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2011 Client Survey Results

Prime Entry Scores 94.86% in their online 2011 Client Satisfaction Survey

Drum Roll...

and the winner  is……

Miss Clare White from Poole in Dorset.  Clare was chosen at random from a large selection of names by Stephanie’s son Corey when he came into the office for a few hours just before Christmas.

Clare came to us as a client recommended by her brother Joseph, a client near Stratford upon Avon.

For taking part Clare wins a huge hamper of wines and cheese and all sorts of other goodies as supplied by our good friend Charlie Turnbull

Thank you to everyone who took the time to complete our survey.  The results show that we actually scored a great 94.86% satisfaction across the board which is fantastic news.  But not wishing to be complacent, our scores where cut because some people feel our communication regarding fixed fees, chasing books and records and generally communicating information to our clients is not worthy of 100% result.

We want 100%, so we are looking very carefully at improving on our communication to our clients.  Writing letters chasing for books and records are all part of our every day business and each of us will work on getting this process, particularly our huge database system which is used to generated a lot of our regular communication to be much more efficient.

New for 2012 will be a regular email news service, with an exciting quarterly downloadable document for all to read packed with some free tips, reminders on important dates and some useful information collected by us here at prime entry.

In the meantime I wish everyone a Happy and Very prosperous year ahead.

Kevin

Tax Tip on Gift Aid

GIFT AID and giving money to charity

If your taxable income is marginally above the £100k mark, any strategy you can employ to reduce earnings will safeguard your personal allowance and save tax at 40%.

If you wish to donate to charity, then you may wish to understand more how the GIFT AID system works, including options to carry back, contact the accounting and tax team at prime entry and they will be happy to explain more.

But as an example: – If you are a 50% tax rate payer a cash payment to a charity of £5,000, grossed up to £6,250, this will save £1,875 in reduced higher rate tax. (£6,250 x (50%-20%))

And let’s not forget the charity?  You may be out of pocket by £3,125 (£5,000 – £1,875) but the charity will receive £5,000 plus the tax refund £1,250.

Improved Bookkeeping Equals an Improved Bank Account

HMRC is extending the new Business Records Checks initiative, following a pilot programme this year.  The taxman claims that research shows that poor business record-keeping usually leads to an under-declaration of tax.  HMRC reckon they can collect an extra £2M every year by focusing on SME’s poor business record-keeping.

In our experience poor bookkeeping leads to a poor bank account… If you need advice with your bookkeeping or know someone struggling, simply call us for a free quotation, you will be surprised that the cost of service can often pay for itself many tines over!

Pay your PAYE on time or you will get a penalty!

Late payments. Two weeks after the end of each tax month employers must pay their PAYE tax and NI. If you pay by bank transfer rather than by cheque, you get an extra 3 days to settle up. But what happens when the due date is on a weekend? In the past not a problem, you just got a little red demand, which you ignored and that was that.

The taxman can now charge a penalty for late payment for PAYE, even if it is due to the banking system and weekends.

So make sure you have updated your diary to ensure you don’t miss the date.

HMRC warns of surge in phishing – not fishing?

Scam emails:  The Taxman’s latest statistics show that a number of reported e-mails from fraudsters alleging to be from HMRC has increased 300%.  The scam artists are presumably achieving some success otherwise they wouldn’t persist. Read the full article »

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