VAT Accountancy Services's Profile
Former VAT auditor, with 25 years experience, offers VAT & accountancy services
VAT returns completed and submitted. (Related bookkeeping can be undertaken.)
Assistance with late return submission & negotiating time to pay.
Checking last 4 VAT returns in order to determine if VAT payment liability can be reduced by transfer to authorised VAT scheme.
Assistance with HMRC tax assessments.
Completion of self assessments.
Completion of annual P & L accounts & Balance Sheet.
Based in Lincolnshire.
Can visit Lincolnshire clients.
http://www.brownbook.net/account/profile/28334
Friday, October 30, 2009
Londons Cheapest Utilites
Londons Cheapest Utilites
5% CashBack on your other household shopping
Unlimited "Free Global calls"
Peace of mind on energy prices
All your utilities on the same monthly bill
Award-winning UK-based customer service
Exclusive membership discounts
https://www.utilitywarehouse.co.uk/home/index.taf?exref=857589
5% CashBack on your other household shopping
Unlimited "Free Global calls"
Peace of mind on energy prices
All your utilities on the same monthly bill
Award-winning UK-based customer service
Exclusive membership discounts
https://www.utilitywarehouse.co.uk/home/index.taf?exref=857589
Monday, September 28, 2009
It is unlikely that the temporary reduction in the standard rate of VAT will be extended
It is unlikely that the temporary reduction in the standard rate of VAT will be extended beyond the end of the year after it was revealed that tax revenues have fallen sharply.
In July, the government borrowed £8 billion, during a month when the tax take is usually at a high.
Although the government has already predicted a public finance deficit of £175 billion for the current year, some analysts are forecasting a gap of as big as £200 billion.
Against the backdrop of a significant deterioration in state finances, the Treasury moved to re-affirm that the VAT cut, which saw the standard rate drop from 17.5 per cent to 15 per cent, will lapse, as planned, on 1 January.
For this year, the VAT reduction will end up costing the government some £12 billion in revenue.
A number of business groups have been lobbying for an extension to the reversion to the old rate or at least a delay in its timing.
But it is thought the Chancellor, Alistair Darling will give greater weight to concerns over the scale of the UK’s debt among the international money markets.
Figures from the Office for National Statistics revealed that VAT receipts for July were down 33.8 per cent on the same period last year.
Other business taxes have declined as well. Corporation tax yielded the exchequer 37.9 per cent less than a year ago, slumping to £6.3 billion as a result of diminishing profits, while income from National Insurance contributions also fell
In July, the government borrowed £8 billion, during a month when the tax take is usually at a high.
Although the government has already predicted a public finance deficit of £175 billion for the current year, some analysts are forecasting a gap of as big as £200 billion.
Against the backdrop of a significant deterioration in state finances, the Treasury moved to re-affirm that the VAT cut, which saw the standard rate drop from 17.5 per cent to 15 per cent, will lapse, as planned, on 1 January.
For this year, the VAT reduction will end up costing the government some £12 billion in revenue.
A number of business groups have been lobbying for an extension to the reversion to the old rate or at least a delay in its timing.
But it is thought the Chancellor, Alistair Darling will give greater weight to concerns over the scale of the UK’s debt among the international money markets.
Figures from the Office for National Statistics revealed that VAT receipts for July were down 33.8 per cent on the same period last year.
Other business taxes have declined as well. Corporation tax yielded the exchequer 37.9 per cent less than a year ago, slumping to £6.3 billion as a result of diminishing profits, while income from National Insurance contributions also fell
Monday, August 24, 2009
Focus DIY in insolvency deal to save 5,000 jobs
Creditors of the retail chain Focus DIY are expected tomorrow to approve a company voluntary arrangement (CVA), an insolvency process that will save the retailer from administration and protect 5,000 jobs.
The Cheshire-based chain needs 75% of creditors – mostly landlords – to back a plan put together by the accounting firm BDO Stoy Hayward.
Under the proposal, Focus would drop the leases of its 38 closed stores, worth an annual £12m in rent, and in return offer landlords, including British Land, Land Securities and Aviva, a share of a £3.7m compensation pot, as well as further rate payments linked to the empty stores, a package worth about £6m.
"While the payout is less than the lease values, it's more than they would get if the firm went under," said the British Property Federation, representing the landlords.
