do it

Need any more help? Please contact A&C Chartered Accountants on 0161 962 1855

Running your own business can be a lonely, thankless and exhausting job.   There are not enough hours in the day to be the entrepreneur, the operations manager, the finance director, the salesman and a normal rational person.  Sounds like you?  Well you did want to be your own boss!

As the boss of A&C Chartered Accountants I feel I sometimes fall into this category and find it useful and helpful to share experiences and ideas with other business owners.  With this in mind we are considering setting up regular group meetings for like minded business owners with the objective of helping each other to keep focused on their goals.  We would like to invite anyone interested to call Paul at this office on 0161 962 1855 so we can look to set things up.

As Autumn approaches the school season beckons. Parents want the best for their children and are often more than willing to part with hard earned cash for private tuiton and coaching, whether it’s piano lessons, extra maths lessons or football coaching for the next Rooney.

A&C Chartered Accountants are aware that HM Revenue and Customs will be rolling out their next campaign in Autumn 2011 to target private tutors and coaches who have not declared their income nor paid taxes on it.

Workplace Pension Law is changing

From 1 April 2012, changes to pensions law will affect all employers ( i.e you ) with at least one worker in the UK.  You will need to:-

• Automatically enrol certain workers into a pension scheme
• Make contributions on their workers behalf
• Register with The Pensions Regulator
• Provide workers with certain information about the changes

This is to be introduced in stages over 4 years from 1 April 2012.   You will be allocated a date from when the duties will first apply to them, known as their ‘staging date.’   You will then be obliged to do the following:-