This is set to change by 2015, as the government plan to make changes by allowing any employee the right to request flexible working hours.

If an employer decides to give a reference, they should make sure it paints a realistic view of the indvidual and does not include any discriminatory comments. Abscence may be included, but permission  must be given by the individual before doing so.

Employers should not be worried about giving references, but it is wise to set out policies and guidelines for this as to the type of reference given and who can give a reference from within the company. It would also be wise to include a disclaimer of liability on any reference to guard against negligence.

Many people think that by doing their own bookkeeping, they will be saving themselves money. In fact, if you are under-qualified and unsure of the bookkeeping, you will be costing yourself more time and money in the long run, as your accountant will have to pick up the pieces in order to produce your year-end accounts. Therefore, it is advisable to appoint a qualified bookkeeper to make sense of your finances, so you can improve your cashflow.

These rates can be very expensive, so it is worth finding out whether the car can be owned by you personally, instead of the company.  If this is the case, then you are able to claim back the business mileage at the prescribed rates.

Please feel free to contact CJS if you require any further information.

To avoid a penalty of £100, electronic submission of tax returns is required not later than 31st January 2012.  The penalty will apply even if there is no tax to pay, or if the tax due for the year has already been paid on time.    After three months the penalty increases by £10 per day up to a maximum of £900.  After six months a further penalty of 5% or £300, whichever is the greater, will apply.  After twelve months the penalty will increase to 100% + interest.

31st January is also the deadline for paying any tax due.

If you need any assistance with your tax return, please contact CJS Accounting as soon as possible – tel: 01582 432227.

DOWNLOAD THE CJS ACCOUNTING E-CHRISTMAS CARD HERE!!

• Ask your suppliers for credit
• Try asking your customers to pre-pay for any goods or services you supply.
• If this is not possible, offer your customers a discount for prompt payment. This will encourage customers to pay early.
• If you find yourself in financial difficulty, it is possible to go to your bank for a loan. You will need to present them with a business plan. But be aware, they may ask you for a personal gurantee, which could involve a collateral security against your home. Therefore, be very confident in your business plan, before putting your personal assets at risk.
• If your company is unable to provide security, it is likely your bank will not be willing to lend the money. If this is the case, try getting finances from elsewhere, possibly from someone who already has an interest in the company, for example, a customer or supplier.
• Lastly fund your financial situation with a credit card, although this is not recommended.

Here at CJS Credit Control Services, we aim to provide a local cash collection service for all businesses.   Do not hesitate to contact us if we can help

• Before making a claim, be sure to carry out a credit check on the customer, to confirm they have assets to be seized.
• Keeping a written confirmation of any order or work that is to be carried out, also a signature to sign off completion of work, this will be very beneficial, as documented evidence makes pursuing a claim a lot easier.
• File your own claim online via HM Court Service. This process is very straightforward, and if undefended, you then ask for judgement.
• Once you have judgement, it would be advisable to use an agent to collect outstanding debts.

CJS Accounting now deals directly with collection of overdue debts, by our new business wing of CJS Credit Control Services.  Our aim is to provide a local cash collection service for all businesses.

PAYE Return Forms (P35)

The PAYE Return Forms for 2010/11 were due for submission by 19^th May 2011, which means the Taxman should be processing them by now.  This year this might well prompt a review of payment dates.

Penalties

Any late PAYE tax and NI payments due for 2010/11 will be liable for a penalty.  If one late payment is made, there is no penalty.  If you make two late payments, then you could incur a penalty equal to 1% of the amount overdue.  This fine increases on a sliding scale until, where payments are late eleven times in a tax year, it is 4%.

Points to remember

If you have made one or two late payments, make a note of each payment, so they are easily available for future reference.  This could save you a great deal of time and effort and avoid a dispute with the Inland Revenue.  Another important point to remember is do not volunteer this information, only offer it if you are being threatened with a penalty first.

Should you have any tax issues, or need help completing your tax return, contact CJS Accounting.

1. Claim your tax credits – £3.7 billion is not being claimed.  You don’t lose anything by ringing up and asking.
2. Review your savings.
3. Plan ahead regarding capital gains and inheritance taxes.  When you are old, it will be too late!
4. Pensions – don’t miss out on your tax incentives provided by the Government on personal pensions.
5. Make sure you hire a good accountant – they will pay for themselves.

I hope you have found all of these tips useful over the past few months and, if you wish to make a free, no-obligation appointment to see where you/your business can save tax or money, feel free to contact CJS Accounting.

CJS Accounting recommends talking with Business Coach, Dale Rockell, to discuss this area.  Dale will not only increase your confidence and approach to social media, he will also create the appropriate platform and hand hold you through the early stages.