Keepers
 Keepers Newsletter #10
16th December 2009

Dear ,

Each week we try and save you some money, and this week's no different; lower down in this issue, you will find a section about Flat-Rate VAT, and also some guidance on claiming back VAT on Christmas gifts sent to your clients.

 
     Summary of Contents 
         
      Client Spotlight
         National Insurance
     Self Assessment Explained
     Does your Accountant?
                       Flat Rate VAT
                       Christmas Gifts & VAT
                      
                      
     
Client Spotlight -


Secure Windows is a family run business based in Newhaven catering for all your double glazing needs around the south east, having over twenty five years of experience in the Double Glazing Industry as a window and door manufacturer.

 

Secure Windows Ltd manufacture and install windows, doors, bi-fold doors, Patio doors and conservatories and also supply direct to the trade specialising in both Aluminium and PVC-u.

The company also manufacture shop fronts and all your commercial needs. 

 

Secure Windows Ltd are members of  FENSA and Buy with Confidence.

 

What makes us special

When planning your replacement windows and doors you want a style that suits your home. You want windows that will enhance your property as well as being secure and easy

to maintain. Here at Secure Windows we can fulfil your order.

We manufacture all our own products in our local factory in Newhaven. The choice in both Aluminium and PVC-u is vast and we can help design windows to suit your requirements. Our windows will offer Strength, Security, Quality, Versatility and Safety. Windows now have to comply with strict legislation.

We pride ourselves on the quality of our product. Customer satisfaction is important to us. A well made product installed to a good standard means a happy customer and a job well done.



Secure Windows Ltd is an approved trader of Buy with Confidence. Buy With Confidence is run by East Sussex Trading Standards. The Buy With Confidence scheme puts consumers in touch with approved traders who have agreed to provide high standards of customer service, including dealing promptly with any complaints. All our fitters are CRB checked giving the customer piece of mind.



We hope we have given you a positive feel to the kind of company we are, & the way we like to do things.  We understand the need for our customers to feel confident. So in the unlikely event that the company should cease trading, we offer this insurance backed guarantee.

Secure Windows Ltd provide a 10 year insurance backed guarantee to all supply & fit customers. This guarantee is through the Glass & Glazing  Federation.

 

What does it cover

Should the company cease trading, your deposit will be covered, as will all work in progress. So you can be assured your money is safe from the very start.

On completion of installation you are covered for up to £25,000 or the contract value for up to 10 years. (terms & conditions apply).


Here at Secure Windows we are always looking forward. In the past year we have had to think about change due to the climate we find ourselves in. After many years of manufacturing PVCu we decided to start manufacturing Aluminium. Last April we moved premises into a larger factory allowing for future growth.

Over the past 6 months our staff have been on numerous training sessions to smarts in Bristol learning the different aspects of manufacturing with Aluminium. This training is on going and will continue in the future keeping us up-to-date with any new products that come on the market, and will keep us ahead of our competitors.

Throughout the past months we have manufactured all aspects of Aluminium from Shop fronts, schools, Bi-fold doors, windows, patio doors and more.

This has helped us to increase our client base and sales.

As a company we understand the need to grow, as we strive to offer our customers as wide a range of products manufactured to a high standard, produced locally for a customers convenience.

Being a local company means we can offer that personal touch and also employ people from the local area.

We strive to achieve a reputation for quality.




After many years of being with a well known large reputable accountant, we were approached by Keepers.

After much discussion we decided to make the change, and have been more than happy with the service.

Keepers have given us what we as a company we strive to achieve, that personal touch and a feeling that they really want to help you succeed. They have been more than helpful giving advice when needed and keeping us informed of any changes.

I would certainly recommend them. Thank you Keepers!


CONTACT DETAILS :-

Secure Windows Ltd
Unit 3 Newhaven Industrial Park
Beach Road
Newhaven
BN9 0BX

Phone    01273 514456
Fax        01273 617010
Email    securewindowltd@btconnect.com
Web      www.securewindowsltd.co.uk


















Flat Rate VAT

Note: These rates are from January 1st 2010 onwards

Alongside the standard VAT rules, some small businesses may be better off by operating within the flat rate VAT scheme, which has been running since 2002.

