tag:blogger.com,1999:blog-77855550132801034362024-02-20T13:40:03.160+00:00Here are the latest updates...Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-7785555013280103436.post-40597101978277059352018-12-17T11:43:00.001+00:002018-12-17T12:00:31.290+00:00Farewell 2018. Hello 2019!<span style="font-size: x-large;">This year’s reminders and what to look forward to next year…</span><br />
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<span style="font-size: large;">Another year nearly over and a well-deserved rest beckons.</span><br />
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<span style="font-size: large;">So this month’s update is a little light reading on some of the useful updates you may have missed in 2018 and some exciting news to look forward to in 2019…</span><br />
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<span style="font-size: large;"><b>Making your life easier – new Monthly Fixed Fees Service</b></span><br />
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<span style="font-size: large;">Earlier this year, we introduced our new monthly fixed fees service to help clients review what accounting services were best for them, consolidate everything in one place and improve their cashflow through monthly budgeting (instead of receiving separate annual bills for different services). </span><br />
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<span style="font-size: large;">Not only that, the fixed fees service also helps you move to commercial (and compliant) software-based accounting in preparation for Making Tax Digital (currently due to come into force in the new tax year).</span><br />
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<span style="font-size: large;"><b>Keeping you safe – improved Tax Investigation Protection cover</b></span><br />
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<span style="font-size: large;">In attempts to increase their revenues, this year saw HMRC step up the number of compliance checks, enquiries and investigations conducted. This meant challenging accounts, tax returns and business records not just of companies, but individuals too.</span><br />
<span style="font-size: large;"><br /></span><span style="font-size: large;">That’s why we revamped our Tax Investigation Protection Service so that clients could still benefit from top-level cover but at considerably reduced rates; and so that in the event of HMRC starting a compliance check on you, you’ll have someone fighting your corner against them.</span><br />
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<span style="font-size: large;">The service is designed to reimburse the costs of your defence if you’re selected for enquiry, whilst at the same time providing you with the best possible representation – and assurance that you won’t have to concede to HMRC’s demands on a purely commercial basis. </span><br />
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<span style="font-size: large;">As well as handling everything from start to finish to ensure you get the best possible defence, your cover also means you won’t have to worry about any additional professional costs associated with the process.</span><br />
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<span style="font-size: large;"><b>Giving you more choice – a new office in East Hendred</b></span><br />
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<span style="font-size: large;">To complement our longstanding Wantage and Witney offices, in October we celebrated the addition of our third office in East Hendred (near Wantage). </span><br />
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<span style="font-size: large;">Not only does it now give you more choice on where to see us, it also ensures that our offices retain their small, local and inviting feel that clients tell us is so important. </span><br />
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<span style="font-size: large;">As we become increasingly established as a digital accountancy firm, it’s already become the hub for our Xero cloud accounting specialists (whilst Wantage also continues to offer Xero accounting and houses our audit, tax and payroll experts.</span><br />
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<span style="font-size: large;">The phone number hasn’t changed and 01235 770084 will get you through to both our Hendred and Wantage teams.</span><br />
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<span style="font-size: large;">Our new address is:</span><br />
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<span style="font-size: large;">Unit 3, The Old Estate Yard</span><br />
<span style="font-size: large;">High Street</span><br />
<span style="font-size: large;">East Hendred</span><br />
<span style="font-size: large;">Oxfordshire</span><br />
<span style="font-size: large;">OX12 8JY</span><br />
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<span style="font-size: large;"><b>Keeping you on track – it’s nearly Tax Return time!</b></span><br />
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<span style="font-size: large;">Don’t forget to submit your tax return! </span><br />
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<span style="font-size: large;">If you’re already sorted, congratulations on being so organised. </span><br />
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<span style="font-size: large;">If you’re still to submit, though, then you might like to know that Christmas Day and New Year’s Eve remain popular times for many! Please remember that any tax due should be paid by 31st January, including payment of any liability for 2017-18, and any payment on account due for 2018-19. A £100 penalty still applies for late submissions – even if there was no tax to pay or any tax due was paid on time.</span><br />
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<span style="font-size: large;"><b>Keeping you up to date – your 2018/19 Tax Tables</b></span><br />
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<span style="font-size: large;">If you don’t yet have one, we still have some free 2018/19 Tax Tables to give out. </span><br />
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<span style="font-size: large;">They conveniently give you all the key numbers in one place and include everything you need for the 2018/19 tax year, including:</span><br />
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<li><span style="font-size: large;">Personal and lifetime pension allowances, and basic and higher rate tax thresholds.</span></li>
<li><span style="font-size: large;">Dividend tax allowance.</span></li>
<li><span style="font-size: large;">Revised company car tax scales.</span></li>
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<span style="font-size: large;">And for anyone so inclined, they may even make an ideal last-minute Christmas present. Okay then, perhaps not.</span><br />
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<span style="font-size: large;"><b>Keeping it brief – Merry Christmas and a Happy New Year!</b></span><br />
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<span style="font-size: large;">So that’s it from us for this year. If you’d like any more information on any of the above or even something that we haven’t covered here, please get in touch!</span><br />
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<span style="font-size: large;">In the meantime, have yourself a very merry Christmas and all the very best for a happy, healthy and prosperous new year. </span><br />
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<span style="font-size: large;"><b>Until January...</b></span><br />
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Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-10352454253282510052018-11-14T11:04:00.002+00:002018-11-14T11:06:51.799+00:00It’s time for thanksgiving…<span style="font-size: x-large;">And reasons to be cheerful!</span><br />
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<span style="font-size: large;">November already! Really?</span><br />
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<span style="font-size: large;">Maybe it’s the changing of the season and traditional events like Halloween and Bonfire Night, but this time of year always make us a little reflective…</span><br />
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<span style="font-size: large;">…Reflecting on how busy the year’s been; reflecting on all the stuff still to do; but also reflecting on why we do it. </span><br />
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<span style="font-size: large;">And the answer’s pretty simple: because we enjoy it.</span><br />
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<span style="font-size: large;">And though we will admit that we find accountancy <strike>exhilarating</strike> <strike>intoxicating</strike> satisfying, there’s actually an even bigger reason….</span><br />
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<span style="font-size: large;">It’s because of our clients. Yes, you!</span><br />
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<span style="font-size: large;">Because without you, we wouldn’t be successful. And if we weren’t successful, we wouldn’t be good at what we do. Or very happy. </span><br />
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<span style="font-size: large;">So, with a thanksgiving of a different sort just around the corner, thank you – you give us reasons to be cheerful!</span><br />
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<span style="font-size: large;">And we want to give you reasons to be cheerful in return; well, at least with regard to your accounts service!</span><br />
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<span style="font-size: large;"><b>Here are some of the ways we like to show we’re looking out for you…</b></span><br />
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<span style="font-size: large;"><b>1. We’re professionally qualified.</b></span><br />
<span style="font-size: large;">This may be an obvious one, but not everyone is! As chartered accountants we’re officially trained and qualified to do what we do – properly and so that you always benefit from the right advice.</span><br />
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<span style="font-size: large;"><b>2. We’re registered and regulated.</b></span><br />
<span style="font-size: large;">Even though we’re qualified, we still need to maintain our professional registration to practise. It means we’re highly regulated and accountable to ensure high technical and ethical standards, as well as undertaking regular training to maintain CPD and keep up to date with the latest tax laws and initiatives.</span><br />
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<span style="font-size: large;"><b>3. We’re open, honest, fair and ethical.</b></span><br />
<span style="font-size: large;">Without the regulation above demanding it! It’s the best way to do business and, combined with good service, retain it. It’s why we’re transparent about our fees and flexible with our terms. It’s also why you’ll find us easy to talk to, never reliant on small print and, in the event of an issue, firmly committed to putting it right.</span><br />
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<span style="font-size: large;"><b>4. We’re continually adding value to make your life easier.</b></span><br />
<span style="font-size: large;">If new technology is available to give you a better service and make life easier as a client, we’re there! We were one of the first regional firms to invest in Xero cloud software so that we could provide clients with online accounting and real time updates. And having just introduced our new monthly fixed-fee service and with preparations well under way for a full-on digital approach with the introduction of Making Tax Digital in 2019, there’s even more reasons to look forward to hassle-free accounting. </span><br />
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<span style="font-size: large;"><b>5. You’re always our No.1 priority.</b></span><br />
<span style="font-size: large;">In today’s fast-paced world, resting on your laurels gets you nowhere. So, we’re constantly thinking about proactive ways we can help. For instance, if you need help cutting costs we can suggest ways of lowering your fees – from moving to monthly fees and payroll for better budgeting to providing training and support to transition from manual records or spreadsheets. </span><br />
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<span style="font-size: large;"><b>6. We take your security seriously.</b></span><br />
<span style="font-size: large;">Even before the GDPR came into force in May 2018, respecting your data and keeping it safe has always been important to us. It’s why we’re fully GDPR-compliant and invest in rigorous cyber security systems.</span><br />
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<span style="font-size: large;"><b>7. Your business is important, whatever its size.</b></span><br />
<span style="font-size: large;">We want all of our clients to feel that they’re receiving the best service. We work in big business and run as an SME, so understand the demands for each. So, whether you’re a sole trader or multinational, you can depend on our full attention and expertise.</span><br />
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<span style="font-size: large;"><b>8. We’re human!</b></span><br />
<span style="font-size: large;">And we have some personality to go with it – no AI or automated responses here! As a local business that’s active in the community with local causes and charity, it means we understand the importance of a close working relationship based on trust, consideration and going the extra mile where necessary. Quite simply, it’s not just about the numbers.</span><br />
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<span style="font-size: large;">It’s often said that business is all about relationships. It’s the people you deal with that make the difference. We can definitely relate to that. In fact, some of our customers have grown up with us.</span><br />
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<span style="font-size: large;">So, whether you’re old or new, thank you for being so loyal and thanks for being part of the family. </span><br />
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<span style="font-size: large;">As we approach the season of goodwill, you’ve certainly given us plenty of reasons to be cheerful. </span><br />
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<span style="font-size: large;">We hope you feel the same in return.</span><br />
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<span style="font-size: large;"><b>Until next month...</b></span><br />
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Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-78619532987134011232018-10-05T12:47:00.000+01:002018-10-05T13:10:39.582+01:00Good day. And here is the news.<span style="font-size: x-large;">It’s time for the CW Autumn Newsround…</span><br />
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<span style="font-size: large;">Have you put the kettle on?</span><br />
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<span style="font-size: large;">Good.</span><br />
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<span style="font-size: large;">Because here are the latest goings-on and happenings in the Chapman Worth, Oxon and tax worlds.</span><br />
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<b><span style="color: lime;"><span style="font-size: x-large;">Chapman Worth Hosts a Night at the Museum…</span><span style="font-size: large;"> </span></span></b><span style="font-size: large;"> </span><br />
<span style="font-size: large;">Are you local to Wantage and free next Tuesday 9th October at 6pm? </span><br />
