Connecting - David Allen · 2020. 4. 23. · upcoming 2013/2014 tax year the limits are £11,520 and £5,760 respectively. For more information and to ensure you have a happy new

Another new tax year...Louise Thomson

The world of payroll - what’s happening?Jill Hetherington

Meet Workington’s Sta� Member Sophie Waugh

Accountancy • Tax • Business Services

Spring 2013

West CumbriaConnecting

90152_west cumbria newsletter.indd 1 12/03/2013 14:23

www.david-allen.co.uk

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Editorial

Welcome to our Spring 2013 newsletter.

Spring o�en represents a fresh start, renewal and growth, a�er a cold and miserable winter, many of us are more than ready to see the first shoots of Spring flowers. At David Allen we already prepared for the new tax year having digested the recent Spring budget announcements. We share these with you by enclosing our budget summary along with a breakdown of the new rates for the 2013/2014 tax year.

Our tax specialists o�er advice over pages 4 to 7 to help individuals and businesses alike. Whether you need to discuss changes to your personal allowance, changes to the Tax Credit system, changes to the Annual Investment Allowance or any confusion surrounding year end reporting on employee benefits our team of experts are here to o�er their support and help.

Clearly with constant HM Revenue & Customs changes you need to keep one step ahead. Payroll RTI changes are taking e�ect from

the start of the new tax year and require payroll information to be reported each time your employee is paid. Implementation of the auto-enrolment pension, which requires employers to operate and contribute into a pension for their employee, will create a further strain on cash flow but may also o�er some important tax saving opportunities. Our payroll team and independent financial advisors are on hand to help you through these changes. Steve Balmer, featured with me on the front cover, is part of the David Allen Wealth Management team and based in the Workington o�ce. If you want to get in touch with Steve please call 01900 878 000.

Featured on our professional profile pages is the Esh Group who are one of the leading construction companies in the North of England and will soon complete the £5.5m Construction Skills Centre at Lakes College West Cumbria. No company demonstrates more successfully the importance of corporate responsibility and I would like to personally thank Bill McCa�erty and Darush Dodds of Esh Group for allowing us to be part of such a worthwhile project.

It also gives me great pleasure to introduce two of our new clients to you on pages 14 and 15. West Lakeland Medical Group have been trading as medical professionals delivering non-surgical procedures for a number of years but were looking for growth and development. Dale Lodge Hotel in Grasmere were also looking for new direction during the recession. Both of these businesses recognised that David Allen would o�er a fresh approach, a no nonsense vision for the future and we are proud to feature both businesses in our client profile section.

Being able to o�er such a wide range of services, breadth of knowledge and expertise in many sectors comes from the strength in our people. Alison continues this theme on page 3 and to give more insight into the Workington o�ce I have interviewed Sophie Waugh, one of our youngest team members, for the sta� profile. Sophie is a shining star and highlights that if you have the talent and determination you can achieve your goals.

If you would like to speak to me, please give me a call on 01900 878 000 or email [email protected]

Jane ClinganBusiness [email protected]



Strength in our people

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This is the second edition of our West Cumbria newsletter and I would firstly like to say well done to Jane Clingan for her hard work since joining the David Allen team, she has had some great success stories since our last edition. Jane has been involved in a number of di�erent projects in West Cumbria, one of these attending Whitehaven school to deliver a ‘money skills’ presentation to 150 year 10 students. Jane had been invited to do this by Esh Group who feature later in this publication. This is a great project for Jane to be involved in but also fantastic that pupils at Whitehaven school are finding out more about our firm as some of them could be future employees of David Allen. We are committed to investing in our people and providing training in all of our o�ces. Sarah Farquhar has successfully completed her ACA exams since joining David Allen in August 2006 and now is a Chartered

Accountant specialising in limited company accounts and audits. Sophie Waugh who is featured on our sta� profile page is in the final year of her AAT studies and will soon be a qualified Accounting Technician. These are great achievements for both Sarah and Sophie, they are a real asset to our Workington team. Our Workington o�ce has a number of key members of sta� with specialist fields but we are always looking to expand and develop our team to go above and beyond and exceed all expectations that our clients have. We need the right people in our team who are not only committed to their day to day work requirements but also dedicated to their studies. If you feel that you would like to join our Workington team, please forward your details to Jane at [email protected] Moving on slightly, David Allen Wealth Management continue to build upon the service provided to our clients and the smooth adoption of the significant new legislation introduced in January highlights

the value of the investment in sta� and technology over the past months. Pensions auto-enrolment is a hot topic at the moment and our wealth management team have been involved in a number of seminars to make sure our clients are fully aware of their responsibilities. Also, following her introduction in the last issue, Joanna Seminara is settling into David Allen Recovery Solutions and with her 10 years of experience in this area she is keen to work with businesses helping them to recover debts owed to them. If you need assistance in recovering debts due to you then give Joanna a call on 01228 713 070. We are always looking to develop and strengthen our team and are committed to providing training at all levels. We invest in our people to build a strong team with the skills and knowledge to work closely with you and your business.

Alison WeltonBusiness Development Partner

[email protected]


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Another new tax year...

Louise ThomsonTax [email protected]

With recent announcements on Wednesday 20 March 2013 see how the Budget a�ects you and your business. Refer to our Budget summary and 2013/2014 tax cards or alternatively contact one of our tax experts on 01228 711 888.

The end of the current 2012/2013 tax year is nearly upon us, but there is still time to make use of certain allowances before 5 April 2013 and plan ahead for the next tax year.

Your personal allowance is the amount of income which you can receive in a tax year before you start to pay tax. For 2012/2013 the basic amount is £8,105 and for the 2013/2014 tax year it is £9,440, although these may vary if you are over 65 years of age or if your overall annual income is more than £100,000.

For married couples, one of the easiest ways to save tax is to ensure that you are both utilising your tax-free personal allowance in full. Transferring assets from husband to wife or vice versa is tax free, and may result in large tax savings, especially where one is paying tax at a higher rate than the other.

You may also wish to consider gi�ing income-producing assets to your children, which is e�ective for tax if the asset gi�ed produces income of less than £100 per year, your children are under 18 years old and their income does not exceed this tax free personal allowance.