The main aim of the flat rate scheme is to reduce the cost of complying with VAT obligations by simplifying the way small businesses calculate their VAT.

In essence, instead of paying Customs the total VAT charged on invoices minus any input VAT you may reclaim, you calculate the fixed percentage of your gross turnover and pay that amount to Customs each year.

The fixed rate VAT percentage varies according to the type of business you run; a travel agency would pay 8%, whereas an accountant or IT consultancy would pay 11.5%

Have a look at the table below to see if you could benefit from switching to a Flat Rate VAT scheme.


** Labour-only building or construction services' means building or construction services where the value of materials supplied is less than 10 per cent of relevant turnover from such services; any other building or construction services are 'general building or construction services'

If you think it may be worthwhile switching to Flat Rate VAT, or would just like some more information, please visit our website or call us on 0800 612 2008.

Does your Accountant;

  • Work to fixed fees?
  • Aim to complete the work in 4 weeks?
  • Reply to every telephone message the same day?
  • Keep you fully informed on the progress of your accounts?
  • Point out areas in your business that you could improve in?
  • Constantly look for new ideas/innovations to help your business?
  • Refer their contacts to you when they can benefit from your services?
  • Invite you to regular client Networking events?
We do!!

If you would like to know more about us, click here
Christmas Gifts & VAT

This section is about how you can claim back VAT on gifts sent to your clients.

The Taxman's website says that you can't claim tax relief for the cost of promotional gifts unless they cost £50 or less, and carry some obvious advertising. It turns out that's only half the story; so what's the full story?

Regardless of whether it's a gesture of goodwill at Christmas, or a sales promotion, gifts have been part of business practice for a long, long time. So you would have thought that the Taxman would have a consistent approach to these by now. Well, unfortunately, he doesn't.

We spoke to a few people who should be 'in the know', and found that the general view was that to get tax relief, and reclaim VAT on the cost of a business gift, it had to cost £50 or less, carry 'conspicuous advertising', and not be tobacco, food or drink.

There are no restrictions on business gifts for VAT purposes. You're allowed to reclaim all of the VAT you paid on the cost of these just as you would for any other purchase. Tip: If you've been caught out by the 'urban myth', and failed to recover VAT on business gifts, you have until 31st March 2010 to recover any VAT paid on or after 1st April 2006

The Trap: If the cost of the gift is above £50, you must pay output VAT as if you had sold it for the same amount you bought it for. The output VAT has to be included on the return form covering the date on which you gave it away. But, by concession, if you prefer, the Taxman will allow you to simply not reclaim the VAT you paid on the purchase.

VAT recovery isn't restricted to promotional items, but can also include the purchase of goods to be given away for a variety of business purposes. it could be retirement presents, employee long service presents, employee Christmas presents, or other employee incentive schemes. Tip: When considering the £50 limit, you can ignore the cost of extras such as Postage & Packing.

If you would like more information on this subject, please either click here or give us a call on 0800 612 2008
National Insurance - A Map Through The Maze

 All rates in this article are for 2009/10.

NIC for Employees

For employees Class1 National Insurance (NI) primary contributions are deducted from their salary each month as part of the PAYE system.

They are paid on earnings between £110 and £844 per week at 11% and then an extra 1% on any earnings above this.

The rate of NIC paid by employees is affected by whether you are contracted out of SERPS or S2P as it is now called (the State Second Pension Scheme) in which case a reduced rate is payable. If the employee has contracted out of SERPS and into a salary-related scheme, then at the basic level the NIC rates are reduced by 1.6% for the employee and 3.7% for the employer. For money-purchase schemes, the employee's reduction is still 1.6%, but the employer's reduction is 1.4% and an additional age-related payment is made to the scheme by the NICO.

However, if an employee contracts out of SERPS into a personal pension, the full NI contribution has to be paid, but a rebate is then paid by the ...more

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Ben & Chris