Advance notice – The office will be shut over Easter as follows:
Good Friday – 6th April
Monday 9th and Tuesday 10th April.
budget2012_complete Please find the government paper as delivered this afternoon.
Hot off the press………………….
On 1st April 2012 all VAT registered businesses will need to submit their VAT returns online.
This marks an extension of the current rules which exclude businesses with a turnover of less than £100,000. It will apply to all accounting periods starting after April 1st 2012.
You should note that HMRC will not send you a return automatically, you need to register. Not registering will not constitute an excuse for not submitting VAT returns!
To register visit the HMRC website https://online.hmrc.gov.uk/registration/
This week marks the first 12 months of occupation at 7 Billing Road, Northampton. It seems like yesterday……………
Please be aware of the 2011 / 2012 PAYE year end timetable, for those clients who employ staff:
– Year end return (P35) to HMRC by 19th May 2012
– Staff forms P60 to the employees concerned by 31st May 2012
If you have specific queries in connection with PAYE completion, please contact Mrs.Cath Brett at the Northampton Office.
Please be aware of the Rural Economy Grant, a new funding source offering upto 40% of project cost for,
‘improving the competitiveness of agriculture and forestry’.
(Whatever that means)
The minimum grant is £25,000, so if you have a particular scheme in mind this may well be a worthwhile application.
Further details may be had from the DEFRA website.
The January 31st Self assessment deadline will shortly be upon us.
The £100 fine will now apply to all returns not delivered by the due date, IRRESPECTIVE whether tax is payable or not.
There are also other nasty penalties if still not delivered by 30th April 2012.
So, the best plan is clearly to get the information to us ASAP so that we are able to meet the deadline.
TARRY NO LONGER – IT WILL BE COSTLY!
It has been well flagged that the AIA is being reduced from £100,000 to £25,000 on 5th April 2012.
There is another budget to go before the reduction comes into play, but please note that it is also subject to your financial year – not just the date the expenditure was incurred.
So, for instance, if you have a March/April 5th year end life is simple.
If however, your year end is, say 30th June, then your AIA entitlement for 30th June 2012 becomes:
(9/12 * 100,000) + (3/12*25,000) = £81,250.
ABOVE ALL, it never makes sense to spend £1 to save 40p, so do not let the legislation change drive you to spend money that otherwise you might save. IF, HOWEVER you need to change equipment, please be mindful of the above. You may not get £100,000 * 100%.
The partners are pleased to announce the arrival of Amelia on 27th November 2011. Amelia is the daughter of Caroline and Paul Boot (and granddaughter of Helen Liptrott). Good wishes to all.
The partners welcome both Natalia Khudovekova and Alison Goodwin to the practice. Both commence work on October 17th. Natalia hails from 500 miles east of Moscow, wheras Alison is a little more local, coming from Abington, Northampton.
At the same time Mrs.Cath Brett is promoted to manager of the non- agricultural part of the practice.
Congratlulations and good luck to all.
