Summer 2017 Newsletter

Portal

Since the introduction of our new client Portal last summer, we have seen rapid client uptake of digital approval of Financial Statements, Corporation Tax Returns and Personal Tax Returns and we are pleased this has met with widespread approval. The Portal provides a secure means of communication and allows a trail of correspondence to be maintained in a safe and secure environment rather than being buried amongst all your other emails.Over the coming year, our intention is to increase the use of Portal for our day-to-day communications with you. Our payroll services, however, will still be provided by a different Portal, which many of you will already know as Secure Document Exchange. This is a deliberate policy to ensure payroll is kept confidential and separate from the Portal. 

Confirmation Statements

We have now had a full annual cycle of submitting Confirmation Statements for those clients for whom we provide this service. Most clients will have found the submission of Confirmation Statements more complicated than the previous Annual Returns. Further changes have now been made to the process whereby the Persons of Significant Control form has become separate from the Confirmation Statement. Companies House’s objective is that changes are reported not just on an annual basis but as and when they take place, including any changes in the new Person of Significant Control category. Therefore, if you believe there has been any statutory change within your company, you should contact us or, if you submit your own Confirmation Statements, follow up directly with Companies House. 

Making Tax Digital

Recent political changes and pressure on the government have resulted in a delayed implementation of Making Tax Digital (MTD). Therefore, only businesses with a turnover above the VAT threshold will now have to keep digital records, and for VAT purposes only. This will be a requirement from 2019. Businesses will not be required to keep digital records or update HMRC quarterly until at least 2020, rather than 2018 as was originally proposed.  We believe the drive to go digital should continue, and the sooner we adopt a cloud based digital environment for bookkeeping purposes the easier digital reporting will be when it finally arrives. We continue to encourage our clients to adopt the Xero platform for bookkeeping purposes. 

Family Friendly Summer Hours

As we are now in the summer months, our offices will be closing at 4pm on a Friday over the children’s summer holiday period. Therefore, from 28 July to 1 September we will be closing at 4pm on Fridays. Furthermore, we will also be closing early on 10 August at 4pm to facilitate our summer team building event.

Team Changes

Annie Seymour has been with us for the last 5 years and during this time she progressed from being a junior administrative assistant to office manager. In the last three years, with our support and encouragement, she has been studying for her Association of Accounting Technician Exams. She has made sufficient progress with these exams that from the 1 July she left our administration team and became a full time member of the accounts team. We are confident that, with our continued support and her hard work, she will successfully complete her professional exams with the aim of becoming a fully qualified accountant within the coming few years.

 Baraa Charary, who joined us last year, is making good progress with his ACCA exams and has recently passed his first professional paper. He has been a great asset in developing our working practices from paper-based to paperless files. This has been a project Baraa has successfully managed and we have now all become proficient in the use of hyperlinks and embedded PDFs on Microsoft Excel.

We are also pleased to announce that Baraa and Annie have both completed their Xero certification are now certified Xero advisers.

Many of you will know Shu Fen Isted, who has been a member of our team now for many years. We are pleased to announce that recently she has completed the Pathways transition and is now not only a member of the Associated of Chartered Certified Accountants (ACCA) but is also a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and we congratulate her on her achievement.

This September, Annie and Shu Fen’s daughters both start primary school and the parents amongst us will all recall the anxiety associated with this transition. As always, we will be offering Annie and Shu Fen extra flexibility in this period as they assist their children during this change. Therefore, their availability may be limited in the first few weeks of September. We wish them well in this new phase of parenthood.

Finally, we have recruited a young graduate, Jacob Cripps, into the administration team. He and Siobhan McMullan now manage and run the administration of our office.                                           

We wish you all a pleasant summer and look forward to working with you as always.

Author Name: 
Siobhan