Dear <<First Name>>,
As the political landscape continues to change and evolve in the UK, are you keeping track of how these developments could affect your business? Being aware of potential new policies and programmes will help you to ensure your business is ready to adapt and respond in a way which will help your business thrive in any eventuality.
As well as keeping abreast of new rules and regulations, it also pays to be aware of current deadline dates in the financial calendar. According to his spokesperson, Labour Leader Jeremy Corbyn doesn't have an accountant and was subsequently fined £100 this year for filing his own tax return a week late. That's why we always
include key dates at the end of our newsletter to help you ensure this doesn't happen to you!
Have a question that's been bothering you for a while? Please do reach out and speak to one of our accountants. Call us on 01788 577 613 (Rugby) or 01908 564 701 (Stony Stratford) or just reply to this email to set-up a time to chat.
Article Spotlight: Top 6 Accounting Questions that start-ups ask
You may or may not be aware that the Institute of Chartered Accounts in England and Wales (ICAEW) runs a Business Advice Service (BAS) for its members. Accountants, like ourselves, who advise business start ups join BAS; and businesses looking for advice specifically searching for a chartered accountant can be put in touch with a member of the BAS scheme in their local area.
We highly recommend having a look at the BAS blog – it has a lot of good information and answers to popular questions for start up businesses: www.businessadviceserviceblog.com.
The ICAEW has done a survey and found that there are six key accounting questions that most people starting out in business usually ask. It’s a good check list for any start-up:
1. What structure is best for my enterprise? Sole trader, partnership or limited company?
2. What records do I need to keep – for HMRC and VAT purposes?
3. Who do I need to notify about my business and when?
4. What expenses can I claim against tax if I am working from home?
5. When will I pay my first tax bill?
6. When do I need to involve an accountant and how much will they charge to prepare accounts and file a tax return?
In our experience these are very much the questions we go through with a potential start up at our first meeting. Understanding and doing the basics properly from the beginning, makes it much more likely that a new business will flourish. Get these right, and you will free up more time for the aspects of your business that you love, like producing and selling your products or services.
If you are thinking of setting up a new business, we are here to help. The first meeting is free of charge and we'll discuss how we can help and support you on this very important journey.
Client Spotlight: The Cystitis and Overactive Bladder (COB) Foundation
The COB Foundation is a national charity based in the West Midlands dedicated to helping people live positively with bladder illness through the provision of personalised care.
A small team of four, work together to make sure their members have a voice and their conditions are taken seriously, and they have excellent relationships with specialised medical professionals and corporate organisations to encourage research and knowledge sharing.
The resources they provide include an advice line, website www.cobfoundation.org, a magazine ‘Your Bladder Health’, recipe book and diet advice and many other information leaflets. COB also runs an active Twitter account and Facebook page.
COB’s Business Director, Suzanne Evans, said: “We have used the valuable services of Clifford Towers for many years; in fact ever since we were a fledgling charity based in the same road in Stony Stratford. We thank them for their support as we have expanded over the last 20 years”.
Here at Clifford Towers, we’re proud to be able to support such a worthwhile charity and wish them continued growth and success.
To contact the COB Foundation for further information please call 0121 702 0820 or email firstname.lastname@example.org
Deadline Dates to Remember:
31 August – Accounts to be filed at Companies House if your company year end is 30 November 2015.
1 Sept – Corporation Tax payment due to HMRC if your company year end is 30 November 2015.
There are no deadline dates this month for NIC, PAYE or Self Assessment.