Focus also wants the landlords of its 180 trading stores to accept monthly rather than quarterly rent payments until March 2011. The process would also see Focus's lenders – Lloyds Banking Group's HBOS and GMAC – provide a two-year extension to the firm's £50m revolving credit facility, due at the end of this year.
Focus, bought by the US private equity firm Cerberus in 2007 from its rivals Apax Partners and Duke Street, has been struggling for years amid a heavy debt mountain and dwindling sales. If the CVA fails, Focus could enter into a pre-pack administration, where receivers bundle the profitable parts of the company into a new business and sell it a process that usually leaves some creditors, such as landlords, without payment.
The Cheshire-based chain needs 75% of creditors – mostly landlords – to back a plan put together by the accounting firm BDO Stoy Hayward.
Under the proposal, Focus would drop the leases of its 38 closed stores, worth an annual £12m in rent, and in return offer landlords, including British Land, Land Securities and Aviva, a share of a £3.7m compensation pot, as well as further rate payments linked to the empty stores, a package worth about £6m.
"While the payout is less than the lease values, it's more than they would get if the firm went under," said the British Property Federation, representing the landlords.
Focus also wants the landlords of its 180 trading stores to accept monthly rather than quarterly rent payments until March 2011. The process would also see Focus's lenders – Lloyds Banking Group's HBOS and GMAC – provide a two-year extension to the firm's £50m revolving credit facility, due at the end of this year.
Focus, bought by the US private equity firm Cerberus in 2007 from its rivals Apax Partners and Duke Street, has been struggling for years amid a heavy debt mountain and dwindling sales. If the CVA fails, Focus could enter into a pre-pack administration, where receivers bundle the profitable parts of the company into a new business and sell it a process that usually leaves some creditors, such as landlords, without payment.
Monday, July 20, 2009
Who are the Utility Warehouse?
The Utility Warehouse is the trading name of Telecom plus PLC. We provide a range of essential everyday services to homes and businesses across the UK. Our aim is simple: to save our customers money and provide them with the best in customer service.
Since its beginning in 1996, Telecom plus has grown from just an idea into one of the largest and most successful companies listed on the London Stock Exchange. This phenomenal growth has been achieved by word of mouth referral marketing.
However, we believe that what we have achieved so far is just the beginning for the company.
The question is: would you like to share in our future success?
The management team is headed by Charles Wigoder (right), a successful and well respected entrepreneur. Before joining Telecom plus he founded Peoples Phone in 1988, building it into the UK's first virtual mobile network, with over 400,000 customers and 10% of the UK market.
Charles believes the Utility Warehouse is in the right place to experience substational growth over the next few years. We have recently bought a new Head Quarters building to accommodate the increase in staff we will need to manage this growth. This demonstrates the confidence we have in the future of the business.
http://www.utilitywarehouse.biz/index2.taf?exref=857589
Since its beginning in 1996, Telecom plus has grown from just an idea into one of the largest and most successful companies listed on the London Stock Exchange. This phenomenal growth has been achieved by word of mouth referral marketing.
However, we believe that what we have achieved so far is just the beginning for the company.
The question is: would you like to share in our future success?
The management team is headed by Charles Wigoder (right), a successful and well respected entrepreneur. Before joining Telecom plus he founded Peoples Phone in 1988, building it into the UK's first virtual mobile network, with over 400,000 customers and 10% of the UK market.
Charles believes the Utility Warehouse is in the right place to experience substational growth over the next few years. We have recently bought a new Head Quarters building to accommodate the increase in staff we will need to manage this growth. This demonstrates the confidence we have in the future of the business.
http://www.utilitywarehouse.biz/index2.taf?exref=857589
Wednesday, June 17, 2009
www.hubbardshills.com
Welcome
From the first of April this year the area known as Hubbard's Hills is now under the management of the Hubbard's Hills Trust Ltd.The Trust will in due course be developing this website. If you would like to contact us before then please e-mail Andrew Leonard.
The address is andrew.leonard@hubbardshills.com.
Please enjoy the facilities offered in this Area of Outstanding Natural Beauty.
Andrew Leonard[Chairman of the Hubbard's Hills Trust Ltd]
©hubbardshills.com 2009
From the first of April this year the area known as Hubbard's Hills is now under the management of the Hubbard's Hills Trust Ltd.The Trust will in due course be developing this website. If you would like to contact us before then please e-mail Andrew Leonard.
