We would like to thank Elaine, Natalie, Gareth, and all the team at Business in Focus for their help over the years in our current offices, we will miss you!
Congratulations to our amazing Clients Dockside Bar and Grill, have won Best Bar and Restaurant in Bridgend County 2022 in the Prestige Awards!
Husband and wife team Michael and Julia Jones, opened their beautiful venue in late 2018.
After just a year in the new business, finding their feet and building up a well deserved reputation- Covid hit and their business was forced to close at many different points in the various in/ out/ in out/ shake it all about lockdowns and firebreaks forced on them by the Government.
They remained determined to retain their incredible staff, and did everything in their power to make sure they could re-open and continue to provide their well loved food and atmosphere to everyone that missed them so much during the closures
“It wasn’t easy” – Julia said “It was very difficult with almost 2 years of varying restrictions, but we pushed through and knew we had a strong team and refused to give up no matter what was thrown at us.”
To have come back, better than ever, adding continuing flare to their incredible menu and Special Offer Themed Days -it has come as little surprise that their determination has been recognised and they have won this award.
If you haven’t yet been to visit Julia and Michael and their fantastic team in their stylish, retro vibe, friendly restaurant, what are you waiting for? You won’t be disappointed. p.s. We can personally recommend trying their cocktails too (…Hicccup..)
As we enter the new tax year 22/23, we thought we’d highlight some key updates
National Insurance increases
Employees Class 1 rises to 13.25%
Employers NI rises to 15.05%
Self Employed Class 2 NI rises to £3.15/ week
Self Employed Class 4 rises to 10.25%
Vat rises from the reduced rate for hospitality of 12.5% to 20%
Minimum wage increases all the new rates can be found here
Dividend tax increases to 8.75% (lower band) and 33.75 (higher band)
If you would like any further information or are concerned about how these changes affect you and your business, please get in touch and we will do our utmost to assist you to navigate through it all
In case
coronavirus (COVID-19) spreads more widely in our area, here at Paymaster HQ we
are keeping track of, and following, the latest advice for your staff members…
we hope this helps.
Sick pay… Your usual sick leave and pay entitlements will apply if you have coronavirus, and you should let your employer know ASAP if you’re not able to attend work.
Self-isolation… The government’s advice so far states that if NHS 111 or a doctor advises an employee or worker to self-isolate, they should receive Statutory Sick
Pay due to them. If your company offers contractual sick pay, it would be good practice for them to pay this. You must inform your designated line manager ASAP if you’re not able to work. You should tell your manager the reason and how long you’re likely to be off for. Should self-isolation become an issue you need to deal with, there is all the information you need here, via Public Health Matters: https://publichealthmatters.blog.gov.uk/2020/02/20/what-is-self-isolation-and-why-is-it-important/
Dependents… You are entitled to time off work to help someone who depends on you in an unexpected event or emergency. This applies to situations surrounding the coronavirus, eg. looking after children or at-risk family member, aging or sick parents. There’s no statutory right to pay for this time off, but some employers may offer pay depending on the contract or workplace policy, and there’s always the option of using your holiday days.
Afraid… We understand if you’re afraid – some people might feel they do not want to go to work if they’re afraid of catching coronavirus – or indeed spreading it to high-risk family members and friends… Your employer should listen to any concerns you have, and must try to resolve them to protect your health and safety above all. For example, if possible, they could offer flexible working, if that’s at all possible. If you still really do not want to go in, you may be able to arrange with your line manager to take the time off as holiday or unpaid leave. However, bear in mind that your employer does not have to agree to this. If any employee refuses to attend work, it could result in disciplinary action. Whatever happens, make sure to follow the hygiene steps, and most importantly, please stay safe – from Nicola and the team.
In case coronavirus spreads more widely in the
Bridgend and wider South Wales areas, here at CC Associates HQ we are keeping
track of, and following, the latest advice.
We thought it may help some of you if we shared some
simple steps, so you can help protect the health and safety of your staff too…
We’re making to sure to follow the good
practice guidelines recommended, such as keeping staff updated on actions being
taken to reduce risks of exposure; making sure everyone’s contact numbers and emergency
contact details are up to date.
Office managers will need to know how to spot symptoms of coronavirus and are clear on any relevant processes: eg. making sure there are clean places to wash hands with hot water and soap, and encourage everyone to wash their hands regularly; providing hand sanitiser and tissues for staff, and encourage them to use them; considering if protective face masks might help for people working in vulnerable situations, and additionally considering if any travel planned to affected areas is essential.
