Archive for August, 2012

Business Record Checks on Hold

August 31, 2012

HMRC has suspended the programme of business record checks. But the bad news is there will be more targeted checks on specific businesses. Early last year HMRC announced that a special task force would be visiting businesses at random to check the standard of their record keeping. Originally, HMRC intended to make 50,000 visits; this […]

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Who Needs to Complete a Tax Return?

August 29, 2012

The tax return filing season is on the way. And if you are not sure whether you need to file a tax return or not, the following points will help you to come to a conclusion. 01. Are you self-employed If you’re self-employed (including being a member of a partnership) you always have to complete […]

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Difference between the Single and the Double Entry System of Bookkeeping

August 24, 2012

Single entry system of bookkeeping as the name itself says does not follow the double entry system and this means the single entry system will not record or give effect to the two fold aspect of each and every transaction. Under the single entry bookkeeping. a bookkeeper uses a cash book and other books to record […]

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Auditors in Fulham

August 17, 2012

If your business meet the audit threshold, it is highly likely that you will be subjected to an annual statutory audit. In the standard audit reports that accompany financial statements, the auditor’s responsibility is to express their opinion on whether the company’s accounts presents a true and a fair view.

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Tax Advisors in Putney

August 15, 2012

Do you have any idea about the latest tax investigation special forces teams de4ployed by HMRC to catch tax dodgers? The latest approach by HMRC has lead to the launch of five new investigation task forces to speed up the process of catching tax evaders. They will carry out targeted tax enquiries. What are the […]

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A Fairer View on Penalties

August 10, 2012

For late submissions of self assessment tax return, HMRC has changed the way they charge penalties. Even when he spots a mistake in a tax return the way they charge penalties have changed dramatically.

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How the Latest Growth Forecast May Affect Your Business

August 9, 2012

The Bank of England has cut its growth forecast to close to zero from about 0.8% predicted in May. And this leads to the intensification of the as the double-dip recession. The quarterly inflation report of the Bank of England has indicated no growth for 2012, compared with 2% predicted a year ago.

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Basics in Bookkeeping

August 3, 2012

Though is seems like a laborious process, bookkeeping has some major benefits for any business. Generally speaking, bookkeeping has two basic goals: To keep track of your income and expenses; This enables you to make significant decisions to make profits To collect the necessary financial information about your business to file your various tax returns. […]

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