Coleman Communications

Public Relations Consultancy in Neath, South Wales

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WBV WARNS OF ESCALATING AUTO-ENROLMENT FINES

wbvFirms who have yet to sign up staff to a new workplace pension scheme could find themselves hit by fines, independent South Wales chartered accountants WBV Ltd has warned.

The Pensions Regulator has already hit a number of businesses, which have failed to sign staff up to a scheme, with escalating fines.

Under current workplace pension rules, all employers with at least one member of staff have to undertake certain duties, including enrolling those who are eligible into a workplace pension scheme and contributing towards it.

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WBV WARNS OF LATE SELF-ASSESSMENT TAX RETURN PENALTIES

wbvThere are only a few days to go for people submit their self-assessment tax returns or face additional fines, independent chartered accountants WBV Ltd has warned.

From May 1st, people that have yet to send HM Revenue & Customs (HMRC) their returns will incur a five per cent or £300 penalty if their 2013-14 paper self-assessment form is outstanding.

Also, daily penalties of £10 per day for a maximum of 90 days will start from the same date if an online self-assessment return is outstanding.

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WBV WARNS BUSINESSES TO PREPARE FOR CHANGES TO PROMPT PAYMENT DISCOUNTS

wbvBusinesses need to prepare for VAT changes which come into force next week, South Wales independent chartered accountants WBV Ltd has warned.

The Swansea and Neath based firm is reminding companies that the rules surrounding VAT declaration on prompt payment discounts (PPDs) are changing from 1 April 2015.

PPDs offer a reduction to the price of goods and services between a supplier and customer if the customer pays promptly. This is to encourage customers to pay after an invoice has been issued and ahead of the date that the full payment is due.

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ACCOUNTANT LAURA BOWLS HER WAY TO WORLD TITLE

wbvSouth Wales accountant Laura Thomas has bowled over international competition to become the first Welsh winner of the women’s World Indoor Bowls title.

The 29 year-old from Skewen near Neath works for independent chartered accountants WBV Ltd.

She beat off stiff opposition from her English counterpart and reigning champion Katherine Rednall to take the ‘Just Retirement Women’s World Singles Champion’ title at Great Yarmouth.

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HORSEBOX OWNERS FACE HRMC CLAMPDOWN

wbvHorsebox owners are set to be the subject of an HM Revenue & Customs (HMRC) investigation as part of its clampdown on tax evasion, say independent chartered accountants WBV Ltd.

The warning from WBV, which has offices in Neath and Swansea, comes as the January 31 deadline for self-assessment tax returns fast approaches.

HMRC apparently suspects that some farmers and rural business owners are buying horseboxes through their company and either falsely claiming the cost as a business expense for tax purposes, or failing to declare personal use of the horsebox and paying tax on it as a ‘benefit in kind’.

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WBV WARNS SMES TO BE PREPARED FOR 2015

wbvSMEs need to keep an eye out for sudden changes to the economic climate next year that could potentially damage their trading figures, says independent chartered accountants WBV Ltd.

The Office of National Statistics (ONS) has released new figures showing that retail sales volumes rose by 6.4 per cent in 2014; the highest year-on-year increase since May 2004.

According to Neath and Swansea based WBV this culminated in higher than expected results in November where figures rose by 1.6 per cent; significantly more than the 0.4 per cent predicted. This was seen by many as a result of the successful ‘Black Friday’ sales on 28 November.

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WBV HIGHLIGHTS LANDLORD TAX DISCLOSURE OPPORTUNITY

wbvHM Revenue and Customs (HMRC) is giving landlords the chance to come clean over whether they owe tax as part of a new campaign targeting the sector.

It is believed that up to 1.5 million landlords may be underpaying up to £500 million in tax every year.

According to independent chartered accountants WBV Ltd HRMC is offering landlords the opportunity to come forward voluntarily during the campaign, which is expected to run until March 2015.

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Online Traders Face Prosecution Over Non-Disclosed Earnings

wbvOnline traders have been warned they must disclose their earnings to HMRC, following a recent prosecution of an eBay trader.

South Wales independent chartered accountants WBV Ltd is highlighting the issue following the case of a Manchester man who has been jailed for two years for evading £300,000 in tax following an HMRC investigation.

John Woolfenden sold CDs, DVDs and console games via eBay and other auction sites such as Play.com and Playtrade using the name “Globalworldentertainments”, but never declared his self-employed status or sales for tax purposes.

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Accountant Prepares To ‘Race The Sun’ For Children’s Charity

wbvA test of fitness and stamina, the ‘Race the Sun’ is not an event for the fainthearted, but with the prospect of helping children’s charity Action Medical Research accountant Stuart Harries is relishing the challenge.

A keen sportsman, Stuart is a partner at WBV Ltd – one of South Wales’ largest independent firms of chartered accountants.

Starting at sunrise and finishing at sunset on August 30th, the ‘Race the Sun’ challenge through the Lake District involves teams of four people undertaking a 50 mile bike ride, a hike to the summit of Helvellyn (3,116ft) and canoeing a 3km course on Lake Thirlmere.

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WBV Announces New Directors

wbvOne of South Wales’ largest independent firms of chartered accountants, WBV Ltd, has expanded with the announcement of two new directors and an additional member to its payroll team.

The elevation of Richard Chapple and Terrance Jones brings the number of directors at the Neath and Swansea based firm to five.

WBV has also appointed Alison Court as a payroll administrator in its specialist payroll team.

The changes also mark the fourth anniversary of WBV, which was formed by the amalgamation in 2010 of established accountancy firms Watkins Bradfield and H W Vaughan.

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