If you have been paying tax at higher rates, it is also possible to reduce your tax liabilities going forward by making personal pension contributions or gi� aid donations (donations to charity). Both of these extend the level of income which you can earn before paying higher rates of tax. In order to reduce a tax liability for the 2012/2013 tax year, payments must be made before 5 April 2013.

All adults can also invest in an ISA and income on these investments is tax free. For 2012/2013 the maximum which can be invested is £11,280 (of which £5,640 can be in cash) and for the upcoming 2013/2014 tax year the limits are £11,520 and £5,760 respectively.

For more information and to ensure you have a happy new tax year contact Louise Thomson on 01228 711 888 or [email protected]


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100% tax relief

If you are in business you can claim tax allowances, also known as capital allowances, on most purchases of business assets. This applies whether you are self-employed and pay income tax or are a company that is liable to corporation tax.

The most generous capital allowance is the Annual Investment Allowance (AIA). This allowance is available on most items of Plant and Machinery and allows a tax payer to deduct the whole of the cost of the asset from the profits made for the year (subject to the overall limit).

The AIA limit prior to 31 December 2012 was £25,000. The Chancellor surprised everyone at the end of 2012 by announcing a huge but temporary increase to the AIA up to £250,000 from 1 January 2013.

The announcement was a welcome development for businesses; however care does need to be taken as it has brought about some complex transitional rules and calculations where your normal accounting year end is not 31 December or your accounting period is shorter or longer than 12 months.

For example, if your accounting year end is 31 March the maximum amount of AIA relief which would be available to your business in the year ended 31 March 2013 is £81,250 and of this, only £25,000 would be available in the nine month period to 31 December 2012.

Any expenditure on business assets in excess of the current AIA limit will qualify for a writing down allowance at 18% or 8% per year, so full relief will eventually be given for expenditure incurred.

If you are thinking of purchasing a new asset for your business and would like some guidance on what tax relief is available and when is the best time to make your purchase, contact Sarah Seavor on 01228 711 888 or [email protected]

Sarah SeavorTax Specialist

[email protected]

“The most generous capital

allowance is the Annual Investment

Allowance (AIA)”


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Are you entitled to tax credits?


Lucy MetcalfTax [email protected]

Tax credits are payments from the government. There are two types which can be claimed; child tax credit if you are responsible for at least one child and working tax credit which applies if you work, but are on low income.

The amount of tax credit you can claim depends on varying factors such as the level of your household income, the number of children that live with you, how many hours you work and if you pay for childcare.

If you currently have a claim in place, it needs to be renewed every year. To do this the Tax Credit O�ce will write to you in the weeks following 5 April 2013 to ask for confirmation of your circumstances and details of your earnings for the 2012/2013 tax year. The deadline for renewing your tax credit claim is 31 July 2013 and we can help you with this.

Legislation is always changing and the tax credits system will shortly start to be phased out. It is being replaced by universal credit which, depending on the tax payer’s circumstances, might be less beneficial than the current tax credit system. Any tax credit claims in place prior to 5 April 2014 will be redirected onto the universal credit system by 2017.

If you are not currently claiming tax credits and think that you may be entitled, you still have a couple of weeks to get a claim submitted, otherwise you will receive the new universal credit instead.

We will be covering the new universal credit in more detail in our next newsletter, but if in the meantime you want to discuss your current claim, or need assistance with a new claim please contact Lucy Metcalf on 01228 711 888 or [email protected]


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Are you confused by end of year reporting requirements for employee benefits?

Danny RoperCorporation Tax Specialist

[email protected]

As an employer you may provide your employees with a wide range of benefits or assets which they can use personally and upon which a tax charge may arise on the employee.

Once a year you are required to inform HM Revenue & Customs (HMRC) of the taxable benefits that an employee has received and the 6 July 2013 deadline for reporting the benefits for the year ended 5 April 2013 is fast approaching.

Which forms do I need to submit?

If you have provided taxable benefits to your employees you are required to submit a form P11D for each employee and a form P11D(b) to declare any arising Class 1A National Insurance Contributions that are due on the expenses and benefits provided.

Employees who receive expense payments or a benefit such as a company car may be subject to personal tax on these benefits, meaning that it is very important that employers complete the end of year forms correctly and provide them to employees in a timely manner.

What if the forms are submitted late?

If a P11D(b) is submitted late there is a penalty of £100 for each month of lateness for every 50 employees that an employer has.

If a form P11D is submitted late the potential penalties are much higher, with the maximum initial penalty being £300 and the possibility of further daily penalties of up to £60 per day.

Should you apply for a dispensation?

If you are providing employees with travel and subsistence or other expense payments it may be possible to agree a dispensation with HMRC confirming that these payments

have been made wholly, exclusively and necessarily for the purposes of their employment.

Applying for a dispensation, which if granted means that the payment is not taxable on the employee, results in there being no requirement for a form P11D to be completed if an employee is not in receipt of any other taxable benefits or expense payments.

Keeping up with HMRC’s requirements when it comes to benefits and expense payments, and knowing which benefits are taxable on employees, can be a

daunting task.

If you are considering providing any benefits to your employees, or require any assistance with the end of year reporting requirements, please do not hesitate to contact Ricky Taylor or Danny Roper on 01228 711 888.


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Are your pension contributions being made in the most e�cient way?

Derek BatyManaging [email protected]

www.davidallen-ifa.co.uk

Do you pay too much tax?

That might seem a silly question to ask as I’m sure most of us feel we do pay too much tax. At David Allen Wealth Management financial planners can provide advice on how you may be able to reduce your tax bill by making pension contributions.

Retirement planning is in the news at the moment with the new auto-enrolment legislation, and how it will impact on employers and employees, currently receiving a lot of media attention. (We will cover this legislation in more detail in a future publication). However, saving for your retirement is an e�ective way of reducing your tax burden as there are a number of tax advantages available when contributing into an approved pension plan.

If you make personal contributions to an approved pension plan you will receive income tax relief at your highest marginal rate. This means that as a basic rate tax payer, if you contribute £100 to your pension the government

will add to the pot a further £25 in tax relief turning each £100 contribution into £125. For a higher rate tax payer not only is the £100 turned into £125 but you can claim additional tax relief via the self assessment tax system and receive a £25 reduction in your tax bill if you pay tax at 40%.

