Issue 13 - October 2011 (PDF - Chipping Norton Times

Confused by
our Tax System?
Contact
Robb Eden
for:
Accounts Preparation & Analysis
PAYE & Book-keeping
Vat Returns
Personal Tax
Sage Training
Business Tax
More than just accounts - a personal service tailored to
your needs. We will work with you to get the best from
your business.
01608 651802
robbeden@aol.com
As I am writing this, news is coming in that HMRC will be taking on up to
2,000 extra staff whose job it will be to monitor the activities of those who are
seeking to evade or avoid paying tax. No doubt these extra bodies will be more
than welcome but it doesn’t alter the fact that many of these jobs would not be
needed if our tax system were made simpler and fairer and allowed everyone to
keep more of the money they make in their pocket. Again & again I see people
who shouldn’t be in the tax system at all, pensioners, students and those who
earn so little that it costs more to collect the tax than is received. I realise that
now is not the time to be suggesting tax cuts but the Chancellor does have
some room for manoeuvre when setting personal allowances & implementing a
better & more efficient tax regime for those on low incomes. In the past, there
has been much talk of moving to a flat-rate scheme for all tax & I for one would
advocate any scheme that would reduce the burden of taxation and
bureaucracy. This may also avoid the regular amnesties, the latest being aimed
at businesses who are trading over the Vat threshold but are not yet registered
for Vat and give more officers at HMRC the time to concentrate on the people &
businesses who make it their business to avoid paying tax.
The months are ticking by and a number of tax deadlines are looming. If you
have been asked to submit a Tax Return and you wish to file this on paper then
you need to do this by the end of the month. The online filing deadline is 31st
January 2012. If you haven’t received a notice to submit a Tax Return but you
have additional income to declare, to year ending 5th April 2011, then you
should either request a paper Return to file immediately or submit the
information online by the date requested.
We’re already half way through the tax year so perhaps it’s a good time to
review your payroll & accounts. By checking this information now you could
save yourself a lot of trouble at tax year-end. If you run a payroll you should
check weekly or monthly summaries so that the job of filing your P35 at yearend
is not made any more difficult. Also, if your accounting year-end comes up
over the next few months it would also be wise to spend a little extra time in
making sure that your paperwork is in order. Remember, the more you can do
now the less you will be charged by your accountant for sorting out any
problems at a later stage.
If in doubt about filing any of your Returns, or if you simply want help in
organising your paperwork, then give me a ring. I will be more than happy to
help you to run your business more efficiently.
Robb Eden is based in Moreton-in-Marsh. He can be contacted via
e-mail at robbeden@aol.com or by telephone 01608 651802.
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