MARTIN LEVIN & CO    
Taxation Practitioners Accountants & Auditors   309 Chigwell Road
Woodford Green
Essex
IG8 8PL
Office Hours: 10am to 5pm Mon-Fri
E-Mail:
     MLevinABC@Aol.com
Website:  MartinLevinABC.co.uk
   

Tel 0203 345 0192


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NEWSLETTER FOR AUTUMN 2000

 

Visit the WebSite - launched September 2000

 

Filing of self-assessment tax returns by September 30 was achieved successfully for most clients for the fourth successive year.

 

Indeed this year we even managed to lodge the majority by June. That way most clients were aware of the July 31 instalment, and could budget for their future tax bills. The January "bunching" of liabilities is in point here.

 

Clients are thanked for their input on this. It has been a pleasure to be in a position to help clients so completely and quickly. It frees both sides to attend to other matters, and means that most clients have benefited by economical fees.

 

We note that there is still a small number of "defaulting" clients. Without up to date Financial Accounts, as well as Certificates of Interest Received (and TRIG Forms), we are unable to help those clients who fail to keep their twice-yearly requests from our firm.

 

Revenue investigations - We have frequent contact with many professional firms. More evidence emerged in the last twelve months regarding a higher quota of Random Audits started by the Revenue. The time factor is expensive. Fortunately, those clients who have provided us with correct information, and at the earliest time, have come out unscathed. However, this year in preparing Tax Returns we did notice that although we highlighted that we required certificates of interest received, in preparing Tax Returns we did have to ask more than once for this essential documentation, thus adding extra time costs, and so extra fees, for preparing Tax Returns. May we remind you that the checklists are provided to help you to help us, and so keep down costs? Please use the checklists, for Financial Accounts preparation as well. Our Notes/Observations are also provided to help you to help us. Please read and action them. A few clients had these same points repeated. Our colleagues expressed the same view that client co-operation did go down this year. We have also noted that like our colleagues, it has taken longer to "sign off" Financial Accounts over the last few months, due largely to absence of information asked for on our Checklists.

 

National Insurance Now that the Revenue has taken over this, those self-employed persons (who pay their tax every six months) are reminded that Class 2 National Insurance, which is a flat rate of 2.00pw as from April 2000, (formerly 6.55pw) should be paid. This is done through the bank account either monthly or quarterly. We are reliably informed that the Revenue will be checking up on this, as many may have failed to pay Class TWO. In fact the self-employed pay Class FOUR, and this is combined with the Income Tax that they pay every six months.

 

Incoming Post - The Royal Mail has for many years asked for a return address on the rear of envelopes. We would appreciate it if you could put at least your name on the reverse of the incoming envelope.

 

Telephone calls - (office hours, please) again please leave your telephone number if, when you call and get the answering machine. Often the machine is on when a client is being seen, at our premises (or theirs). Any client who hangs up without leaving a message, but keeps ringing back several times the same day, uses up the answering machine tape and when full, no one else can leave a message.

 

Also increasingly, activities away from the office mean that we have to ring in for messages. This has occurred regularly lately.

 

The practice often answers calls on Tax Advice on a premium rate telephone service, and so call waiting is often used. Please be patient if you do hear a message that you are on "call waiting".

 

*** Office closure - please note this will occur from 13.11.2000 to 04.12.2000 ***

 

The media has again picked out our practice for consultancy work. This year we were involved in a Budget Night observation, and a trial programme on small business and tax - both for TalkSport (formerly TalkRadio). This shows how long hours are spent in keeping up to date in order to provide you with a top class service. A comparison with other professionals has received the response: "you do all that for that low fee?" Yes, and it is with your help and co-operation that we intend to keep it that way. Can we count on your support?