2 VAT Ladies Newsletter – April 2019

5 months ago

We are delighted to introduce our first 2 VAT Ladies Ltd Newsletter, full of information and helpful tips, to not only keep you up-to-date with industry changes, but also share the latest news from our team.

Did you know??

Judy Seymour and Anne Moffat started trading as a partnership in 2008 as CMS Pub Accountancy and then changed to a Ltd Company in 2015 as 2 VAT Ladies Ltd. We have two offices whereby Judy is based in Castle Bromwich with our administrators, payroll and bookkeepers, and Cambridge is the home of our second office where Anne is based with an additional team of bookkeepers. We have clients across the UK and although we were classically known for our expertise in the pub trade, we now support a diverse range of industries that require accountancy services.

Making Tax Digital (MTD) – The new online way of processing tax with HMRC.

From the 1st April all vat registered businesses with a taxable turnover of more than £85000 pa are required to use the MTD service to keep records digitally and to use software to submit vat returns.  We have everything in place to submit vat returns digitally and our clients will all be fully supported in this process. If you have any questions about the changes, please don’t hesitate to get in contact with us.

Changes in the Minimum Wage.

From the 6th April the minimum wage has increased. Under 18’s now receive £4.35 per hour, 18 to 20 years = £6.15, 21 to 24 years = £7.70, Over 25 = £8.21 and apprentices will receive £3.90. Also pension contributions have increased for employers to 3% and employees to 5%.

Business rates set to change too.

This month also sees the end of the £1,000 rebate of business rates from the treasury for pubs under rateable value (RV) £100,000 and a new style reduction for those under RV £51,000 for the next two years.  This offers one third of the rates bill for all independent retail businesses including shops, public houses, restaurants and cafes with a RV under £51,000 giving a reduction up to £8,000 per year until March 2021.  Please check your rates bill to see if you have received the retail discount, if you haven’t, contact your local authority.

Introducing ‘2 PAY People’ our new sister payroll Company.

If you are still struggling with your own payroll, why not give our experienced team a call today? Contact Genna our Payroll Manager on payroll@cmspubaccountancy.co.uk or phone 0121 730 2269 and discuss our flexible packages that are an efficient way to manage your payroll.

April’s top-tips from the 2 VAT ladies.

Spring has well and truly sprung, now’s the time to think about summer. It is a known fact people decide whether to enter your pub within the first 5 seconds… get planting those hanging baskets to make your pub standout!

Have you got your marketing plan ready for St Georges Day on 23rd April? Englishmen can still be seen to mark St George’s Day with quintessentially British traditions, such as Morris Dancing, eating fish and chips or watching a Punch and Judy puppet show. Grasp any opportunity to draw guests into your pub.

Our final top-tip of the month is ALWAYS ensure you put at least 10% of your weekly turnover away towards your vat liability.

Hope you have enjoyed our first Newsletter. Next month’s issue will discuss tips for increasing profits and effective bookkeeping. In the meantime, HAPPY EASTER!! If you need any further advice on any of your accountancy issues, please call us on 0121 730 2269 or alternatively email enquiries@cmspubaccountancy.co.uk.