Stoke Accountants Say £1m Is Lost In Unpaid Council tax
Only about 93 per cent of 240,000 population pay their council tax say Stoke On Trent Accountants. Labour councillor and accountant Sam Corcoran, who represents Sandbach Heath and East on the council, said: "People should be proud to pay their council tax, it pays for services." Paying your council tax is beneficial for everyone in the community, people that don't pay are taking an unfair advantage. Bayliffs can show up at your door to collect the cash, repossess your belongings, or even take you to jail.
Retired London Chartered Accountant – Rightful Owner Of Buried Gold Coins Worth £80,000
A family of Jewish refugees who fled Germany for England before the start of World War II buried some gold coins because they feared their money would be seized in a Nazi invasion. But after nearly 70 years in the ground, the so-called 'Hackney Hoard' of U.S. Double Eagle gold coins was unearthed when householder Terence Castle dug a pond in his garden.
Amazingly, a descendent of the original owner was found and Max Sulzbacher (retired London Chartered Accountant), 81, was proved at the inquest to be the rightful owner of the coins. Auctioneers Morton and Eden is selling the coins in association with Sotheby's in London, and their estimated value is around £80,000.
UNSC Accounts For Up To $60bn Of Arms Trade – Says Guildford Foreign Office Minister
Analysts estimate that Britain and the other four permanent members of the UNSC, along with Germany and Italy, accounted for around 85 per cent of the arms sold between 2002 and 2009. This is roughly a $45bn to $60bn business. The sale of surveillance technology also accounts for a multi-billion pound income stream.
Foreign Office minister, Lord Howell of Guildford, insists that "the government takes its export control responsibilities very seriously and does not license the export of controlled equipment where there is a clear risk that it could be used for internal repression or human rights abuses."
Financial Background = CEO
Demand for CEOs with financial experience has grown according to research by the FTSE100.
In the past 12 months almost 70% of appointed CEOs came from a financial background.
The report which was published through Robert Half FTSE 100 CEO tracker also found that nearly 50% of CEOs already employed came with a finance background. Phil Sheridan, MD said:
“As the economy continues to improve we are seeing increasing demand for leaders with strong financial skills set to guide organisations through challenging operating environments so that when they a merge they are a stronger more capable business.”
Not all businesses have the advantage of having a financial expert in their employment, let alone as CEO. This shows in statistics that reveal financial mismanagement as the number one cause of business failure.
Accounting services and other business services can be found through independent online business service finders such as Accountant Now and Business Consultant Now, both of which work with a network of experts helping you get a comprehensive service that works best for your business.
North East Accountants Needed To Help Businesses Take Preventive Measures
North East Company Hit By Government Defence Review
Gateshead surveillance firm Petards has been hit with a reduced profit as the effect of the governments defence review is starting to hit.
Profits are reported as dropping from £1.1m down to £0.4m, North East accountants have said that the reason behind this is the ‘significant impact on revenues from the Strategic Defence and Security Review and also the Comprehensive Spending Review’
Recent reports released have recommended that business owners revaluate their accounting and book keeping services regularly as they bid to empower their SME.
The North East is a hotbed for new business and it is hoped this will grow when a government funded enterprise zone on Teesside, the venture is hoping to both encourage people to set up businesses in the area and also move their current businesses.
The demand for Teesside tax accountants will increase as a result of this zone, with the possibility of many having to go further afield and look at Newcastle accountants or other North East firms as a result always likely.
UK Close To Tax Agreement With Switzerland
HMRC has revealed they are close to concluding a deal with Swiss officials over unpaid taxes on money held in the country.
As part of the deal UK domiciles with Swiss bank accounts will be expected to pay a withholding tax and a levy on previously untaxed income. Discussions have been taking place since an agreement with Lichtenstein was signed to allow people to pay a low penalty on previously untaxed earnings.
HMRC’s secretary for tax Dave Hartnett told professionals that a deal with the Swiss was likely to be announced in late May/Early June. However reports have recently revealed that it could be as early as next week.
As a business owner making sure that all finance is in order is a must, financial mismanagement is still the number on reason for business failure, even established businesses are advised to reassess their financial package every 12 months to make sure it is future-proof.
Accounting services are readily available through Google, however independent business service finders such as Accountant Now are sometimes the best option. Working with a network of industry experts means that you will get an expert local to you with an in-depth working knowledge of your area, its cultures and target market.
Scrap Car Networks
Working with a network of car breakers and garages means that Scrap-Car can offer you a more comprehensive, simplified service.
As soon as you fill in a simple online form the details of your vehicle are sent to the most local breakers to you. Meaning that you will likely deal with a company near to you.
Scrap car is now big business since the government followed on from Europe’s lead and introduced a scrappage scheme offering money off new vehicles in exchange for the scrapping of automobiles 10 years or older.
Even if a local buyer cannot be found for your vehicle you can still take advantage of the free vehicle collection and your vehicle will be taken from a location of your choice, meaning that your car doesn’t even have to be roadworthy.
Once your car has been taken away and you have been issued with the appropriate documentation you can download a V14 form from the DVLA website and claim back any car tax that you are entitled to.
