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Inside This Issue:
Quay Business Forum dates for your diary
2
Business agility with hosted desktop
2
Advice to business owners from business owners
3
Tax Planning Guide 3
Key Dates 3
Brain Teaser 3
Contact us 4
How R&D tax relief can open up a lucrative cash stream
issue October 2018
Issue April 2019
QUAY POINTS
N E W S L E T T E R Haines Watts Wirral and Liverpool
Local Matters, National Strength.
If you have any questions or concerns contact us at Wirral - 0151 649 3900 | Liverpool - 0151 227 3463
www.hwca.com
New tax app from Haines WattsHaines Watts is very pleased to announce
the launch of our new, improved Tax App. We’ve been working hard to ensure we deliver the best product; a simple, modern and up-to-date application for users.
Packed with tons of relevant content; tax tips, key dates plus several slick and easy to use calculators to help calculate costs, we are confident that it will be of great use to Business Owners.
What’s included?• Key tax dates• News
• Tax tips• Mileage calculator• Expenses calculator• Tax calculator• Tax tables• How can it be used?• This tax app is designed for use on
phones and tablets – it can also be viewed on laptops and desktops.
The app is now available! This is a web app and can simply be bookmarked on a phone or tablet
home screen. Follow haineswatts.mytaxapp.co.uk to view the app.
In a tax quandry? You know who to contact.
Our tax advisors get right to the heart of your tax concerns, fast. Whether it’s paying less tax, protecting your profits or planning ahead: get in touch today for our expert help.
R&D tax relief is a Government incentive available to
UK companies to encourage investment in innovation.
Companies can claim against the cost of any qualifying research and development expenditure, lowering their taxable profits and reducing their corporation tax bill.
Many UK manufacturers wrongly believe that Research & Development Tax Credit (R&D) is only available to companies in the science or technology sectors, reserved for companies with labs full of scientists in white coats.
HMRC statistics show that 90% of eligible businesses fail to claim what they’re entitled to.
R&D tax relief is open to a huge range of industries, as long as they can demonstrate efforts to make improvements to products, services or processes, increase efficiency, advance technology or
bring new products to the market.
Manufacturing and engineering are in a particularly strong position to benefit from R&D, especially if they’ve recently introduced new or improved products or processes. For example, if they’re designing new equipment, building and testing prototypes, introducing a new IT infrastructure, computer-aided design tools or streamlining manufacturing processes through automation, they may be eligible for a claim.
Manufacturers could claim for automating workshop orders to improve stock control and minimise human error, or for implementing a new quality control system.
Perhaps you have been developing new ways to optimise production line processes or are adapting an existing product for a new overseas market?
These efforts don’t even need to have been successful! You can actually claim for failed attempts to improve products or processes.
R&D claims can be made retrospectively. You can file a retrospective claim for any R&D activity carried out in the last two years.
This could make a real difference to your business, opening up lucrative cash streams and enabling you to re-invest, maximise growth and realise your long-term business development plan sooner than you think.
Whatever you have been doing, it is worth having a conversation with an R&D tax specialist to see if you’re eligible to claim.
Terry Cheeseman
Haines Watts R&D North West
0161 926 8558 or call your local office:
Liverpool - 0151 227 3463Wirral - 0151 649 3900
Visit our new website:
T: 07582 062 257 | E: alan@solutionaid.
Join us at the Quay Business Forum Free networking, great topics and an amazing line-up of speakers for 2019
2
Business agility with hosted desktops Access your systems wherever you may be.
Hosted desktop is one of the latest IT buzz-phrases – but what does
this really mean for your business? Put simply, a hosted desktop is a cloud-based service that provides a virtual version of your computer desktop, giving you access to all your regular applications and data whenever and wherever you need them.
A hosted desktop simplifies remote working procedures, so your staff can easily log-on to their own desktop setup with a secure wifi connection wherever they are working - at
home, another office or client site. Productivity and flexibility are increased as employees are no longer restricted to a single office desk.
Collaboration is enhanced as all users work from the same systems, wherever they are located. If a business has multiple sites, hosted desktops will streamline and centralise data, giving everyone access to the same information at all times.
A significant business benefit is the ease on cashflow. Hosted desktop is subscription-based, so there’s no need for capital investment. The subscription model also allows for rapid scaling, so adding more users to the system is
quick and easy. Security is increased by storing business data off-site in a secure data centre, which stores, manages and backs-up your data, so that if you experience a local outage or incident, you can get back to business with minimal disruption.
Overall, the benefits of using hosted desktops will give you the flexibility to scale up your business with the latest, secure technology that can be applied to all of your employees’ desktops.
For more information visitwww.hwt.co.uk or contact us on 0845 504 8989.
