A Month Less to File Your Accounts

As part of the Companies Act 2006 implementations, the filing dates for accounts will be reduced from 10 months to 9 months for private companies and from 7 months to 6 months for PLCs.  This will come into effect if you have your accounting period beginning on or after 6th April 2008.

Companyaccounting periodstart date	Companyaccountingreference date	Deadline for delivery of AnnualAccounts to Companies House
Example for accounting period starting before 6 April 2008
1 April 2008	31 March 2009	31 January 2010	31 October 2009
Example for accounting period starting on or after 6 April 2008
6 April 2008	5 April 2009	5 January 2010	5 October 2009
1 May 2008	30 April 2009	31 January 2010	31 October 2009
1 March 2009	28 February 2010	30 November 2010	31 August 2010

 

It’s well worth remembering, because you will face a penalty if you don’t file your annual accounts by the due date.

The penalties are increasing too. From 1st February 2009 new late filing penalties will be applied

Length of delay in filing	Penalty -Private Company/LLP	Penalty -PLC
Not more than one month	£150	£750
More than one month but not more than three months	£375	£1500
More than three months but not more than six months	£750	£3000
More than six months	£1500	£7500

 

Where a company filed their accounts late the previous year, then the penalty will be doubled.

14 Day Concession

Section 706 of the Companies Act 1985 required companies to deliver documents in a legible form and allowed 14 days from the date of any rejection letter to re-file them. There is no replacement in the Companies Act 2006 for this section and so it will cease to exist from 1st October 2009. A company will therefore no longer have 14 days from the date of the rejection letter in which to amend and return accounts in an acceptable format.

For help with your accounts or filing them online simply complete the form below, and one of the Davenports team will get back in touch with you.

Accountancy Request

1. Your Name(required)
2. Post Code
3. Contact Number(required)
4. Email(valid email required)
5. I Need...
6. Help!
   A Change of Accountant
   Assistance starting up
   Help with the Payroll
   Help with Tax, CIS or VAT
   Help with getting money from my clients
7. Any other comments
8. To receive your FREE key fob, tick this box
9. Verification

 

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Corporation Tax Small Companies’ Rate

The Chancellor, Alistair Darling today annouced in his Pre-Budget Report that the planned increase of the small companies’ rate (SCR) of corporation tax from 21 per cent to 22 per cent from 1 April 2009 has been deferred until 1 April 2010.

The current rules at section 13 of the Income and Corporation Tax Act 1988 (ICTA) provide that, where a company is not a close investment-holding company and its CT profits (other than ring fence profits) are lower than the lower relevant maximum amount (LRMA) (currently £300,000), those profits are taxed at the lower rate of CT, known as the ‘small companies’ rate’(currently 21 per cent). Legislation will be introduced in Finance Bill 2009 to maintain the SCR at 21 per cent for the non-ring fence profits. The SCR for ring fence profits will remain at 19 per cent for the financial year 2009-10.

Section 13(2) of ICTA entitles companies with a profit of between £300,000 and £1.5 million to marginal relief (‘marginal small companies’ relief’) from tax computed at the main rate. The fraction used in calculating this relief will remain at 1/40 for non-ring fence profits and 11/400 for ring fence profits.

The upper and lower limits for small companies’ rate are set at section 13(3) of ICTA. These will remain unchanged.

For further information on Corporation Tax or the Small Companies Rate, contact us to see how Davenports can help

Accountancy Request

1. Your Name(required)
2. Post Code
3. Contact Number(required)
4. Email(valid email required)
5. I Need...
6. Help!
   A Change of Accountant
   Assistance starting up
   Help with the Payroll
   Help with Tax, CIS or VAT
   Help with getting money from my clients
7. Any other comments
8. To receive your FREE key fob, tick this box
9. Verification

 

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Davenports Registered Office Service

The new registered office service, allows new and existing incorporated businesses to use Davenports’ address as the business’ Registered Office.

Davenports can filter out the ever increase amount of junk mail received and give the business two ways of receiving the remainder of their post.

Firstly Davenports can forward the legimate post, based on predefined criteria supplied by the client, to the business.

Alternatively Davenports can open and scan the remaining post and either send by email, or provide a area to download the post from. If the latter is chosen then an email is sent to the client advising them that some new post has arrived.

For more information on this service, complete our form on our Registered Office page, or for more information on Davenports other company services, why not contact us.