Making pension contributions can also help to maintain other benefits such as child benefit and tax credits. From January this year families where one partner earns between £50,000 and £60,000 per year will have their entitlement to child benefit reduced and removed altogether for those earning over £60,000. Making a pension contribution e�ectively reduces a person’s taxable income. Therefore, for example, if someone earning £55,000 makes a pension contribution of £5,000, their taxable income will, a�er tax relief has been added, be reduced to below £50,000 therefore preserving their entitlement to child benefit.

For those operating a limited company, making an employer’s contribution to an employee’s

pension plan can help to reduce taxable profits as the contributions are an allowable business expense. So not only will such contributions reduce your company’s corporation tax liability but will also benefit your employees.

A further advantage of pensions is that the pension fund is allowed to grow in a tax advantaged environment where there is no capital gains tax due on any gains that arise and the fund can be sheltered from inheritance tax and passed in full to your estate should, in the worst case, the plan owner die before retirement.

Pensions have had their fair share of bad press over recent years but the tax advantages alone mean that everyone should consider an approved pension plan as part of their retirement planning.

At David Allen Wealth Management we provide independent advice to make sure your retirement planning is right for you.For more details contact Derek Baty on 01228 711 881.

www.davidallen-ifa.co.uk Company Number 4030020. Registered in England & Wales. David Allen Wealth Management Limited is an appointed

representative of Network Direct Limited which is authorised & regulated by the Financial Services Authority


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Who will benefit from your pension on death?

Careful Estate Planning can significantly help to protect your investments and pension from Inheritance Tax (IHT) on your death and beyond. Talking and preparing for your death can be di�cult, but some planning can give you peace of mind that your money is not being lost to tax and it is being passed to those beneficiaries whom you chose to provide for a�er your death.

What is a Spousal Bypass Trust (SBT)?

Normally death benefits from a pension scheme are paid to your spouse orother dependants. A Spousal Bypass Trust is set up alongside your pension scheme. You can then request that any death benefits payable from your pension scheme are paid to the Spousal Bypass Trust instead which can help reduce liability to IHT.

When would you use the Spousal Bypass Trust?

On your death your estate may be subject to IHT if the value of the estate is over the IHTthreshold, currently £325,000. When pension death benefits are paid out they are normally free of IHT as they are paid at the discretion of the pension scheme trustees to a spouse or civil partner.

However, if the death benefits are paid to the spouse it could create or worsen an IHT problem if the value of their assets is already close to or over the IHT threshold. You can set up a Spousal Bypass Trust and nominate the trust as the beneficiary to receive death benefits from the pension scheme.

If the death benefits are paid to the trust, the money held in the trust does not form part of your surviving spouse’s estate, so will not be included when calculating their IHT liability.

Why would you want to use the Spousal Bypass Trust?

A Spousal Bypass Trust allows you to protect your pension death benefitsfrom being liable to IHT on the death of your surviving spouse. This trust can be used with your existing pension plan or also on any new pension you may be arranging, and can provide a useful estate planning tool.

At David Allen Wealth Management we can review your existing arrangements to ensure that any tax liability is kept to a minimum and if a Spousal Bypass Trust would be suitable for your circumstances.

Contact Steve Balmer on 01228 711 881 for a no obligation discussion or to arrange a meeting.

www.davidallen-ifa.co.uk Company Number 4030020. Registered in England & Wales. David Allen Wealth Management Limited is an appointed

representative of Network Direct Limited which is authorised & regulated by the Financial Services Authority

Steve Balmer Independent Financial Consultant

[email protected]

Spousal Bypass Trust


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Professional ProfileInsight into Esh Group


Esh Group, one of the leading construction companies in the North of England, we have roots that stretch back over 40 years and we directly employ over 1,000 people and has a turnover of over £170m. We care about the communities in which we work and, through our many Esh Added Value initiatives, we invest significantly to help sustain them.

We work in true partnership with our clients in an open, honest, flexible and collaborative manner. The range of work that we undertake is extensive and we support our clients by delivering a diverse range of construction projects and related services. We also receive support from suppliers, subcontractors and consultants that are based as close to the areas where we deliver our services (see below).

Our people are our strength

We are particularly proud of our rich tradition of ‘growing our own’. Many of our senior executives first joined us as trainees and apprentices. At Esh Group, we continue to work hard to train and employ young people, both in the communities in which we work and throughout our businesses.


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Cumbria Operations

We established the Esh Group Cumbria base in Kendal over 3 years ago. From here, we have delivered a range of projects across the County for a new range of clients and some clients with whom we have worked elsewhere in the North of England.

Our clients in Cumbria include Cumbria County Council, Derwent & Solway Housing, Two Castles Housing Association, Anchor Housing, Ford Park Community Trust, South Lakeland District Council, Langdale Leisure, Lakes College and South Lakes Housing.

We are currently nearing the completion of the £5.5m Construction Skills Centre at Lakes College West Cumbria. We are delivering this Design & Build Project with our team of Cockermouth Architects, Day Cummins; Kendal based Civil and Structural Engineers, Curtins Consulting; and Mechanical & Electrical Engineers, Pettit Singleton of Preston.

Esh Added Value

At Esh we believe in ‘Adding Value’ to commercial operations above and beyond contract requirements. Our motto is ‘leading the way in constructing communities’. The people who live in communities are as important as the homes they live in, the infrastructure which serves them and the places where they work and learn.

Added Value is fuelled and driven by our clients, our direct work force and our supply chain partners. In 2012, we successfully delivered over 1,500 community engagement hours and we are striving to double that success by 2014, in part, due to the formation of new partnerships in Cumbria.

2012/13 Academic Year

Esh Group’s flagship employability skills programme, Esh Employability, is currently being delivered through two partnerships: one with Lakes College and the other with Whitehaven School, through which we are engaging with over 750 students.

By the end of the year, students will have participated in a series of employability skills workshops delivered by sta� from a range of businesses including David Allen, Sellafield, Barclays, Tarmac and Esh Group.

We are also very proud to be the main sponsor of Kendal United Junior Football Club and Lakes College West Cumbria Football Team.

For more information contact:

Business Development: Bill McCa�ertybill.mcca�[email protected]

Students participating in the Esh employability

“We have a healthy pipeline of work in Cumbria for

2013 and we are currently working on a range of

opportunities that will sustain our long term presence

and the continued growth of our business in Cumbria.”