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<span style="font-size: large;">Do you like chambers, commerce and charity? </span><br />
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<span style="font-size: large;">Then you’re cordially invited to attend next week's Chamber of Commerce meeting at Wantage’s Vale & Down Museum. It’s a free event and the perfect opportunity to network and socialise with other business leaders and professionals over a glass of your choosing and a cornucopia of canapés.</span><br />
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<span style="font-size: large;">And, as part of the evening's special feature, there's also the chance to keep up to date with community initiatives and learn more on how your business could benefit from local charity involvement. (Don’t worry, no one will be asking for donations or anything like that!)</span><br />
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<span style="font-size: large;">Jane Hanna OBE, and SUDEP Action CEO, will be talking about how this life-changing charity is raising epilepsy awareness and tackling Sudden Unexpected Death in Epilepsy through its <i>Prevent21</i> campaign.</span><br />
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<span style="font-size: large;">To find out more and to book your place, <a href="https://mailchi.mp/17f80058f885/dont-miss-your-october-chamber-meeting-637051">click here</a>.</span><br />
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<b><span style="color: lime; font-size: x-large;">We’ve a New Office in East Hendred! </span> </b><span style="font-size: large;"> </span><br />
<span style="font-size: large;">And then there were 3…</span><br />
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<span style="font-size: large;">In addition to our offices in Wantage and Witney, we’ve now opened a third one in East Hendred (near Wantage). Not only does it give you more choice on where to see us, it also ensures that our offices retain their small, local and inviting feel that clients tell us is so important. </span><br />
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<span style="font-size: large;">Our Hendred office is now the hub for cloud accounting specialists with everyone there Xero-certified, whilst Wantage continues to offer Xero specialist services and also houses CW’s audit, tax and payroll experts.</span><br />
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<span style="font-size: large;">The phone number hasn’t changed and <b>01235 770084</b> will get you through to both our Hendred and Wantage teams.</span><br />
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<span style="font-size: large;">And when you do come to see us in our new home, you’ll be pleased to know that there’s plenty of free parking right outside the door, as well as an excellent village shop, post office and – just in case – a couple of very decent pubs all within a two-minute walk:</span><br />
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<b><span style="font-size: large;">Unit 3, The Old Estate Yard</span></b><br />
<b><span style="font-size: large;">High Street</span></b><br />
<b><span style="font-size: large;">East Hendred</span></b><br />
<b><span style="font-size: large;">Oxfordshire</span></b><br />
<b><span style="font-size: large;">OX12 8JY</span></b><br />
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<span style="font-size: large;">Come and say hello soon!</span><br />
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<b><span style="color: lime;"><span style="font-size: x-large;">2018 Budget Statement Announced for Monday 29th October </span><span style="font-size: large;"> </span></span></b><span style="font-size: large;"> </span><br />
<span style="font-size: large;">To avoid a clash with the potential fall-out from the final Brexit negotiations scheduled for mid-November, the Budget Statement has been brought forward. </span><br />
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<span style="font-size: large;">While all will be revealed by the Chancellor at the end of the month, there’s talk that we might see some of the following during the April 2019 or April 2020 tax years.</span><br />
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<b><span style="font-size: large;">-<span style="white-space: pre;"> </span>A possible second mini-Budget to adjust economic and </span></b><b><span style="font-size: large;">fiscal forecast figures should there be a no-deal Brexit.</span></b><br />
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<b><span style="font-size: large;">-<span style="white-space: pre;"> </span>No business tax cuts in order to pay for Brexit and other </span></b><b><span style="font-size: large;">commitments (i.e. NHS and social care).</span></b><br />
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<b><span style="font-size: large;">-<span style="white-space: pre;"> </span>No guarantee that Making Tax Digital for VAT will be </span></b><b><span style="font-size: large;">ready in time for April 2019. </span></b><br />
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<b><span style="font-size: large;">-<span style="white-space: pre;"> </span>The outcome of how the IR35 anti-avoidance tax </span></b><b><span style="font-size: large;">legislation will be amended and whether it will be </span></b><b><span style="font-size: large;">implemented by spring 2019.</span></b><br />
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<b><span style="font-size: large;">-<span style="white-space: pre;"> </span>The 5p plastic bag tax in England may increase to 10p and </span></b><b><span style="font-size: large;">its scope widened to include all shops (not just businesses </span></b><b><span style="font-size: large;">with over 250 employees). </span></b><br />
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<span style="font-size: large;">Watch this space…</span><br />
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<b><span style="color: lime;"><span style="font-size: x-large;">Accountant Found in Bath with Client’s Wife </span><span style="font-size: large;"> </span></span></b><span style="font-size: large;"> </span><br />
<span style="font-size: large;">Allegedly. This is, in fact, one of the reasons given to Companies House for failing to file business accounts on time.</span><br />
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<span style="font-size: large;">Other gems include ‘goats ate my accounts’, ‘pirates stole my accounts’ and ‘a volcano erupted and prevented me from filing’.</span><br />
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<span style="font-size: large;">Slugs (yes, eating again) and betting shops (‘we delivered the accounts to the betting shop next to Companies House’) were also used to earn a reprieve by companies, along with: <i>“My company was more successful than I thought it would be, so I was too busy to file.”</i></span><br />
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<span style="font-size: large;">Regardless, if you don’t file on time (and haven’t requested an extension due to exceptional circumstances) you risk receiving a late penalty fine. And if accounts are filed late two years in a row, the late filing penalty doubles.</span><br />
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<span style="font-size: large;">Unless you’ve been abducted by aliens, that is.</span><br />
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<b><span style="color: lime;"><span style="font-size: x-large;">MTD for Business: Making Tax Digital or Mangling The Deadline…?</span><span style="font-size: large;"> </span></span></b><span style="font-size: large;"> </span><br />
<span style="font-size: large;">Plenty of concern still surrounds the progress of Making Tax Digital for Business and whether, nearly 2 years on from when it was mooted in March 2017, it will be ready for April 2019.</span><br />
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<span style="font-size: large;">Whilst, theoretically, the digitalisation of tax administration makes perfect sense and offers myriad benefits, the practicalities of making it viable in time aren’t faring so well.</span><br />
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<span style="font-size: large;">Even following a 12-month delay to MTD’s initial rollout, discord remains around the latest rush to make it ready – and especially around whether HMRC, businesses (both large and small) and software providers are adequately prepared.</span><br />
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<span style="font-size: large;">Roll on April 2019. Could be interesting…</span><br />
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<span style="font-size: large;">So, there you have it.</span><br />
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<span style="font-size: large;">It’s a good day from us. And it’s a good day from them.</span><br />
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<b><span style="font-size: large;">Until next month...</span></b><br />
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Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-27656828231997769012018-08-31T10:53:00.000+01:002018-08-31T11:31:15.091+01:00SAVE THE DATE! Tuesday 9th October 2018…<br />
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<span style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="font-size: x-large;">And yes, there’ll be a buffet and drinkypoos!</span><span style="font-size: 16pt; font-weight: bold;"><o:p></o:p></span></span></span></div>
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<span style="font-size: large;">Okay, we recognise we’re nowhere near October yet but, when we’ve got something like this lined up, we know how important it is to get the message out early. After all, we wouldn’t want you to find out too late – or worse, miss out altogether!</span><br />
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<span style="font-size: large;">So, as the current Chair of Wantage & District Chamber of Commerce, please treat this as a personal invitation to all Chapman Worth clients from Matthew Chapman on behalf of the Chamber.</span><br />
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<span style="font-size: large;"><b>Ah, that’s nice. So, what’s the big deal?</b></span><br />
<span style="font-size: large;">Well, it’s on Tuesday 9th October from 6pm to 8pm. There’s going to be an informal reception held in the Vale & Downland Museum in Wantage and it’ll be an evening of opportunity and firsts.</span><br />
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<span style="font-size: large;"><b>An evening of opportunity and firsts? Sounds intriguing…</b></span><br />
<span style="font-size: large;">That’s right. It’s something that you may not have experienced before (some might say for good reason but they’d be wrong, of course!) and this one’s going to be different again, which is why we’d really appreciate it if you could come along. We need you, and if we could superimpose Matthew Chapman’s face onto a Lord Kitchener poster, we would.</span><br />
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<span style="font-size: large;"><b>Please don’t, but go on…</b></span><br />
<span style="font-size: large;">Well, the purpose of the evening is twofold. Firstly, it’s going to be one of Matthew’s last meetings before stepping down as Chair and he wants to say a big thank you in more ways than one. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Secondly, the Chamber of Commerce is a great way to network with other local business leaders, influencers and professionals, and keep up to date with community initiatives.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Thirdly, and just as importantly, there’ll be a special presentation from the charity <i>SUDEP Action</i> starting at 6.15pm, all about their <i>Prevent21</i> campaign, and how your business can potentially become involved.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">And because it’ll be held in the museum, it’s the perfect opportunity to relax with a load of old relics.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Oh, and there’s also going to be drinks and nibbles with outside catering laid on. Indoors.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>That’s 5 reasons. Its’s starting to remind me of Monty Python’s Spanish Inquisition.</b></span><br />
<span style="font-size: large;">Yes, sorry. Anyone would think we worked with numbers for a living.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>So, it’s a good opportunity to network?</b></span><br />
<span style="font-size: large;">Absolutely. Especially as we’re <strike>chasing, harrying and cajoling</strike> expecting so many people to attend. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>And <i>SUDEP Action</i>? Have I heard of them?</b></span><br />
<span style="font-size: large;">Possibly. They’re a Wantage-based charity that operates nationally to raise awareness of epilepsy risks in the young. It stands for ‘sudden unexpected death in epilepsy’ and aims to reduce the number of fatal cases it causes in that age group.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>That sounds like a great initiative!</b></span><br />
<span style="font-size: large;">That’s because it is. As well as preventing epilepsy-related deaths, it also offers support to those bereaved by epilepsy.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>Impressive. And <i>Prevent21</i>?</b></span><br />
<span style="font-size: large;">We don’t want to give away too much other than saying that <i>Prevent21</i> is a business awareness partnership designed to be part of a creative business engagement campaign. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>How can my business become more involved?</b></span><br />
<span style="font-size: large;">Easy tiger! All will be revealed on the night! And rest assured that this isn’t one of those evenings where anyone will be asking for donations or anything like that!</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>Is there anything else you can disclose?</b></span><br />
<span style="font-size: large;">Oh yes. Rumour has it that Matthew will be the one putting his hands in his pockets.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>Er, that sounds ominous.</b></span><br />
<span style="font-size: large;">It does. Hopefully they won’t stay there though as no one will get a drink unless he pulls them out again…</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>Did someone mention food and drink?</b></span><br />
<span style="font-size: large;">Yes indeed. We can’t have people attend on an empty stomach after a hard day’s work, can we?</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>Great. Count me in.</b></span><br />
<span style="font-size: large;">Oh no, please don’t get us counting again…</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>Anything else I need to remember or bring?</b></span><br />
<span style="font-size: large;">Something to record this momentous happening for posterity.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>And any advice on what not to say?</b></span><br />
<span style="font-size: large;">Yes – please don’t say: <i>“What was the date again?” </i>Or even worse: <i>“Oops, missed it. I wish I’d gone to that.”</i></span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>And anything I should say?</b></span><br />
<span style="font-size: large;">Something like: <i>“See you there – I can’t wait. Cheers!”</i></span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">We hope you can join us on Tuesday 9th October. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Not only will it be a great opportunity to find out more about the new <i>Prevent21</i> Business Awareness Partnership, you’ll also be able to network with a whole host of other local businesses in an informal, relaxed and unique setting.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">We’re anticipating a busy evening so if you’re planning to attend, please could you email Matthew directly on <a href="mailto:matthew@chapmanworth.co.uk">matthew@chapmanworth.co.uk</a> to help us manage the buffet numbers.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">And don’t forget – Matthew’s buying!</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">See you then!</span><br />