UK Window Films Testimonial

Daniel - Business Owner - Windsor, Berkshire 

“I am extremely pleased with the customer service I have received off you. I haven’t even begun to use your services yet and you have assisted me with problems and have even offered to come to my home to assist. You will be an informidable asset to my new company now and in the future.”

Helping SMEs through the Credit Crunch

The hardest job for small and medium sized enterprises (SMEs), particularly in the current economic climate, is managing their cash flow.

Davenports now offer an invoicing service to all their clients, allowing their clients to concentrate on bringing in the money, whilst Davenports focus on getting the invoices out.

The service is not as expensive as you might first have thought, for a small flat fee per invoice Davenports will raise the invoice and either post it out or email it direct to the client’s customer.  The fee also includes the invoice being entered directly into the client’s accounts, preventing the need for double entry and associated bookkeeping fees.

For more about Davenports services or how they can assist you during the credit crunch why not contact us today.

eFXnet Services Limited Testimonial

David Abrehart - Director - Chichester, West Sussex

“Davenports’ bookkeeping services have been efficient and provided excellent value for money.”

Adjudicating on Opportunistic Company Name Registrations

There are some new rules that will apply under sections 69 to 74 of the Companies Act 2006 and will come into force on 1st October 2008. These will allow complaints to be made where a company has been registered with the intention of extracting money from the complainant or to prevent them from registering a name in which they have goodwill (”opportunistic registration”).

If you need any help ensuring that your company meets these guidelines, Davenports can help! View our company services page, or contact us for more information.

Company Names Adjudicator
Company names adjudicators will deal only with disputes about opportunistic company name registrations; that is, solely with applications (complaints) made under sections 69(1)(a) and (b) of the Companies Act 2006. These sections provide for complaints by businesses or persons who have a goodwill or reputation associated with a name and where that name (or a similar name likely to suggest a connection with the complainant) has been opportunistically registered as a company name by someone else with a view to obtaining money from the complainant, or to prevent the complainant from registering the name.

Company names adjudicators cannot deal with cases where someone feels that another company name registration is too similar to, or ‘too like’, their own company name but where there is no suspected opportunism behind the registration. These sorts of disputes or complaints are dealt with by Companies House .

No applications can be made before 1 October 2008. Any applications made prior to this date will be returned to the applicant.

A factsheet, including costs, has been produced by the UK Intellectual Property Office who will be operating the Company Names Tribunal and can be found by clicking on this link http://www.ipo.gov.uk/cna/cna-factsheet.htm

For further details and frequently asked questions on the October 2008 implementation click here.

Mood Interior Design Testimonial

Marc Peridis - Director - London

“Davenports have demonstrated a great amount of efficiency and professionalism. In a short period of time they have done everything from helping me out of difficult situations to help me get a better strategic outlook on my business! We couldn’t have shaped our success without their help.”

IPPS (UK) Limited Testimonial

Peter & Brian - Directors - Birmingham

“In the three years we have been dealing with Davenports they have always provided a professional service. However what makes Davenports different, is that they respond rapidly when your business needs immediate action to meet deadlines.”

Services for Directors and Owners

As a business director or owner it’s essential you can identify and meet the core skills your business needs to be successful.

These skills will be the same whatever business you run - whether you’re a sole-trading builder or you head a manufacturing company employing dozens of people.

There are intangible skills you will need, such as leadership skills, the ability to cope with long hours and hard work, and the inner resources to deal with stress and risk-taking. They also include strategy-setting and the ability to build and manage a team.

There are also functional skills that all businesses need. The smaller your business, the more of these skills you will need personally:

• finance - including cashflow planning, credit-management and managing relationships with your bank and accountant
• marketing - including advertising, promotion and PR
• sales - including pricing, negotiating, customer service and tracking competitors
• procurement and buying - including tendering, managing contracts, stock control and inventory planning
• administration - including bookkeeping, billing, accounts preparation and payroll handling
• personnel - including recruitment, dispute resolution, motivating staff and managing training
• personal business skills - including computer, written and oral communication, and organisational skills

To run a successful business it’s essential you recognise the limits of your abilities. So, as a business owner or director you also need the skill to know when it is best to hand over tasks to others by either:

• delegating
• recruiting
• outsourcing

For a quotation on any of our services please choose any of our departments to help your business grow: accountancy, web or print & design. Alternatively, you can simply get in touch.

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