Business Development: Bill McCa�erty

www.eshgroup.co.uk


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The right type of finance for your business


Sarah FarquharCorporate & Audit [email protected]

In the tough current economic climate, obtaining finance can be quite a struggle. Some of the more traditional providers that businesses would usually approach first are not so willing to lend, the lending criteria is becoming more and more strict!Possible sources of finance are summarised below along with the potential Pro’s and Con’s:

Bank financingOverdra�s and bank loans are the most common sources of finance for a business.

Asset financingAlternatively, if your business has assets it is possible to raise finance against these. Where plant and machinery has a reasonable value, it may be possible to refinance these assets. The borrowing would in e�ect be secured against the individual assets.

Also, if your business has property it may be possible to raise funds by taking out a commercial mortgage on this property with the mortgage being secured on the property.

Advantages Disadvantages

Bank loan finance

Repayments are structured and the cash flow implications can be planned for.

The terms can be tailored to suit the needs of your business.

There is tax relief on the interest element of the repayment.

Banks can be reluctant to lend money to new businesses with no financial track record.

Loans are less flexible than overdra�s. There can be charges for early repayment.

The set repayment schedule may cause cash flow problems if you have seasonal income.

Personal security may need to be provided.

Overdra¨s

Only borrow what you need when you need it.

Repay the borrowed amount when your cash flow permits.

Overdra�s are quicker to arrange than a loan.

They are repayable on demand.

Penalties may be imposed if overdra� limit is exceeded.

Security may still to be required.


Asset financing

Can release cash held up in assets.

Personal guarantees and other forms of additional security are rarely required.

There can be charges for early repayment.

The set repayment schedule may cause cash flow problems if you have seasonal income.

You will be restricted when selling the asset in the future if the financing has not been settled.


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Debt financing

Potential lending of up to 80% of the sales order book.

Attractive to growing companies as monies that can be drawn down track sales invoices raised.

Helps with cash flow when having problems collecting debts.

Personal guarantees and other forms of additional security are rarely required.

Some industry sectors can attract a significant risk premium.

Factoring charges are incurred based on a percentage of the sales order book.

Putting factoring facilities in place can be di�cult dependant on the industry that you are in.

Commitments can be long term.

Debt financingIt is also possible to raise money against unpaid sales invoices. This is known as debt factoring or invoice discounting. It can be useful for growing businesses if customers are paying up to 90 days a�er the invoice date but you have suppliers to pay within 30 day payment terms.

It may be that these are not finance options that are suitable for you and your business as the charges and interest may simply be too high. It may be that other avenues need considered and these could be in the form of:

Grant fundingFor certain business sectors it may be possible to receive grant funding. These are usually for specific projects and may only be available to certain business sectors. If you are looking to expand and possibly employing a new member of sta�, or you are changing your machinery so it is better for the environment, there may be a grant available to help.

Enterprise AnswersEnterprise Answers are a Community Development Finance Institution (CDFI) based in Cumbria. They are a not for profit organisation who help new businesses, with financing and can help business with loans of up to £100,000. They also o�er other financing advice. Enterprise Answers may be willing to o�er financing to a project which a bank might not be able to do.

How to help gain financePotential investors or finance providers like to know that the people who are running the business they are investing in have control of the finances. A good

way of demonstrating this is by having good detailed business plans and cash flow forecasts so the investors can see where you want to take your business in the next year or longer.

If you would like to discuss possible sources of finance to suit your needs, please contact Sarah Farquhar on 01900 878 000.

• When the Bank of England reduced its base rate to 0.5% in March 2009 this was the lowest rate it has ever been since the Central bank was founded in 1694. The highest it has ever been was 17% in November 1979.

• The largest bank note in England is the one hundred million pound note, nicknamed a Titan. It is only used internally at the Bank of England, and there are only 40 in existence.

• The first paper banknote ever recorded was in China in 1024 AD.

• 830 million bank notes, worth £11.4 billion, were taken out of circulation and destroyed last year because they had become so poor quality.

• The largest cheque every written was from the American ambassador to the Indian government for $1,279,187,490.


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Client ProfileDale Lodge Hotel

Dale Lodge Hotel and Tweedies Bar were taken over by the Roberts family in May 2004.

Much work has been undertaken since then to build a reputation of quality service and excellent food. The hotel itself has undergone dramatic changes to transform the Georgian building from old fashioned and run down to a modern, stylish and very welcoming Country House Hotel. Brian and Gill run a customer orientated business with a strong focus on building relationships with their guests as they become regular visitors. The excellent service, attention to detail, passion and enthusiasm is what keeps people coming back time and again.

James, the eldest son and the head chef, started work in London at just 16, before going on to work in France, Spain and Australia. The experience and skills he gained there became invaluable and these influences can be seen in his work

today. His kitchen serves both Tweedies Bar and the Lodge Restaurant and the food is a fusion of traditional pub fare and contemporary European cuisine with a strong emphasis on locally sourced, seasonal produce.

Tweedies Bar is run by the younger of the two brothers, Alex. His passion and love of real ales and good quality brewers has put Tweedies Bar on the map for all ale lovers. The stone flagged floor and wood burning stove remind you that this is a country pub, but o�ering so much more. With a carefully selected and extensive wine list there is something for even the most refined palate.

Dale Lodge Hotel, Grasmere

As well as running a successful hotel, kitchen and pub the family decided in 2006 to host a beer festival. This started with 26 ales and 3 musicians and has become so popular it is now one of the most heavily anticipated dates in the local calendar. The 2012 beer festival served over 50 real ales and ciders with live music all weekend and o�ered camping facilities for guests a�er the hotel became fully booked. This year’s festival is already being planned and it will be bigger and better than ever before.

To contact Dale Lodge Hotel call 015394 35300 or email [email protected]

Tweedies Bar

Bedroom



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Client ProfileWest Lakeland Medical Group

West Lakeland Medical Group is a qualified team of experts based in West Cumbria who deliver to their customers individually designed anti-ageing programmes. With over 30 years’ experience working in the medical profession you know you are in safe hands for an e�ective and relaxing non-cosmetic surgical treatment.

