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Telephone 01323 412191 Fax No 01323 400070 mobile 07805 379291 Lo-call 0843 523 6451 Principal : David J. Cox Associate : Pat Gumbrell
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DAVID COX ASSOCIATES David J. Cox, Accountant & Tax Consultant Payroll - Employer returns - SAT returns - VAT returns - Company returns - Company House filing |
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All clients are visited without additional charge. The first visit is free and without any obligation. Accountant in EastbourneIf you are looking for an accountant in Eastbourne or the surrounding areas, David Cox is the name to trust. He offers a friendly personal service and looks after the accounts and tax affairs of many small businesses, including sole traders, partnerships and small companies not needing an audit. In addition he handles VAT records, payroll and personal tax, including investigations and tax appeals. The first visit is entirely free of charge for up to 1 hour of consultation time and without any obligation. If you have a specific subject that you require advice on, this will be charged at standard rates. After the last minute rush to complete the 2011 Tax Returns it has been decided to increase incentives for clients to produce their books in April, May and June. The current fee level will be maintained if we have your books no later than 30th June 2012. After that date there will be a surcharge. That way extra staff can be employed to cope with late comers. First for Tax in Eastbourne and surrounding areasAre you looking for a professional tax consultant and accountant based in the Eastbourne area, then look no further than David Cox. He offers a friendly personal service for all aspects of tax and accountancy, including accounts preparation and self assessment tax returns, and payroll. David's aim is to prepare your accounts and your tax return ensuring you pay the least tax within the law and that you don't fall foul of the legislation. HMRC are using a new method of investigation now and it is clear that taxpayers who do not keep proper records will be hit the hardest. David looks after the accounts and tax affairs of many small businesses, including sole traders, partnerships and small companies not needing an audit. In addition he handles VAT records, VAT online, payroll, PAYE online, SELF ASSESSMENT TAX RETURNS for individuals, partnerships and companies completed and submitted on line and personal tax, including investigations and tax appeals. The area covered is from Eastbourne to Bexhill, Brighton, Chiddingly, Hailsham, Hastings, Heathfield, Lewes, Newhaven, Pevensey, Polegate, Seaford, Stone Cross, Tunbridge Wells, Uckfield, Willingdon, and all of the surrounding areas of East Sussex. Many of David's clients have been with him since the 1970's and include builders, electricians, hotels, florists, taxi drivers, dental surgeons, carpenters, engineers, plumbers, painters, equestrian centres, carpet fitters, aromatherapists, reflexologists, hairdressers, entertainers, magicians, disc jockeys, wild life rescue and electrical wholesalers. ACCOUNTS are prepared for tax and management purposes for sole traders, partnerships and small companies. David can be reached on the telephone day time, evenings and most week-ends. The times are shown below. You can also contact him by email, text or fax. When out of the office calls are diverted to his mobile number. He normally visit clients on Saturdays or in the evenings when books are collected or returned and advice is given. Charges are for the time spent on the client's affairs and not for any travelling. CHARGES ARE BELOW AVERAGE but without sacrificing ACCURACY & PERSONAL SERVICE. There has been a major mailing error at HMRC in which 17,000 final reminder letters have been sent in error. The issue was first reported on Tuesday about an elderly client who received a final reminder for a missed SA final payment. The taxpayer had actually made the payment in December, which clearly shows on his account and was confirmed by the agent help line. Another member experienced exactly the same situation and reports have come in elsewhere that people have been getting late penalty letters warning of referrals to debt collection agents and further penalties after three and six months. An HMRC Working Together co-ordinator, responded that it was a “known issue”. The official comment was that SA359 Payment Reminders may have been issued to some customers who paid their 2010/11 balancing payment on time. “This problem has arisen because payments received on the 14 to 16th December, although credited to the correct customer accounts, were not allocated to outstanding charges until after the reminders had been selected for issue.” The Sun picked up the story this morning, reporting that 17,000 letters had been sent. HMRC apologised for the lapse, which was reportedly caused by a computer mistake, and cancelled the penalties. We await official confirmation. The original complainant was not happy. “The explanation that this is a known problem is just not good enough. Do HMRC appreciate the distress such incorrect notices cause taxpayers? Not to mention the cost to produce and send these notices. And also the time, costs and aggravation to agents who have to sort it out.” LATE TAX RETURNS WHERE CLIENT DOES NOT HAVE A UTR [ unique tax reference ] “If the client has not notified HMRC by 5 October that they have untaxed income or additional tax due for 2010/11 they have a failure to notify offence. This would normally attract a penalty based on the tax outstanding on 31 January 2012, but this can be subject to a reduction for voluntary unprompted disclosure - which if done within 12 months of 5 October can be zero. “If a tax return was issued before 31 October then it must be filed by 31 January 2012 or a penalty is due. If no tax return was issued by that date then the due date is three months after issue and no penalty can apply until after that date - whether filed on paper or online. “For those coming out of the woodwork now (Jan 2012) who are not on HMRC's radar you have late notification which can be resolved as above but no late filing penalty. If in doubt get a calculation of the tax and recommend payment by Tuesday or purchase of certs of tax deposit. There is no point wasting time trying to file now as it achieves nothing in terms of penalties.” See TERMS. The figures quoted as examples all assume that you are writing your books up using our files on a spreadsheet such as Excel. The first visit is entirely free of charge for up to 1 hour of consultation