This is the blog for Clay Shaw Butler, chartered accountants and business consultants of Carmarthen and Porthcawl.
Saturday 30 July 2011
Tribunal criticises HMRC
Tribunal criticises HMRC for delay in issuing penalties. See full story - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2573
Advice from HMRC re Self Assessments
HMRC advised that there are apparently more Self Assessment statements than usual to issue this year. See full story - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2572
Wednesday 27 July 2011
Spotlight on GO Wales student
GO Wales graduate skills website puts spotlight on Clay Shaw Butler's Gareth Thomas -
http://ning.it/nIKk5T
http://ning.it/nIKk5T
Latest Clay Shaw Butler column from the Carmarthen Journal
In the words of the Dad’s Army character Lance-Corporal Jack Jones, “Don’t panic!”
When you are faced with the sometimes bewildering array of accounting software packages available for computers, the temptation may be to close your eyes and pick the first one off the shelf.
Here are some tips for making your mind up –
What are your requirements for the software?
For example, if you need a system to replace your basic book-keeping function of cashbook and simple receipts and payments reconciliations then a basic package will suffice. Should you need highly sophisticated stock control, reporting, e-commerce functions etc, then more complex packages will be required.
What are your plans for the future?
Consider the next 12-24 months and whether there will be rapid expansion in the business.
What market sector are you in?
There may be specialist packages which can specifically help run businesses in your industry more efficiently and effectively.
What is your budget for the cost?
Although this should not be your primary reason for choosing a package it has to be part of the decision.
What training will you need?
The skills of present staff members and potential new employees need to be considered.
What hardware and software do you have presently?
Accounting packages, like all software, have minimum hardware requirements. You may need to invest in upgrading current equipment to ensure the system can run the package properly.
What is your plan for implementation?
Installing a new accounting package needs to be planned in detail in order for the minimum disruption to occur to your routine business transactions.
Without wishing to sound like a salesman, Clay Shaw Butler are Sage Business Partners and have a full team of experienced staff who can help you with all aspects of the Sage software packages.
As they say on the BBC, other packages are available!
For more about Clay Shaw Butler, see their website -http://www.clayshawbutler.com
You can contact Clay Shaw Butler on 01267 228500
Tax event due on August 2
The following Tax Events are due on 02 August 2011:
Deadline for submitting P46 (car) for employees whose car/fuel benefits changed during the quarter to 5th July 2011
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individuals coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this may be notified online.
Deadline for submitting P46 (car) for employees whose car/fuel benefits changed during the quarter to 5th July 2011
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individuals coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this may be notified online.
Wednesday 20 July 2011
Date for second £100 tax penalty looming
The following Tax Events are due on 31 July 2011:
Second £100 penalty if 2009/10 tax return due by 31st January 2011 still outstanding
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities. There is an additional penalty imposed on 31st July 2011 if your return for 2009/10, which was due for submission by 31st January 2011, has still not been submitted.
Second payment on account 2010/11 due. Second 5% surcharge on any 2009/10 outstanding tax due on 31st January 2011 still remaining unpaid.
What this means for you?
The balance of any outstanding income tax, Class 4 NI and capital gains tax for the year ended 5th April 2010 was due for payment by 31st January 2011. Where any of the liability is still outstanding a 5% surcharge will be added to the outstanding liability. Interest is charged on any late payments.
The second payment on account in respect of income tax and any Class 4 NI is also due for payment by 31st July 2011.
Second £100 penalty if 2009/10 tax return due by 31st January 2011 still outstanding
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities. There is an additional penalty imposed on 31st July 2011 if your return for 2009/10, which was due for submission by 31st January 2011, has still not been submitted.
Second payment on account 2010/11 due. Second 5% surcharge on any 2009/10 outstanding tax due on 31st January 2011 still remaining unpaid.
What this means for you?
The balance of any outstanding income tax, Class 4 NI and capital gains tax for the year ended 5th April 2010 was due for payment by 31st January 2011. Where any of the liability is still outstanding a 5% surcharge will be added to the outstanding liability. Interest is charged on any late payments.
The second payment on account in respect of income tax and any Class 4 NI is also due for payment by 31st July 2011.
Tax event due on August 2
The following Tax Events are due on 02 August 2011:
Deadline for submitting P46 (car) for employees whose car/fuel benefits changed during the quarter to 5th July 2011
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individuals coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this may be notified online.
Deadline for submitting P46 (car) for employees whose car/fuel benefits changed during the quarter to 5th July 2011
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individuals coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this may be notified online.
Clay Shaw Butler helps GO Wales project
A leading Carmarthenshire business is helping to pave the way in building links with education.
Chartered accountants and business consultants Clay Shaw Butler have signed up for the innovative GO Wales project, which makes it possible for students and graduates to develop their careers through quality work experience and training opportunities.
“GO Wales is an exciting project and one which should interest any business keen to develop young talent,” said Clay Shaw Butler director David Butler.
This summer, the team at Clay Shaw Butler has been joined by 19-year-old Gareth Thomas (pictured above), who lives in Carmarthen and studied at Ysgol Gyfun Gymraeg Bro Myrddin.
The 12-week placement is a big stepping stone for Gareth to going to Cardiff University to study Business Management and Finance.
“I am interested in a career in business and finance, so the GO Wales placement with Clay Shaw Butler has been ideal. It has given me a taste of the ‘real world’ work environment and the encouragement to go on and achieve my degree,” Gareth said.
A keen sportsman who plays cricket for Carmarthen Wanderers Cricket Club’s first XI and is also a member of Carmarthen Golf Club, Gareth has enjoyed working alongside Clay Shaw Butler’s business consultant, Nigel Roberts.
Gareth added: “I have carried out a wide range of duties during my stay at Clay Shaw Butler and I have also been working towards the City & Guilds Professional Development Award. This award is an accredited, professionally-recognised qualification that is equivalent to a Higher Professional Diploma.”
Mr Roberts said: “It has been a delight to have Gareth as part of the team at Clay Shaw Butler during his placement. All businesses are aware of the need to build our skills base and ensure that we grow the knowledge economy in Wales. The GO Wales scheme is one way of helping to achieve those objectives.”
David Butler welcomes Gareth Thomas
GO Wales is managed by the Higher Education Funding Council for Wales (HEFCW) and the project is delivered by University Careers Services in Wales. GO Wales receives funding from the Welsh Government and the European Union Social Fund (ESF).
The project aims to provide almost 4,000 students and graduates with training and development opportunities to prepare them for their future careers.
GO Wales offers a range of services proven to help students, graduates and businesses in Wales including: work placements, funding for training, an online database of jobs in Wales and the Graduate Academy.
Thousands of businesses in Wales have already benefited from the GO Wales programme.
GO Wales projects include -
Graduate Training and Development: GO Wales Graduate Training and Development Fund offers financial support for training and development of graduate level staff in Welsh SMEs. You may be able to access up to £1,500 per person to up-skill your business.
Work Placements: GO Wales Work Placements give you the opportunity to attract the best students and graduates to your business. Employ a skilled individual to work on a short term project and receive a subsidy towards the salary costs.
Advertise a Job: GO Wales Jobs is the only free website in Wales dedicated to graduate recruitment. Businesses and other organisations in Wales can advertise an unlimited number of vacancies via our online vacancy advertising service.
Work Tasters: GO Wales Work Tasters are extremely flexible and designed to provide students and new graduates with a 'taste' of a particular career or working environment.
You can find out more on the GO Wales website –
http://www.gowales.co.uk
The Clay Shaw Butler website is at –
http://www.clayshawbutler.com
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