All firms within the network are accredited by both local councils and environmental agencies so you can rest assured that your vehicle will be disposed of correctly and in accordance to EU and UK laws, imposed to try and curb the damage done to both the environment and the tax payers wallet when a car is dumped or disposed of incorrectly
Free marketing is essential for small businesses
Free marketing is essential for small businesses such as business forums, such as launchpad
However reliance on all things free can also become an obstacle. In what way? The answer is in many, but it largely deals with investment, so in the decisions we make as business owners.
I know this from personal experience. I seem to be the type, not like you I'm sure, who seems to have to make plenty, if not most, of the possible mistakes, before I finally learn what I need to know. It is just how I am made as a person.
I have run small businesses since my early twenties (as a successful young entrepreneur), and I have found that in every business there is good potential for growth, yet most small concerns never succeed in realising this potential. Again there are many reasons, such as owners choosing it as a 'lifestyle' rather than choosing to work for the benefits of managing a successful business; but one key reason for lack of success is management's lack of 'how to' details.
Accessing external expertise can a short cut to this, yet searching and finding the right business consultant in London or wherever your business is based, can be a real challenge.
Online UK small business support location services are one of the resources that can be useful and helpful in this regard. Often the initial advice is free, which underpins the argument of 'free marketing', the opportunity to grow the business to realise its full profit potential is the 'pearl of great price'. It is certainly something to think about, and perhaps taking some action to explore further the possibility of seeking external help and solutions for the current challenges you are facing.
Change the way HMRC do things
I am grateful to Richard Mannion, a director of Accountants and Financial Business Advisors Smith & Williamson, for bringing up the subject of recent HMRC error this with Ian Cowie of the Telegraph in the article: “New tax errors could spoil Christmas for thousands”.
The bottom line for the bungling is the appalling way HMRC is run, wasting many tens of millions of pounds of the Public Purse, which needless to say the UK doesn’t have. There is no excuse. The truth of course is that many Civil Service departments are extremely inefficient. A small hand-picked team of professional independent business consultants would probably sort Whitehall out within 6 months, half operating costs, increase productivity 10 times and transform the relationship between Government, the business community and the tax paying consumer.
If there is to be ANY benefit whatsoever of change of seats in House of Parliament which resulted in a coalition of 'soothsayers' then ADDRESSING THE SCANDULOUS INEFFICIENCIES OF HMRC WOULD BE A GOOD ONE TO FOCUS ON AS AN URGENT PRIORITY. Heavy handed tactics from an arrogant inefficient bureaucratic dinosaur is surely a government style e do not need in 21st Century Britain.
So what is the underlying problem? We are. Complicity and conformity. We accept and unacceptable, and secretly believe that nothing can be done nor any changes succeed.
Our choices:
Believe and succeed.
Ignore and remain asleep
UK Personal Insolvency indicative of health of UK Economy
140 IVAs per day. Second quarter of 2010, UK daily statistics (excluding Scotland) includes 140 new IVAs (Individual Voluntary Arrangements).
Statistics originally come from an article from Insolvency News website. I found the report on a Finance blog, together with a comment reportedly by PricewaterhouseCoopers suggesting these statistics "indicate that individuals facing financial pressures are taking affirmative action to address their difficulties". I would imagine that it is the rise of private companies specialising in IVAs that is driving growth in this niche sector of Insolvency.
Consumers who chose IVAs as the solution to their financial pressures, and personal or business debt are considerably better off than if they had decided to carry on and ignore the consequences and the eventual bankruptcy.
A typical IVA spans five years, a time shorter than it would take IVA consumers to pay off their original debts.
Many consumers are in fact self employed sole traders or directors of small and medium sized enterprises who have been trying to support their business despite poor performance. The line therefore between personal and business financial difficulties is often extremely blurred and fuzzy. Business failures are sometimes more expressed in their personal bad financial position as a result of their bad loans and duress payments to support their failing businesses.
Much of this trouble could be averted by running their business better obviously. Long before seeking protection via the IVA scheme, sole traders and business owners should seek professional advice and assistance from a business consultant to see how they could transform their business or exit it without a financial penalty. A professional chartered accountant, and sourced from a website like Accountant Now might also be helpful.
Normally, an IVA represents a financial structure of 60 monthly payments (and potentially equity release, if the consumer owns a property such as their offices or home). On the grounds that they are able to follow the schedule their debt is expunged i.e. written off. The IVA will remain on their credit report for 12 months afterwards since credit reports last for six years.
For any consumer facing the bleak situation of having to pay more than they can afford going forwards, the prospect of committing to 60 monthly payments is more attractive than their other alternatives.
IVAs however are not always the best solution in terms of insolvency. Consumers with serious debt problems in the UK end up choosing bankruptcy or a Debt Relief Order (DRO). Both these types of of insolvency release the individual from their obligation to repay their debts.
Since the variables of personal financial positions are many, one size does not fit all, and different financial and debt problems require a variety of different solutions. Some consumers may be able to avoid entering into a formal insolvency procedure at all.
Early warnings should be heeded, and it is highly advisable to at least discuss one’s financial and debt predicament as early as possible because the options will be more, and the solutions easier to deliver.
It is important to talk it over with a professional, such as a debt adviser or business consultant before committing yourself to any course of action. The Citizens Advice Bureau is an excellent resource for consumers in the first instance.