<b style="mso-bidi-font-weight: normal;"><span style="background: white; line-height: 115%;"><span style="font-family: inherit; font-size: large;"><br /></span></span></b>
<b style="mso-bidi-font-weight: normal;"><span style="background: white; line-height: 115%;"><span style="font-family: inherit; font-size: large;">Until next month...</span></span></b></div>
<br />Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-8072038112886708762018-08-22T10:30:00.000+01:002018-08-22T15:37:44.248+01:00Look into my eyes and then your APN…<span style="font-size: x-large;">Oops, you’ve gone under.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">How’s your summer going?</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">What with scorchio weather, school holidays and the World Cup, we’ve gone from ‘It’s too hot’, ‘I’m bored’ and ‘It’s coming home’ to everyone’s gone home. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">And all because it’s the time of year when there’s not a lot of work going on. BBQs and sunburn, yes. Conscientious levels of industry, no.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Unless, of course, you’re HMRC and its Advanced Payment Notice (APN) Department. They’ve been busy…</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">In fact, so busy, it’s resulted in a not-so-great summer for one unlucky person.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Any ideas? Go on, close your eyes, and think hard now…</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">That’s right. Following on nicely from the previous blog on our <a href="https://client.abbeytax.co.uk/chapman-worth/practice-protector/fee-collection">Tax Investigation Protection service</a>, we’re talking about Psychic Sally, a popular clairvoyant and director of Sally Morgan Enterprises whose psychic services company recently went into voluntary liquidation following a £2.9m tax bill and unexpected APN from HMRC.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">We’re not sure how Mystic Meg, Septic Peg and all the other oracles would have fared but, clearly, Psychic Sally didn’t see this one coming. It certainly puts a whole new spin on a person from her profession crossing someone’s hand in silver. In this case, HMRC’s. Wanting rather a lot of it.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Even though the amount of the tax bill has been disputed, the issue of an APN means that the taxpayer has only 90 days to act – without a formal right of appeal or the ability to defer the payment (and any other payments that had been postponed up to that point). Effectively, it results in Hobson’s choice: either settle by producing the amounts owed or go into voluntary liquidation as in the case here.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;"><b>APNS: The good, the bad and the ugly</b></span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Since they were first introduced in the Finance Act in August 2014, around 80,000 APNs have been issued. Last year alone, HMRC reported that more than £4bn had been collected through them, with the average bill for large companies trying to avoid tax around £6m.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">And, whilst representations can be made to HMRC, convincing them that the amounts or even the demands themselves are a mistake can prove extremely difficult – despite recent official figures revealing that as many as 6,000 of those notices were withdrawn after having been wrongly issued. It’s no wonder APNs are deemed so controversial.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">With regard to Sally Morgan Enterprises, without the available funds to pay its debts, it’s not looking good; especially with HMRC upholding around 90% of its APN decisions. As one wag commented: <i>“Psychic Sally might find it easier to commune with the dead than disputing her APN.”</i></span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">So, there you have it, the latest news from the CW vault and why it always pays to be on top of your taxes.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Which reminds us; we need to rebook the entertainment for our works summer BBQ. Now, would you believe it – we also had a clairvoyant lined up. Unfortunately, the rather diminutive Seymour Footure has gone AWOL due to unforeseen circumstances. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">The local papers really went to town with that headline: <i>‘On the run: Small medium at large.’</i></span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Oh dear, that’s about the size of it. Let’s hope his crystal balls aren’t hampering him too much. </span><br />
<span style="font-size: large;"></span><br />
<span style="font-size: large;"><b>Until next month...</b></span><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-1859485490852038692018-08-08T10:30:00.000+01:002018-08-08T15:21:49.631+01:00HMRC is on the prowl…<span style="font-size: large;">But don’t worry – our Tax Investigation
Protection means you won’t have to take them on alone.</span><br />
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 16.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Tax
investigations can happen to anyone, whether you’re an individual or in
business.</span><span style="line-height: 115%;"> <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">And, regardless of whether you’ve been
compliant or not, they’re on the increase.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Why? Because </span><span style="line-height: 115%;">HMRC is working hard to collect more
revenue than ever before. No longer is its role to only ensure that you or your
business paid the right amount of tax; its key objective now seems to be to
maximise the amount of revenue it can collect from taxpayers.</span><span style="line-height: 115%;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">In the last
financial year, HMRC generated a record £28.9bn from challenging accounts, tax
returns and business records – simply by upping the number of compliance
checks, enquiries and investigations conducted.<s><span style="background: lime; mso-highlight: lime;"><o:p></o:p></span></s></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Not only that, thanks
to global tax authorities liaising more closely with one another and the burgeoning
amounts of data now available to HMRC, your chances of being selected for an
enquiry have also increased dramatically. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">It could be due
to the nature of your business, where you live, your rental property or because
HMRC has decided to target your particular profession – or simply through being
selected completely at random!<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">So, how well would you fare in a HMRC
tax investigation?<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Could you successfully defend your
case?<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">And, with </span><span style="line-height: 115%;">in-depth tax enquiries lasting well
over a year and able to run up thousands of £££s in professional fees (even if you’ve
no case to answer), </span><span style="line-height: 115%;">would your resources
stretch to see it through properly?</span><span style="line-height: 115%;"><o:p></o:p></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">Protect yourself and your business today…<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Now the good news: we’re here so that
you won’t have to tackle HMRC on your own.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">O</span><span style="line-height: 115%;">ur Tax Investigation Protection Service is designed to help
both your sanity and finances should HMRC start a compliance check on you.</span><span style="line-height: 115%;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">The service is designed to reimburse
the costs of your defence if you’re selected for enquiry, whilst at the same
time providing you with the best possible representation and assurance that you
won’t have to concede to HMRC’s demands on a purely commercial basis.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">As well as
handling everything from start to finish to ensure you get the best possible
defence, it also means you won’t have to worry about any additional professional
costs associated with the process.<o:p></o:p></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">These are some of the benefits…</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo2; text-indent: -18.0pt;">
</div>
<ul>
<li>Experienced
professional support on your side when you need it.</li>
</ul>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -18.0pt;">
</div>
<ul>
<li>Round-the-clock
legal support – available 24/7, 365 days a year.</li>
</ul>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-indent: -18.0pt;">
</div>
<ul>
<li>Free Business
Legal Helpline with access to a team of qualified solicitors and barristers for
employment law, health and safety matters and commercial issues.</li>
</ul>
<ul>
<li>Unlimited calls
and up-to-date advice in plain English reflecting the latest law changes.</li>
</ul>
<br />
<div class="MsoNoSpacing">
<b><span style="line-height: 115%;">Check out our Tax Investigation Protection
microsite for more details.</span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">There’s more detailed information on
our <span class="MsoHyperlink"><a href="https://client.abbeytax.co.uk/chapman-worth/practice-protector/fee-collection">Tax
Investigation Protection microsite</a></span> – find out what extra support is
provided and how it can make a potentially stressful situation so much easier.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">And if you have any queries, there’s also
a dedicated <span class="MsoHyperlink"><a href="https://client.abbeytax.co.uk/chapman-worth/practice-protector/fee-collection/faqs">FAQs
page</a></span> providing more information on the service and covering the common
questions clients have on tax investigation.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">Don’t want to be an easy target for
HMRC? Then arrange your cover today!<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">HMRC is completely committed to driving
its revenues, so this isn’t going to go away.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">If you’d like peace of mind knowing
that your tax affairs will be professionally defended with everything taken
care of for you, you can <span class="MsoHyperlink"><a href="https://client.abbeytax.co.uk/chapman-worth/practice-protector/fee-collection/purchase">register
or renew your cover here</a></span>.<o:p></o:p></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;">It’s just a small annual fee and there’s now an
easier way to pay.<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">This year, we’re delighted to offer
significant savings on subscription through a new payment system and negotiating
reduced rates with our provider. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">You can </span><span style="line-height: 115%;">renew your cover or sign up ready for 1 September
2018 by <span class="MsoHyperlink"><a href="https://client.abbeytax.co.uk/chapman-worth/practice-protector/fee-collection/purchase">paying
directly via our microsite</a></span>.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">And, if you’re a current subscriber,
we’ve even more good news – while we’ve been implementing the new system we’ve
given you 2 months’ extra cover free!<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Remember, cover starts from 1 September
and is only a fraction of the costs of a typical defence.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Good luck – and whatever you do: stay
safe out there.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<b style="mso-bidi-font-weight: normal;"><span style="background: white;"><br /></span></b></div>
<div class="MsoNoSpacing">
<b style="mso-bidi-font-weight: normal;"><span style="background: white;">Until next month...<span style="font-size: 14pt;"><o:p></o:p></span></span></b></div>
<br />Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-84478080632398890682018-06-25T10:29:00.000+01:002018-06-25T10:52:14.205+01:00MTD is coming and we’ve something that’s going to make life a whole lot easier for you.<span style="font-size: large;">Introducing our new monthly fixed fee service…</span><br />
<br />
Okay, let’s start with the obvious.<br />
<br />
<i>MTD</i>.<br />
<br />
Does it ring a bell? Anyone? Go on, have a guess…<br />
<br />
Match of the Day? Could be, but not quite.<br />
<br />
Marsupial Training Device? Try again.<br />
<br />
Midlothian Trampolining Disco? Er, no.<br />
<br />
Okay, we’ll tell you.<br />
<br />
<b><br /></b>
<b><i>Making Tax Digital </i></b><br />
<b><br /></b><i>
MTD</i> stands for <i>Making Tax Digital</i> and it’s the biggest change to the UK tax system for a generation. It’s part of the government’s plans to implement a modern, fully-automated digital tax system by 2020 to ensure that businesses declare their tax accurately first time and then submit it on time.<br />
<br />
And it’ll be here as early as April 2019 when <i>MTD for Business</i> becomes compulsory for those who are VAT-registered, before being rolled out across the board for all businesses. By that stage, you’ll need to use commercial accounting software to maintain your records and submit quarterly updates to HMRC.<br />
<br />
<b>Our new monthly fixed fee service</b><br />
<br />
Okay, so now you’re probably wondering how this relates to our new monthly fixed fee service…<br />
<br />
Well, quite simply, it includes the cloud software that will have you ready for <i>MTD</i> and ensures that you’re compliant with the new regulations.<br />
<br />
But that’s not all – there are several other benefits that will make your life a whole lot easier….<br />
<br />
<b><span style="white-space: pre;"> </span>A personalised review checklist to identify which services you’re most going to need.</b><br />
<br />
In setting things up, our 1:1 review meeting allows us to discuss and guide you on what your business needs now and what else it might benefit from, with you then selecting what services you want to go with – e.g. accounts, payroll, VAT returns etc.<br />
<br />
<b><span style="white-space: pre;"> </span>Knowing exactly where you stand with costs for all your services.</b><br />
<br />
As the review process identifies what services you need, the individual service fees are automatically calculated based on your turnover of business, number of employees, complexity of tax return, quality of bookkeeping etc. It means there’s no need to keep track of separate services or bills as you now have everything in one place.<br />
<br />
<b><span style="white-space: pre;"> </span>Better cashflow via a monthly, consolidated DD payment.</b><br />
<br />
Whereas in the past you would have paid an annual fee for each individual service, now you make just a regular monthly payment. Routinely collected by direct debit, it lets you budget accordingly without any nasty surprises.<br />
<br />
<b><span style="white-space: pre;"> </span>A streamlined process that’s quick, convenient and flexible.</b><br />
<br />
Following our review, all the information is automatically emailed to you as a proposal so that you have a record of everything. And once you decide you’d like to continue, all it takes is the press of a button through the link in your proposal document. It’s that easy. And, should your circumstances change through you wanting to add or amend services, the system is completely flexible and will calculate your revised monthly payments there and then for you.<br />
<br />
Modernisation is coming and it’s time to go digital…<br />
