Sometimes when you are an employer, you might have happened to have made no wage or salary payments at all for the PAYE month. If you have not made any payments from 6 June to 5 July, then you must submit electronically an Employer Payment Summary as a NIL return by July 19th. This is too easy to overlook.
Construction Industry Scheme returns for the period from 6 June 2015 to 5 July 2015 should be submitted online by 19 July 2015. This includes NIL returns.
Employers must make First Quarter payments of PAYE and NICs by 19th July 2015 if settled by cheque. If you pay electronically, then you have until 22nd July to make the payment. Tax retained under the Construction Industry Scheme must also be paid by the same date.
George Osborne is planning to raise the inheritance tax threshold from £650,000 to £1,000,000 so a family home worth up to £1,000,000 can be inherited tax-free. In Cumbria, a house worth £1,000,000 is likely to be quite sizeable, but in the London area, it could still be a modest house. We could have a situation where a child lives at home caring for elderly parents, the parents die, and the child is then faced with a substantial inheritance tax bill on a house which is no mansion. It is as well to see the rules change to give some relief on this.
As an accountant, I use the Excel spreadsheet all the time. It may be timely to point out that it also makes a good scrapbook! I can copy and paste a photograph from the Internet, and then use Excel’s tools to crop and resize the photograph. It can be rotated and the brightness and contrast can be adjusted. Finally a coloured background can be added simply by filling all the cells with a selected background colour. Pictures of Pluto are currently getting this treatment, but you can do whatever you want.
Plenty has been written about search engine optimisation. Here we will comment on a related topic, namely keeping your website in a good position. The algorithms used by popular search engines can change by more than a hundred times a year, with the consequence that your placement can go up and down quite dramatically. We want to try to keep it up with some consistency. In the case of accountants in Carlisle, obviously we are the new boys, but our snippet says “come and look at our website and all the technology we use” in a way that other listings do not. We don’t mind being one or two places down the pecking order behind huge firms of accountants, but we do want a stable placement in the expectation of our snippet getting seen.
Most balance sheets are prepared in a format where a bundle of assets and liabilities are “financed by” the ownership interest. This is the format prescribed by the Companies Act 2006, which is in turn based upon the Fourth Directive of the European Union. Businesses which are not companies are free to prepare their accounts in any format which they find useful, and might like to consider the other principal format. This has the profit shown in the profit and loss account as the bottom line being replicated as the top line on the balance sheet. The profit feeds into the ownership interest, which “represented by” a bundle of assets and liabilities. We can show profits, then drawings, then a subtotal, and then other movements in business capital. The “represented by” section then appears as a confirmation of the calculation.
that we do, we will hold a little inquest to see how the job could have been done a bit faster using technological improvements. We will then make those improvements straight away. It helps here to have an accountant who is also a computer programmer, so he only has to hold a meeting with himself in order to get anything done.
If a business searches on Google for some combination of accountant(s) and Carlisle, we naturally want to make a good showing. We have organised our Google snippet and the top panel on Google+ using a features and benefits system of presentation. The features we want to mention in the short time and space that we get are the use of radical new technology and the existence of an online quotation system. The benefits are cheaper accounts and VAT returns, and a quick no-fuss quotation to confirm this. We also need to mention our location in Stanwix, and we want to try to plug everything seven times, which is the classic marketing formula.
Daniel Defoe was the author of The Complete English Tradesman. There are chapters in the book on the subject of reputation and credit. Let’s just suggest what sort of advice he might give today to Greece. I think he would say that the priority is simply to stay open for business. Greece has a lot of income from tourists, so all tourists, but particularly German tourists, must be made to feel welcome. They must at all times be able to withdraw cash from any ATM. They must not be plagued by civil commotion, beggars or anything else. We all know Greece has problems, but they must not be inflicted on a principal source of revenue.