Employees unwell at the office? If this should occur, the affected staff member should get at least 2 metres (7 feet) away from other people; go to a room or area behind a closed door, such as a sick bay or staff office; avoid touching anything; cough or sneeze into a tissue and put it in a bin, or if they do not have tissues, cough and sneeze into the crook of their elbow, and use a separate bathroom from others, if possible.
“As for you, be strong and do not give up, for your work will be rewarded”
2 Chronicles 15:17
We did it!
We are pleased to report that Team CC Associates have all survived the craziness of January!
We want to thank each and every one of our clients for trusting us with their work, and helping us get through January (…especially those who brought us chocolates, tissues – and gin! – when times got tough and we all wanted to leave and just work in Tesco instead!)
Some things we’ve noticed that will help us help you out – and help reduce fees to the client…
Open your envelopes and bills!
You would be amazed how many people don’t even do this. Think of mine and Tara’s nails, please!
Tara loves her job, but sitting on the floor surrounded by paper is probably against some kind of health and safety practice!
Unfold your receipts…
We cry inside every time records come in with fuel receipts folded into tiny pieces – and then each and every one has to be unfolded, which takes time. We love millions of receipts and piece of paper, but Origami is definitely not our forté!
Remove non work-related expenses…
Tim loves a good curry, and is a rather amazing curry chef himself (see pic, looks good eh?) – but he really doesn’t need to see what you and your friends ate for dinner at the local Indian restaurant!
Likewise, we don’t need your receipts for the lovely shorts and trainers you bought in the sports shop.
Sadly, this is not tax deductible, even though Richard thinks it should be, and is probably campaigning behind the scenes to make it be in the future.
He may love football and cricket, but we just don’t think he is going to change the taxman’s mind, sadly..!
In other news…
As you may know, the filing deadline for reporting income between 6th April and 5th April every year for Self Assessment Tax returns is 31/01 every year.
Tim has a saying in our office: “Some people think it’s a target, not a deadline!”
What this means is that people can file as early as April 7th every year, but some leave it to the following January to actually do it.
This comes with its own issues, not just for us. Facing huge amounts of processing and tax work (and black bags of random pieces of paper..) being brought to us unceasingly during January, but for Clients as well.
Let’s take an example of one of our clients, who brought us a stack of information to process on 22nd of January.
By the time we go through everything and produce a tax return, it is only at that point that the Client then finds out how much tax they owe.That tax is then due to be PAID by 31st January.
This comes as a shock, and usually the client has no idea until right before the payment deadline how much they need to pay.
There is a worse shock to come if they can’t pay it all, HMRC can then add the further penalties:
5% of tax unpaid after 30 days, another 5% of tax unpaid after 6 months, another 5% of tax unpaid after 12 months…!
So, what is the solution to all of this? How can people ease the burden of leaving things right to the wire and expecting and hoping all will be well?
Here are some handy basic tips (Not involving any maths at all!)
• Keep all your records of income and expenses in monthly order
• Every month, go through these pieces of paper and put them into categories (Fuel, Purchases, and Repairs etc. etc.)
• Work out how much money you have taken (Sales) – and how much money you have spent
You will now have a very basic idea of your “Profit” – which is what is subject to tax (at 20% or 40%, depending on your level of profit)
If you do this every month, and then get your paperwork in as soon as possible after April 6th, you will then know, in plenty of time, how much tax will be due in 9 months time – the following January.
If you are feeling a bit computer-savvy, and can input even the most very basics of information, take a look at our special software here, and let us know if you would like to use this. https://www.diamondwebapps.com/ccassociates/signup.pl
Some people think if they get us to calculate their tax returns just after 6th April, they have to pay the tax then. That is incorrect, the tax is still not due until 9 months later. So it is a no brainer to not do it as soon as possible after 6th April, every year.
We look forward to seeing you all on April 7th, lined up in an orderly queue at our door with your beautiful records, ready to start your next years returns!
Have you spotted the latest Tweets and FB posts from HMRC?
‘Submit online by the 31st January’, they say!
‘Why not do your Self Assessment online today?’, they say!
And if you can manage to trawl through the rest of the endless bumf, it makes the whole process sound as simple as doing your weekly grocery shop online with Tesco or picking up a bargain online at Ebay. https://www.gov.uk/self-assessment-tax-returns. In reality though this is simply not the case.
