Moore Accountancy Team Expansion

Manchester based Moore Accountancy have taken on new staff members to support their existing small business clients.

AAT Trainee –

AAT Trainee

Aiden Berry

After months of searching and interviewing we have found a new team member – Aiden Berry.

Aiden will be studying for his AAT at Trafford College from September and combining the qualification with his work at Moore Accountancy.

Outside of the office, he spends a lot of time with his family watching football, cricket and occasionally playing. When not working he enjoys going to the gym with his girlfriend.

Over the forthcoming months Aiden will become the primary port of call for our Payroll and VAT clients, as well as assisting Sid and Katie with other client work.

 

Office Administrator – 

Laura Johnson, started as our part time office administrator in May.

Moore Accountancy Accountants Office Administrator

Laura Johnson

She will be supporting Sid and Katie with administration and using her extensive office experience to ensure the back office functions continue to run smoothly allowing the rest of the team to focus on providing a great service to clients.

Outside of work she enjoys spending time with her family, reading, yoga and socialising with friends.

There is also a big birthday coming up in July; so there is lots of fun in planning a party!

Client Self Assessment Checklist – 16/17

All Moore Accountancy clients who require a Self-Assessment Tax Return should download, complete and return the attached Self-Assessment Checklist.

This will enable us to include all sources of income in your tax return and to help you gather the information needed from third parties which you will need to provide to us.

If you are unsure about any of the questions, then don’t hesitate to call us on 07542299247 or email us at info@mooreaccountancy.co.uk.

Self Assessment Tax
Checklist 2016/17

CLIENTS – Click here to download our
2016/17 checklist for completion

Below are also some key Self-Assessment dates for 2016/17 & 2017/18

05 April 2017          – End of the 2016/17 tax year

06 April 2017          – Start of 2017/18 tax year

31 July 2017            – Second payment on account for Self-Assessment. Ensure funds available at this time.

31 December 2017 – Due date to submit Self-Assessment if requesting tax underpayment for 2016/17 to be included in PAYE code if amount under £3,000 and still in employment

31 January 2018    – Deadline for submission of 2016/17 Self-Assessment and payment of any amounts due to HMRC for 2016/17 and first payment of account for 2017/18.

Flat Rate Scheme VAT changes from April 2017

Proposals were made in the Autumn Statement to amend the Flat Rate VAT Scheme (FRS) which have now been finalised by HMRC and will affect our clients who have a very low cost base.

 

The definition of a limited cost trader is a business that spends less than £250 or 2% of its sales on relevant goods (note not services) in a VAT quarter. Goods include stock to sell, ink cartridges and stationery and gas and electricity which is used exclusively for the business.

The following will all be excluded from the relevant goods calculation:

  • Any services – which is anything that isn’t goods
  • Food and drink for employee consumption,
  • capital purchases,
  • vehicle costs including fuel unless you’re in the transport business,
  • using your own, or a leased vehicle
  • rent, internet, phone bills and accountancy fee
  • training and memberships
  • promotional items
  • advertising
  • digital subscriptions
  • expenses like travel and accommodation
  • If clients meet the limited cost trader definition then they must pay over 16.5% of their gross turnover each quarter instead of the 12-14.5% most pay now.

Options for clients include:

  • Deregistering for VAT if turnover is below £81,000
  • Moving to the “actual” method instead of FRS
  • Remaining at FRS but paying over 16.5%

Note that the 1% discount will still apply if you are in your first year of VAT registration.

There is now an online HMRC checker (still in beta as at 1/3/17) which you can use to assist in deciding if you are a low cost trader or not. 

This takes effect from 1/4/17, so please contact us to discuss things further if you think you will be affected.

Apprentice Accountant in Practice – Moore Accountancy are hiring!

Moore Accountancy are hiring!

Apprentice Accountant in Practice

This role is to help with clients accounting but to also help with the general running of the small company. The day-to-day activities will be varied and focus on both the finance administration of the company and working with client records.

 

 

Part of a small team and based within the home office of this Altrincham practice, the Apprentice will be responsible for supporting the Practitioner in a variety of tasks.

Programme Duration: 12 – 18 months

Duties/Areas of Responsibility:

The role includes:

  • Filing duties
  • Basic company secretarial work
  • Bookkeeping
  • Monthly payroll
  • VAT returns for clients
  • Bank reconciliations
  • Computerised accounting (over a number of platforms)
  • Data entry
  • Creating sales invoices in word and Xero
  • Chasing debtors
  • Basic business/office admin tasks (including opening post, scanning, telephone answering)
  • Client assistance (including on-site support if required)
  • Maintaining business database and CRM
  • Setting up new clients and all related internal procedures
  • Reviewing internal systems and updating technical notes
  • Any other related ad hoc tasks may be required

As experience and knowledge improves the role will develop into the preparation of accounts and tax for sole traders and individuals.