The address is andrew.leonard@hubbardshills.com.
Please enjoy the facilities offered in this Area of Outstanding Natural Beauty.
Andrew Leonard[Chairman of the Hubbard's Hills Trust Ltd]
©hubbardshills.com 2009
Thursday, June 11, 2009
Tax implications of the Vehicle Scrappage Scheme
Tax implications of the Vehicle Scrappage Scheme
The government announced at Budget 2009 the introduction of a temporary vehicle scrappage scheme. It is a voluntary scheme which will be administered by participating motor manufacturers and dealers, along with the Department for Business, Enterprise and Regulatory Reform (BERR). Information about it can be found on the BERR website and at Directgov - Motoring. You may also contact BERR’s enquiry unit on Tel 020 7215 5000, or email the BERR Automotive Unit with 'scrappage' entered in the subject heading.
A. VAT and direct tax profits implications
Vehicles supplied under the scheme will be subject to the normal VAT and direct tax rules. The purpose of this brief is to explain how those rules apply to the £1,000 subsidy payable by BERR on qualifying supplies made under their scheme, plus the £1,000 discount paid by the manufacturer.
Dealers
If you are a dealer participating in the Scheme and the manufacturer uses the arrangements above, the cost of the new vehicle received by you is unaffected, and you should make no adjustments to the VAT you pay to the manufacturer, or claim from HMRC as input tax. As explained above, the manufacturer is not providing a £1,000 (or greater) discount to you as part of the Scheme – they are providing it to your customer. Your selling price for the vehicle has not changed and you must not reduce your output tax. Whatever your final VAT-inclusive ( 'On The Road ') selling price of the new vehicle is, under the Scheme your customer pays £2,000 less, with the balance of the consideration being made up of the two £1,000 subsidies. Under the Scheme, it is important that it is clear to your customer that they are paying £2,000 less than would otherwise be the case – see Directgov - Motoring (opens new window)
The effect of the Scheme on the dealer is neutral for the purposes of computing trading profits. The £2,000 reduction in the sale proceeds received from the customer is matched by the £2,000 trade receipt received in the form of the subsidies paid to the dealer under the scheme.
Customers
Customers buying a new vehicle under the scheme will pay £2,000 less for the vehicle, since BERR will be paying £1,000, and the vehicle manufacturer will be paying £1,000 towards the cost of the purchase. The subsidies will be settled between the manufacturer, dealer and BERR so you will not physically be paid these amounts.
If you are VAT-registered and buy a new car or van under the scheme, you may need to reduce your input tax in respect of the manufacturer’s discount. However, you only need to consider this if you are entitled to claim VAT on the purchase of a vehicle – for example, on certain commercial vehicles, or a car that is intended to be used primarily as a taxi; driving instruction car, or self-drive hire (but see paragraph 3.1 of VAT Notice 700/64 ‘Motoring expenses’). If, under the normal VAT rules, you are entitled to reclaim the VAT you are charged on the purchase of a new vehicle and you buy one under the Scheme, you must reduce the input tax you claim in proportion to the manufacturer’s discount. This is because, at the beginning of the chain of transactions culminating in your purchasing the vehicle, the manufacturer will have reduced its output tax. Therefore, since the manufacturer contributes £1,000 and the standard rate of VAT is 15 per cent, you must reduce your input tax by £130.43. You will not receive an amended invoice or credit note. This is the normal VAT treatment for business customers receiving such manufacturer’s discounts - see Revenue and Customs Brief 08/07
http://www.webspawner.com/users/victor13/index.html
The government announced at Budget 2009 the introduction of a temporary vehicle scrappage scheme. It is a voluntary scheme which will be administered by participating motor manufacturers and dealers, along with the Department for Business, Enterprise and Regulatory Reform (BERR). Information about it can be found on the BERR website and at Directgov - Motoring. You may also contact BERR’s enquiry unit on Tel 020 7215 5000, or email the BERR Automotive Unit with 'scrappage' entered in the subject heading.
A. VAT and direct tax profits implications
Vehicles supplied under the scheme will be subject to the normal VAT and direct tax rules. The purpose of this brief is to explain how those rules apply to the £1,000 subsidy payable by BERR on qualifying supplies made under their scheme, plus the £1,000 discount paid by the manufacturer.