The team of four, Bev, Christine, Phil and Sam, o�er a wide range of services including botox, teeth whitening, wrinkle relaxing injections, sports injury assessment and treatment and provide informative presentations

and demonstrations. Bev and Christine have long careers as midwives, and still work on a part-time basis, and Phil is a Doctor.

The group was set up six years ago and has recently opened Workington’s first non-surgical cosmetic centre on Vulcan’s Lane. From the very beginning it was their mission to have their own premises as this would allow their clients a more comfortable and private environment with a wider range of services.

The group have had to take baby steps to get where they are today and they knew it was time to seek out an accountant who would o�er real value through its commitment to gaining an in-depth understanding of their

business and the challenges ahead. On their first meeting at David Allen, Jane recalls “When I first met Bev and Christine I was really excited, they o�er something unique and I knew I could o�er some practical solutions and guidance. I believe in what they do and want to help them succeed. There is a growing trend and popularity for the treatments they o�er, to both men and women, but more than that I could see we had real synergy because, like us, they believe in the individual.”

David Allen is proud to be associated with West Lakeland Medical Group.

For more information contact us on 07936 445 639 or [email protected]

Sam Crosby, Christine McCutcheon, Phil Crosby and Bev Crosby


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Jill HetheringtonEmployer Services [email protected]

Construction Industry Scheme (CIS)

Payment Date From £ To £Statutory Redundancy Pay February 2013 430 450Guarantee Payment February 2013 23.50 24.20Statutory Sick Pay April 2013 85.85 86.70Statutory Maternity Pay April 2013 135.45 136.78Statutory Paternity Pay April 2013 135.45 136.78Statutory Adoption Pay April 2013 135.45 136.78

Minimum director salaries 2013/2014 tax yearAs the national minimum wage does not apply to directors, there is more flexibility to pay a tax e�cient salary.

Changes to the income tax and national insurance rates from April 2013 will mean you can increase your current monthly salary from £624 to £641 or weekly wage from £144 to £148, without any deductions of tax or national insurance (based on the new standard 944L tax code). This level of salary will earn you the pension credits that are needed to ensure you receive your state pension. Currently, 30 years of qualifying pension credits are required to receive the full state pension.

There are some instances when the above rates are not the most tax e�cient, and a lower salary is more appropriate. If your current monthly salary is £464 this should be increased to £473 or if your current weekly wage is £107 this should be increased to £109. This means that you will continue to earn pension credits that count towards the 30 years qualification needed for your state pension.

Viewing your PAYE liabilities and payments onlineProviding you are registered for online services you can now view a summary and details of the payments that HMRC have received in respect of your PAYE liabilities. This is accessed via HMRC website - PAYE online service – View Account. Now might be a useful time to view this to ensure that your payments are up to date.

Have you paid your PAYE liabilities for 2012/2013?If you are struggling to pay your PAYE liabilities now is the time to contact HMRC to discuss arranging a payment plan. Do not wait until 19 April 2013 when your final PAYE payment is due as HMRC will not accommodate you.

Call HMRC payment support service on 0845 302 1435 – this service is available for individuals and businesses who have not yet received a payment demand.

Late payment penalties… HMRC may charge penalties for any PAYE/Construction Industry Scheme (CIS) tax or national insurance liabilities that are paid late.

Make sure that you pay your liabilities on time and that the

New Rates


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Sheila Davidson Linsday Peile Morag Adamson

Meet the rest of the team...

Running your own payroll?

Year end filing 2012/2013Date for your diary – your last form P35 ‘employer annual return’ for 2012/2013 needs to be filed online at HMRC by 19 May 2013. If your return is late you will automatically be issued with a penalty. Be aware that HMRC have a few days of ‘downtime’ when no online filing can be done, check their website regularly as this date can change at short notice. Top tip is to file soon a�er your last payroll has been ran, don’t wait until the last day!

Real Time Information starts April 2013 are you ready? Real Time Information (RTI) is almost upon us - thorough preparation will ensure that you have a smooth transition to the new system.

payments reach HMRC by 19 of the following month or 22 of the following month if paying electronically. Don’t get caught out with a late payment penalty - if the 22 falls on a weekend or bank holiday then your payment must reach HMRC by the previous working day.

Student employees - form P38 (S) forms withdrawn from April 2013If you employ a holiday-work student, at the moment you can use form P38(S) to enable you to pay them without deducting tax as long as their earnings don’t exceed their personal tax allowance. However from April 2013 these forms are to be withdrawn and students will be treated the same way as all other employees for PAYE tax and national insurance purposes regardless of when they work for you.

Below is a few pointers to help with the smooth transition to RTI:

• Internet access needs to be available as all information is now sent to HMRC

• Your payroll so¨ware is compatible with RTI.

• Data quality needs to be accurate. Make sure employees full names, national insurance numbers, dates of birth, gender and addresses are all present and correct on your payroll records and remember all casual employees must be included on your payroll.

• Paying your employees - if it is your usual practice to pay your employees on a Friday but actually process the payroll at a later date, this will no longer be acceptable. HMRC want the payroll reports sent online before or on the day that you pay your employees.

If we can be of assistance please contact Jill Hetherington on 01228 711 888 or [email protected]

“HMRC want the payroll reports

sent online”


18

Update on VAT online services and penalties


Julie OsbornVAT [email protected]

Are you aware of the VAT online services now available and the penalties that could be imposed for a late return?

It is now compulsory that all VAT returns are submitted online which is not as much of a chore as we first anticipated. HMRC are continually expanding their online facilities for businesses to make this more user friendly and ultimately save time that could be better spent developing your business and making money.

The VAT online account now allows us not only to submit the VAT return, but we can also:

• view previously submitted returns

• view what the VAT liability is and see if any penalties or interest have been charged

• view the registration certificate

• change registration details including business name and trading name along with business contact details including telephone number and email address

• change business bank details

• cancel your VAT registration • apply for exemption from

VAT registration

If you are a new business or a business that has reached the VAT registration threshold, VAT registration can also be completed online which is much more e�cient to do than completing a paper VAT registration form. When completing the VAT registration form online, you can also apply to join the Flat Rate Scheme (FRS) and request that your VAT quarters tie in with your accounting year end. Previously, a separate form had to be completed to apply to join the FRS and a letter had to be sent to request that the VAT quarters tie in to the financial year end.

