Marketing for small to medium sized businesses has developed dramatically in the last few years. Prospective customers are much more informed about the service they should be getting from you, and what they might pay for your products and services.

Many legislative changes are confined to April and October each year. 1 October 2006 sees the introduction of a number of changes not least of which are the increases to the national minimum wage (NMW) rates.

The Employment Equality (Age) Regulations 2006 become law from 1 October 2006 and this has far reaching implications some of which we have reported on previously.

Well prepared financial accounts for any business give an excellent insight into the relevant efficiency of that business. The cold hard figures give an immediate statement of your return on assets, stock turnover, cash management, workforce productivity etc.

New guidance has been published on the Regulatory Reform (Fire Safety) Order 2005 which is due to come into force on 1 October 2006. The Department for Communities and Local Government (DCLG) has published guidance explaining what businesses need to do to comply with the new rules.

Previously we have reported on the changes to inheritance tax (IHT) and trusts, which were announced in the Budget and caused great controversy.

HMRC have issued revised guidance to employers on the tax and NIC free provision of childcare. The guidance has been updated to take into account the increase in the tax and NIC free limit from £50 to £55 a week which came into effect from 6 April 2006.

As in previous years, HMRC offices will be sending out letters over the next few weeks with advice for small businesses on calculating business income for the purposes of self assessment. The letters have been criticised in the past for giving the impression to taxpayers that there was something wrong with their tax returns.

Research from the Credit Services Association (CSA) suggests that British businesses are resorting to the courts at an early stage in order to recover debts. This is despite the fact that taking such action is likely to destroy business relationships.

As A-level and GCSE results are released, David Frost, Director General of the British Chambers of Commerce (BCC), described the frustration businesses feel about the lack of youth skills in the UK.

A couple of months ago we reported on the Pensions White Paper which looks at many proposals for pension reform. We have included the link to the White Paper.

HMRC have published guidance on their website that they have incorrectly advised some employers they have underpaid their PAYE/NIC payments for the year ended 5 April 2006.

Whether yours is a new or a mature business, ensuring that you have the necessary finance is essential for achieving your objectives. Indeed, one of the most common causes of business failure is badly structured or inadequate financing.

HMRC have announced new rates for journeys on or after 1 July 2006. These rates apply to company car drivers who are reimbursed for business miles driven. The rates can also be used by company car drivers who claim all their fuel costs and then reimburse their employer for their private mileage.

Lord Carter has revised his recommendations on bringing forward the personal tax return submission deadline. After consultation with the professional bodies, the proposed deadlines from 2008 will be 31 October for paper returns and will remain at 31 January for returns filed online.

HMRC have been considering various ideas which might reduce time spent on enquiries and have announced that trials started in July.

Wolverhampton based firm of Chartered Accountants AGS is advising local businesses to be aware of further clarification issued by HM Revenue and Customs regarding claiming tax on business mileage.

ASP is a model that is providing businesses with an it cost-effective option. global companies, small and large, are taking this route for ease of implementation, and across industry, many enterprises are starting to embed the asp-style of service provision into their businesses, and seeing real advantages.

Another long-term burden the customer avoids is hardware maintenance and software upgrades. Quite apart from the cost, these can be disruptive to business, and are often extremely difficult exercises needing specialist skills.

Whether you are a growing organisation taking the first step on the technology ladder or a mature business with significant IT infrastructures, ASP can complement your level of IT maturity by providing access to “best of breed” management solutions.

Last month we reported on the proposed inheritance tax (IHT) changes for trusts. The professional bodies have been lobbying HMRC and the government to reconsider the rules and appear to have had some success. The legislation is being amended on its way through parliament.

Last month we updated you on reaction to the surprise announcement, made on Budget Day, of the proposal to bring forward the tax return submission deadline from 31 January to 30 September for paper returns and 30 November for electronic ones.

The long awaited White Paper was released on 25 May. It contains many proposals which would change the pensions system quite radically.

In recent months, HMRC have begun to take a very hard line with the reclassification of subcontractors to employment status. The effects of this can be bad enough for a business but it now appears that HMRC are taking a much harder line.

Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us. The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance.

Last month we reported on the proposed inheritance tax (IHT) changes for trusts. The professional bodies are lobbying HMRC and the government to reconsider the rules and we will keep you in touch with developments. If you have a trust, created before Budget day, there is no need to take any immediate action as the IHT charges will not generally take effect until 2008.

Last month we reported that forms P11D which report details of employees’ benefits in kind and expenses have to be with HMRC by 6 July. Some of you will no doubt be trying to collate the necessary information to prepare these forms which is a time consuming process.

Under the Civil Contingencies Act local authorities are now obliged to help businesses plan for disasters such as fires, terrorist attacks and bird flu. The new services, launched recently, are designed to ensure that disasters cause as little damage to the economy as possible and businesses continue to trade.

Offering truly independent advice our expertise and experience spans the needs of both personal and corporate clients.

It is time to start gathering together the information to complete the forms P11D which report to HMRC details of benefits and expenses provided to employees and directors in the tax year to 5 April 2006. The forms have to be submitted to HMRC by 6 July so you have some time to track down the relevant information and to complete the forms.

The chancellor, Gordon Brown has revised his proposed Budget measures in respect of trusts, following protests by the life assurance industry and MPs amongst others.

Interest will start to run on any 2005/06 PAYE, NIC, student loan and CIS deductions not paid over by 19 April 2006. We are also aware that HMRC are chasing in year late payments with phone calls and in some instances turning up at the employer’s premises demanding a cheque

The new tax regime for pensions finally takes effect from 6 April 2006, referred to as ‘A’ day. There will be a single set of rules for all registered pension schemes. A summary of the rules is set out in the link below.

Tucked away in the vast amount of Budget information are some radical changes which result from Lord Carter’s review of HMRC online services. Businesses and individuals will have to be ready for online filing from as early as 2008.

Marketing for small to medium sized businesses has developed dramatically in the last few years. Prospective customers are much more informed about the service they should be getting from you, and what they might pay for your products and services.

A firm of Wolverhampton based accountants is advising local businesses to consider whether they really need an audit after the publication of an industry report showed that many directors are confused over the issue.

Gordon Brown presented his tenth Budget on Wednesday 22 March 2006. Will it prove to be his last? Has he won public and parliamentary support for his bid to become Prime Minister?