From 1st April 2011, it will be mandatory to submit and pay your Corporation Tax returns online. If you do not have Internet or telephone banking and don’t like paying by debit or credit card over the Internet it is likely that the only way to pay will be by signing a direct debit allowing HM Revenue and Customs to draw what their computer says are the correct amounts from your bank account!

If you need advice on paying online, please contact Joanna Williams jo@a4gsolutions.co.uk.

The current ‘environmentally friendly’ trend of using online bank statements rather than keeping paper copies can have its drawbacks. Access to online information is not available indefinitely, and if your accounts and tax affairs are not downloaded and stored correctly and you get a tax enquiry the consequences could include large bank charges obtaining old statements or penalties from the HM Revenue and Customs for failure to keep proper records.

If you like further advice on this, contact our tax manager Janice@a4gsolutions.co.uk who will be happy to advise you.

We recently ran a seminar entitled ‘The Ten Vital Ingredients for a Successful New or Emerging Business’ detailing the crucial issues that need to be addressed in the first few years of trading. If you missed the seminar you can view it by clicking on: http://www.a4gsolutions.co.uk/seminars/Malcolm/part1/player.html.

Details of future seminars can be found at www.a4gsolutions.co.uk/weekly-seminars.

Free up your time to concentrate on more valuable aspects of your business by documenting some of the key processes that exist within your operation. Documented procedures including checklists, procedure manuals and even laminated cards will reduce the number of issues you have to deal with when you return to your business after visiting customers or taking holiday.