Summer 2017 Newsletter


*** AFM Newsletter July17 ***

VAT and Charities

Charities and VAT                       Greater Value at a Lower Cost   Fantastic result today for our newest charity client based in Dundee.  They transferred over to AFM Accountants just last month, to take advantage of substantial cost savings on their Annual Accounts Independent Examination.   As part of our comprehensive Client support service we identified they had overpaid vat 2-3 years ago.  We managed to negotiate a return of a much needed £3,048 for their coffers.   Whilst it’s perhaps disappointing that their previous accountants failed to spot and act on this, it’s not entirely surprising as they fulfilled their […]

Easter Newsletter


Please find our latest newsletter:   1 – Key Budget Changes 2 – Starting up as self employed? 3 – Expenses – can you deal with a visit? 4 – Making Tax Digital (MTD)   Newsletter April 17

Making Tax Digital (MTD) Timetable


Tax – Spring 2017 Budget Update:   The Chancellor made two key announcements regarding MTD; the exemption threshold will be fixed at turnover of £10,000, and businesses with trading income under the VAT threshold won’t have to commence MTD reporting until 2019. All other MTD proposals remain as stated in the Government response to the consultations on 31 January 2017.   The reference to “businesses” includes landlords, and “turnover” includes gross rental income. Businesses will be required to start sending regular “updates” (as HMRC calls them) at least quarterly from the first accounting period that starts on or after:   6 April 2018 – for unincorporated businesses with turnover exceeding […]

Tax Insurance

Taxwise Policy   At AFM Accountants we understand that tax is a little word with big implications. That is why we work hard to give you the best possible advice and strategies to make tax altogether less taxing.   The very thought of an HM Revenue & Customs (HMRC) enquiry can be daunting but, in the event that you are chosen for investigation, we can help you at every step of the process.   We will demonstrate to HMRC that you are paying the correct amount of tax and assist with the investigative procedures. As you will appreciate this all takes time, expense, and flexibility on our behalf. All of […]

Charities and the 3rd Sector – Accounting


Charity Accountants   Charities and the 3rd Sector   Following on from recent successes in the charity and 3rd sector, AFM Chartered Management Accountants are well placed to help your charity next.   We can support you in a number of ways:   Independent Examination of your accounts Support with bookkeeping or accounts preparation Limited company – statutory accounts preparation and filing to Companies House Payroll and pension auto enrolment compliance Business advice   We understand every penny is a prisoner, and for that reason we’ll ensure our fee is at least 20% cheaper than your existing bill.   For a free no obligation meeting, contact me at or […]

Auto-Enrolment Pensions Jan 2017 Update


Auto-Enrolment Pension woes (Jan 2017 Update)   Read on, if you are an employer   By October 2018 all employers will be required to offer workplace pension schemes to eligible workers.   New employers will have a staging date of between 1 May 2017 and 1 February 2018.  You can check your staging date here if you have your PAYE Reference number to hand.   300,000 larger employers have already auto enrolled their staff since 2014.   However 170,000 employers need to auto enrol their staff between January to March 2017.   If you are one of those employers, confused and overwhelmed with conflicting messages, contact AFM Accountants today […]

AFM Newsletter January 2017


AFM Accountants wish all our clients and contacts a happy and prosperous new year.   Like me, I’m sure you have spent some time over the holidays reflecting back on 2016, and also thinking ahead to the challenges and opportunities awaiting you in 2017.   Batteries recharged and ideas buzzing around in your head, 2017 is there for the taking.  Go get it!   In the meantime as you finish off the last few chocolate boxes, hopefully something in this quarters newsletter strikes a chord with you, and as always, if you’d like a chat over future plans, please get in touch, as you know I love to hear about […]

Business Accountants Magazine – Dundee


Business Accountants in Dundee   Please find our our latest Business Accountants magazine – packed full of interesting articles (well maybe for an accountant!)   Good and timely update on Self Assessment Relevant Life insurance anyone? How to be great at Project Management Outsourced payroll – but speak to us first! Cloud accounting software – benefits for all

File your tax return on time


File your tax return on time to avoid a penalty   The deadline for filing the 2015/16 self-assessment online is 31 January 2017. It is important that this deadline is not missed because if you miss it, even by one day, you will have to pay a late filing penalty of £100. The penalty applies irrespective of whether you owe any tax – it is a fine for not filing your tax return online.   Paper returns   The deadline for filing a paper return for 2015/16 has passed – paper returns had to be with HMRC by 31 October 2016. If you have missed this deadline, you can avoid […]