Monthly Archives: January 2016

January Nearly Over!

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Drummond Laurie Chartered AccountantsEveryone at Drummond Laurie will be breathing a huge sigh of relief this weekend with the passing of the 2014/15 tax deadline on 31 January 2016. We come back from our festive break and get our heads down for the busiest month of the year, to ensure our clients have their tax returns filed on time.

I’m sure you are always fully up to date with your tax compliance, but HMRC are used to hearing some strange excuses from the public for filing their tax returns late. Unsurprisingly, none of these reasons led to a successful appeal……….

tax4

My pet dog ate my tax return…and all the reminders.
I was up a mountain, and couldn’t find a post box or get an internet signal.
tax3I fell in with the wrong crowd.
I’ve been travelling the world, trying to escape from a foreign intelligence agency.
Barack Obama is in charge of my finances.
A work colleague borrowed my tax return to photocopy it and didn’t give it back.
My girlfriend’s pregnant.
I live in a camper van in a supermarket car park.
I was in Australia.

 

tax1What is a ‘reasonable excuse’?

If you miss the deadline you can appeal to HMRC against some penalties as long as you have a “reasonable excuse” for filing or paying late.

HMRC say that this must be something unexpected or outside your control such as your partner dying shortly before the tax return or payment deadline, having an unexpected stay in hospital that prevented you from dealing with your tax affairs, or your computer failing when you were preparing your online return. They also say service issues with HMRC’s website, a serious fire or postal delays may also be acceptable reasons. They are unlikely to class bounced cheques, insufficient funds, difficulty using the online system or the lack of a reminder letter as reasonable excuses.

HMRC issues automatic fixed penalties, interest and surcharges on late returns and overdue tax balances.

For more information on our tax and other services please get in touch in the first instance via email to adviser@drummondlaurie.co.uk.

A View from one of Our Clients

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Drummond Laurie Chartered Accountants

A local business, contacted us early last year with an urgent requirement for support on a regular basis for one of their companies.  Don’t take our word for it, here’s what our client said!

“I had no prior experience of Drummond Laurie or their team until earlier this year when we had a need for some help with the production of monthly management accounts for one of our group companies.  Our reporting deadlines are very tight, however, Drummond Laurie have been able to not only meet these every month but in addition they have been able to make the whole process more efficient, which has reduced the time taken and our costs too.  In my experience to date, the team at Drummond Laurie are professional and efficient in what they do and have also been friendly and easy to get along with.  I would not hesitate to recommend them to any similar business in need of on-going accounting services.”

For more information on this or any other of our services please contact Gillian Niven on 01324 441280or you can email gillian.niven@drummondlaurie.co.uk.

 

 

 

A New Arrival

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Drummond Laurie Chartered AccountantsMichelle jan16Congratulations to Michelle and David Collins on the birth of their son Charlie Edward on 20th December 2015.

He weighed in at a very healthy 7lb 12.5oz.

We think he looks absolutely gorgeous.  Enjoy your time off work Michelle but pop in soon to visit!

 

Important Information – Changes to Internet Security affecting BACS

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Drummond Laurie Chartered AccountantsAs you may or may not be aware, there are changes being made by the internet community with regards to accessing secure websites.

While these changes will affect all secure websites in some form by 1st January 2017, if you use BACS, either to pay your suppliers or collect money from your customers, then you may need to take action before 1st June 2016 and we would advise taking action earlier than this to ensure continued access to the BACS website.

bacsThe changes being made by BACS will generally only affect your ability to download reports from the BACS website, and will NOT normally stop you from sending payments by BACS via Drummond Laurie or any other BACS bureau.

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New Year, New Manager!

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Drummond Laurie Chartered AccountantsAfter a brilliant 2015 for Drummond Laurie and our staff, we start 2016 with more good news, as we are delighted to announce the promotion of David Anderson to manager!   David has been an integral part of the Drummond Laurie team since day 1 and we were thrilled to reward David’s hard work and dedication with the progression he deserves.

Congratulations to David on his achievements to date and as a valuable member of our team we wish David a long and successful career with Drummond Laurie. david a blog

We are also taking this opportunity to start a new ongoing blog we are calling “DL Q&A”, where we use the blog as an opportunity to get to know our staff on a more personal basis with some short, rapid-fire questions and so, who better to start with than David.

Where were you born?

Stirling Royal Infirmary.

Are you married / Do you have a partner?

Yes, I have been married to Heather for almost 3 years and we have a son, James, who turned 1 before Christmas.

If so, where did you meet your partner?

We were set up on a blind date by friends because, as I was an accountant and Heather was a maths teacher, they thought we would at least have numbers in common!  The rest is history!

Tell us something we might not know about you.

I am a big fan of American football and am going to see my favourite team, the Indianapolis Colts, this October in London.

Where is your favourite place in the World?

I have been lucky enough to do a fair amount of traveling and would have to say Whistler in Canada was fantastic.  It is laid back, scenic, with lots to do.

If you could invite anyone to dinner, who would it be?

I was recently at an event where Sir Alex Ferguson was speaking and he seems like the kind of person that has lots of great stories from the football world and beyond but you would also be able to learn a lot from.

david a blog2If you won the lottery, what would you buy first?

I have always wanted to convert my garage into a golf lounge and so I think that would be the type of thing that would take lottery money to achieve!

Finally, share with us one of your favourite pictures.

We did a photo shoot just before Christmas and this was one of my favourite pictures from this of my son and I (my wife is to thank for the matching outfits!)

Happy New Year!

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Drummond Laurie Chartered AccountantsHappy New Year from us all at Drummond Laurie and best wishes for a healthy, prosperous and peaceful 2016 to everyone.  Whilst we have seen the signs of economic recovery over the last two years, albeit somewhat diluted in Scotland, this has been offset by much political uncertainty.  Firstly with the Independence Referendum in 2014 and last year the General Election.  One wish for 2016 is that the ongoing debate around EU membership does not have a similar negative impact on our recovery.  What we need more than anything is a period of calm and stability where businesses can build up their confidence safe in the knowledge that the major landscapes are not shifting around them.

Going into a New Year we would encourage all business owners to plan ahead, set your budgets and be clear about where you want to take your business over the next 12 months and beyond.  Identify the major risks which your business faces at this time and take steps wherever possible to mitigate these. Often these risks are ones of over-reliance, whether on a small number of customers, suppliers, staff or products.

2016 New YearThere is very rarely a magic button to press which will transform a business and almost always it is a series of very small changes which, cumulatively, take you to the next level.  Over the years, experience has shown us that the businesses which are most successful are those which embrace change and constantly challenge their existing practices and in doing so, identify these small changes.

Make it your New Year resolution to challenge the way your business operates and be prepared to change long established practices.  Don’t be left standing as your competitors surge forwards!

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