Making use of the VAT online facilities could make the VAT burden seem less daunting and speed up the task in hand.

VAT penaltiesHMRC have a penalty structure for mistakes and delays with your VAT returns which could be very costly to you and your

business. The penalty for late returns is dependant on the turnover of the business and the number of previous delays that have occurred but could be up to 15% of the unpaid VAT liability.

Penalties for inaccurate VAT returns could also have a big impact on your cash flow if for example a careless error is made on a return which is later found during a VAT enquiry. A maximum penalty for this could be up to 30% of the VAT owed. Penalties for deliberate and concealed errors could result in a penalty of 100% of the VAT owed!

If you require any advice regarding the VAT online services or perhaps you would like us to prepare your VAT each quarter to ensure the returns are completed accurately and on time, please contact Julie Osborn or Kirstie Somerville on 01228 711 888


19

www.davidallen-recoverysolutions.co.ukDavid Allen Recovery Solutions is the trading name of Debts-In Ltd. Company Number 07884710. Registered in England and Wales

Joanna SeminaraDavid Allen Recovery Solutions

[email protected]

I work in David Allen Recovery Solutions at our Dalston o�ce. My role varies from day to day, but the end goal is always the same - to achieve the best outcome for my clients.

Part of my day consists of communicating with our David Allen Recovery Solutions clients, to receive instructions from them to chase a debt, and then negotiating with the debtor and arranging a payment plan that both parties are happy with.

My role is essential as clients do not want to take court action unless this is absolutely necessary. The majority of clients would rather receive the monies owed to them over a period of time rather than the added cost and stress of taking someone to court.

I have been in the legal industry for over 10 years. Gaining experience in this field and dealing with the issues that arise is crucial. It can be a di�cult job speaking to debtors that simply cannot a�ord to make any payment and are actually struggling to put hand to mouth. This is o�en the main reason that businesses perhaps do not chase their outstanding debts as regularly as they should, but we can take the strain o� you.

If you do have outstanding debt and need help in collecting this in, please contact me to take this pressure from you. I will be more than happy to help you negotiate with your customers and collect monies that you are owed.

Outside of the o�ce I have a number of di�erent hobbies and interests one of these is languages. I have been learning Italian for the past

5 years – I hope to become fluent one day but this will take a lot of practice to be able to go to Italy and have in-depth conversations with people is my goal.

I also enjoy reading fiction books in my spare time and find this relaxing. I like spending time with my family and friends especially on breaks away exploring di�erent cities in the UK.

To assist with negotiating payment plans from your debtors or any other credit control queries, please contact Joanna on 01228 713 070 or [email protected]

The art of negotiating


2020

Jamie PapeIT [email protected]

Untangle the web and make it work for you


Regardless of the type of work you are in, your business will benefit greatly if you have a website and any business that does not embrace the change in culture, where the internet is so widely used, will be le¨ behind. When businesses do not use such methods of advertising, the potential customer base reduces considerably and they will find consumers taking their business elsewhere.

With the ever increasing use of mobile technologies such as tablets and smartphones, people can shop on the move; they can browse products and find services in an instant and this means making your business mobile too.

Other methods of advertising which can benefit a business

include the use of social networking sites such as Facebook and Twitter. By advertising your business through a page, people can ‘like you’ and promote your business or brand through their connections.

Devices can connect to mobile data instantaneously which allows business owners to be at the very heart of things, with email, internet, and phone capabilities all at the touch of a button. Applications such as Word editing so�ware, mapping apps, mobile accounting so�ware and personal apps such as internet banking are all available in the palm of your hand. Security at a mobile level has also taken strides and newer versions of operating

systems, where the protection includes backing up data and a high level of encryption for email, conform to stringent security standards. You can also now connect to your desktop PC back at the o�ce by using a tablet, or smartphone, allowing you to edit documents and access resources online from wherever you may be in the world.

Mobile computing can be a�ordable and e�ective so if you wish to discuss your current IT requirements and how we could assist in moving your business forward...

...please do not hesitate to contact Jamie Pape at David Allen IT Solutions on 01228 711 888, orjamie.pape@ david-allen.co.uk


21


Nicola RaysonSage Specialist

[email protected]

Your accounts, wherever you are, whenever you want them. Sage online brings you the best of both worlds

Sage One - online accounting and payroll solutionsHaving the accounting and payroll package which best suits your needs is vital for the e�cient, day to day control of your company finances. Sage like everyone is moving on with technology and they have produced the following online accounting and payroll solutions for the small business. These simple to access and easy to use packages could be just what you need…

Accounts• £10.00 plus VAT per month • produces VAT returns• produces customer and

supplier statements• create personalised invoices• easy to track money going

in and out of your business

Cashbook• £5.00 plus VAT per month • designed for sole traders

• simple accounting for cash-based businesses

• work online with your accountant

• integrates with Sage One Payroll

Payroll• up to 5 employees £5.00

plus VAT per month • up to 10 employees £10.00

plus VAT per month• up to 15 employees £15.00

plus VAT per month • RTI ready• fully compliant with payroll

requirements and HMRC recognised

• print payslips• easy to make corrections• no need to worry about tax

updates at the year end• record your payments to

HMRC

You can access Sage One from anywhere at any time using an internet connection. Sage One is web-browser based, so it doesn’t require any installation; they simply recommend that you use the latest internet browser to access Sage One on your PC, laptop, iPad, Mac and more!

Book your place now for our free Sage seminar 25 April 2013

New features in Sage Instant Accounts • learn the basics of Sage

Instant Accounts• see how you can benefit

from moving from a manual or excel book-keeping system to Sage

• create your sales invoices• cut cost by emailing your

sales invoices• produce a profit and loss

report • produce a VAT return and

submit it to the revenue direct from Sage

Watch this space for further seminar details

If you would like more information on seminars, please contact Nicola Rayson on 01228 711 888 or [email protected]



Sta� Profile

Sophie WaughAccounts [email protected]

Sophie is one of the youngest members of our team but shows great maturity and loyalty to our firm. Sophie is an integral part of our Workington o�ce and I have pleasure in introducing her as this editions sta� profile.