<br />
<b><br /></b>
<b>Are you ready to benefit from a fixed monthly fee? Then get in touch!</b><br />
<br />
Who said keeping on top of your accounting had to be difficult?<br />
<br />
Now you can forget all about how inconvenient it used to be filing and keeping track of everything, and look forward to a slicker and more reliable way of doing things.<br />
<br />
And with it being suitable for both existing and new Chapman Worth clients, it means you’ll be well prepared for <i>MTD</i> and any other abbreviations that come your way.<br />
<br />
Like CWMFFS.<br />
<br />
Answers on a postcard please.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-12767330992475111842018-05-11T20:46:00.001+01:002018-05-12T11:57:37.269+01:00Say hello to our new in-house Agony Aunt…<span style="font-size: large;">Margery Orpington-Smythe at your service!</span><br />
<br />
Ever mindful of wanting to give something back to the local community, we now have our very own resident Agony Aunt in post: say hello to Margery Orpington-Smythe.<br />
<br />
Having just returned from an almost sell-out tour of two South Oxfordshire community halls, we’re pleased to announce that Margery’s at last bringing her coveted counsel online, ready to help our clients and readers address their everyday dilemmas and travails.<br />
<br />
And with a reputation cobbled together around none of the qualities you’d expect from a half-decent Agony Aunt, she’s never short of some good old misplaced advice and opinions – all based on personal experience, of course (and what she imagines her experience might have been otherwise).<br />
<br />
So, whatever you need to know and no matter what’s on your mind – whether it’s finance-related or otherwise, just ask Marge…<br />
<br />
Here’s one to get us started:<br />
<br />
<i>Dear Marge,</i><br />
<i><br /></i>
<i>After one of the hottest early May Bank Holidays ever, I’m now completely out of sorts. Not only am I concerned that the village has developed its own microclimate due to global warming, my dahlias have gone into overdrive, the cat refuses to vacate the bidet, and my G&Ts won’t stay chilled long enough for me to Instagram them. I’m at my wit’s end. Please help.</i><br />
<i><br /></i>
<i>Yours, Perturbed and Desperate. (East Hendred)</i><br />
<br />
<br />
Dear Perturbed and Desperate,<br />
<br />
My, my. How awful for you. Luckily, I can completely empathise.<br />
<br />
It reminds me of the summer of ’76 when our village too experienced unseasonably premature sunshine. If we’d heard of it, we also would have put it down to global warming. We hadn’t though, so we didn’t. Yet that was the very least of our problems.<br />
<br />
Around that same period, I recall that our garden hedge maze grew so wild that a local tax inspector became lost in it for 3 whole weeks. Thankfully, there was an upside. It could have been a fortnight.<br />
<br />
Our cats (Spreadsheet and Debit) were similarly out of sorts due to the heat. However, instead of being forced to seek a place of cool refuge in the way you describe, they were plagued with the biggest furballs I’d ever seen. At one point, I thought we had an infestation of extremely idle guinea pigs all over the house.<br />
<br />
And, as for keeping one’s drinks cool, that remains a perennial problem. My advice would be to forget about the need for posy snapshots and just drink it while you can. If it’s still not staying cool for long enough, then just top it up. That always works for me.<br />
<br />
Or just photoshop your G&T. Everybody does it and no one will know. Besides, when I was younger, it would take ages to take and develop a photograph, so it was much easier to instead write about whatever it was you wanted to capture by way of letter. Quaint, I know but oh, so satisfying! (By the way, if you think chilled tipples are a challenge, you should try keeping a Baked Alaska at the right temperature. There have been innumerable instances in our house when it’s resulted in marital disharmony and many a time nearly caused me to resort to simply being called Ms Smythe again.)<br />
<br />
Anyway, I digress.<br />
<br />
In summary, consider taking a social media holiday, build a walk-in refrigerator in which to enjoy your summer aperitifs, and keep your bathroom door shut. If that doesn’t work, remove the cat flap from it altogether.<br />
<br />
The global warming issue is slightly trickier. One option is to move village. Or, if you don’t fancy that, just stay in the UK and wait until June.<br />
<br />
Oh, and find yourself a nice accountant. They’re not all listless and boring.<br />
<br />
Helpfully yours, Marge.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-21806413044800999362018-04-20T10:19:00.000+01:002018-04-20T10:22:01.526+01:00Had a chance yet to digest what the 2018 Spring Statement means for you?<b><span style="font-size: large;">Here’s a summary…</span></b><br />
<br />
Last month, Philip Hammond announced his first Spring Statement.<br />
<br />
After two full Budgets in 2017, it didn’t include any tax changes or new spending initiatives (these will come in the Autumn Budget).<br />
<br />
Instead, it represented a move to a new cycle of annual tax and spending changes and, as such, focused on reviewing Office for Budget Responsibility (OBR) figures and announcing consultations.<br />
<br />
<b>Here’s a recap of its key contents for the 2018/19 tax year:</b><br />
<br />
Consultations ranged from ways to squeeze more tax from international digital businesses to a proposal for extending entrepreneurs’ relief to some shareholders whose holdings drop below the qualifying 5% level. There’s also the possibility of the VAT threshold being lowered.<br />
<br />
The start of April saw the usual changes to the income tax rates and allowances as well as national insurance contributions. This year there will also be a cut in the dividend allowance and some special new tax rates for Scottish taxpayers. Modest tax increases have been applied to company cars, but their cumulative impact could be significant for some people.<br />
<br />
Many employees will see any extra net income from the tax changes diminished by higher minimum auto-enrolment pension contributions, although the lifetime allowance for pensions has been raised.<br />
<br />
And, less welcome for some will be the changes to employee termination payments and the new rules for enterprise investment schemes.<br />
<br />
Other areas included:<br />
<br />
<b>English business rates </b> <br />
The next revaluation of business property in England will be brought forward one year to 2021, with three-yearly revaluations thereafter.<br />
<br />
<b>Entrepreneur’s relief</b> <br />
A consultation paper was published on how to give entrepreneurs’ relief in circumstances where it would otherwise be lost because of a new share issue.<br />
<br />
It could be extended for shareholders who currently miss out because their company issues new shares to raise cash, dropping their shareholding below the crucial 5% point.<br />
<br />
<b>VAT threshold</b> <br />
Because of concern that the VAT threshold of £85k is inhibiting business growth, the government issued a call for further evidence on restructuring the VAT registration threshold to offer more incentives for small businesses to grow. There’s already some evidence that businesses deliberately limit growth to avoid crossing the existing £85,000 threshold (which has been frozen for the next two years).<br />
<br />
So, watch out for changes – maybe a system of gradually increasing tax rates as turnover rises, or possibly different rates for different types of business.<br />
<br />
<b>Tax and the digital economy </b> <br />
There were several papers examining taxation issues surrounding the digital economy, including VAT and income tax leakage through internet trading platforms. <br />
The government says that some people who use online platforms to run their businesses are not paying their fair share of taxes. One approach could be to ask platforms to help with tax admin – rather like employers.<br />
<br />
<b>Self-funded work-related training </b> <br />
A consultation paper was published examining how to extend the existing tax relief framework to self-funded work-related training by employees and the self-employed.<br />
<br />
According to HMRC, over 1 million people paid for their own training back in 2016, so now the government would like views on how to extend the tax relief to provide a training boost and encourage this further.<br />
<br />
<b>Tax evasion and money laundering </b> <br />
The government wants to crack down on people who use cash to evade tax and for money laundering by taking a keen interest in large cash transactions and finding out why they are used.<br />
<br />
<b>Enterprise investment schemes and venture capital trusts </b> <br />
New rules for enterprise investment schemes and venture capital trusts will mean more cash for innovative businesses – but higher risks for investors.<br />
<br />
<b>HMRC to extend powers</b> <br />
HMRC can demand a security deposit from businesses where tax is at risk for VAT, PAYE and NICs as well as various other taxes, and this will now be extended to corporation tax and the Construction Industry Scheme.<br />
<br />
<b>Get everything you need in your 2018/19 Tax Tables</b><br />
<br />
We have free 2018/19 Tax Tables to give out if you’d like one.<br />
<br />
They conveniently give you all the key numbers in one place and include all of the updated information announced in the Spring Statement.<br />
<br />
If you’d like us to send you your new Tax Tables for the 2018/19 tax year, please get in touch.<br />
<br />
<b>Key changes for 2018/19 include:</b><br />
<br />
<ul>
<li>Increases to the personal allowance, and basic and higher rate tax thresholds.</li>
<li>New income tax bands and rates for Scotland.</li>
<li>A cut in the dividend tax allowance from £5,000 to £2,000.</li>
<li>Revised company car tax scales, with an increase in the diesel levy.</li>
<li>The first increase in the lifetime pension allowance since 2010.</li>
<li>An increase in the maximum tax relievable investment in Enterprise Investment Schemes.</li>
</ul>
<br />
<b>Questions or queries on how these relate to you?</b><br />
<b><br /></b>
If you have any questions or would like some more information on how the Spring Statement affects you, please <a href="http://www.chapmanworth.co.uk/contact/">get in touch</a>.<br />
<br />
<b>Until next month (when we return to a lighter take on things)...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-11923340594578444352018-03-07T19:33:00.000+00:002018-03-08T12:50:04.689+00:00Steady now… HMRC releases new guidance on reasonable care...<b><span style="font-size: large;">Unfortunately, Finance Bill didn’t see the memo.</span></b><br />
<br />
Maybe it was all the talk of <i>Hysteria from Siberia</i> or <i>The Beast from the East</i> but it made Finance Bill a little more distracted than usual.<br />
<br />
Although never particularly detail-oriented, he nonetheless always acts with absolute conviction – regardless of whether he actually knows what he’s doing, or even if it’s right.<br />
<br />
So, when he heard of new guidance from HMRC about taking reasonable care, he embraced it with his usual overly-enthusiastic gusto, and pretty much applied it to every area of his life. Better safe than sorry, eh?<br />
<br />
As he was going to be working from home for a few days, the first thing he needed was an extra-comfy chair, lots of cushions and a supportive back rest. At long last he was able to use his Secret Santa present – a pressure-activated massager that gave messages of encouragement every time you shifted against it, such as “<i>You are a tiger!</i>” and “<i>Whatever anyone else ever tells you, accountants are fabulous. No, really.</i>”<br />
<br />
His laptop was fully charged, his therapeutic wrist support was in place; Wi-Fi signal at full strength, and firewalls, antivirus, and malicious threat software all ready to go. He had spare spare batteries for his calculator and his compendium of crayons was neatly lined up in colour order alongside his new school maths set. As his old mentor used to tell him, you can always rely on someone with a protractor and pair of compasses, but beware those who chew their pencils…<br />
<br />
Efficient? He was going to be unstoppable. He even had a cup of freshly-poured herbal tea sat on his desk to help him stay hydrated (and not too hot, of course – ever since the last time when he burnt his lips and short-circuited the keyboard with a spray of Wong Lo Kat).<br />
<br />
Nothing beats the feeling of being fully prepared. Even the background music was just right; conducive to creating a zen-like atmosphere and, importantly, not too loud. Despite having a vast and eclectic LP collection, Finance Bill had very fixed ideas on what qualified as work music and what he liked to call ‘Helloooow, sociable smooth’. Thrash metal was definitely not allowed (danger of sudden movements, moshing and breakages), and nor was anything by <i>Anthrax</i> (pathogenic reasons and highly contagious). <i>The New Seekers</i> were also off the playlist (due to danger of DVT from not moving at all).<br />
<br />
Finally, he made sure the room was well-aired but warm (by having his convection heater outside the open window), and ensured that the lighting wasn’t too bright, but more ambient to aid concentration and remind him of his favourite jazz club near Whitehall, <i>Dim</i>.<br />
<br />
Then, just as he was about to finally settle down to start some work, he decided to make one last trip to the kitchen to check he hadn’t left any taps dripping, slipped on the HMRC Reasonable Care booklet that was lying on the floor and is now in traction in The John Radcliffe Hospital. So much for better safe than sorry.<br />
<br />
Still, it could have been worse; it could have been his Tom Petty <i>Free Fallin’</i> single that he’d trodden on.<br />
<br />
For the record (no pun intended), HMRC has published new guidance on how to take reasonable care when submitting tax returns and other documents to them, and what happens if you don’t (including details of penalties).<br />
<br />
Coincidentally, it’s entitled ‘<i>Reasonable care: tax returns and other documents</i>’ and is the first time HMRC has made all care advice available to access from one location (on GOV.UK) instead of across various compliance manuals. Essentially, it gives advice on "doing everything you can to make sure the tax returns and other documents you send [to HMRC] are accurate.”<br />
<br />
In case you were wondering how Finance Bill is doing, there was a silver lining. Kind of.<br />
<br />
Now that all the snow has melted, he is starting to get a few more visitors; yet keeps telling them that everything’s up in the air and he’s completely plastered.<br />
<br />
Sedative, anyone?<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-27623546591947851742018-02-22T14:43:00.000+00:002018-02-22T14:49:22.047+00:00Phew! Is February over yet?<span style="font-size: large;">Here’s a round-up of the year so far…</span><br />
<br />
So, how’s 2018 been for you up till now? Nice and relaxed? Or crazily manic?<br />
<br />
It’s definitely been the latter for us, and not least because the end of January always culminates in our busiest time of the year – tax returns and all that.<br />
<br />
Then, no sooner have you managed some well-deserved rest at the start of February than Valentine’s Day arrives with sackfuls of cards from mystery admirers who just can’t resist the fast-lane lure and idylls of accountancy. It results in a lot of post to open and, we admit, is the main reason why this month’s article is slightly later than usual…<br />
<br />
Nonetheless, it also means that two months into 2018, now’s the perfect time to take a look at what’s happened so far this year. Financially-related, of course.<br />
<br />
<b>How many of the following can you relate to?</b><br />
<br />
<b><i>Hurrah – tax returns are done and dusted! </i></b> <br />
