Barnett & Turner Accountants Ltd | Latest News
Chartered Accountants & Chartered Tax Advisers based in Mansfield, Nottinghamshire
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24 May Customer service? We’re still waiting for the Revenue’s answer…

If you’re trying to get hold of the taxman, but failing, you’re probably not alone. HMRC customer service has come under a great deal of scrutiny recently. And your accountant may be having exactly the same difficulties as you. We’re all used to battling with call centres, whether we’re trying to upgrade a phone, pay an outstanding bill or complain about poor service. When our query or request is about tax, however, we understandably get a little more edgy. If we can’t speak to a representative of HMRC, it’s often impossible to resolve problems, causing a lot of difficulty for both...

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17 May Start your business by the book

You’ve launched a new business and are optimistic about the future. Perhaps you want to focus on the development of your product or service, or on marketing it to prospective customers. Unfortunately, however, day-to-day book-keeping is an essential part of every successful start-up. You ignore it at your peril argues Jonathan Wilson of Midlands accountancy firm Barnett & Turner. If you’re a budding entrepreneur with big ambitions – or simply someone who has decided to branch out with your own micro-business – the chances are that you will have some kind of particular skill or talent. Perhaps you’re an expert consultant,...

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10 May Taking the pain out of payroll

Outsourcing your payroll run can help reduce errors, says Natalie Goodall of accountancy firm Barnett & Turner. At the same time, it can ensure you comply with ever-more complex regulations. If you run a small business and manage your own payroll, the chances are that you’ve already seen at first hand some of the problems that can inevitably arise. It’s a time-consuming and increasingly complex process as regulations change. After all, we now live in a world of auto-enrolment and real-time reporting. There are significant risks to your business if you’re unable to keep up with the latest rules. Errors aren’t just...

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04 May The importance of keeping in touch

If you want to build a stronger business, your relationship with existing clients is absolutely critical argues Jono Wilson  of Barnett & Turner. There’s an old adage in business which is still true today. It’s much easier to sell your latest product or service to your existing client base than it is to go out and find new customers. So keeping a good relationship going is clearly in your financial interest. But it’s worth focusing on some of the other advantages too. In many market places, you may find your competitors are becoming more and more aggressive in targeting your client base....

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19 Apr Too much capital? Your company may have more options than you thought.

For some years now, it’s been possible to reduce the capital in your company without going to court. More owners could probably take advantage of the freedom on offer, argues chartered accountant, Jonathan Wilson of Barnett & Turner. For many years, one of the fundamental concepts in company law was the notion that issued share capital had to be maintained and couldn’t be returned. In fact, this was generally accepted for more than a century until the Companies Act of 2006 made it to the statute book. Over the best part of a decade now, private companies have no longer had to...

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29 Mar Flat-rate pensions: clearing up the confusion

It appears to be a straightforward concept, but the new state pension regime does, in fact, throw up a few complications writes David Wilson of Barnett & Turner. From 6th April 2016, anyone who reaches state pension age is entitled to the new flat-rate payment. While the concept implies that all pensioners will receive the same amount of money under the scheme, things aren’t quite that simple.  The sum paid out will depend on how many NI qualifying years you’ve accrued, as well as the number of years of entitlement to the additional state pension you’ve built up. There’s something else to...

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23 Feb Tough new fines loom for safety slip-ups

If you thought a breach of health and safety regulations would just result in a rap over the knuckles, new sentencing guidelines may make you think again, argues David Wilson of accountancy firm Barnett & Turner. From 1st February 2016, the sentencing guidelines for health and safety regulations became a great deal tougher. Although the advice is issued for courts in England & Wales, it’s likely to be considered within the Scottish legal system too, as most of the relevant laws apply right across the UK. Under the new regime – which covers health & safety and corporate manslaughter, as well as...

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09 Feb A New Era for Tax Reporting

As the dust settles in accountants’ offices up and down the country after the annual January rush to meet the deadline for Self Assessment tax returns, it’s the perfect time to look ahead to the new Digital Tax Accounts that were first announced back in the March 2015 Budget writes Tracy Henson of Barnett & Turner, Chartered Accountants & Chartered Tax Advisers. The Government have set out plans to modernise the current tax system, making the current returns a thing of the past.  Instead, there will be a digital online account for millions of individuals and businesses, where all tax affairs...

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26 Jan Why back-ups should be front of mind

It may be the end of a long day, but the inconvenience of backing up your files is nothing compared to the problems that can result from lost or corrupted data, says Debbie Birkett, office manager at Barnett & Turner. How often do you back up your Sage data? What if I said you really ought to be doing it every time you use the package? It may sound like overkill but, in the business world, your accounts information is just too important for you to sit back and cross your fingers. Once you get into a routine, you’ll probably find that...

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12 Jan Dividend changes: are you ready?

In his 2015 Budget, Chancellor George Osborne introduced significant changes to the taxation of dividends. Owners of small businesses need to take note according to Jonathan Wilson of Chartered Accountants and Chartered Tax Advisers Barnett & Turner. It’s quite usual for directors of small companies to extract profits as dividends, which form a regular income. The main reason is tax efficiency, as when the dividend is paid out to an individual, it is treated differently from other income. There’s a notional tax credit of 10%, which means that if you’re on the basic rate, the effective tax due is zero. Higher-rate...

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