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                                   Newsletter 39
Summary of Contents

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TipOfTheWeekTop Tax Tip


If you are about to invest in a new car, computer or any other business equipment, have you considered the best time to buy them and the best way to pay for them?

Tip: You will get tax relief a lot quicker if you make the investment shortly before rather than shortly after your business year-end. Speak to your professional advisor.

 

 

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?  

 

Or, to get more specific advice, have a browse through our new Tax Helpsheets!  

 



Questions that Change Your Mind

  

"It is our duty as men and women to proceed as though limits to our ability do not exist." (Philosopher Teilhard de Chardin.) If you knew you could do it, what would you do? 
 

 

Andrew Sercombe

[email protected] 

Powerchange - proactive health psychology  

 

QuoteOfTheWeekQuote Of The Week

   

Always bear in mind that your own resolution to succeed is more important than any other.  

 

 

 

Abraham Lincoln


JokeOfTheWeek

Joke of the Week

 

 

An accountant knocks on the door of his doctor's surgery and walks in.

 

"Hello, doctor. Please help. I just don't know what's wrong with me. Goodbye." With that he turns around and walks out.

 

30 seconds later he is back. "Hello again, doctor. Please help. I just don't know what's wrong with me."

 

The Doctor looks up from his desk and says: "Mmm. I think you have a serious case of double entry."

 

 

We want you to be a part of your Newsletter,

so please send us your jokes!

  


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.

 

You can now also download Tax Helpsheets, tailored around specific elements of Tax. 

 

To have a look, click here.

 

 

Sponsoring the Brainteaser 

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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Greetings!    

 

The answer for the last Brainteaser competition (the missing numbers) is:   

512, 81, 1000 

 

Congratulations to Oliver Asha, from Acumen Business Law, who won a plant from Plants4Presents!   

 

This week's BrainTeaser is sponsored by Powerchange.  

BrainTeaser -  Number Mystery  

 

A man leaves his office daily at 5pm, gets on a local train to his town, and arrives at the station at 6pm. His wife reaches there at exactly 6pm in a car, to pick him up. This is a daily routine.

 

On a certain day he left the office at 4pm and forgot to inform his wife. He reached the station of his town at 5pm and started to walk towards his home. He met his wife on the way as she was coming to pick him up at the usual time. They drove back to home. That day they reached home 20 minutes earlier than their usual time.

 

For how long, in minutes, did he walk?

 

Click here to email us the answer!  

 

This week's BrainTeaser is being sponsored by Powerchange . If you would like to know more about the benefits of sponsoring our BrainTeaser, click here. 

 

  

Tax Changes 6th April 2011 - How Will They Affect You?

 
The tax and welfare changes that come into effect today will cost British houeholds �2.3bn this year, according to estimates by Capital Economics.

 

Even though lower-earning taxpayers will be better off in the 2011/12 tax year, today is being dubbed 'Worse-off Wednesday' for the higher earners who will see their earnings reduced by �500m when inflation is rising.

 

The average Briton will get an increase of �1,000 to the personal allowance, meaning that they can earn �7,475 before paying any income tax.

 

It's been estimated that around 1.7m people earning below �21,000 a year will be �250 better off.

 

However, there's not many benefits for higher earners, as the threshold at which they start paying the Higher Tax Rate  is reduced from �37,400 to �35,000 above the personal allowance.

 

National Insurance contributions are also going up by 1%, although there will be an increase in the number of exempted low earners; because of a rise in the threshold.

 

Capital Economics UK economist told Sky News:  

 

"I think it's pretty unambiguously bad for economic growth because these people (higher earners) spend a lot of their income.

 

"Therefore consumer demand is going to weaken and economic growth is going to weaken because consumer demand makes up two-thirds of the economy."

 

To read the rest of this article, click here.  

Client Spotlight - Powerchange

   

Hi, I'm Andrew Sercombe, Managing Director and Founder of Powerchange Ltd.  


Over the last ten years I've been selling questions. Subtle, surprising, questions that have changed how our Powerchange clients think and behave. Questions that help people buy and sell, connect and communicate, develop themselves and others - and live well. Questions that go way below the surface and get to the core of what you and your world are about.

When I started I had no idea where this road would take me. I was unemployed, desperate, on government benefits, and doing my best to find a future that would work for me. I've learnt a lot!

Since those tough days I've coached countless people, had several books published, been on live radio many times, spoken to audiences worldwide, trained hundreds of coaches in our coach-training programmes, developed a franchise model, and produced what our clients tell us are some of the most effective (and liberating!) coaching techniques and materials available today. It's utterly rewarding, and fun too.

I work on the basis that people are amazing, and if you liberate a person's thinking, their lives start to change for the better - straight away, automatically. It is usually a person's thoughts that are the biggest roadblocks to their personal prosperity and happiness, and to their business growing. Most of us know that really, but never do anything about it. Today you can. 

For the price of a coffee and croissant:
If you'd like a face-to-face two hour coaching appointment (this would normally cost about �400) for the price of a coffee and croissant, send me an email  describing what you'd most like to change in your personal or business life. Just a few lines. I'll select a worthy winner, and I'll also do something special for EVERYONE who responds so you don't need to miss out. This also applies to your immediate family and close friends. Just have them quote 'Keepers'. Visit the website for more info, or call me direct.

Powerchange. A different coaching experience.

Direct: 07771631945
Office: 01903 744399
Contact us at: www.powerchange.com

Fee Protection

Investigations are getting more and more common as the Government tries to crack down on tax avoidance.

 

You may not be avoiding tax, but that doesn't mean that HMRC won't investigate you if they find an anomoly in your accounts.

 

Which is why we're now offering a new service, called 'fee protection'. It's a sort of insurance against tax investigations.

 

As part of the Fee Protection, you get cover for reimbursement of costs up to �75,000 in the event of:

 

  Income Tax Self Assessment Full & Aspect Enquiries

  Corporation Tax Self Assessment Full & Aspect Enquiries

  HMRC Employer Compliance Disputes

  HMRC VAT Disputes

  IR35 Disputes 

  PAYE & VAT Pre-Dispute Cover

  Schedule 36 reviews including:  

- Real Time Record Reviews

- Attendance at routine compliance visits

- Dealing with routine correspondence following a

  compliance visit

- HMRC requests for the production of documentation

- Intervention type letters

 

Important: If you are a member of a professional body, for example Sussex Enterprise or The Federation of Small Businesses, Fee Protection is sometimes included in their packages, so it is worth checking if you have it or not before phoning. The same goes for your business insurance as well.

 

If you want to learn more about Fee Protection, please give Chris a call on 0800 612 2008. 


Late Self Assessment Returns - Fines will rise sharply, says HMRC

 

From now on, anyone who files their tax return late will have to pay much higher penalties than before.

 

Previously, filing your return after the annual 31 January deadline would lead to a �100 fine.

 

Now, extra fines will ratchet up at a rate of �10 a day, leading to penalties of hundreds of pounds.

 

Another big change to the penalty regime is that the fines won't be cancelled if the taxpayer owes no money to HMRC, because there was no extra tax to pay or because it had been paid.

 

"There are always a small number of people who have avoided filing or paying on time," said an HMRC spokesman.

 

"HMRC spends a lot of time pursing late returns and getting involved in unnecessary appeals work.

 

"The old �100 penalty was not much of a deterrent and these new penalties, which increase over time, will get people to submit returns as soon as possible," the spokesman added.

 

"No get out of jail"

 

Click here to read the rest of this article. 

ComedyComedy Zone

   

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Ben & Chris







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