The 31st January saw clients and accountants breathe a collective sign of relief for another year. For some, what better feeling is there than being able to relax once it’s all over? And particularly after the buzz of having left everything to the last minute. Again.<br />
<br />
<b><i>But some tax return software said “No”. </i></b> <br />
Which no doubt merely added to the sense of rush for the adrenaline junkies. One software programme was found to have miscalculated tax owing on foreign income, which, once rectified, resulted in a nice surprise. But not for the person who was being taxed. Conversely, a different software programme developed glitches in the week leading up to the deadline, leaving taxpayers and their agents no option but to file erroneous figures and pay the tax due – in some cases, an overpay, whilst an underpay for others.<br />
<br />
<b><i>And late filing fines may be illegal. </i></b> <br />
Assuming that you did file your return on time, you won’t have been penalised with a £100 fine. Yet one leading judge has warned HMRC that automatically fining people for filing their tax returns late may not be legal – simply because they were issued automatically by a computer. The judgement means that penalties are only valid if issued by humans and is expected to lead to a surge in successful appeals. Looks more like a case of ‘Computer says “<i>Doh!</i>”’<br />
<br />
<b><i>Credit card charges are now a thing of the past. </i></b> <br />
If you’re an advocate of ‘cash is king’, then this won’t apply to you. But for those who wield more plastic than Barbie and Ken, they’ll be delighted that credit card fees were scrapped as of mid-January. Of course, businesses wouldn’t dream of increasing their pricing to compensate. Or, in the case of a Glasgow taxi firm, replacing the fee with a service charge instead…<br />
<br />
<b><i>Not all accountants are foul-mouthed, sweary **$***>$. </i></b> <br />
One from Sheffield did hit the headlines though, after confronting a couple of clients outside a pub with a profanity-laden rant following a fee dispute. (Incidentally, saying “<i>Please</i>” at the end of an expletive-heavy outburst rarely tends to soften things.) More refreshingly, a different article even accused us (accountants in general, that is) as being too nice. Aw, isn’t that lovely…<br />
<br />
<b><i>But they ought to take a Hippocratic Oath. </i></b> <br />
Apparently, this is to help combat tax avoidance so, thankfully, isn’t something that we need to worry about. More relevant for us and other mainly sedentary professions would be a Hippopotamus Oath, in which we ban all fast food at our desks and vow to get out more.<br />
<br />
<b><i>And it’s BAFTA and Oscar time… </i></b> <br />
Okay, this has nothing to do with finance but who doesn’t enjoy a good film? Forget ‘<i>Three Billboards Outside Ebbing, Missouri</i>’, ‘<i>The Post</i>’ and ‘<i>Darkest Hour</i>’, why hasn’t ‘<i>The Accountant 2</i>’ with Ben Affleck come out yet…<br />
<br />
So, there you have it – the main goings-on to date in the fiscal world. We know, enthralling.<br />
<br />
And, by the way, if you thought that opening more than 400 Valentine’s cards takes a long time, you should see how long it takes to write them.<br />
<br />
Ages. Absolutely ages.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-69512278622919954132018-01-11T19:43:00.000+00:002018-01-18T16:10:03.294+00:00For help on Self Assessment for the self-employed…<span style="font-size: large;">It’s probably best not to be guided by Preston Garstang and Compton Bassett… </span><br />
<br />
Yep. It’s that time of year again. The time of year when lots of us become a little anxious and distracted.<br />
<br />
And, nope, we don’t mean the F.A. Cup 3rd Round or feeble attempts at Dry January but the end-of-month deadline for submitting tax returns.<br />
<br />
So, while many people frantically scrabble together as much information as they can to get their affairs in order, it’s a busy time too for HMRC as their Helpdesk Team prepare for the last-minute rush of enquiries.<br />
<br />
Which is why it’s all hands to the pump, and the reason Messrs Preston Garstang and Compton Bassett from the Department of Trivial Affairs (<a href="http://www.chapmanworth.co.uk/news/">http://www.chapmanworth.co.uk/news/</a> October 2017 blog) have been drafted in to help.<br />
<br />
What they don’t know about the finer points of Self Assessment for the self-employed can be written in several weighty tomes, so, rather than being assigned to the helpdesk, their remit was to instead submit all manner of potential queries as part of a test run.<br />
<br />
<b>Here’s a sample of what they came up with…</b><br />
<br />
<b>On travel expenses:</b><br />
<br />
Q.<span style="white-space: pre;"> </span>I have friends coming to help me on a business trip who aren't employed by me in any form. <br />
How can I claim for their expenses for the trip?<br />
<br />
Q. If I take my cat on Eurostar for business, can I claim £0.45 per mile instead of the fare?<br />
<br />
Q. I got a unicycle for Christmas and plan to use it to get to work. I’m unable to ride it yet though.<br />
Two questions – can I be reimbursed for lessons and how much can I claim per mile?<br />
<br />
Q. Sorry, that should have read car.<br />
<br />
<b><br /></b>
<b>On clothing and personal expenses:</b><br />
<br />
Q.<span style="white-space: pre;"> </span>I’m a professional lion-tamer. Can I expense private healthcare if I get injured?<br />
<br />
Q.<span style="white-space: pre;"> </span>I’m a Scuba Diver Trainer and was thinking of getting a reversible wetsuit/tuxedo like Sean<br />
Connery wore in Thunderball. Do I just claim 50% of the cost?<br />
<br />
Q.<span style="white-space: pre;"> </span>My work has resulted in back pain from sitting at a desk (my desk is too low and my chair is<br />
too high, and it also only has 3 legs). My osteopath says I can claim the cost of treatments. Is<br />
this correct?<br />
<br />
Q. Good day. I am a method actor in musical theatre and need to maintain a specific physique that<br />
ranges from extremely buff to er, not-so-buff (nonetheless, I remain irresistibly cavalier). How<br />
much can I expense on gym membership and fast-food?<br />
<br />
Q.<span style="white-space: pre;"> </span>As part of my brand image, I take my Andalusian chihuahua (Rodrigues) to business meetings.<br />
He usually sits in my handbag. However, he gets very nervous if there are a lot of people<br />
present and has already ruined 2 rugs, a welcome mat and a Louis Vuitton Speedy 30. Can I<br />
claim for these as well as a dog hypnotherapist?<br />
<br />
<b><br /></b>
<b>On capital expenses:</b><br />
<br />
Q. I’m planning a Star Wars attraction and want to build a Death Star. Some of it will be for work<br />
and some for holidays. How much can I expense? (Ps. Not sure yet if it will be my base for<br />
work. It’ll also be in my back garden and not up in space.)<br />
<br />
Q. How do I claim for work done on my swimming pool? The roof was leaking so I had to have it<br />
fixed and my car park also had to be resurfaced.<br />
<br />
Q.<span style="white-space: pre;"> </span>How about a Bond-villain lair inside a volcano? I say Bond-villain lair but it’s actually just<br />
going to be used for respectable purposes.<br />
<br />
Q.<span style="white-space: pre;"> </span>Regarding the swimming pool, it’s a separate building next to the patio.<br />
<br />
Q.<span style="white-space: pre;"> </span>I work from home and my front door is in a terrible state (I think it’s next door’s dog) and needs<br />
replacing. What amount can I claim back?<br />
<br />
Q. If I work from home, can I knock all the walls down to make it one big room instead of having<br />
to claim just a proportion?<br />
<br />
Q.<span style="white-space: pre;"> </span>I can turn the swimming pool into a registered business if that’s easier?<br />
<br />
<b><br /></b>
<b>On work-related research expenses:</b><br />
<br />
Q. I regularly conduct wine tasting abroad. Can I fly Business Class and claim it as an expense?<br />
The fact I have family and friends there is completely coincidental.<br />
<br />
Q.<span style="white-space: pre;"> </span>Performing my work includes researching a lot of culture (films, video games, magazines, <br />
books, travel) for creative inspiration and idea generation. Oh, and gin and tonic. Can these<br />
purchases be included as expenses?<br />
<br />
<b><br /></b>
<b>On entertaining expenses:</b><br />
<br />
Q.<span style="white-space: pre;"> </span>Can I count membership to a Members’ Club that I use for an office/meeting place for my<br />
business?<br />
<br />
Q.<span style="white-space: pre;"> </span>Can I claim for a business development meeting with a VIP customer? Usually it’s in my office<br />
but it might be over dinner in an expensive restaurant (they do an early-bird menu).<br />
<br />
Q.<span style="white-space: pre;"> </span>Is there a daily food allowance of £8.00 per day? And does this go up with London weighting?<br />
<br />
Q.<span style="white-space: pre;"> </span>What if it’s a Meal Deal?<br />
<br />
Q.<span style="white-space: pre;"> </span>Or just a bag of crisps (low fat)?<br />
<br />
<br />
<b>Just in case none of this has been particularly helpful, here are some must-knows:</b><br />
<br />
•<span style="white-space: pre;"> </span>The term ‘wholly and exclusively’ is key to much of what can be legitimately claimed for<br />
business expenses.<br />
<br />
•<span style="white-space: pre;"> </span>Entertaining expenses are a big no-no.<br />
<br />
•<span style="white-space: pre;"> </span>Any tax due should be paid by 31st January, including payment of any liability (for 2016-17),<br />
and any payment on account (due for 2017-18).<br />
<br />
•<span style="white-space: pre;"> </span>And, lastly, a £100 penalty also applies for late submissions, even if there was no tax to pay or<br />
any tax due was paid on time.<br />
<br />
More information can be found at <a href="https://www.gov.uk/expenses-if-youre-self-employed">https://www.gov.uk/expenses-if-youre-self-employed</a> and via HMRC’s online webinars: <a href="https://www.gov.uk/guidance/help-and-support-if-youre-self-employed">https://www.gov.uk/guidance/help-and-support-if-youre-self-employed</a>.<br />
<br />
So, there you have it.<br />
<br />
Incidentally, we’ve just heard that some of the Helpdesk Team have been named in the New Year Honours List; not for services to the public but for ‘outstanding patience and fortitude in the face of extreme ill-informed inquisitiveness’ – from seconded colleagues.<br />
<br />
Although the rumour that HMRC now internally stands for ‘Help Me Remain Civil’ is yet to be verified.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-90078976791116062802017-12-09T12:30:00.000+00:002017-12-09T14:52:32.057+00:00It’s the Mastermind Christmas Special!<span style="font-size: large;"><b>With Finance Bill answering questions on Christmas cracker jokes and, er, finance… </b></span><br />
<br />
<i>Hello and welcome to our festive edition of Mastermind. I’m Magnus Numpteys…</i><br />
<br />
<i>Could we invite our first contestant into the chair, please.</i><br />
<br />
<b>MN:</b> Y<i>our name, please? </i> <br />
<b>Contestant:</b> <i>Finance Bill.</i><br />
<br />
<b>MN:</b> <i>Occupation? </i> <br />
<b>FB:</b> <i>Finance and Accountancy Aficionado. Although some people say that I occasionally get the wrong end of the stick.</i><br />
<br />
<b>MN:</b> <i>And your specialist subject? </i> <br />
<b>FB:</b> <i>Christmas cracker jokes and, er, finance. </i><br />
<br />
<b>MN:</b> <i>Okay, Finance Bill, your time on Christmas cracker jokes and finance starts now… </i><br />
<i>…How may accountants does it take to change a light bulb?</i><br />
<br />
<b>FB:</b> <i>0.80 + VAT? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What kind of motorbike does Santa ride? </i> <br />
<b>FB:</b> <i>A Holly Davidson? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What does Miley Cyrus have for Christmas dinner? </i> <br />
<b>FB:</b> <i>Twerky?</i> <b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What is the definition of ‘accountant’? </i> <br />
<b>FB:</b> <i>Someone who solves a problem you didn’t know you had, in a way you don’t understand? </i> <b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What do you call a group of vainglorious chess players in a hotel lobby? </i> <br />
<b>FB:</b> <i>Chess nuts boasting in an open foyer? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<i><br /></i>
<b>MN:</b> <i>Why did the accountant get excited when he completed a jigsaw puzzle in 42 weeks? </i> <br />
<b>FB:</b> <i>Because on the box it said 8-12 years? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>How will Christmas dinner be different after Brexit? </i> <br />
<b>FB:</b> <i>No Brussels? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What do you call an accountant without a spreadsheet? </i> <br />
<b>FB:</b> <i>Lost? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What is the definition of a good tax accountant? </i> <br />
<b>FB:</b> <i>Someone who has a loophole named after them? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What is Santa’s favourite pizza? </i> <br />
<b>FB:</b> <i>One that’s deep-pan, crisp, and even? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>How does an accountant go wild when staying at a hotel? </i> <br />
<b>FB:</b> <i>By refusing to fill in the Guest Comment Card? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What happened to the man who stole an Advent calendar? </i> <br />
<b>FB:</b> <i>He got 25 days? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>How do accountants make a bold fashion statement? </i> <br />
<b>FB:</b> <i>By wearing light grey socks instead of their dark grey ones? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> <i>What goes "Oh, oh, oh"? </i> <br />
<b>FB:</b> <i>Santa walking backwards? </i> <br />
<b>MN:</b> <i>Correct.</i><br />
<br />
<b>MN:</b> [BUZZER SOUNDS] <i>And finally, have you heard the joke about the interesting accountant? </i><br />
<b>FB:</b> <i>Er, no? </i> <br />
<b>MN:</b> <i>Me neither. Correct.</i><br />
<br />
<i>Finance Bill, at the end of that round, you scored 15 points, with no passes. </i><br />
<i><br /></i>
<i>Our next contestant, please…</i><br />
<br />
How did you do?<br />
<br />
We’re not suggesting you apply to go on <i>Mastermind</i>, but it’s never a bad thing to occasionally gen up on information that may affect your financial situation.<br />
<br />
Although, perhaps not just yet, unless you still have your tax return to do. It is nearly Christmas, after all.<br />
<br />
So, from everyone here at CW Towers, may we wish you all a very merry Christmas, and a healthy and happy 2018!<br />
<br />
And please don’t overdo the twerky at your office party.<br />
<br />
<b>Until next <strike>month</strike> year...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-63995743104560180632017-11-07T16:36:00.000+00:002017-11-07T16:36:55.012+00:00Your starter for 10: Is it a car or a van?<b><span style="font-size: large;">Er, not sure. Can it be something in-between…?</span></b><br />
<br />
Oh, the fun we have at CW Towers!<br />
<br />
When we’re not beavering away with all sorts of accountancy-related work, we sometimes treat ourselves to a well-deserved game of inter-departmental (and extremely competitive) <i>I Spy</i>.<br />
<br />
The most recent episode was no less fiercely fought, descended into a somewhat passionate debate, and almost resulted in someone having their solar-powered calculator hidden in a bottom drawer.<br />
<br />
And all because the person whose turn it was had a window to look out of.<br />
<br />
Usually, in a game of <i>I Spy</i>, being the only person with a view to the outside world can give someone an unfair advantage. Although, in this case, what they saw complicated matters more than anyone could ever have imagined.<br />
<br />
