How often do you attend a networking meeting and see a number of your competitors?
If you get the sinking feeling then maybe you need to think again. Last night I found myself in a packed room with at least three other accountants. Joining in a brief conversation with one, I learnt that this accountant is taking on audit work. That’s great because I have never had any desire to carry out audits for companies. Now I know who to turn to when I need an auditor.
Another of my competitors, again a qualified accountant spoke for a minute on his practice’s strengths and mentioned inheritance tax planning. Again – this is not an area that I wish to cover.
Every business has its niche and area of expertise. I am a management accountant and finance director with a focus on profitability, cash … Read More »
Deadline to register for self assessment tax return is 5th October
You may never have worried about filling in a tax return before now. Unfortunately you could be in for a shock and a penalty if you fail to register a new source of income for the tax year ending April 2013. You have until October 5th to register any change in circumstances with HMRC. This is particularly likely to affect those employees with earnings over £50,000 still claiming child benefit.
So Who Needs to complete a tax return?
You need to complete a self assessment tax return if any of the following apply:
You are self-employed
You are a company director, unless it is a non-profit organisation and you don’t receive payments or benefits
You are a Minister of Religion of any faith
You are a Lloyds Name/Member
You have annual income over £100,000
You are an employee/pensioner … Read More »