Sure, If you have already ‘Received your Unique Taxpayer Reference (UTR), enrolled for the online service and activated your account using the code you received in the post.’ And of course you have all your receipts, invoices etc. prepared and you’re fully aware of your allowable expenses, capital investments, blah, blah, blah… jump right in and get it done!
Haven’t got these in place hmm? Then may I suggest you might want to hire the services of your local accountant, – us here at CC Associates. It will save you more money and time than you can possibly imagine.
To start with, if you haven’t registered for your online account this can take the average individual up to 10 days to complete. CC Associates are registered HMRC agents and can submit your tax return on your behalf without any of the hassle.
Even if you are uber organised and have all your receipts and invoices filed nicely in month, week, and day order are you 100% sure of what can be claimed for in accordance with the law? You could be losing ££££’s. CC Associates Accountants are members of IPCA (Institute of Certified Practicing Accountants) with Nicola Thomas having recently been awarded Fellowship of IPCA. Their knowledge is 100% current, lawful and immense.
Most importantly, as the old cliché goes ‘Are you running your business or is your business running you?’
Call CC Associates now to take the strain of the dreaded tax return, but don’t leave it too late, only a few New Client appointments remain for January 2020.
Christmas is almost here again and our emails are ding a linging and our phones are ringing with clients asking us about tax allowances for their works Christmas party.
HMRC also gets into the festive mood and (if you work within the rules) you can have a tax-free works Christmas party.
The rules apply to a works Christmas party or similar function, providing you give all staff the opportunity to attend. You can spend a total cost per head of £150 (or less) and this applies to everything provided at the party, so be very careful especially if you are also providing transport.
The tax-free limit applies for the whole tax year, so if you held a summer event and a works Christmas party, they would qualify as long as the total cost for both is £150 or less per head of persons attending. This means you can bring partners and spouses and they get £150 allowance as well, yes that’s £300 per couple.
Be careful and keep control of costs, the sum of £150 applies to the total cost per head. It is an exemption not an allowance -if you exceed the £150 limit every penny becomes taxable. Also, the amount becomes taxable on the workers and they will become liable for extra national insurance contributions as well.
If you want to give gifts to employees you should be aware that these are taxable.
Cash presents, such as Christmas bonuses or vouchers redeemable for cash, also have to have tax and National Insurance contributions paid through your PAYE system. The alternative for employers who want to give, but without a tax charge attached, is to set up a PAYE Settlement Agreement with their tax office.
Gifts to your customers are not an allowable business expense and will be treated in the same way as business entertainment.
So go and enjoy the festive season with a works Christmas party. Stick within the rules and let the taxman help with the expense.
If you need more information on what is and what isn’t allowable, at Christmas or any other time of the year, or if you want us to help you to apply for a PAYE settlement agreement give us a call today for a free, non obligation informal chat.
Nothing helps a local business like being recommended and given a great review and this short guide will show you how you can do this for us on Google and Facebook.
To write a review on Google you will need to go to our page on Google Maps here.
Click on our name then scroll down until you find the review summary where you will find the link to write a review. Go ahead and give it a try here and please don’t forget to give us some stars!
To recommend us on Facebook go to our business page here and click on or scroll down to Reviews.
If you haven’t already you will be given the option to recommend. Go ahead and try it here.
You may find us at other places on the Web too and we’d love it if you could spare a couple of moments to review us wherever you see us and don’t forget those stars!
Thank you for helping local businesses survive and thrive.
We are the fur babies of Romania known as the garbage dogs and we’ve kidnapped Nicola Thomas of CC Associates and unless you pay the ransom she won’t be back to do your accounts. SO PAY UP NOW! Seriously though, she’s come all this way to visit us and we’ve kidnapped her heart.
So friendly and loving
Nicola is currently spending a week in Romania volunteering with the very worthwhile cause https://m.facebook.com/MihaelasAngels/ who are tirelessly fighting to save the lives of these gorgeous animals, some of whom have been lucky enough to be rescued to the UK and elsewhere. Only a few can be shipped out at any one time, so many more dogs are left behind, being protected in run down, make do shelters, still awaiting their forever homes if they’ll be fortunate to survive long enough.
A small donation from you can make such a huge difference to the well being and safety of these dogs. While they are on the streets they are in constant danger. Your money pays for the food and shelter needed to keep them safe.
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