“<i>I spy with my little eye, something beginning with, er, ‘C’. I think. </i><br />
<i>No, hang on. ‘V’. No. Forget that, it’s definitely ‘C’. Probably.</i>”<br />
<br />
Guesses ranged from carrot and cauliflower (it was market day), to calculator (even though we’ve already had that 17 times before), to see-saw (please, don’t ask) and Chippenham.<br />
<br />
Then, what’s normally a fairly breezy affair became much less so when the person triumphantly declared, “<i>No, it’s a car! I still… think.</i>”<br />
<br />
At which point, 14 people were huddled around a small window overlooking the street.<br />
<br />
“<i>That’s not a car!</i>” someone challenged. “<i>Well, not according to HMRC!</i>”<br />
<br />
“<i>Yes, it is!</i>” cried the other person defensively.<br />
<br />
And that’s when the wheels came off…<br />
<br />
(For the record, there have been 3 recent appeals by HMRC to examine whether vehicles supplied to employees were vans or cars. This is because the categorisation of a vehicle supplied to an employee significantly affects the income tax liability for the employee as well as the national insurance contributions for the employer.)<br />
<br />
So, apart from allowing innocuous office games to become too riotous, the moral of the story is that, sometimes, a window and a bit of HMRC knowledge can be dangerous.<br />
<br />
Which is why, for health and safety reasons, we’re not going to play <i>I Spy</i> for a while.<br />
<br />
No, the next game we have lined up is the fun and fast-paced ‘<i>If I were a muppet, what sort of muppet would I be.</i>’<br />
<br />
That should be interesting.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-73279807847162675352017-10-12T11:11:00.000+01:002017-10-12T11:11:18.684+01:00What’s the best pressie you’ve ever received from work?<b><span style="font-size: large;">Well, it depends how trivial it is…</span></b><br />
<br />
Brace yourself: we’re about to mention the c-word.<br />
<br />
No need to be alarmed though – Hallowe’en hasn’t arrived yet and no one’s mentioned Guy Fawkes or Bonfire Night, so it’s perfectly acceptable timing to jump on the bandwagon and bring up Christmas 3 months early…<br />
<br />
Because Christmas is a time for giving and goodwill to all, now is the ideal time for (ahem, great) employers to start thinking about what presents to get their highly-appreciated and hard-working employees.<br />
<br />
Which is why it’s good to know about what gifts are tax-exempt and which ones you need to report on your P11D or PAYE Settlement Agreement.<br />
<br />
That’s right; we’re talking about trivial benefits here.<br />
<br />
So, what’s allowable and what isn’t?<br />
<br />
Well, thanks to the work of Sir Tufty Rough-Bonce and his aides Preston Garstang and Compton Bassett in the Department of Trivial Affairs, all of the finer, pointless details have already been thrashed out.<br />
<br />
Lengthy discussions have been had and painstaking decisions made. <i>A Definitive History of HMRC</i> didn’t quite make it (not trivial enough) and life-size knitted sheep were rejected immediately (too woolly).<br />
<br />
However, within the conclusive guidelines, a nice bottle of wine or festive turkey is deemed acceptable. As is a £49.00 personalised Winter Wonderland snow globe.<br />
<br />
In short, for the gift to be exempt, here’s what you need to know:<br />
<br />
•<span style="white-space: pre;"> </span>It can’t be cash or a cash voucher (but can be a gift voucher).<br />
•<span style="white-space: pre;"> </span>It shouldn’t exceed £50 in value.<br />
•<span style="white-space: pre;"> </span>It can’t be provided as part of a salary sacrifice or other contractual arrangement.<br />
•<span style="white-space: pre;"> </span>It shouldn’t be given in recognition of roles or services that the employee performs as part of<br />
their job.<br />
<br />
Hopefully then (and unless you’re an insomniac), the wait for just what you've always wanted is only 77 sleeps away. But, if you think there’s more chance of Bing Crosby carol-singing <i>White Christmas</i> at your place of work than your employer having a seasonal treat lined up for you, remember, you could always lead by example…<br />
<br />
Apparently, we hear that an ornamental turkey in a bottle is all the rage this year and selling fast. Of course, where you invite the recipient to put the decorative stuffing is entirely up to you.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-88092201682074998382017-09-08T15:18:00.000+01:002017-09-08T15:19:32.831+01:00Who Wants To Be a Millionaire?<b><span style="font-size: large;">We can help. But first, it’s time for the Chapman Worth quiz…</span></b><br />
<br />
<i>Bake Off</i>’s back and so is <i>Strictly</i>, but whatever happened to another old favourite?<br />
<br />
Here’s our industry-topical homage to one of the most popular quizzes of all time. (Unfortunately, there’s no money up for grabs although winners will have the opportunity to <strike>un</strike>subscribe <strike>from</strike> to our mailing list.)<br />
<br />
Ready?<br />
<br />
<b>Q1: What expenses can landlords now claim?</b><br />
A. Whatever they like.<br />
B. Whatever they can get away with.<br />
C. Those that are wholly and exclusively for the purposes of renting out the property.<br />
D. None. It’s not worth being a landlord.<br />
<br />
<b>Q2: What is <i>Form 17</i>?</b><br />
A. A millennial hip-hop group from Grove.<br />
B. The document that follows <i>Form 16</i>.<br />
C. A shampoo for poodles.<br />
D. A HMRC declaration for cohabiting couples to acknowledge unequal property ownership and be taxed proportionally.<br />
<br />
<b>Q3: What’s the definition of ‘<i>people with significant control</i>’?</b><br />
A. Someone with authority or skill – e.g. a teacher, traffic warden, or juggler. <br />
B. Someone who can drink 11 cups of tea without the need to powder their nose.<br />
C. An individual who exerts significant control over a UK company or LLP through shares or voting rights.<br />
D. Your other half.<br />
<br />
<b>Q4: What is <i>disincorporation relief</i>?</b><br />
A. An annual, televised fundraising event.<br />
B. Relief that allows the transfer of a business from a private limited company to a sole trader or partnership; and due to end on 31 March 2018.<br />
C. The feeling you get when you leave behind corporate life.<br />
D. An over-the-counter medication.<br />
<br />
<b>Q5: What does <i>OTS</i> stand for?</b><br />
A. Office of Tax Simplification.<br />
B. Office of Tax Simpletons.<br />
C. Oh. Tax. S**t.<br />
D. Overly Tense Subtraction. <br />
<br />
If you’re dying to know the correct answers or want to read more on the topics covered here, you’ll find everything you need in this month’s email newsletter.<br />
<br />
And if you’ve still no idea what quiz show we’ve been talking about, it might be time to ask the audience.<br />
<br />
Either that, or shout in exasperation: “I’ll have a ‘P’ please, Bob!” Anything to let you escape the room.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-91537289847835833642017-08-04T18:28:00.000+01:002017-08-04T18:28:50.758+01:00Final score (AET): Tax Avoidance Scheme 0 – 1 HMRC<span style="font-size: large;"><b>How a complex Employee Benefit Trust resulted in a catastrophic own goal…</b></span><br />
<br />
With the new football season warming up, we’ve decided to get you in the mood with a match report of a recent (albeit long-running) encounter between HMRC and a well-known football club.<br />
<br />
So, it’s over to our roving reporter in the north, Mike Hardigan-Fitzbaddely…<br />
<br />
<i>“Well, this one’s been a cracker, full of twists and turns.</i><br />
<i><br /></i>
<i>Although the season’s just now starting for some, this marathon of a contest has only just finished for others. And yes, while one side can claim to literally be over the moon, the other is, without doubt, feeling as sick as a parrot. With psittacosis.</i><br />
<i><br /></i>
<i>I’m talking about the former incarnation of Rangers Football Club (who subsequently went into liquidation) and the case brought against them by HMRC for tax avoidance.</i><br />
<i><br /></i>
<i>From the off, Rangers were keen to keep things tight around the fringes and keep something extra in their locker – about £47m – rallying at every opportunity to keep HMRC at bay. Their strategy worked well and for much of the tussle, they remained untouchable. Their opponents had seen this formation and tactics before though, and continued to probe relentlessly until the cracks in Rangers’ rearguard action started to show.</i><br />
<i><br /></i>
<i>On a different day, and if Rangers’ gameplan had been on target, it might have worked. But, as the battle of wills wore on, all their attempts to think outside the box caused them to fall into their own offside trap. </i><br />
<i><br /></i>
<i>And, despite a valiant, backs-to-the-wall defensive display, they ultimately found themselves not in acres of space, but a quagmire of red-card trouble. Caught in their own net, they paid the ultimate penalty.</i><br />
<i><br /></i>
<i>What might have first appeared as a game of two halves and ‘a bit of handbags’ has now been decisively concluded. To lose the dressing room is one thing; to lose the entire football club is something that will cause them nightmares for years to come.</i><br />
<i><br /></i>
<i>This is Mike Hardigan-Fitzbaddely, North of Watford. In the rain.” </i><br />
<br />
For those of us not versed in empty footballing parlance, following an appeal, The Supreme Court finally ruled in favour of HMRC who claimed that Rangers’ complex Employee Benefit Trusts and sub-trusts structure amounted to avoidance of liability to pay Income Tax and Class 1 National Insurance contributions. This involved the payments of over £47m to players, managers, and directors of the football club between 2001 and 2010.<br />
<br />
We’ve all heard of schoolboy defending, although, in this case, it seems nowhere near as damaging as schoolboy accounting. Sometimes, claiming to give 110% clearly doesn’t work.<br />
<br />
And remember, it’s only a cliché if it doesn’t have that certain je ne sais quoi.<br />
<br />
<b>Until next month...</b><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-24289796752997675252017-07-10T20:36:00.000+01:002017-07-10T20:36:18.057+01:00Tour de France? On yer bike!<b><span style="font-size: large;">But a Cycle to Work scheme might tempt you back in the saddle…</span></b><br />
<br />
<span style="font-family: inherit;">It’s cycling season and, depending on where you sit as a commuter, it can be the best or worst time of the year.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">If it’s atop a razor-thin saddle, well, there’s still the joy of the open road and the freedom of gliding past standstill traffic. If it’s behind a steering wheel, you can find yourself averaging 15mph thanks to the pair of cyclists riding abreast in front of you. </span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">So, if you can’t beat them, why not join them?</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">Since the Cycle to Work scheme was introduced to promote a healthy commute to work, countless employees have made the most of its tax-free benefits, with some of their employers also enjoying NIC savings. But that’s only half the fun.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">Just look at some of the other benefits it offers…</span><br />
<span style="font-family: inherit;"><br /></span>
<b><span style="font-family: inherit;">You’ll feel fitter.</span></b><br />
<span style="font-family: inherit;">Maybe. Eventually. But only once you’ve become used to exercising for the first time since the Penny Farthing was invented, and after you’ve recovered from the aches and pains emanating from parts of you that you never knew you had until now.</span><br />
<span style="font-family: inherit;"><br /></span>
<b><span style="font-family: inherit;">It promotes quicker and more efficient work meetings.</span></b><br />
<span style="font-family: inherit;">Because even though you’ve invested in a deluxe air-cushion saddle and won’t leave the house without 3 pillows attached to your derrière, you still can’t sit down for the rest of the day. As a result, not only have you never moved around so gingerly, standing-only meetings have never proven so popular with you – despite everyone else in the room wondering why you’re being so restless.</span><br />
<span style="font-family: inherit;"><br /></span>
<b><span style="font-family: inherit;">It’s great for team-building.</span></b><br />
<span style="font-family: inherit;">Especially if you club together with colleagues and buy a seven-seater tandem. And don’t sit at the back not pedalling, or eating crisps there without telling anyone.</span><br />
<span style="font-family: inherit;"><br /></span>
<b><span style="font-family: inherit;">You’ve an excuse to kit yourself out in head-to-toe lycra.</span></b><br />
<span style="font-family: inherit;">Either as someone who actually knows what they’re doing, or as a fully-fledged member of the All-The-Gear-And-No-Idea Brigade (and often found as part of a peloton of MAMILs – Middle-Aged Men in Lycra).</span><br />
<span style="font-family: inherit;"><br /></span>
<b><span style="font-family: inherit;">It will save you a fortune in petrol.</span></b><br />
<span style="font-family: inherit;">Provided that: <span style="white-space: pre;"> </span></span><br />
<span style="font-family: inherit;">A) You’ve not invested an equivalent fortune in kitting yourself out in head-to-</span><br />
<span style="font-family: inherit;"> toe lycra. </span><br />
<span style="font-family: inherit;">B) You’ve not spent your savings treating yourself to a well-earned pastry or </span><br />
<span style="font-family: inherit;"> five on your arrival to work each morning. (This is particularly inadvisable for </span><br />
<span style="font-family: inherit;"> MAMILs.) </span><br />
<span style="font-family: inherit;">C) You still have the energy to cycle home and don’t have to pay someone to </span><br />
<span style="font-family: inherit;"> come and fetch you.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">Convinced? We thought not.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">In that case, how about the next best thing? Why not book some holiday in front of your TV this summer and watch a load of lunatics cycle 200km per day en route to Paris? </span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">It’s not tax-free but it’s a lot more relaxing.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;"><b>Until next month...</b></span><br />
<div>
<br /></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-88365074384690822752017-06-06T15:09:00.002+01:002017-06-14T14:01:10.949+01:00Bands, Burgers, and a Beer Festival…<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-size: large;">What’s better than an approachable accountancy
firm?</span><span style="font-size: 16pt;"><o:p></o:p></span></span></b></div>
<div class="MsoNormal">
<b><span style="font-size: 16.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;">An approachable accountancy firm with
beer, that’s what! <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Which is why we’re involved with one
of our local Beer Festivals this June...<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Have you ever wondered what a Beer
Festival run by accountants would be like? If you’re thinking drab, dry, and an
empty barrel of laughs, you’d be wrong. Well, certainly on this occasion.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Although if we were living up to
stereotypes, here’s our take on what some of the beers would be:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-indent: 18.0pt;">
<b><span style="background: white; line-height: 115%;">‘VAT Ninja’ 5.7%<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;">
<span style="background: white; line-height: 115%;">Smooth and sleek dark ale that creeps up on
you and packs a punch. Comprises delicate hops with no hint of what comes next.
