CJM Accountancy & Financial Management

HMRC puts etraders on alert

Online traders and private tutors are next in line for HMRC's rolling programme of tax crackdowns. The accountancy profession could be a potential target, HMRC said.

HMRC has launched a new amnesty campaign targeting businesses trading above the VAT threshold without being registered.

The VAT crackdown is set to hit later on in the summer, giving those who are unregistered for VAT to get their affairs in order.

Take the chance - give us a call and we can assist you in ensuring you have the best advice and prepare for VAT registration.

THIS IS THE ONLY TIME WE WILL SEE AND LIVE THIS EVENT
Calendar for July 2011


July




Sun Mon Tue Wed Thu Fri Sat
� � � � � 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 � � � � � �



This year, July has 5 Fridays, 5 Saturdays and 5 Sundays. This happens Once every 823 years.

This year we're also going to experience four unusual dates.

1/1/11, 1/11/11, 11/1/11, 11/11/11 and that's not all...

Take the last two digits of the year in which you were born - now add the age you will be this year,

The results will be 111.


There you go - it's not all about accountancy

ONE-IN-10 small business owners has admitted missing important tax deadlines and payments, while nearly one-fifth have lost out on grants and tax breaks.

The figures, from a survey by Clydesdale and Yorkshire Banks of 500 small businesses, showed that 19% had missed out on tax breaks and grants, while 10% said they had made late VAT payments or missed tax return deadlines.

Business should ensure that they have an accountant on hand who can support and guide them through the various tax requirements. Ensuring that they meet the deadlines.

The newest form of Scottish charitable company is days away.

According to the OSCR website

The Scottish Charitable Incorporated Organisation (SCIO) is a new legal form, unique to charities.The SCIO will be a corporate body able to enter into contracts, employ staff, incur debts, own property, to sue and to be sued. As such, it will provide a high degree of protection against personal liability for its charity trustees. It will also provide some reassurance for those entering into contracts with it, and for creditors. Unlike charities that are companies limited by guarantee, SCIOs will have OSCR as a single regulator. The SCIO will provide another option for bodies wishing to register as charities, and for existing Scottish charities wishing to adopt a different constitutional form.

The time is right for a new less administratively burdensome company for charities.

Great news.

After an invite from Business Gateway to deliver a Self Assessment course on Arran I headed over on Wed 16th. What a great day and a great attendess. A complete mixture of businesses heard from our invited HMRC education manager Colin McMurtrie and from myself on a range of core Self Assessment on line topics, fundamental book-keeping, and self assessment focus. With the feedback way abouve 80% it really was a great day.

OK, I realise that I am not great at keeping my blog up to date with what CJM are doing. However when I bumped into a parent earlier it reminded me of something. A few weeks ago I was invited to present to the senior pupils at Girvan Academy in Ayrshire. For the pupils I am sure the idea of spending an hour hearing about accountancy did not fill them with immediate glee. However give them credit as I walked through the key topics, of sources of finance, core accounting knowledge, ratios and then an overview of companies and share prices to assist them in their "investor challenge" competition the interaction was excellent. The started to engage and answer really well. Great investment of my time and an enjoyable experience. Thanks to the teachers who invited me.