Note that we are a small home based office and everyone does their turn of answering phone calls, filing, etc. As such the job will vary weekly but encompass all of the above.

Personal qualities and skills required:

  • Punctual, reliable, honest and hard-working
  • Ability to work closely with other team members but also to work under own initiative at times
  • Smart, personable and polite as client service is essential (communicating with them in person, by telephone and by email)
  • Willing to apply themselves and learn
  • Organised with an ability to work well under pressure, prioritise and take instructions
  • Enthusiastic, friendly and helpful
  • Good understanding of confidentiality
  • In addition to the above, you will need to be a quick learner, have high attention to detail and be proactive with your daily tasks
  • Also, you will need to have a genuine passion to work within an accountancy role
  • Computer literate (good working knowledge of Microsoft Office incl. Word, Excel, Outlook)
  • Basic understanding of double entry bookkeeping, T accounts and trial balance
  • Effective oral and written communication skills

Qualifications required:

  • 5 GCSEs minimum grade C or above including at least a B in Maths and English.
  • AAT Level 2 or a relevant qualification is desirable

Please contact Sid via hello@mooreaccountancy.co.uk if you are interested and we can direct you to the correct external agency monitoring the recruitment.

Moore Accountancy is an equal opportunities employer.

Christmas Entertaining

baubles

At this time of year, we are often asked whether Christmas parties are tax deductible or not?

Unfortunately, as with anything to do with tax the answer is not the same for everyone!

If you are a sole trader or in a partnership then the simple answer is no.

Legally, you are the business and you can’t entertain yourself. You also need to eat to live and whether you eat in a Manchester restaurant or at home, it is your choice – the cost would count as drawings if you tried to put it through the accounts.

If you have any employees then the exemption described below can be used for them, but not for you.

Limited Companies

If you are a director of a limited company, however, you can claim an exemption to cover the cost of an annual function of up to £150 per employee per annum.

This could be split over a summer event and a winter one but they should be annual and the cumulative cost of both must be below £150 for it to be allowable.

Usually a Christmas (or summer) party would be classed as a benefit in kind and would be taxable on the employee (like company cars) but if the following is met there is not issue:

  • Must be annual event
  • All employees must be invited
  • Total cost (Inc. VAT) must not exceed £150 per guest. If it is £152 the whole amount will be chargeable as a benefit in kind

A way around this is to get a contribution from employees on the excess and just claim the £150 per head.

Entertaining clients and subcontractors

You can’t claim tax relief on entertaining anyone who is not an employee or guest of an employee. So any such expenses will be classed as business entertaining and you will not reduce the amount of profit and hence tax that needs to be paid.

Networking at Christmas

This is a grey area regarding whether it is just eating lunch and hence something that would “normally have been done at that time” (i.e. going out with a group of friends), or whether the main purpose and intention is for finding new business connections and having the opportunity to learn about other businesses and potential leads, then they are potentially allowable.

The intention is the key to deciding whether the expense is deductible or not.

Gifts to client

You can make a gift to a client up to £50 in any tax year.

There are some limits to allow it to be tax deductible – if not met it will be classed as entertaining

  • Must be business related (i.e. calendar, pens)
  • Cannot be alcoholic drink, food or tobacco
  • It must clearly show your business name (advertising)

Gifts to staff

All gifts are benefits in kind unless they are “trivial”.

These can be a bottle of wine, box of chocolates or a turkey, but not a case of wine or  hamper for example.

Any Christmas bonuses must go through payroll system as normal.

We did say that it was not straight forward, if you have any questions at all then please do not hesitate to contact us, our office is closed from Friday 20th December, reopening Monday 7th January.

We hope you all have a good Christmas and we look forward to working with you in 2014.

New Year Expansion for Moore Accountancy

20130314-234507.jpgHere at Moore Accountancy, we work with lots of businesses of different sizes and types from one man bands who want to remain as such, to companies with a number of employees.

One of the regular issues we come across is whether or not to take a risk and try to grow, or remain in a “safe zone” with sufficient sales and profit levels to live off. This arises more frequently with the lifestyle businesses that we serve.

This quarter it was us that had to consider the issue.

Did we remain as we were – taking on more clients but then working more hours which compromised the work-life balance we chose to have?
Or should we take the risk of employing someone, of relinquishing some of the control and autonomy we have by being the principal accountant in the practice?

It is a debate we had for a few months.
We recently came to the conclusion that it was better to take the risk, share the workload and provide an even better level of service to our existing and new accountancy and tax clients.

And so, we will start 2013 with a new employee. Someone who shares the Moore Accountancy passion to support, grow and develop start-ups and small business, and does it with a smile……

Welcome Jude Stephens!