Other than a heavy chocolate flavour and you feeling 20% more tipsy than you
should be.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-indent: 18.0pt;">
<b><span style="background: white; line-height: 115%;">‘Late Return’ 4.5%<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;">
<span style="background: white; line-height: 115%;">Convivial and perky IPA with a moreish, decadent
taste of warm summer and “Okay then, just one more...” Before you know it,
you’ve missed your bus home and it’s 4am.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-indent: 18.0pt;">
<b><span style="background: white; line-height: 115%;">‘Liquid Asset P60’ 4.6%<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;">
<span style="background: white; line-height: 115%;">A refreshingly hydrating, silky lager that’s
bursting with citrus zing and energy. So hydrating, in fact, that you’ll need
that extra zip to get up to powder your nose every hour.<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-indent: 18.0pt;">
<b><span style="background: white; line-height: 115%;">‘Double Digit’ 10.1%<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;">
<span style="background: white; line-height: 115%;">Light and fragrant craft beer with notes of tropical
fruits. Eminently drinkable but extremely potent such that it’s limited to two
pints per customer. Aptly named not just because of its alcohol rating but
because, after a couple, one finger always looks like two. <o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; text-indent: 18.0pt;">
<b><span style="background: white; line-height: 115%;">‘Accountant’s Delight’ 6.2%<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm;">
<span style="background: white; line-height: 115%;">The jewel in the crown and our favourite. Deceptively
good with intense malt flavours and almost magical qualities. Just one of these
and you’ll instantly find everyone around you witty, engaging, and oozing
personality. Especially accountants.<o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin-bottom: .0001pt; margin-bottom: 0cm; mso-add-space: auto;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="background: white; line-height: 115%;">As for the music,
you’d have to include classics like <i>Money,
Money, Money</i> (by ADDA) and <i>N.I.S.A.</i>
(by The Pillage People). And, of course, <i>We
Can Work It Out</i>, <i>Don’t Get Me Wrong</i>
and anything by The Magic Numbers…<o:p></o:p></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Okay, we’re not actually<i> running</i> a Beer Festival but we are delighted
to be the main sponsor of one – this month’s 6<sup>th</sup> West Hendred Beer
Festival, being held over the Friday evening and Saturday all-day of 16<sup>th</sup>
and 17<sup>th</sup> June.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">And if you've been to the festival
before you’ll know what a fun event it is. This year it’ll be better than ever with the introduction of a marquee, more live music, and the soon-to-be-famous
Chapman Worth Chilli Burger – it’s going to be hot, hot, hot!<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">For any clients who haven't been
before, why not pop along and let us buy you a beer? <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Most of the Wantage team will be there
and all talk of accountancy and tax is strictly off-limits – which is definitely
worth raising a glass to. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">And at least you’ll get the right
change.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;">Cheers!<span style="font-size: 14pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
<b><span style="background: white; line-height: 115%;">Until next month...</span></b>Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-10598048896530707812017-05-12T17:40:00.000+01:002017-05-12T17:44:44.594+01:00There’s a snap election on its way...<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit; font-size: large;">So how about this for a new way of voting?<o:p></o:p></span></span></b></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Finance Bill has been eavesdropping
again and thinks he could be on to something. <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Having become lost in the corridors of
Whitehall before Parliament is dissolved, he somehow found himself in the
Private Members’ Bar, ensconced in his favourite Chesterfield club chair and
sipping a Gloriously Clueless cocktail. Right next to a couple of Honourable
Members who appeared to be discussing horseracing…<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Now, even though listening to others’
conversations is somewhat rude, at times it’s just impossible not to hear
what’s being said – especially when you’re straining as best you can to filter
out the background noise.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">And despite knowing how rumours can be
started like this, Finance Bill was in no doubt. His ears pricked up when he
heard the words “<i>Prime Minister</i>” and
“<i>wanting to secure a strong stable</i>” for
“<i>National Interest</i>”. And then “<i>one-horse race</i>”. Whoever would have
guessed that the PM was entering a filly at Ascot!<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Still straining, he heard talk turn to
gambling and the members’ Thursday-night bridge and poker games; intermingled
with comments about other Right Honourable Members and exclamations of “Oh,
what a card!”<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">And then Finance Bill’s ears well and
truly pricked up. Was he really hearing this correctly? Either he’d uncovered a
cunning ruse, or else he’d completely got the wrong end of the stick. Not for
the first time.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">There was going to be a snap election!
An election decided by one of the oldest and simplest card games ever invented.
How ingenious! Finance Bill ordered another cocktail and filled in the gaps for
himself. Party candidates would be entered into the draw and matching pairs
elected with a jubilant cry of “Snap!”. And to prevent anyone unwanted taking
office, for effect, a candidate would still be entered, but, rather cunningly –
and unbeknownst to them – would only have one card…<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Just in case you’ve been living in
blissful isolation, the Prime Minister has decided to ever-so-slightly bring
forward the general election originally planned for 2020; and called a snap
election for 8<sup>th</sup> June 2017. And, as far as we know, it will still be
conducted in the traditional way.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Finance Bill remains unconvinced
though. He can’t stop thinking about the possibility of pulling out two Jokers.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;">Brenda from Bristol, over to you…</span></span><br />
<span style="font-family: inherit;"><span style="line-height: 115%;"><br /></span></span>
<span style="font-family: inherit;"><span style="line-height: 115%;"><b>Until next month...</b></span></span></div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-90497452713756550692017-04-12T17:22:00.001+01:002017-08-11T15:41:35.448+01:00A Free Easter Gift from Us to You…<div class="MsoNormal">
<b><span style="font-size: 16.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: inherit;">What’s the connection between Easter and MTD
for Business?<o:p></o:p></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">None whatsoever.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Nor is it anything to do with ‘Month
To Date’ or ‘Match of the Day’. <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">And the free gift doesn’t involve
chocolate.<o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><b><span style="line-height: 115%;">But it is worth knowing that</span></b><span style="line-height: 115%;"> <b>MTD
stands for <i>Making Tax Digital</i>,<i> </i>and it’s the biggest change to the UK
tax system for a generation.</b> <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;"><b><br /></b></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;">I</span><span style="background: white; line-height: 115%;">t’s part of the government’s plans to make
it easier for individuals and businesses to get their tax right first time and
keep on top of their affairs – meaning the end of the annual tax return as we
know it.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="background: white; line-height: 115%;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;">Moreover, its new guidelines <i>will</i> affect you…</span><span style="background: white; line-height: 115%;"><o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><b><span style="line-height: 115%;">The introduction of <i>Making Tax Digital</i> (MTD)</span></b><span style="line-height: 115%;">
<b>will fundamentally change the way
businesses, the self-employed and landlords interact with HMRC.</b> <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;"><b><br /></b></span></span></div>
<div class="MsoNormal" style="background: white; margin-bottom: 7.5pt;">
<span style="line-height: 115%;"><span style="font-family: inherit;">We’re moving towards a fully-automated digital tax
system and it’s starting now.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">By 2020, the
vast majority of businesses will be required to monitor their tax affairs
digitally and update HMRC at least quarterly via their digital tax account.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">More
specifically, businesses and landlords will be required to use commercial
accounting software to maintain their records and submit their updates.<o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal" style="background: white; margin-bottom: 7.5pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">Here
are the timelines:<o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="background: white; margin-bottom: 7.5pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><b><span style="line-height: 115%;">From April 2018:</span></b><span style="line-height: 115%;"> Sole traders/self-employed,
partnerships and landlords with </span></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><span style="line-height: 115%;"> income above £85,000.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><span style="line-height: 115%;"><br /></span></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><b><span style="line-height: 115%;">From April 2019:</span></b><span style="line-height: 115%;"> Sole traders/self-employed,
partnerships and landlords with </span></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><span style="line-height: 115%;"> income above £10,000.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><span style="line-height: 115%;"><br /></span></span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><b><span style="line-height: 115%;">From April 2019:</span></b><span style="line-height: 115%;"> Quarterly VAT reporting to commence
(instead of traditional VAT </span></span><span style="font-family: inherit; text-indent: -108pt;">returns).</span></div>
<div class="MsoNormal" style="margin-left: 108.0pt; text-indent: -108.0pt;">
<span style="font-family: inherit;"><span style="line-height: 115%;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><b><span style="line-height: 115%;">From April 2020:</span></b><span style="line-height: 115%;"> Quarterly
corporation tax reporting for companies. </span><span style="line-height: 115%;"><o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><span style="color: #6aa84f;">Want to know more? Here’s a copy of our MTD
brochure.</span><o:p></o:p></span></span></b><br />
<div class="MsoNormal">
<span style="line-height: 115%;">For more
information on the new guidelines, check out our Chapman Worth <i>Making Tax Digital</i> brochure here: </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="color: #38761d; line-height: 115%;"><a href="http://www.chapmanworth.co.uk/CW-Brochure-March17">http://www.chapmanworth.co.uk/CW-Brochure-March17</a></span></div>
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><span style="color: lime;"><br /></span></span></span></b>
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><span style="color: lime;"><br /></span></span></span></b></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="color: #6aa84f; font-family: inherit;">And your free gift? </span></span></b></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><span style="color: #6aa84f;"><br /></span></span></span></b></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="color: #38761d; font-family: inherit;"><span style="color: #6aa84f;">If you’re a business client and don’t yet
keep electronic records, get in touch before the end of April for your no-obligation
MTD review!</span><span style="color: #38761d;"><o:p></o:p></span></span></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Will you be
ready in time for <i>Making Tax Digital</i>?