time with no obligation but if you have a specific subject that you require advice on, this will be charged at standard rates. See the terms link on the left. As part of the initial service, once instructed, David will set up your computer to keep your book-keeping records in Excel ( or Works or Star Office ). You will need to purchase the software and he will install his files free of charge. A free follow up visit is made to check that everything is ok. At the end of the year you supply a copy of the excel files, bank statements and invoices and David then completes your accounts. Accounts can be prepared from written records but this is more expensive to cover the extra time involved. At the same time David can assist you in setting up internet banking totally free of charge. If you are a pensioner with income from pensions, taxed interest and dividends, he will call on you and complete your return and submit it to the Revenue over the internet for an all inclusive fee of £75. We can keep your books on our computer system, calculate your payroll services or complete your VAT return, set you up with a web site and email address(es) and help with management accounts and completing those forms which are "thrown" at businesses. All this can be tailored into a package especially for you. My Associates can keep your VAT records, payroll and book-keeping for you. VAT returns from £180 per quarter. Payroll from £20 per month. HMRC has announced an extension of its Business Records Checks programme Business Records Checks involve checks on the adequacy of small and medium-sized enterprises’ records. A pilot found that around 44 per cent of businesses have problems with record keeping, while approximately 12 per cent have seriously inadequate records. HMRC will now extend this activity from mid-September to cover key areas across the UK. You could face a heavy fine up to £3,000 HMRC has announced that five ‘ghost’ plumbers have been arrested and a further 600 are under civil investigation for failing to pay the right amount of tax. The arrests and investigations follow a campaign targeting plumbers, the Plumbers Tax Safe Plan (PTSP), which invited them to come forward voluntarily and put their tax affairs in order. John Pointing, assistant director at HMRC Criminal Investigation, said the raids and arrests of ‘ghosts’ - people who have not declared income from the work they do - are the culmination of months of work by HMRC. “We provided a chance for those we have arrested, and the 600 we are investigating, to come forward voluntarily and put things right” said Pointing. “These arrests send a clear message that HMRC will take action against those who choose not to come forward and pay the tax they owe” he added. This is the start of co-ordinated action and more raids are expected to take place over the coming weeks across the UK, including Yorkshire, Kent, Cambridgeshire, Tyne & Wear, Midlands and South Wales. Mike Wells, director at HMRC Risk & Intelligence Service, added: “These arrests are just the start. HMRC is considering hundreds of further cases for criminal investigation in the plumbing and medical professions. Some people may have thought we were bluffing when we said we have information that we will use to prosecute tax evasion.” Gary Ashford, who represents the CIOT on the Compliance Reform Forum, also noted that the raids are further evidence that HMRC is entering a new phase with these disclosure campaigns. “They have had limited success with the numbers coming forward in the recent medical and plumbers disclosure opportunities, so they are getting tough with those who didn’t register or disclose” he said. “People should not underestimate the amount of data that HMRC is holding. What we are now seeing is HMRC starting to use that information. The net is tightening on those who break the law” Ashford added. Under the PTSP scheme plumbers, gas fitters, heating engineers and members of associated trades who owe tax that they had not declared faced a penalty rate of 10%, with a maximum of 20% if they disclosed in full. While the guarantee of terms within the PTSP are no longer on offer (the deadline was 31 May), HMRC has left the PTSP disclosure route open for those in the plumbing industry who have unpaid tax to disclose but who have still not come forward. They have until 31 August to arrange for payment. A campaign targeting VAT cheats was also recently launched and further HMRC campaigns targeting private tutors and e-marketplaces will start during the next year. Plumbers looking to come forward should telephone 0845 600 4507 or visit the HMRC website.
Millions paying 'the wrong amount' of tax click for story. Telephone answered Mondays to Fridays from 10.00 AM to 7.00 PM Saturdays from 10.00 AM to 4.00 PM Associate Member of the Certified Public Accountants Association - ACPA Registered under Money Laundering Regulations with HM Revenue & Customs Registered under the Data Protection Act. Away game result: Redknapp 1 – 0 HMRC
Monday, 13th February 2012
The big tax story over the past few weeks has been the trial of Harry Redknapp and Milan Mandaric who were accused of cheating the public revenue. HM Revenue & Customs argued that payments made by Mr Mandaric from the USA to Mr Redknapp’s account in Monaco were actually a payment for services in connection with his work at Portsmouth Football Club which should have been subject to income tax. However, the defendants denied the charges and were believed by the jury who found them not guilty of all charges. Having an offshore bank account – even an account in the name of your dog – is not illegal, but if the amounts deposited into the account represent income, then this must be declared to HMRC if the owner is resident and domiciled in the UK. Similarly, if the account earns interest then this will also be subject to UK income tax. HMRC will, of course, be watching for cases where offshore accounts are use to evade tax, but there may be perfectly valid reasons for a UK taxpayer to have an offshore bank account. A common reason might be if funds are received or are required abroad – perhaps rent from a foreign property and to hold funds for the maintenance of it. A more technical reason might occur where an individual is resident in the UK, but not domiciled here. Such taxpayers may be taxed on monies that are brought into the UK, so a payment to an account outside of the UK will prevent a remittance being made to this country. If you have an offshore bank account, do make sure that both your UK and offshore tax obligations are being complied with
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