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Top Tax Tip

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

Faith in a better future is fundamental to emotional health. Benjamin Disraeli revealed his when he announced, "Something will turn up!" What attitude will help maintain and improve your own emotional health, and that of those around you?
    

Quote Of The Week

Joke of the Week

The Equation

Engineers and scientists will never make as much money as business executives. Now a rigorous mathematical proof has been developed that explains why this is true:

Postulate 1: Knowledge is Power.

Postulate 2: Time is Money.

As every engineer knows,

Work = Power * Time

Since Knowledge = Power, and Time = Money, we have:

Work = Knowledge * Money

Solving for Money, we get:

Work / Money = Knowledge  

Thus, as Knowledge decreases, Money increases, regardless of how much Work is done.

Conclusion: The Less you Know, the More you Make.

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BrainTeaser -  Hot Dogs!  

A hot dog vendor at a soccer game sells one half of his supply of hot dogs during the first half of the game. During intermission, he sells a total of five hot dogs.  

During the second half, he sells three eighths of his original supply. He is left with only four hot dogs. How many did he have to start with?

Click here to email us the answer!  

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

WARNING! Scam Emails From HMRC Again!

 As you may recall, we told you around this time last year about scam emails originating from what would seem to be HMRC.  

We've been informed that these have started gathering pace again, and more and more people are getting caught up in this scam.

Please click here to learn more about scam emails from HMRC. 

Client Spotlight -Audio 7 

Based in Ockley in Surrey Audio 7 consult, we design and install home cinema systems and integrate automation systems into homes across London, Surrey and the South.

Established In Feb 2003 from a retail shop in Horsham town centre we moved to Ockley in 2008.

My background is in marketing and advertising working for Unilever brands such as Flora and PG Tips, Suzuki GB and various full service advertising agencies. Being disillusioned with the industry I joined with my brother to start Audio 7. Matt has worked in the residential electronics industry since leaving school and has a wealth of knowledge relevant to Audio 7's activities.

We don't do offers really, every project is priced on an individual basis as every project is different. Sometimes there are deals to be had on specific products that make up a system and we pass on those promotional deals when available.

Our main competitors are companies are probably unheard of to most readers. A company called Finite Solutions are my main target at the moment, they have recently opened an office in London being based in Leeds. They do some nice projects and have a good marketing resource.  

Another company called FAB AV do well, winning a lot of industry awards. We believe we are a bit special because of the relationships we build with clients. We approach each project as if it was a system being installed into our own homes and work with the client to get the best performance from the hardware they purchase.

Our 5 year plan. We want to win a CEDIA Award. We were down to the shortlist of 5 Finalists last year from companies across Europe, Middle East, Africa and Russia and unfortunately, although we feel we had a potential winning system this year, the client did not give us permission to use his home. Financial goals are to increase turnover by 50% of current levels while maintaining our current profit margins

It's early to say how Keepers have helped, but they instantly saved me money in accountancy fees and are working with us to make our payroll more tax efficient.

Client Testimonial

"I was very pleased with the friendly professional support I received from Audio 7. From the start they gave me good advice, and I found them more responsive and helpful than other competitors I contacted for quotes. They then had to overcome a number of technical challenges to install my system. They did so cheerfully and tenaciously. I am very happy with the system and would be happy to recommend them"

www.audio7.co.uk

01306 621144

info@audio7.co.uk

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 anomaly in your accounts.

Which is why we offer a service/product called fee protection. See below for more details. 

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. 

How Will The Changes To Personal Allowances Affect You? 

As you probably already know by now, the Personal Allowance changed from 6^th April 2011.

Previously, you could earn up to £6,475 completely tax-free. As of 6^th April 2011, you can now earn up to £7,475 per tax year.

If you are the director in a limited company, and pay yourself through PAYE, if you currently pay yourself the maximum you can without having to pay income tax on it, then the amount you can pay yourself tax-free is increasing from £475 per month up to £589 per month.

To show you how this could affect you if you're an employee, see the example below.

Mr A is an employee of Keepers. He earns £20,000 per year before tax. (Example does not include National Insurance Contributions)

Click here to read the rest of this article, and learn more about

Personal Allowance 2011.