The BCG Newsletter

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Could you get hundreds of pounds back?

Businesses across Sutton Coldfield which completed P14 and P60 payroll files on-line will soon be taking advantage of a cash back offer from the Inland Revenue. However local payroll specialists Business Connect Group are advising companies that it’s not too late to benefit from the incentive.

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The Budget 2005

Gordon Brown presented his ninth Budget on Wednesday 16 March 2005. At under an hour it certainly fell well short of the longest continuous Budget speech ever. That was delivered by William Gladstone on 18 April 1853 and ran to four hours and 45 minutes!

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More tax on van use warns The Business Connect Group

Huge tax hikes could hit businesses across Sutton Coldfield unless the private use of company vans is restricted to journeys between home and work, following announcements in the last budget, warns Jim Hart at Sutton based accountants Business Connect Group.

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SECURE YOUR BUSINESS

The Business Connect Group is warning small businesses to put security at the top of their agenda.

Threats from computer hackers, fraudsters and even thieves are increasing every day and businesses need to protect themselves.

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Family run businesses advised to keep calm

Following the landmark victory for the Inland Revenue, the Business Connect Group is advising family run businesses not to panic.

The judgement against Arctic Systems Limited, has caused worry for those in business with their spouses, however this does not necessary mean huge tax bills are on their way to every family run company, according to Jim Hart from Business Connect Group.

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Firms Targeted In Mailshot Con

Small businesses in the region are being warned by the Business Connect Group, that they could be targeted by fraudsters using new money laundering rules to push them into handing over cash.

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Good reasons to outsource

Jim Hart of The Business Connect Group, reviews how the American philosophy of using outsource companies, is now becoming part of the UK business thinking.

In the last ten years there has been explosive growth in the use of outsourcing both in the US and the UK.

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NOW THE HOLIDAYS ARE OVER!

It’s that time of year again – when the Inland Revenue bombard the Taxpayer with tales of woe if the dreaded tax return is not filled in correctly and on time. There can be no doubt that if the tax payer wishes to avoid swelling the coffers of the Inland Revenue with unnecessary fines and interest payments, then we must bow to the inevitable and tackle the tax return head-on.

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No Need To Worry Over Tax Returns Says Business Connect Group

Sutton Coldfield based accountants, The Business Connect Group are reassuring small businesses that there is no need for concern following recent rumours that their tax returns may be examined.

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New Income Tax Charge set to affect Inheritance tax planning

A new tax charge which is effective from 6 April 2005, will close the loophole on pre owned gifted assets says Jim Hart at Sutton Coldfield accountancy firm, The Business Connect Group.

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Always Read The Small Print Advises The Business Connect Group

Sutton Coldfield accountants, The Business Connect Group is warning small businesses to read the small print when signing any form of contract or accepting an offer.

The advice comes following the news that a Spanish company, which was closed down for misleading advertising, has now reopened.

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Disability & Discrimination Act (Amendment) Regulations every business is now under the Microscope

The implications to businesses of all sizes of the Disability and Discrimination Act (Amendment) Regulations from October 2004 cannot be ignored, says Jim Hart at The Business Connect Group.

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THE BUSINESS CONNECT GROUP ARE AMONG THE FIRST NEWLY ACCREDITED SAGE ACCOUNTANT RESELLERS IN THE UK

The Business Connect Group, one of the most successful Sage Accountant Resellers in the Midlands has just been accredited by Sage (UK) Ltd as one of the first Sage accredited Accountants in the region. The Sage accreditation programme ensures that Sage Accountant Resellers can provide customers with expert advice on choosing the right business solution for their needs.

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A reminder to business Ratepayers that the Civil Penalty Legislation is now in force

The BCG warns business owners that failure to comply with the new legislation means significant penalties.

The Valuation Office Agency (VOA) now has the power to levy a civil penalty on anyone who fails to provide the information it requires to value properties for Business Rates.

The new legislation was announced in September '03 but the VOA granted business ratepayers a short period to get to understand the new arrangements before the application of penalties.

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Don't Be Taken In By Data Protection Scams

There are various business related scams that have been around for a long time. Many of them are not easy to recognise. An example of this is a 'Final Notice' that has been being sent out from a bogus Data Protection Agency Services stating that the recipient has not submitted Notification to the Information Commissioner in accordance with the Data Protection Act 1998 and that failure to do this will result in a criminal offence and a fine of £5,000. Recipients are urged to complete a form and pay the registration fee of £95.

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How to get paid on time

Jim Hart, from the Business Connect Group, provides advice on how to implement a good credit policy for ensuring that you get paid on time and explains how to deal with excuses for late payment.

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Money Laundering…. are you prepared?

The new Money Laundering Regulations came into effect on 1st March 2004. Many more businesses now fall within the scope of the legislation, and for some this has come as a bit of a shock, explains Jim Hart from the Business Connect Group.

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The Inheritance Tax Trap

Jim Hart, from the Business Connect Group, looks into why booming house prices and increased prosperity are the main reasons ordinary people, not the mega rich, are falling into the Inheritance Tax Trap.

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Dying to write a will

It’s been well noted in the media that some celebrities, such as Barry White, have died without leaving a will, causing a flurry of legal battles between friends and family members. Jim Hart, from the Business Connect Group, explains the importance of making a will, and the implications that can be caused by not having one at all.

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Government Incentive Scheme for Small Business Users

By the year 2010 the Inland Revenue wants all small businesses, with fewer than 50 employees, to submit their P35 and P14 year-end declarations via the Internet. If you do not submit your year-end documents online, you may want to, because small businesses could receive a Government incentive payment worth up to £825, explains Jim Hart at West Midlands accountancy firm The Business Connect Group.

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Marketing Strategies that work

Jim Hart, director at The Business Connect Group, who provides training and business development programmes to all sizes of business, looks at marketing strategies and the need to “sell”.

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The threshold may rise – but you should still consider an audit

The Government has recently announced that the £1m audit threshold for small companies is to be raised to £5.6m, however, many have warned that this increase will bring some significant, and complex, companies into the scope of audit exemption. It is still unclear exactly how the changes are to be implemented, but the Government has announced that the changes will come into force from 30th March, which affects any business with a year-end after this date.

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