 Top Tax Tip
Have you explored how to use pensions to cut the tax bill on wages and salaries?
Tip: Under what is known as 'salary sacrifice' schemes, it is possible to save up to 23.8% in National Insurance contributions on the pension contributions made.
These savings can, of course, be shared between you and your staff so that everyone is better off.
If you need any help regarding this, please click here or ring us on 0800 612 2008
If you would like more Tax Tips, why not download our specially designed Tax Kits?
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Quote Of The Week
| A person without a sense of humour is like a wagon without springs. It's jolted by every pebble on the road.
Henry Ward Beecher
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| | | Joke of the Week
What do accountants do for fun?
Add up the telephone book.
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Free Useful Business Forms
| We have a new resource on our website, where you can get all the forms you need for dealing with the Taxman and Inland Revenue.
To have a look, click here.
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| We want you to be a part of your Newsletter,
so please send us your jokes!
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Sponsoring the Brainteaser
|  | | If you are interested in sponsoring our Brainteaser, click here to learn more about the benefits of doing so, and how it works. |
| Article Features? | | | If there is any content that would like to see feature in this Newsletter please contact us and we will be only to happy to discuss this.
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| If you found this information valuable, please forward this email onto a friend or colleague.
If you were forwarded this email, you can subscribe here
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Greetings!
The answer for the last Brainteaser competition is: 
He uses twenty-one £1 coins,
twenty-one 20p,
twenty-one 2p, and
twenty-one 1p.
Total: £25.83p
We would like to say a very big 'Well done' to Neville Smyrk from Bread and Butter Media who was the first to email us the correct answer.
This week's Brainteaser is sponsored by Heights Health & Fitness.
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BrainTeaser - Sum Day Soon!
Some people believe that January 1, 2000 is the first day of  the 21st century. Other people believe that the honour belongs to January 1, 2001. But everyone should agree that January 1, 2002 is the first "sum-day" of the new century- when you write out that date in standard notation, it becomes 01/01/02, and 1+1=2. More generally, a sum-day is a date in which the day and month add up to the year.
With that in mind:
A) What is the last sum-day of the 21st century?
And for those human calculators out there, try this one as well (just for fun!)
B) How many sum-days are there in the 21st century?
Click here to email us the answer!
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Arrange Your Finances Tax-Efficiently
Everybody pays tax on their individual earnings and assets. But, there are a number of ways you can reduce your liability, particularly if you are married or in a civil partnership, if you arrange your finances correctly.
Consider switching income-producing assets, such as shares, investment funds, bank and building society accounts and jointly owned property, into the name of the partner who pays the lower rate of tax. This way, you pay less tax on dividends, rent and savings interest. The general rule that jointly owned income is taxed 50/50 can be altered by making a specific election where there has been a genuine outright gift of assets. If you are unmarried, and transferring assets, you should be aware that this could potentially trigger a capital gains tax (CGT) bill.
If you want any help with this, either click here, or give us a call on 0800 612 2008.
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Claim For The Extra Costs Involved In Running Your Business
If you are self-employed, did you know that you can claim for the extra costs involved in running your business from home?
Well you can, and this includes lighting, heating, council tax, property insurance, repairs and even mortgage interest.
These costs can be offset against profits, reducing your overall tax bill.
You should be aware that if a part of your property, even a single room, is devoted entirely to your business then there may be a CGT (Capital Gains Tax) charge when the property is sold, so this needs to be considered carefully before a claim is made.
If you need any help with this, or just want to talk to someone in more detail, then please call 0800 612 2008 or click here.
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Client Spotlight - Heights Health & Fitness
Hi, my name's Sue, and I'm the Director of Heights Health & Fitness, in Burgess Hill.
We're a health club consisting of a gym containing state of the art equipment, and offer a wide range of memberships. We also have a fitness studio with a range of classes /beauty & physio clinic/sauna/personal training/ Fitvibe (vibration plate training) and Bootcamps (offsite) which are also available to non-members.
We are a limited company, and we've been trading since October 1997. I personally have over 25 years of experience in the fitness industry, and I specialise in Fitness and Remedial Therapy.
We are currently part of the change4life programme and the vouchers are available through Asda. As well as this, any Keepers customer who signs up for a membership with us, before the end of February 2011, we will waive your £60 start-up fee!
As an independent club our focus is our clients and their results so we offer individual attention work together within the team and with the client to get to the goal.
We haven't been with Keepers long; we changed to them because of the marketing and business support they offer, and also because they are local.
If you would like to learn more about us, please visit our website, or send me an email!
01444 239444
www.heightshealthclub.co.uk
enquiries@heightshealthclub.co.uk
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What's New
There's a new feature on our website that you should know about; on the right-hand side of every page, you will see a new box, called 'What's New'. In this box, you will find articles about what's been happening recently, and how it will affect you.
We will update it at least weekly, whenever we hear of something which could affect you; be it Tax, Business, or Marketing news, we will publish it on our website, and in turn, on our Facebook and Twitter pages.
So, if you aren't already following one of our social networking accounts, either do, or follow our website to keep up-to-date on the latest news affecting you.
To have a look, simply visit our website, and look on the right-hand side!
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 This is a post from our 'What's New' Blog.
From 1 April 2011 onwards, all companies and organisations will have to file their Company Tax Return online for any accounting period ending after 31 March 2010.
From the same date, companies and organisations will have to pay any Corporation Tax and related payments due electronically (for example by Direct Debit).
The rules on how you calculate the Corporation Tax you need to pay, or how to fill in the return itself, have not changed. Only the format of what you send and how you send it to HMRC are changing. How do the changes affect my company or organisation?If you have to prepare accounts under the Companies Act 2006, you must file your accounts and computations in a set format - Inline eXtensible Business Reporting Language (iXBRL).
If your company or organisation has to prepare accounts under the legislation governing certain financial institutions - such as  building societies, friendly societies and industrial and provident societies - you must also submit accounts and computations in iXBRL format.
Please note: The accounts template within HMRC's free software is not suitable for accounts prepared by charities. Until HMRC provides a template that is suitable, smaller charities can choose to send their accounts to HMRC in iXBRL format (using commercial software) or as a PDF. Follow the link below to find out more about what HMRC means by 'smaller charities' and what format is acceptable for their accounts.
If you run an unincorporated organisation such as a charity, club or society, or a charity which is incorporated under the Charities Act, you must submit your computations in iXBRL format. You can choose to submit your accounts in either iXBRL format or as a PDF.
But if your accounts show comparative figures from previous year's accounts, those previous year's figures don't need to be in iXBRL format.
iXBRL is an IT standard designed specifically for business financial reporting - not just tax filing. But don't worry, you don't have to be an IT expert to file online, your software will do the work for you.
To read the full article, click here.
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Comedy Zone - 'Street Accountants'
Note: Clicking on the play button will take you to the video; we couldn't embed the video in this Newsletter.
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