Greetings!
Happy New Year!!!
2010 is a significant landmark for e-Financial Management (e-FM) as it celebrates its 10th anniversary of trading. Since it first opened its doors to clients in 2000, e-FM has grown from a small business in Luton to a fast growing company with regional presence across the UK and clients in various parts of the world.
By providing a wide range of services to SMEs on a flexible pay-as-you-go platform, e-FM has given small businesses access to specialist financial management services which they would otherwise, be unable to afford in-house. Our Finance Director, Financial Controller and Bookkeeping Services are provided on an insourced or outsourced basis, and our flexible model ensures that the company provides the most cost-effective yet, efficient solution for clients.
Ten years on, e-FM is still providing bespoke services to clients and is consistently striving to improve its service quality at regional levels. With offices in Newcastle, Manchester, Birmingham and Luton, our services have become more accessible to a larger section of the SME community; and while we make our services available to new clients, we realize our ten year milestone was largely possible due to the patronage of our existing loyal clients, people who recommend us to them, our staff and former staff. Thank you ever so much!
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| Online Filing |
 Paperless VAT returns are due to take effect from April 2010 for all VAT registered businesses with a turnover of £100,00 or more and for all newly VAT registered companies.
All employers will be required to file their Employer Annual Return (P35 and P14s) online from the 2009-10 tax year onwards. The 2009-10 Return is due by 19 May 2010.
End of year PAYE forms will have to be filed online byApril 2010 at the latest, and filing in-year forms online will become compulsory from April 2011 onwards.
The main change to managing your Corporation Tax will be that, for returns due after 31 March 2011, you'll need to supply your Company Tax Return and supporting documentation in Extensible Business Reporting Language (XBRL). You'll need to make sure your software can do this ahead of the deadline dates.
Filing online and paying by direct debit can save your company a significant amount of time. e-FM are happy to help with setting up the new services. Kindly contact us for more information.
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| Reversal Of VAT Rate |
 The temporary cut in VAT has now been reversed and companies are making individual decisions on when to pass on the full rate of VAT at 17.5% to customers.
With sales tax previously slashed to 15% to boost consumer spending, some companies have decided to hold on until later in the year before passing on the extra 2.5% to customers, just to encourage buyers to make more purchases during this period.
For more information about how this VAT change may affect your systems and processes, and modifications you may need to make, kindly contact us at clientcare@efm.uk.com
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| State Pension Age and NIC |
Regulations around the provision of State Pensions are changing and the implications vary, depending on age, sex and qualifying years gained through National Insurance contributions. Those already claiming benefits are largely unaffected, other than for increases to basic pension amounts which will no longer rise in line with prices, but with earnings and will take effect between 2012 and 2015.
The current State Pension age is 65 for men and 60 for women. This age, however is changing for women, and will increase to 65 between 2010 and 2046. For women born on or after the 6th of April 1959, the State Pension age will increase gradually to 65 between 2010 and 2020.
To currently qualify for a full basic State Pension, a man would need 44 qualifying years and a woman, 39 qualifying years. For those who reach State Pension age on or after 6 April 2010, you will need 30 qualifying years for a full basic pension. Additional voluntary contributions may be made to improve your State Pension. For those considering deferring their claim to State Pensions, you need to be aware that if you have an adult dependent, there are changes affecting your entitlement to future benefits.
It is a good idea to apply for a State Pension forecast to determine your current number of qualifying years. The application for this service may be made by calling 0845 3000 168 or you may visit this site to apply online:
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This year...
New services are being planned for 2010. Watch this space! You can also join our social networks.
Follow us on twitter! https://twitter.com/efmuk
Read our blog! http://efmuk.blogspot.com
Client Care
e-Financial Management Limited |
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| Regional Contacts |
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London and North Home Counties
Gary Jesson
Luton
0845 1299900
01582 516300
North West
Maurice Scott
Manchester
0845 1299909
0161 9186784
North East
Malcolm Holloway
Newcastle
0845 1299905
Midlands
Ruth Thompson
Birmingham
0845 1299906
07795 450754
ruth@efm.uk.com
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