A Joseph & Joseph
Chartered Certified Accountants
Business and Tax Advisers 
Registered Auditors
 

                                

   Our Business...

 

 

 

 

    

  
Monthly Noticeboard - Business, Tax & Charity Updates and Advice
 
Stakeholder Pension for your children - The government is encouraging us to save more for retirement. A maximum net contribution of £2808 per annum is permissible. The Chancellor tops this up to £3600 for every child. Tax benefit, £792 per year, for the basic income tax payer!
 
Child Benefit could be your child's pension - The Chancellor currently pays £15.50 for the eldest child and £10.35 for additional children until they finish school. If you invest £15.50 a week into a stakeholder fund of  £57,5691 if he or she retired at 60. With current annuity rates, this would give an income of about £34,541 a year! Parents could not draw from funds so invested.
 
Some of the poorest financial services to avoid!!!!
  1. Baby bonds - Government restricts investment to £25 monthly or £270 a year. High charges of more than 50% and inflexible terms make them a very poor deal!
  2. Endowment mortgages - High charges, poor surrender values and restrictive conditions make them one of the worst investments in the market.
  3. Low interest rate mortgages - Low interest rate mortgages can prove a false economy. A common way borrowers are caught out is by inclusion of redemption penalties that extend beyond the term of a fixed, discounted or capped deal.
  4. Store Cards - Most leading high street stores offer credit. Store cards are however are one of the most expensive ways to borrow money. Avoid them!!
Tax Calendar 2002/2003
April 5 2002 End of tax year  2001/2002.
April 6 2002 Beginning of tax year 2003/2003.
April 17 2002 Budget 2002.
May 19 2002 Employer's end of year Returns P35 etc due at the Tax Office.
July 6 2002 Deadline for submission of forms P11D.
July 31 2002 Second instalment of 2001/2002 income tax & class 4 NIC due.
September 30 2002 Deadline for filing 2002 Tax Returns for Revenue to 
                                calculate tax.
January 31 2002 Final deadline for filing 2002 Tax Returns.
 
We recommend that you talk to us before entering into transactions that might affect your personal and business tax position. We will gladly welcome your enquiries.
 
Contact: 2nd Floor
123 Fonthill Road
London N4 3HH
Tel: +44(0)20 7561 9955
E-mail: A Joseph Associates