Sponsored by:
Mark TunstallDirector - HW Technology
www.hwca.com
The Quay Business Forum is a breakfast event for entrepreneurs and business
people.
Come along to network and benefit from regular topical business presentations and take part in forum discussions, share and gain vital information to help you grow and develop your business.
The event is held at the Maritime Knowledge Hub, free to attend but by reservation only.
For more information or to reserve your place, go to www.quaybusinessforum.co.uk.Alternatively call Pam Knight on 0151 649 3900. There is plenty of free onsite parking available.
Why not book ahead for the dates listed below, all registration links are live.
April 17th - Speaker: Ambrose Reynolds – St Luke’s Bombed Out Church
May 15th Speaker: Bill Addy – Liverpool BID Company
June 12thSpeaker: Barbara Price – Williamson Tunnels Heritage Centre
Russell Silverman leaves us after a
long and successful career.
Russell has been in accountancy for 40 years, he qualified in 1982 having trained
with an international firm. He then joined a company called GLF, a large independent North West firm with 5 offices and was made a Partner in 1987. GLF split in 1999 and Russell's office merged with Haines Watts.
The Liverpool office is now 3 times the size it was in 1999 through organic growth and acquisitions, Haines Watts Wirral are also part of the family now .
Russell plans to undertake consultancy work for Haines Watts and other businesses and indulge his interests in football, a season ticket holder for Liverpool Football Club since 1971. He also regularly attends rock concerts and the occasional music festival, and is comforted by the fact that a number of his favourite bands are older than him and still performing!
We would also like to wish all the very best to Jean Lowry and Carol O'Donnell who retired from the Wirral office earlier this year.
We were sad to say goodbye to John, who left the company in March. He will be missed by all at Haines Watts Wirral, especially our
payroll team, he has been a tremendous help. Good luck John.
Finally, welcome Faye, our new receptionist in Liverpool, who joined us in February and Christian who recently joined our audit team in April.
A boy has as many sisters as brothers, but each sister has only half as many sisters as brothers.
How many brothers and sisters are there in the family?
3
Brain teaser For our FREE resources, all
the latest news, opinions
and event listings, please
visit our website.
IssueApril2019
www.hwca.com
Here are the important dates for the 2019/20 tax year so you can start planning now.
Russell Silverman
Key dates for your diary
Team news
Advice to business owners from business owners
At Haines Watts we like to understand what makes a Business owner tick, so we asked established business owners across the UK ; if they could step back 10 years, what advice would they give their younger self? The answers were fascinating.
The findings have been turned into a two minute film called "This is your business". Watch now - www.hwca.com/videos/this-is-your-business.
Get straight to the point with our Year End Tax Planning Guide
If you haven’t noticed, there’s a critical deadline this April. It’s the end of the tax year, and you’ll need to have your tax plans in place.
There isn’t the time to wade through pages of tax rules, so take a speed read, instead, through our Year End Tax Planning Guide. It quickly and clearly explains the smartest routes to reduce your bill, so you can have your tax-saving strategy ready before the new year kicks off. Visit - www.hwca.com/publications/year-end-tax-planning-18-19.
Faye Molyneux John AthertonChristian Hignett
April 2019:1st - Businesses will need to keep digital records and submit VAT returns digitally as part of the Making Tax Digital scheme.
5th - The tax year 2018/19 ends.
6th - The tax year 2019/20 begins.Time to gather detailed documents for your 2018/19 tax return if you’re self-employed or have income from property in the year ended 5 April 2019.
May 2019:31st - Last date to give employees a form P60 for 2018/19.
July 2019:6th - Deadline for submitting P11D forms31st - Deadline for second payment on account for tax year ending 5 April 2019.
October 2019:5th - Deadline to register with the HMRC
if you became self-employed or started receiving income from property. You should submit a form CWF1 for self-employment or form SA1 for non-self-employed income to HMRC.31st - Deadline for paper self-assessment returns for 2018/19 tax year.
Answer on page 4
Priory Practice Limited Registered in England No. 3275171 Reg. Office: 1 Abbots Quay, Monks Ferry, Birkenhead CH41 5LH. Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Priory Financial Management Limited is authorised and regulated by the Financial Conduct 44
We are a top 15 firm of chartered accountants with over 80 years of experience in advising business owners.
We offer a braod range of accountancy and business advisory services with more than 60 offices across the UK and more than 35,000 business owner clients.
Connect with us
Liverpool:Liverpool:11-13 Victoria StreetLiverpoolL2 5QQT: 0151 227 3463E: [email protected]
Wirral:1 Abbots QuayMonks FerryBirkenheadWirralT: 0151 649 3900E: [email protected]
Brainteaser - and the answer is…Four brothers and three sisters.
www.hwca.com