Dealers
If you are a dealer participating in the Scheme and the manufacturer uses the arrangements above, the cost of the new vehicle received by you is unaffected, and you should make no adjustments to the VAT you pay to the manufacturer, or claim from HMRC as input tax. As explained above, the manufacturer is not providing a £1,000 (or greater) discount to you as part of the Scheme – they are providing it to your customer. Your selling price for the vehicle has not changed and you must not reduce your output tax. Whatever your final VAT-inclusive ( 'On The Road ') selling price of the new vehicle is, under the Scheme your customer pays £2,000 less, with the balance of the consideration being made up of the two £1,000 subsidies. Under the Scheme, it is important that it is clear to your customer that they are paying £2,000 less than would otherwise be the case – see Directgov - Motoring (opens new window)
The effect of the Scheme on the dealer is neutral for the purposes of computing trading profits. The £2,000 reduction in the sale proceeds received from the customer is matched by the £2,000 trade receipt received in the form of the subsidies paid to the dealer under the scheme.
Customers
Customers buying a new vehicle under the scheme will pay £2,000 less for the vehicle, since BERR will be paying £1,000, and the vehicle manufacturer will be paying £1,000 towards the cost of the purchase. The subsidies will be settled between the manufacturer, dealer and BERR so you will not physically be paid these amounts.
If you are VAT-registered and buy a new car or van under the scheme, you may need to reduce your input tax in respect of the manufacturer’s discount. However, you only need to consider this if you are entitled to claim VAT on the purchase of a vehicle – for example, on certain commercial vehicles, or a car that is intended to be used primarily as a taxi; driving instruction car, or self-drive hire (but see paragraph 3.1 of VAT Notice 700/64 ‘Motoring expenses’). If, under the normal VAT rules, you are entitled to reclaim the VAT you are charged on the purchase of a new vehicle and you buy one under the Scheme, you must reduce the input tax you claim in proportion to the manufacturer’s discount. This is because, at the beginning of the chain of transactions culminating in your purchasing the vehicle, the manufacturer will have reduced its output tax. Therefore, since the manufacturer contributes £1,000 and the standard rate of VAT is 15 per cent, you must reduce your input tax by £130.43. You will not receive an amended invoice or credit note. This is the normal VAT treatment for business customers receiving such manufacturer’s discounts - see Revenue and Customs Brief 08/07
http://www.webspawner.com/users/victor13/index.html
Monday, June 08, 2009
Cashback Card
The Utility Warehouse CashBack card
The only payment card that gives you an extra 5% saving on: food and fuel at Sainsbury's, as well as clothing, DIY, health and beauty products, household and electrical goods... at leading retailers throughout the UK!
Participating retailers include: Sainsbury's, Argos, Halfords, Homebase, JJB sports, Topman, Topshop....
Top up your card with the amount of money you choose
Shop at any participating retailer and save 5% on top of any other special offers, sale prices, or discounts
Receive your savings as CashBack on your next Utility Warehouse bill!
There is no limit to how much CashBack you can receive!
The card is welcomed anywhere you see the MasterCard® acceptance mark. You can use it to shop online, over the phone and abroad. And because it's not linked directly to your bank account, you are protected from identity theft and fraud.
You can order a partner card with a main card - which shares the balance. Or order up to three sibling cards; each has its own balance - perfect for pocket money, or for sending money to a family member away from home - even abroad!
www.telecomplus.org.uk/857589
The only payment card that gives you an extra 5% saving on: food and fuel at Sainsbury's, as well as clothing, DIY, health and beauty products, household and electrical goods... at leading retailers throughout the UK!
Participating retailers include: Sainsbury's, Argos, Halfords, Homebase, JJB sports, Topman, Topshop....
Top up your card with the amount of money you choose
Shop at any participating retailer and save 5% on top of any other special offers, sale prices, or discounts
Receive your savings as CashBack on your next Utility Warehouse bill!
There is no limit to how much CashBack you can receive!
The card is welcomed anywhere you see the MasterCard® acceptance mark. You can use it to shop online, over the phone and abroad. And because it's not linked directly to your bank account, you are protected from identity theft and fraud.
You can order a partner card with a main card - which shares the balance. Or order up to three sibling cards; each has its own balance - perfect for pocket money, or for sending money to a family member away from home - even abroad!
www.telecomplus.org.uk/857589
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