<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Need more
help knowing what software you’ll need and how the new legislation will affect
you?<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Want to claim your free gift so that
you can just sit back and relax?<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Then get in touch with either our
Wantage or Witney office before the end of April, and we’ll arrange a free
review and consultancy appointment to take you through everything.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;">We may even have some chocolate left
over.</span><span style="font-size: 14.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-language: EN-GB;"><o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<b><span style="background: white; line-height: 115%;"><span style="font-family: inherit;">Until next month...</span></span></b>Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-41924848496947216272017-03-09T11:07:00.001+00:002017-03-09T11:10:52.627+00:00The New £1 Coin: Change is coming and it won’t be round for long…<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit; font-size: large;">Does having 12 sides mean it’s a dodecahedron?</span></span></b></div>
<div class="MsoNormal">
<b><span style="font-size: 16.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">We’re not sure either (apparently,
that’s a 3D polyhedron…) but what we do know is that the new £1 coin will have
12 edges.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">So, ahead of its introduction later
this month, here are 12 facts about the UK’s latest unit of currency:<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 1. </span><span style="line-height: 115%;">The current, round £1 coin is to be replaced after more than 30 years in
circulation. <o:p></o:p></span></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 2. </span><span style="line-height: 115%;">It’s to combat the excess of 440 million counterfeits that are currently
in daily </span></span><span style="font-family: inherit; line-height: 115%; text-indent: -18pt;">usage (that’s 1 in 30) and – with ‘hidden high security features’ – is
lauded as the </span><span style="font-family: inherit; text-indent: -18pt;">‘most secure coin in the world’. That’s all well and good but will
all the parking </span><span style="font-family: inherit; text-indent: -18pt;">meters, supermarket trollies and changing room lockers have
been upgraded in </span><span style="font-family: inherit; text-indent: -18pt;">time?</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 3. </span><span style="line-height: 115%;">The big day is 28<sup>th</sup> March. Which is a Tuesday. And completely
intentional.<o:p></o:p></span></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 4. </span><span style="line-height: 115%;">It’s going to look like a 20 pence piece. And could well be worth that
amount in just a few years’ </span></span><span style="font-family: inherit; text-indent: -18pt;">time…</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 5. </span><span style="line-height: 115%;">Unless you want to invest in a commemorative £1 coin now. Probably for more
than 10 times </span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit;"><span style="line-height: 115%;"> the </span></span><span style="font-family: inherit; text-indent: -18pt;">price.</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 6. </span><span style="line-height: 115%;">Notable event from history on 28<sup>th</sup> March: 845 AD – Paris was
sacked by Viking raiders, who </span></span><span style="font-family: inherit; text-indent: -18pt;"><span style="line-height: 115%;">then </span></span><span style="font-family: inherit; text-indent: -18pt;">left. Hence the Gallic shrug was born.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 7. </span><span style="line-height: 115%;">The existing £1 coin will become demonetised on 15<sup>th</sup> October
and cease to be legal </span></span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"><span style="line-height: 115%;"> tender. </span></span><span style="font-family: inherit; text-indent: -18pt;"><span style="line-height: 115%;">Which </span></span><span style="font-family: inherit; text-indent: -18pt;">means a bonanza for Pound Shops all around
the country before then. (However, </span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"> banks </span><span style="font-family: inherit; text-indent: -18pt;">should still be accepting them after
that for a fixed period.)</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 8. </span><span style="line-height: 115%;">It features a special hologram-like image that changes from a ‘£’ symbol
to the number ‘1’ when </span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"> viewed from different angles. Originally, it was going
to be the other way around.</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 9. </span><span style="line-height: 115%;">Notable event from history on 28<sup>th</sup> March: 1794 – The Louvre
opened to the public for the first </span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"> time. No Viking exhibits though.</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 10. </span><span style="line-height: 115%;">Although slightly larger than the round £1 coin, it
will be lighter and thinner. This is in recognition </span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"> of people with weak pockets
and whose job involves carrying lots of change.</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 11. </span><span style="line-height: 115%;">According to Baroness Rolfe, The Commercial
Secretary to the Treasury (and no relation</span><span style="background: white; line-height: 115%;"> to the </span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="background: white; font-family: inherit; line-height: 115%; text-indent: -18pt;"> pianist or veterinary surgeon from
The Muppets): “</span><i style="font-family: inherit; text-indent: -18pt;"><span style="line-height: 115%;">The
fact this coin is made in Wales makes it </span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<i style="font-family: inherit; text-indent: -18pt;"><span style="line-height: 115%;"> even more special as it underlines the
importance of the Union.</span></i><span style="font-family: inherit; line-height: 115%; text-indent: -18pt;">” And also coincides with The </span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"> Royal Mint being
located there since 1968.</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;"><span style="line-height: 115%;"> 12. </span><span style="line-height: 115%;">Notable event from history on 28<sup>th</sup>
March: 1964 – the first pirate radio station, Radio Caroline, </span></span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<span style="font-family: inherit; text-indent: -18pt;"><span style="line-height: 115%;"> was </span></span><span style="font-family: inherit; text-indent: -18pt;">launched off
the UK coast. The first song played was ‘Not Fade Away’ by The Rolling Stones.</span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNoSpacing">
<span style="font-family: inherit;">Let’s hope
the new £1 coin benefits from a similar sentiment. For another 30 years, at
least.</span></div>
<div class="MsoNoSpacing">
<br /></div>
<b><span style="background: white; font-family: "calibri" , sans-serif; line-height: 115%;"><span style="font-size: large;">Until next month...</span></span></b>Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-8769273844172383262017-02-03T15:09:00.003+00:002017-02-04T13:36:01.090+00:00HMRC Tales: Alternative Facts, Big Porkies and Absolute Whoppers...<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><span style="font-size: large;">What’s the best excuse you’ve ever heard?</span><o:p></o:p></span></span></b></div>
<div class="MsoNormal">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Alternative facts, doublespeak and Newspeak have been getting a lot of coverage lately.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">But whatever happened to good old
fibs, tall stories and being economical with the truth? You know – the sort
that make your nose grow a few extra inches and come out as a fantastical
excuse.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;">Well, HMRC are pleased to report that
there’s been a recent resurgence; coincidentally, around people appealing
against their penalties for submitting </span><span style="line-height: 115%;">their tax return late. <o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Try
these for size:<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<span style="line-height: 115%;"><span style="font-family: inherit;"><b>“<i>A
wasp in my car caused me to have an accident and my tax return, which was
inside, was destroyed.</i>”</b><o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<span style="line-height: 115%;"><span style="font-family: inherit;"><b><br /></b></span></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>My wife helps me with my tax return, but she
had a headache for ten days.</i>”<o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>I couldn’t complete my tax return, because
my husband left me and took our accountant with him. I’m currently trying to
find a new accountant.</i>”<o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>The postman doesn’t deliver to my house.</i>”
<o:p></o:p></span></span></b></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Sometimes,
the old ones are the best, even if they do lack a bit of originality: <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>My dog ate my tax return… and all of the
reminders.</i>”<o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>Someone told me the deadline was 31<sup>st</sup>
March.</i>”<o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<span style="font-family: inherit;"><b><i><span style="line-height: 115%;">“I work for myself, but a colleague
borrowed my tax return to photocopy it and lost it.”</span></i></b><b><span style="line-height: 115%;"> <o:p></o:p></span></b></span></div>
<div class="MsoNoSpacing">
<br /></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">And the
best one of all:<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>My tax return was on my yacht… which caught
fire.</i>”<o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">Try and
trump that if you can. Bigly.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">(It’s
too late now but if you ever think you might miss a deadline, let HMRC know –
there’s always help and support available for those with a genuine reason.)<o:p></o:p></span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">As if that
wasn’t enough, it even extends to excuses from unscrupulous
employers for paying less than the National Minimum Wage (NMW):<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>I’ve got an agreement with my workers that I
won’t pay them the NMW; they understand and they even signed a contract to this
effect.”</i><o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><i><br /></i></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>My workers like to think of themselves as
being self-employed and the NMW doesn’t apply to people who work for
themselves.”</i><o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;"><i><br /></i></span></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<b><span style="line-height: 115%;"><span style="font-family: inherit;">“<i>My accountant and I speak a different
language – he doesn’t understand me and that’s why he doesn’t pay my workers
the correct wages.”</i><o:p></o:p></span></span></b></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="line-height: 115%;">(These form
part of an awareness campaign to encourage workers to
check they’re receiving at least the statutory minimum wage ahead of the NMW
and National Living Wage (NLW) rate rises on 1 April 2017.)</span><span style="background: white; line-height: 115%;"><o:p></o:p></span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">…Incidentally,
you wouldn’t believe what a lucky escape we had the other day. </span></span><br />
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span>
<span style="line-height: 115%;"><span style="font-family: inherit;">Whilst working
late to clear all the tax returns in time for the deadline, suddenly the whole
building started to shake, and we were struck by bright lights and a deafening,
humming sound. Convinced that Armageddon was imminent or we were about to be
abducted by aliens, we smiled ruefully at what would have been <i>the</i> excuse of all excuses... <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: inherit;">And then Mavis
our cleaner walked in with her new turbo vacuum cleaner.<o:p></o:p></span></span></div>
<div class="MsoNoSpacing">
<br /></div>
<b><span style="background: white; line-height: 115%;"><span style="font-family: inherit;">Until next month...</span></span></b></div>
</div>
Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-321530526488283402017-01-17T18:13:00.001+00:002017-01-17T18:42:16.130+00:00Latest warning from HMRC: If it smells a bit phishy…<div class="MsoNormal">
<b style="font-size: 12pt;"><span style="font-family: inherit; font-size: large;">Ever been caught out hook, line and
sinker?</span></b></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">We may not admit it publicly but we’ve
all encountered a </span><span style="font-size: 12.0pt; line-height: 115%;">Bighead</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"> or Bigmouth.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">How about a </span><span style="font-size: 12.0pt; line-height: 115%;">Fathead</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">, </span><span style="font-size: 12.0pt; line-height: 115%;">Flathead</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">
or </span><span style="font-size: 12.0pt; line-height: 115%;">Sarcastic Fringehead</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">? </span><span style="font-size: 12.0pt; line-height: 115%;">Forehead Brooder</span><span class="MsoHyperlink"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"> or </span></span><span style="font-size: 12.0pt; line-height: 115%;">Southern Flounder</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">?<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Then there’s the </span><span style="font-size: 12.0pt; line-height: 115%;">Dusky Grouper</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">s, </span><span style="font-size: 12.0pt; line-height: 115%;">Three-Toothed Puffer</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">s and Chubs</span><span style="font-size: 12.0pt; line-height: 115%;">ucker</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">s. And not
to mention the occasional </span><span style="font-size: 12.0pt; line-height: 115%;">Aholehole</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">…<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;">It’s why we
should be on our guard. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;">Phishing
scams are everywhere, and taxpayers are no exception. They’re more than just unwanted email messages; they
allow criminals to exploit members of the public to gain access to your
personal and financial data, which can lead to fraud and identity theft.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;">Thankfully
though, HMRC has brought in new controls to combat this and reported they’ve reached
a milestone in reducing the estimated 500 million phishing emails that are
sent to taxpayers every year. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;">Whereas,
previously, fraudsters could make HMRC phishing emails look more authentic (by
making them appear as if they’d come from a genuine HMRC domain – most commonly
<i>@HMRC.gov.uk</i>.), they’re now much
easier to spot due to the new DMARC security system: Domain-based Message Authentication,
Reporting and Conformance.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;">As a result,
HMRC has already significantly reduced the number of phishing emails that reach
taxpayers by 300 million.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-font-style: italic; mso-bidi-theme-font: minor-latin; mso-fareast-language: EN-GB;">And w</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-language: EN-GB;">hilst this
doesn’t mean an end to HMRC-based phishing, taxpayers should notice less of it;
and those emails that do get through the ‘net’ might not look as legitimate. <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-language: EN-GB;">Even so, still
be particularly cautious if you know anyone called </span><span style="font-size: 12.0pt; line-height: 115%;">Alfonsino</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">, Ray or </span><span style="font-size: 12.0pt; line-height: 115%;">Mora</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">; </span><span style="font-size: 12.0pt; line-height: 115%;">Jack Dempsey</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">, </span><span style="font-size: 12.0pt; line-height: 115%;">John Dory</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">
or </span><span style="font-size: 12.0pt; line-height: 115%;">Tommy Ruff</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">. Do beware any </span><span style="font-size: 12.0pt; line-height: 115%;">Olive Flounder</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">s,
</span><span style="font-size: 12.0pt; line-height: 115%;">Nurse Shark</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">s, </span><span style="font-size: 12.0pt; line-height: 115%;">Pirate Perch</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">es
and </span><span style="font-size: 12.0pt; line-height: 115%;">Queen Danio</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">s.<o:p></o:p></span></span></div>
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<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
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<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">And remain just as wary if you receive
anything from someone purporting to be an </span><span style="font-size: 12.0pt; line-height: 115%;">Emperor</span><span class="MsoHyperlink"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">, </span></span><span style="font-size: 12.0pt; line-height: 115%;">Sergeant Major</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"> or </span><span style="font-size: 12.0pt; line-height: 115%;">Flier</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">; Cobbler,
Sweeper or </span><span style="font-size: 12.0pt; line-height: 115%;">Stargazer</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">. Even Tailors, Trumpeters and Squeakers
shouldn’t be let off the hook lightly. Oh, and anyone claiming to be a </span><span style="font-size: 12.0pt; line-height: 115%;">Warty Angler</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">.<o:p></o:p></span></span></div>
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<span style="font-family: inherit; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: inherit;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-language: EN-GB;">Let’s just
hope that these new measures don’t inconvenience those interested in receiving genuine
fishing-related communications.</span><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><o:p></o:p></span></span></div>
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<b style="background-color: white; font-family: inherit; font-size: 12pt;">Until next month...</b>Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.comtag:blogger.com,1999:blog-7785555013280103436.post-79516033303333735382016-12-09T18:18:00.003+00:002018-01-09T18:59:36.142+00:00It’s the Season of Goodwill! So Here’s a Self Assessment Gift from HMRC…<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
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<b><span style="font-size: large;">Why do something now when you can leave it
to the last minute?</span></b></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Unsurprisingly, that’s not the
Christmas message from HMRC – especially with the 31<sup>st</sup> January deadline
fast approaching. And yet, when it comes to submitting tax returns, it’s
exactly what most people do.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">That’s why HMRC have come up with a
seasonal incentive that has win-win written all over it: the festive period is
an ideal time to get your tax return out of the way and make yourself scarce
from all the cooking, washing-up and forced cheeriness with distant relatives
who you’ve been dreading all year.<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Apparently, last year more than 2,000 taxpayers
filed their tax return online on Christmas Day whilst nearly 25,000 others filed
theirs on New Year’s Eve. There were even 600 taxpayers who submitted between
midnight and 10am on New Year’s Day! <o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">That’s a lot of people who regarded
their tax affairs as a much more attractive prospect to whatever else they had
going on at the time. Or perhaps they were made up of excited accountants who
simply couldn’t wait to try out their new calculators. Or who were just bored
and lonely. <o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Either way, it’s the perfect ‘out’ for
anyone wanting to duck their yuletide responsibilities – just remember to mention
that it’s a particularly complex return this year and you absolutely can’t
afford to neglect it…<o:p></o:p></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><br /></span></div>
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<span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">For the record:<o:p></o:p></span></div>
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<ul>
<li>Any tax due should <span style="font-size: 12pt; line-height: 115%;">also be paid
by 31<sup>st</sup> January, including payment of any Self Assessment liability (for
2015-16), and any payment on account (due for 2016-17).</span></li>
<li>As it’s so late in the year, returns can only now be filed online so if
you’ve not yet registered for the online service, you need to do this asap.</li>
<li>A £100 penalty also applies for late submissions, even if there was no
tax to pay or any tax due was paid on time.</li>
<li>Taxpayers with certain underpayments for 2015-16 can have this collected
via their tax code (in 2017-18), provided they’re employed or receiving a
UK-based pension – but need to request this by 30<sup>th</sup><span style="font-size: 12pt;"> December 2016.</span></li>
</ul>
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<br /></div>
<span style="font-size: 12pt;">Incidentally, copious amounts of mince
pies and sweet sherry have been non-scientifically proven to be the perfect accompaniment
to completing your online tax return at this time of year. </span><span style="font-size: 12pt;">And best consumed
whilst hidden from view under the stairs, away from endless chores and annual
Aunty Flora.</span><br />
<br />
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<span style="background: white; font-size: 12.0pt; line-height: 115%;"><b>Until next month...</b><o:p></o:p></span></div>
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Chapmanworthhttp://www.blogger.com/profile/07462704505964207867noreply@blogger.com