Sophie lives with her family in Broughton Moor and was educated at Keswick School achieving 10 GCSE’s and 3 A Levels. Accountancy was always her chosen career path and she was employed by David Allen in August 2009. A�er a short time in the administration department she was encouraged and sponsored to enrol on the three year AAT course. With only one exam le� to pass she is well on the road to achieving her goal.

Accounts administration sta� are a necessity within our organisation and of paramount importance is accuracy, e�ciency and reliability. Sophie demonstrates all of these skills by prioritising her workload and managing our VAT deadlines,

sharing tasks at short notice, being flexible and helping others. Sophie contributes to the smooth running of our o�ce as she is dependable, trustworthy and enthusiastic.

What do you enjoy most about your job at David Allen?The best thing about my job is the variety. You are always learning and being o�ered new and challenging roles. I enjoy working with and getting to know our clients, I feel I have good grounding as my Brother and Aunty are self employed and therefore understand their needs and expectations. I have recently become involved with accounting so�ware, particularly Sage and I hope to improve my knowledge and gain further qualifications in this area.

What experience have you gained at David Allen?Where do I start! I’ve learnt so much at David Allen. Being part of a team and the importance of good communication is first. Learning that a methodical approach and being well organised, even on the most routine of tasks, is so important. I have gained technical knowledge throughout my time

22Sophie greating a client at our Workington o�ce


23

here as well as confidence in meeting and helping clients.

What is your current role at David Allen?I transferred to the Workington o�ce in April 2010 and work as part of the trader department. Our work is to prepare accounts for sole traders and partnerships. I have my own VAT allocations and manage the deadlines each quarter at the Workington o�ce. I am involved in regular in-house and external training and have been gaining experience working with accounting so�ware packages. I am assisting Jane with the development of the Workington o�ce and regularly o�er my ideas on how to improve the service we o�er.

What are your interests outside of David Allen?I am building a house in Broughton Moor where I grew up and this is taking up most of my spare time and money! I love to shop and dine out with my family and friends, although I can’t do this as much as I’d like at the moment, it’s so exciting to be involved in the creation of my own home.


Sophie greating a client at our Workington o�ce

Sophie working alongside Jane

“You will always get a warm and friendly

welcome at the Workington o�ce.”

The AAT-ACA Fast TrackThe AAT-ACA Fast Track route to becoming a Chartered Accountant is well established and designed in partnership with the Association of Accounting Technicians (AAT) and the Association of Chartered Accountants (ACA). This route allows individuals who have achieved good A-Levels and the ‘AAT Technician/Level 4 Diploma in Accounting’ to undertake ACA training. Becoming AAT qualified takes two years and the subsequent ACA training would last a further two to three years.

If you are determined, enthusiastic and looking to develop a career in the accountancy profession we want to speak to you......we may be able to o�er you the route that you need to succeed.

Did you know...• there’s more than one route

to becoming a Chartered Accountant?

• you don’t need a degree?

• you can earn a salary whilst you train?

• you could qualify as a Chartered Accountant by the time you are 21?

• You can start your training a¨er your GCSE’s through the AAT-ACA Fast Track route?


24

FAQ’s

Sarah FarquharCorporate & Audit [email protected]


Q: I am due to receive my state retirement pension in September 2013. However, I am currently a higher rate tax payer and as I will also be receiving a private pension will end up paying 40% tax on my entire state pension. Is there a way I can avoid this?

A: Possibly. If you expect your income in later years to be below the higher rate tax band it may be beneficial for you to defer receiving your state retirement pension until a later tax year. You can opt to receive your deferred state pension as a lump sum payment (if you defer it for at least a year) or choose an increase in the amount of weekly state pension. There are however other factors which should be considered before you make the decision, but if you would like to talk to one of our tax team regarding whether or not to defer your pension please get in touch.

Q: I have received notification from the Tax Credits O�ce that I no longer qualify for Tax Credits from 6 April 2013 onwards. However, my income has gone down from previous years. Can I still claim?

A: Yes, if you think you will still qualify for Tax Credits you need to contact the Tax Credits o�ce as soon as possible to advise them that you would like to stay in the system as you anticipate that your income has reduced.

You will still need to complete the Annual Declaration form for 2012/2013 before 31 July 2013 and this is something that we can help you with.

Q: I made a payment on account in January 2013 towards my personal tax bill for 2012/2013 and have a further payment becoming due in July 2013. I think my income has gone down for the year. Do I still need to make the payment in July?

A: If you provide us with the information to complete your accounts and Tax Return as soon a�er 5 April 2013 as possible, we will be able to calculate the exact tax due for 2012/2013. If your taxable income has decreased it might be possible to reduce the payment that is due in July 2013. If the payment made in January was higher than your actual liability then you may receive

a tax repayment. The sooner you get your information to us, the sooner you will receive any repayment that is due to you.

Q: I am in receipt of Child Benefit but my income is over £50,000. Will I have to pay this back?

A: If you or your partner has income over £50,000 you might have to pay back some or all of the benefit you have received. The amount to pay back will depend on the income of the highest earner, but you might get some relief for certain payments made such as pension or gi� aid contributions. If you think that you might have some benefit to pay back you will need to prepare a Tax return. But please don’t worry, we can deal with all of the paperwork and complete the return for you.

Contact Sarah Farquhar on 01900 878 000 orsarah.farquhar@davidallen.co.uk


25

David Allen Out and About...


Upcoming charity events The David Allen team are always out and about and looking to raise money for charity wherever we can. In May Dan Foster is going to be participating in a skydive at Flookburgh, Grange Over Sands in an attempt to raise money for Cancer Research UK and the Eden Valley Hospice. Join me in wishing Dan the best of luck in raising money for what are very worthwhile causes. The David Allen team will also once again be taking part in this years Total Warrior event based in Shap. This involves completing a gruelling 10km assault course in what are usually treacherous conditions. The team will be raising money for a very worthy cause, which has yet to be decided. Look out for more charity updates from the team.

Workington Bowling

On Friday 1 March the Workington o�ce had a great night out together at Eclipse Leisure Centre ten-pin bowling. Divided onto two lanes we all played for Easter eggs as first prize. Robert took first prize in lane 1 and Chantelle cleared up in lane 2 a�er Sophie had been in the lead right up to the her last throw. A�erwards we all headed to Caspian across the way on Derwent Howe for pizza and pasta. It was a fun night and everyone had a really good time.

