Newsletter December 2009

Merry Christmas from Cassons

We would like to send you our best wishes for a very happy Christmas from your friends at Cassons.  Please click here to see our Christmas card.

Please note our opening and closing times over Christmas 2009.

Our Manchester office will be closed from 5:30pm on Tuesday 22 December but phone calls will be taken on the morning of Wednesday 23December.

Our Lancashire office will be closed from 12:00 noon on Wednesday 23 December.

Both offices reopen on Monday 4 January 2010.

Cassons named Accountancy Firm of the Year 2009

We are delighted to announce that we were named Accountancy Firm of the Year 2009 by the North West Society of Chartered Accountants! The award was presented on 26 November 2009 at the annual awards dinner at Stanley House Hotel in Salmesbury which was attended by fellow accountants and other professionals from around the North West.

The award for Accountancy Firm of the Year focused on the nominees’ unique way of doing business, their ability to respond to challenging times and, most importantly, their customer service record with particular emphasis on how they have been actively helping their clients through the recent recession.

Napthens Solicitors sponsored the category and Keith Melling, partner at the firm, presented the award on the night.

He said: “The winning firm, Cassons, has been innovative in diversifying its offerings during these difficult economic times; they have continued to invest in their organisation and their people and above all showed very clear evidence of how they have helped their clients through the recession.”

Les Nutter, managing partner at Cassons, said: “We’re absolutely thrilled to have won this highly respected award. It is testament to the hard work and care that every single person in our firm strives to give our clients, every day. We are particularly delighted that the judges noted our commitment to growing our business and our people which is something we care passionately about.”

There were celebrations in our offices the following morning when the award was announced to all of our staff. For once the “no alcohol” rule was pushed to one side as we enjoyed a breakfast of champagne and Danish pastries.

We’d like to thank especially those clients of the firm who were invited to give a testimonial for our submission for the award. Without doubt their kind words influenced the judges’ decision. We thank all of our clients and friends for their unfailing support.

Implications for barristers of the changes in the VAT rate

As a barrister you are likely to follow the arrangements whereby VAT invoices are raised only when monies are actually received.  By ensuring that fee notes are not ‘VAT invoices’, you can defer the tax point for the VAT until monies are received by you.

Generally fees received on or after 1 January 2010 will be liable to VAT at 17.5%.  However if you receive fees after 1 January for cases completed before that date you can declare VAT at 15%.

Similarly, if a fee received after 1 January 2010 includes services partly performed while the 15% VAT rate applied, you can apportion your fees by charging VAT at 15% on the work done up to 31 December 2009 and 17.5% on the remainder. You will have to be able to demonstrate that the apportionment between the two amounts fairly reflects the work carried out in each period. 

The Pre-Budget Report 2009

In his final Pre-Budget Report before the next general election, Alistair Darling conceded that the economy in 2009 had shrunk by more than forecast but predicted a return to growth in 2010. To boost government income, national insurance contributions are to rise by a further 0.5 per cent as from April 2011. Plans for spending cuts include a 1 per cent public sector pay settlement cap.

For a detailed summary of the Pre-Budget Report please click here.