Accountants Northamptonshire

IR35 Tests

mike — Thu, 10 May 2012 13:05:00 +0000

HM Revenue and Customs have issued some new guidance on the Intermediaries Legislation, commonly known as IR35.

In the new guide, they have published a series of business entity tests to determine the risk banding a business may fall into for IR35 purposes.

The tests will enable HMRC to build up a picture of how a business works and how it provides its services to clients.

There are 12 tests and include such questions as does the business own/rent premises separate from a home address/client address; does the business possess Professional Indemnity Insurance; does its contractual terms include a right of substitution and is this ever implemented and is there genuine client risk i.e. evidence of unpaid work.

The tests score a series of points and are categorised as follows:

Less than 10 points – High Risk

10 to 20 points – Medium Risk

More than 20 points – Low Risk

However, the guide stresses that every case depends on its own facts and the banding does not automatically mean you are within or outside the IR35 rules.

The guide, which is available for download on the HMRC website, also contains some hypothetical examples of businesses considered either within the scope, outside the scope or borderline IR35 cases.

Seed Enterprise Investment Scheme

mike — Fri, 04 May 2012 11:49:12 +0000

From 6 April new companies can receive up to £100,000 in way of investment by offering new shares in their ventures. For the investor in what are often inherently risky ventures there is on offer tax relief of 50 per cent of the amount invested plus if they have made a capital gain on an asset this year which they invest in the scheme they will will be exempt from paying Capital Gains Tax on that asset. This potentially gives effective tax relief of 78%.

Furthermore, a disposal of shares held under the scheme will be exempt from Capital Gains Tax after a 3 year qualifying period.

Michael Paul Accountants Northamptonshire – Business Networking Event

paul — Wed, 04 Apr 2012 11:23:48 +0000

Paul from Michael Paul Accountants Northamptonshire is treasurer of the Working Breakfast networking group which meets in Market Harborough on a weekly basis. The group also holds a monthly Business Agenda event which is free for local businesses to attend.

Following on from the March launch of The Business Agenda (which saw almost 90 local business owners turn up) the April event is looking just as promising. Alastair Campbell will again be hosting an evening which promises some useful business ideas as well as plenty of networking opportunities.

Your free to attend monthly networking event this month will include guest speaker Jonathan Staples who has enjoyed a varied career, starting off in BBC radio and moving up to head of production at News Direct in ITN. His presentation promises to be highly entertaining and features clips of vintage TV commercials.

We had a great response at the last meeting with lots of positive feedback for both the event and guest speakers. For some pictures from last month visit http://bit.ly/H6grA2 . We are hoping that we can maintain the success and create a vibrant networking group that will continue to benefit members each month.

You are invited to attend this month’s meeting – and are welcome to bring up to 3 colleagues. You are also very welcome to invite friends, suppliers, clients and anybody in business who you think will enjoy the event. It is free for everybody to attend. This is made possible by Working Breakfast and The Innovation Centre.

How to attend

The Business Agenda takes place on Tuesday April 17th between 5pm and 7pm.

It is free to attend but you MUST reserve your place in advance. To do so, just or e-mail agenda@idealmarketingcompany.com or call 01858 44 55 43.

Tea & coffee are provided

Bring plenty of business cards

There is also some space for brochures or other promotional material

It takes place at The Harborough Innovation Centre – http://www.harborough-ic.co.uk/

Michael Paul Accountants Northamptonshire – Annual Returns

paul — Fri, 30 Mar 2012 13:49:05 +0000

Paul from Michael Paul Accountants Northamptonshire briefly explains what an annual return is and when it must be completed.

An annual return is a snapshot of general information about a company’s or LLP’s (limited liability partnership) officers, registered office and (if appropriate) shareholders and share capital. The term officers refers to directors and company secretary’s.

Every company must deliver an annual return to Companies House at least once every 12 months. It must be filed within 28 days after the anniversary of either:

the incorporation of a company
the made up date of the last annual return

Although Companies House still accept paper annual returns it is cheaper and generally easier to file the return online. You can get more information regarding filing annual returns online from the Companies House website by clicking here.

At Michael Paul Accountants we file our clients annual returns on their behalf at no charge (other than a recharge of the filing fee).

If you have any queries regarding annual returns or any other taxation or accounting matters please don’t hesitate to contact us. We are based in Lamport in Northamptonshire making us conveniently located for the towns of Kettering, Northampton, Corby and Market Harborough.

Michael Paul Accountants Northamptonshire – My New Business

paul — Mon, 26 Mar 2012 12:46:06 +0000

Business Link has created a new area to its website called ‘My New Business’

My New Business provides an online suite of education, guidance and support tools on tax – as well as wider business related topics. It’s aimed at helping those looking to start a business as well as existing businesses who are looking to expand.

To access the site please click here

Alternatively Paul and Mike at Michael Paul Accountants are always happy to offer advice to individuals and businesses regarding starting up in business, registering as self employed, company formations and any other accounts or taxation matters so please don’t hesitate to contact us. Based in the village of Lamport Northamptonshire, from Michael Paul Accountants Kettering, Northampton and Market Harborough are all within easy reach.