Work Ready Day

St Joseph’s Catholic School in Workington kindly invited David Allen to take part in their ‘Work Ready Day’. Alongside Sellafield Limited, The Territorial Army, Lakes College and many others we took part in mock interviews with year 10 pupils. For most of these young people it was the first time they have been in an interview situation and they found the experience quite nerve wracking. However, at the end of the process they were able to appreciate the value of the interview and given feedback which will be useful before they start their Work Experience Placements. It is very important for young people to hear directly from employers about jobs and careers. It can help change their perceptions of the jobs available, and also inspire them to consider options they might never have thought of. We would like to thanks St Joseph’s Catholic School for letting us take part in such a valuable exercise.

“See you at Cockermouth Show on Saturday 3 August 2013”



26


Chartered Accountants’ dinner – Roundthorn Country House Hotel

On Friday 8 March a number of the David Allen sta� attended the Cumberland Society of Chartered Accountants’ annual dinner at the Roundthorn Country House Hotel located near Penrith. The night commenced with an informal drinks reception followed by a delicious three course meal.

A�er a number of short speeches it was time for the a�er dinner entertainment. Scottish mind reader Drew McAdam performed his critically acclaimed show ‘mindplay’ which proved very amusing to say the least.

To round the evening o� and my personal highlight of the night, we all had the opportunity to try our luck at the casino tables. Unsurprisingly this became quite competitive as there was a prize at stake for the individual with the most chips at the end of the night.

A great night was had by all and a big thank you to the Cumberland Society of Chartered Accountants for providing a fantastic night of entertainment.

Dan Shah explaining the introduction of RTI to a packed room

Sage RTI Payroll Seminar David Allen hosted a Sage RTI Payroll Seminar on Thursday 28 February 2013.

With guests arriving from 9am they were greeted with teas, co�ees and a selection of cakes and biscuits.

The seminar was led by Dan Shah, a representative from Sage, who explained what the introduction of Real Time Information (RTI) means and how Sage can help with the change to RTI.

He explained how Sage will process and send data to HMRC and process it under RTI, the new features in Sage 50 Payroll V19 including the Sage submissions log which lets you view and

check the status of HMRC submissions and an RTI health check tool which will ensure your data is error free before HM Revenue & Customs submission.

If you have any queries about Sage please get in touch with our Business So�ware Specialists, either Nicola Rayson or David Scott on 01228 711 888.

Chartered Accountants Charity Quiz In January a David Allen team attended the annual Chartered Accountant's charity quiz which was held at Merienda- a cafe/bar in Carlisle. The quiz was organised by Louise Brown who works at Lamont Pridmore and there were teams in attendance from most of the accountancy practices in the area.

There were prizes for the top 3 scores, the best team name and also ra·e prizes. The quiz was organised as a charity night in aid of Macmillan Cancer Support raising a fantastic £230 in total! We would like to say a big thank you to Louise for organising the event and to Merienda for a lovely evening.

Sandra, Mark and Danny at the dinner



27


10 half marathon challenge progress

All the planning and training finally got put into action as our first half marathon got underway on 6 January 2013. We have now completed 2 runs, the New Year Half Marathon in Catforth near Preston and The Great Run North West in Blackpool.

The organisers of these runs had also noticed our matching t shirts and pledged us some sponsorship towards our cause, which was a lovely gesture from complete strangers. Look out for further updates on our progress, our next run is in Liverpool in March, we’re all fully recovered from the last one and raring to go. The total amount of sponsorship to date is £1,585.94. If you want to support our challenge, please go to www.justgiving.com/Alisons10yearanniversary.

Leanne DonaldLeanne and friends getting ready for the start

of The Great Run North West in Blackpool

Thomas Armstrong Renewable Energy Open Day

On Friday 25 January David Allen was invited to Thomas Armstrong Renewable Energy’s grand opening day of their new energy showroom. You may remember their article in the last issue.

Members of the Thomas Armstrong Renewable Energy Team including their installers and o�ce team were available to discuss how renewable energy can benefit businesses.

The event was a great success, we wish Thomas Armstrong Renewable Energy all the best.

Focus Group Every six months I attend the Northern Focus Group ran by Companies House to keep up to date with the latest developments and to ensure our clients receive current advice. You may have noticed that the Directgov and Business Link websites are no longer available. A new government website has been set up, www.gov.uk, to replace both Directgov and Business Link. If you have any queries regarding your company then please do not hesitate to contact Robert Nordon on 01228 711 888.

Team New Blood celebrating their success.

Chris Chan fighting out of New Blood stopping his opponent from Southport

in the second round of the bout sponsored by David Allen.

On Saturday 23 February 2013 David Allen sponsored a fight at the New Blood boxing show. The show was held at the Hilltop Hotel in Carlisle and was attended by over 400 spectators. The evening consisted of 13 boxing bouts and 1 K1 kickboxing bout. All home fighters were trained by David Scott who is a Business So�ware Specialist here at David Allen. The home fighters fared well against opponents from Glasgow, Southport, Hawick and Liverpool. For more information about this show, New Blood Martial Arts or future events please visit www.newbloodmartialarts.co.uk

New Blood presents seconds out boxing show


[email protected]

www.david-allen.co.ukThis newsletter is for guidance only and professional advice should be obtained before acting on any information contained herein.

ContactsDalstonDalmar HouseBarras Lane EstateDalstonCarlisleCA5 7NY

Tel: 01228 711 888

Penrith3 Hobson CourtPenrith 40 Business ParkPenrithCA11 9GQ

Tel: 01768 877 000

WorkingtonProsper HouseRegents CourtGuard StreetWorkingtonCA14 4EW

Tel: 01900 878 000

AccountancyTaxation

Audit and AssuranceBusiness Advice

BookkeepingBusiness Management

Tax PlanningStrategic PlanningEmployer ServicesValue Added TaxIT ConsultancySage Support

Wealth ManagementWills and Estate Administration

Recovery Solutions


Prinect PDF Report 11.0.041 - 1 - 03/12/2013 02:42:28 PM

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Connecting - David Allen · 2020. 4. 23. · upcoming 2013/2014 tax year the limits are £11,520 and £5,760 respectively. For more information and to ensure you have a happy new