Tuesday, 19 May 2009

Extra 7 Days Concession For P35s / P14s

Today, 19 May 2009, as we all know, is the deadline day for submission of our P35 and P14 end of year returns to HMRC.

Ideally, we should all try to make this deadline, but, if you can't, don't panic.

Thanks to Extra Statutory Concession number B46, you can actually file your returns by midnight on 26 May 2009 (up to 7 days beyond the deadline) without incurring a penalty.

For those who have not yet done so though, you should also bear in mind that employee P60s must be with them no later than 31 May 2009.

Monday, 11 May 2009

UK's First Home Enterprise Day Announced

At 1st Addition, we're happy to announce our involvement with the UK's first ever Home Enterprise Day, which will will be held on Friday, November 20th.

The celebration forms part of Global Entrepreneurship Week, for those interested in getting involved.

Global Entrepreneurship Week
Global Entrepreneurship Week is a week long celebration of enterprise that's been running since 2004, albeit under a different guise in the UK ('Make Your Mark: Enterprise Week').

Over 644,000 people took part in last year's events and this year looks set to be even bigger.
This is the first year to include a day on which to celebrate home business - so let's make it a good one!
Home Enterprise Day
Global Entrepreneurship Week runs from November 16th - 22nd and our day will be on the Friday, November 20th.

Our friends at Enterprise Nation are leading the celebrations and recognising the millions of people in the UK who are starting and growing a business from home.
The highlight of the day will be the Enterprise Nation annual conference. At the event, you'll hear from inspirational speakers, meet other home business owners and be the first to congratulate winners of the 2009 Home Business Awards, announced on the day.

How you can get involved

More details about the conference are on their way - and Enterprise Nation members will hear first, so don't forget to register. The whole process is free and simple - and you can get started n the link below:

Also, for regular updates, prior to the event, you can follow Enterprise Nation on Twitter:

As events unfold, and our own involvement is finalised, we will continue to keep you updated as well.

Watch this space.

Saturday, 9 May 2009

Judge Freezes Credit Claims

Consumers overwhelmed with debts are unlikely to be able to write of credit card debt due to unenforceability.

A judge has frozen more than 100,000 claims by indebted borrowers attempting to write-off credit and loan debt by using a loophole in the law which could make the contracts unenforceable.

In a hearing last Friday in Chester County Court, Judge Derek Halbert announced that all cases have been put on hold pending the outcome of "a few carefully selected" test cases in the Commercial Court in London.

The ruling means that over-indebted borrowers will have to carrying on repaying loans until a judgement is made.

In the meantime, consumers have been warned not to fall for adverts by claims handlers promising to wipe out credit card debt alleging that agreements put in place before April 2007 are potentially unenforceable.

Daniella Lipszyc, a solicitor at Ultimate Law, a law firm, said: "The ruling by His Honour Judge Halbert is a landmark decision that will have massive implications on cases involving the enforceability of credit agreements.
“After a number of early wins, many claims management companies have jumped on the band wagon, promising desperate consumers that they can write off credit card balances.
"In reality, cases have simply ground to a halt as banks and lenders up their game and become more clued up on the Consumer Credit Act and subsidiary legislation. It’s now extremely inappropriate and misleading for any company to promise to write off balances in light of this judicial move.”
Last week the Solicitors Regulation Authority (SRA) announced that it was investigating ten claims management firms for misleading customers over the prospect of writing off debts.

It also warned consumers to be wary of statements suggesting that 80 per cent of credit agreements and unenforceable.

Antony Townsend, chief executive of the SRA, said: "These ads appear to offer an easy way out of difficulty to people who have debts they are struggling to pay. But many credit agreements do meet the legal requirements and, therefore, can't easily be challenged as unenforceable."

This blog post is reproduced directly from an article in TimesOnline, dated 7 May 2009

Monday, 4 May 2009

Companies House Deadlines Cut By One Month

The Companies Act 2006 has brought about many changes in recent months. One of these is the reduction of filing dates for accounts from 10 months to 9 months for private companies and from 7 months to 6 months for plcs.

These new deadline come into effect for accounting periods beginning 6 April 2008 (so, for most of us, that means years ending on or after the 30th of last month).

This change, coupled with the dramatic increases in late filing penalties, means that companies have to be extra vigilant with their filing deadlines, in order to avoid undue extra expense.