PAH Accountants

Hi all, welcome back from me an the team (yes, team). I haven’t blogged for a while, hence the title of the post. So what has been going on?

Well, it really has been a manic few months for the practice. Due to a significant amount of growth I have moved out of the glorified shed (my cabin in the garden) and into an actual office unit. This has taken a considerable amount of effort, not necessarily the moving but the little extras that you need – Telephone and Internet (BT broadband problems), Carpetting (fitters delayed planned date for 3 days), filing (wanted to get my admin up to scratch!), Electricity (bombarded with calls as they knew I was moving in!).

But now things are getting back to normal. I mentioned the word team above. This is another change in the practice. Claire (my wife) has been working with me for a while, generally 4 days per week; however, she has always had an arrangement with Wadworth that she goes in there and covers for people when they are away – she has been there since July! I can however, officially welcome Hannah White to the team. Initially on one day a week she will be coming along and sorting my administration, some basic bookkeeping and keeping me organised (a mammoth task).

So as you can see the practice is moving in an upward direction. It is also becoming more systemised. From now on you should see a much better and more organised practice with even more added value being given to clients.

In addition to the above we have won an award. The bookkeepers network have voted me in their inaugural awards as the Most Innovative Accounting firm for 2011. It is a fantastic achievement and really reflects the hard work that is put in to perform the best for our clients.

So there you have it, a brief update of what is going on with the practice at the moment. I look forward to catching up with you all at somepoint – and I am still available to chat.

Phil Hendy

Within the UK VAT system there are situations that can occur where businesses will have to pay VAT to HMRC before they have been paid by their customer. This can be an absolute nightmare for cash flow within a business.

This is where bad debt relief can really help a business out. Where the business has accounted for the output VAT and paid it over to HMRC, but not yet received payment from the customer, it can claim a reimbursement for the outstanding amount. Small businesses really ought to be utilising this as

Claire and I today attended the FSB Trade Fair at Salisbury.

It was a great event, although a bit quiet on the people front.

This was a fabulous opportunity for us to get to know a few more people in a community where we don’t have a

As a great supporter of environmental issues, PAH accounting are always looking at ways businesses and individuals can help the environment. This months guest article is contributed by Chris Mattos of Randall and Payne accountants and explores the issue of Solar Panels. Not only are they very green but they could make a great business investment.

SOLAR PANELS – A BUSINESS OPPORTUNITY?

Whilst sitting on a sunny beach in Devon and enjoying the hottest April since records began, I hazily reflected that we weren’t barking up the wrong tree by highlighting the benefits of solar panels to our clients. This article looks at the business opportunity, briefly highlights some of the financing options and discusses the tax implications

It is absolutely essential for any business to be making a profit. It’s not always simple, especially in this current climate. Using my experiences of self employment and recent issues that have arisen with clients and contacts, I have identified some key ways that a small business can improves its profitability.

Review your charge out rates and pricing structure

Many small businesses, and in particular start-ups, are charging lower fees to try and win a client. Be confident with your

You may recently have received your self assessment tax notices from HM Revenue and Customs. It has come to light that they have sent out tens of thousands with the wrong date.  Don’t panic, this is another error by HMRC where they have sent them out asking for returns for 2009/2010 instead of 2010/2011.

It is not a problem and you still have the same need to complete the 2010/11 return.

Good old HMRC!

I couldn’t resist telling this true story that I was involved in at the pub recently (it was a Saturday, I deserved a beer!).

One of the pub regulars is setting up a shop in the local town. It is due to open in a few months and so their is plenty of time to get set up.

I have known this for a while and they had informed me in the past that they do not need an accountant as their partner is doing the books due to experience in law and accounts. I was not touting for their business

Your business needs to start making its customers aware of the VAT rate change as soon as possible. This will avoid misunderstandings and customer confusion. It is important to clarify that the increase is due to the VAT rate change and that it is a legal requirement.

It may also be appropriate to give customers practical examples of what the prices will be. Any business that

As ever at this time of year I like to issue a reminder to people that it is time to think about your personal tax returns. The deadline for submission of your tax return for the year ended 5 April 2010 is 31st January 2011. This tends to create a manic rush in December/ January for most accountants!

If you think you need to file your tax return and need some help, please do get in touch as early as possible.

Charity Accounts Update – Fit and proper persons test

The Finance Act 2010 brought in new measures that charities must adhere to in order to maintain their access to tax relief. This article looks in detail at the “Fit and Proper Persons test”, part of a new “management condition”.

The Fit and Proper Persons test forms part of the management condition, one of three new tests that charities must pass in order to claim tax relief on Gift Aid. (The other two tests are the jurisdiction condition – that charities fall under the jurisdiction of the High Court; and the registration condition, which governs the proper registration of charities under the Charities Act 1993.) The test has been brought in to make it harder for sham charities to operate and to prevent