AJM Accountants

Tax Return Filing Deadline due 31 January

tony — Mon, 16 Jan 2012 14:04:25 +0000

The filing deadline for your 2010/11 Income Tax Return is 31 January. Under the new fine regime any Return received after the filing deadline will incur a fine of £100. This fine will stand even if you are due a refund. The £100 rises the longer it takes you to file your Return so please don’t give HMRC any more than they are entitled to by making sure you file your Return before 31 January.

Electricians next on HMRC Radar

tony — Mon, 16 Jan 2012 13:58:07 +0000

Electricians are the next to be targeted for special attention by HMRC. Following on from Restaurants, Plumbers, Fast Food Outlets and Tutors HMRC have again offered any

recalcitrant Electrician a reduction in their Penalty if they volunteer to make good any under declarations. The take up in the past has been varied but the resultant HMRC

investigations have been genuine.

Tutors and Coaches next for HMRC special scrutiny

tony — Mon, 10 Oct 2011 16:47:51 +0000

HMRC have announced that Tutors and Private Coaches are next for special scrutiny. Any such people have

until 6th January 2012 to notify them that they will declare such income and until 31st March 2012 to actually

disclose the previously undeclared income and pay the tax due to save on the penalties that will be charged if HMRC are not

notified and they become aware. This is the latest in targeted HMRC campaigns and if you have any such income

which you have omitted to declare then get in touch on 01078-437917 OR carry on and hope that HMRC are unsuccessful in

finding you.

Thinking about taking on staff?

tony — Fri, 07 Oct 2011 10:39:40 +0000

Employing staff causes small businesses the most worry according to recent surveys. At AJM we can help you understand all your responsibilities and we will be responsible for all your payroll needs from payslips to maternity pay to sick pay. So if you want to take on staff give us a call or if you already have staff and want us to handle your payroll for you get in touch you will be surprised how little it costs and how much worry is taken off your shoulders.

Don’t Be Late With Your Tax Return

tony — Fri, 07 Oct 2011 10:34:51 +0000

Failing to lodge your Tax Return with HMRC by 31 January will cost a MINIMUM of £100 irrespective of what you owe even if you owe nothing.

The rate of fines increases significantly for each day late thereafter. So if you have to complete a 2011 Income Tax Return don’t wait any longer to get your records etc to your Accountant. If you handle these matters yourself, do so now and don’t leave it the last minute.

Cover your Costs in the event of HMRC Investigation

tony — Fri, 22 Jul 2011 13:53:18 +0000

With HMRC spending more and more time investigating ever more businesses it makes sense to cover the cost of

fighting your case should you be picked for investigation. Cover costs as little as £90 so take some of the worry

out of your business and get covered.

HMRC adds Fat Food Outlets to its list of Targets

tony — Fri, 22 Jul 2011 13:44:14 +0000

The second of the 22 new HMRC Task Forces as been announced and it is into “Fast Food” outlets.

The first was into Restaurants.

Hornchurch and Essex will not be exempt and if you operate a Restaurant or a Fast Food Outlet why not get in touch

and we can review your record keeping procedures to make sure that they are as “robust2 as they should be.

HMRC Extend Use of Debt Collectors

tony — Thu, 30 Jun 2011 06:13:15 +0000

HMRC have recently passed significant amounts of taxpayers debts to debt collection agencies.

This initiative together with a far tougher stance on liquidating companies and bankrupting individuals for non payment of tax debts has proven to be a “commercial” success for HMRC to the extent that they are passing more debt to the debt collectors.

If you are having trouble meeting your tax debts please don’t delay in talking to HMRC about your problems. Doing nothing and hoping that funds will be forthcoming is not the best way to proceed.

HMRC Target Restaurants

tony — Thu, 30 Jun 2011 06:03:20 +0000

HMRC have announced that they are setting up 22 new style “Task Forces” specialising in specific sectors that they feel require “looking into”.

The first has been announced and it is Restaurant and cafes. They are starting their investgations in London and the South East moving around the country throught the year. I doubt Hornchurch will be exempt.

The other 21 task forces have yet to be announced.

If you are concerned about this and are worried that maybe you records and systems may not stand up to close scrutiny then why not get in touch on 01708-437917 and ask for Tony.

Massive Increase in HMRC Fines

tony — Sat, 02 Apr 2011 10:00:32 +0000

HMRC have announced massive increases in late filing penalties which will hit all Hornchurch businesses and self-employed people if they

file their 2010/11 Tax Returns late. In the past if you filed 3 months late the fine was £100 or the tax that was due whichever was the lower.

Now the fine will be £900 even if you have no tax to pay. There are also significant increases in the interest charged for late payment of your tax.

At AJM we can help you keep up to date which would mean you would never be late in making a Return. Give us a call on 01708-473917 ask for Tony

and see how we can help.