When Should I Register For VAT?

 As a growing small business you should consider when you should register for VAT. If you’re in business, supplying goods or services within the UK and your turnover for the previous 12 months is more than the registration threshold (£79,000 at the time of writing), or if you expect it go over the threshold in the next 30 days alone then you must register for VAT. If you don’t want to register for VAT you may be able to apply for an exception if you have exceeded the limit temporarily. If you have taken over a VAT-registered business from someone else and your VAT taxable turnover over the last 12 months when added to the same for business you’re taking over exceeds the threshold, then you must register for VAT. The temporary exception mentioned above may also be available. If you are in the UK & have received goods from other European Union countries (known as acquisitions) with a total value of £79,000 or more in the current year since 1 January or you expect to acquire more than that value in the next 30 days alone then you must register for VAT. If you are supplying goods or services from the UK to other countries we suggest you give us a call or have a look at the HMRC website as this can be a complicated area. www.hmrc.gov.uk/vat/start/register/when-to-register.htm#4   If you have any queries regarding VAT registration please feel free to contact us and we’ll do our best to...

read more

Useful Resources

www.accaglobal.com The Association of Chartered Certified Accountants www.hmrc.gov.uk H M Revenue & Customs www.companieshouse.gov.uk Companies House Bis.gov.uk The Department for Business Enterprise & Regulatory Reform (The New DTI) www.sage.co.uk Sage Accounts Software http://quickbooks.intuit.co.uk/index.jsp Quickbooks Accounts Software www.microsoft.com/uk/smallbusiness/products/ office-accounting-professional-2008/overview.mspx New Accounting Software from...

read more

Fears of energy supply disruption

Fears of energy supply disruption

The manufacturers organisation, the EEF has warned that some Yorkshire manufacturers are concerned about losing their power supply this winter. Andy Tuscher the regional director for the North has been quoted in the Yorkshire Post as saying, “We need an energy policy that isn’t just here for three, four or five years. It would be far more beneficial to have a clear coherent strategy on energy that would help industry and manufacturing, and help with investment.” He also commented on how some members were concerned about a complete loss of supply. He said, “In the previous three years, members have had letters saying that potentially their supply may be turned off. Thankfully, it hasn’t happened, but yes, they are clearly worried that this may happen.” Alison Kinna, the managing director of Outokumpu in Sheffield warns, “We need stable and competitive pricing in order to continue to locate high energy consuming production in the UK. Our competitors are not just in Europe, they are located in China and the US. How does the Government suggest we manage short-term price spikes caused by lack of gas storage? “We have been warned that this winter capacity will be extremely tight. The burden of this will all fall on manufacturing. We run continuous operations – any outages, particularly at short notice, cause massive disruption and we cannot afford to run during price spike periods. You can read the full article on the Yorkshire Post Website....

read more

Companies House Scam Emails

Companies House Scam Emails

Be warned. Companies House have released the following statement: 04/09/13 @11:00PM: We have been made aware that random emails claiming to be from Companies House are being sent. These mails have NOT been generated by Companies House and we strongly advise you not to open any attachments or click any suspicious links within the email, as it may contain a virus. Our customers should be assured that the details we hold have not been compromised. We’ve had a few calls from customers receiving these emails, they have referred to an annual return and asking for a .zip file to be opened. Please do not open this attachment. You can forward the email to companies house at  phishing@companieshouse.gov.uk then you should delete the email. http://www.companieshouse.gov.uk/securityAdvice/index.shtml If you have any queries, please don’t hesitate to call us!...

read more

Nationwide building society delay small business lending.

Last year, Nationwide building society revealed plans to enter the SME loans market. This was great news for the SME who has struggled to get finance as the banks lose their appetite for lending. Unfortunately, after examining their balance sheet, the Prudential Regulation Authority has demanded that the Nationwide bolster their leverage ratio. A spokesman for the Nationwide said, “We have previously said that it is our strategic intention to enter the SME banking market and that we will do this at the right time for the society and our members. That remains our intention.” However they are now unlikely to launch a full SME service before 2016. Read more about it here in the Yorkshire...

read more

Success for the Yorkshire Dales Meat Company

At Courtley West we always love to hear about our fellow Yorkshire businesses doing well. That’s why we’re pleased to hear about the family run business near Bedale winning a new deal to supply 16 new Adsa stores across the Northern England. The company has enjoyed strong sales since the the horse-meat scandal broke in February. The financial director, James Knox was quoted as saying, “We’re obviously over the moon with these recent sales figures and put it down to an increasing trend of consumers looking to buy meat – and, in particular, beef – products from trusted sources since the beginning of the horsemeat scandal. “These tremendous figures also show great confidence in our burgers and steaks, and in the brand that we’ve worked so hard to create. “We pride ourselves on knowing exactly where our meat comes from. If meat doesn’t actually come from our own farm, then you can be sure that it will have been sourced from suppliers that we know and fully trust.“ You can find further information here: http://bdaily.co.uk/entrepreneurship/05-06-2013/yorkshire-dales-meat-company-wins-new-asda-business/   Courtley West | Chartered Certified Accountants | Wakefield | Leeds  ...

read more