News
Headlines
>>09 July 2010 - Braemar Free Draw - Winner - June 2010
>>26 June 2010 - Braemar Tax Funding Facility
>>10 June 2010 - HM Revenue & Customs - New Penalty Regime for Late Tax Returns
>>07 June 2010 - HM Revenue & Customs - Future Dates for your Diary
>>04 June 2010 - Braemar Free Draw - Winner - May 2010
>>03 June 2010 - General Dental Council
>>19 May 2010 - Dental Professionals - Is your Registered Address up to date?
>>26 April 2010 - Special Care Dentistry List
>>26 March 2010 - Annual Investment Allowance (AIA) - Increase of threshold
>>01 February 2010 - New Notice Accounts from Close Savings
>>20 November 2009 - Close Treasury
>>30 October 2009 - Consumer Credit Licence Application
>>15 September 2009 - New Anti - Money Laundering Registration from the OFT
Articles
Braemar Free Draw - Winner - June 2010
Selected from the new registered names on our News Wire for the month of June our winner is:-
Dr H Haghshenas
Moorland Court Dental Practice
23 Poole Road
Bournemouth
Dorset
BH4 9DF
Dr Haghshenas has opted to receive M&S vouchers.
.
Braemar Tax Funding Facility
Tax due date 31st July 2010
If you are a self-employed practitioner, you will be required to make the following income tax payment by 31st July:-
• The second "payment on account" for tax year 2009 - 2010
HM Revenue & Customs will charge you daily interest should you miss this payment deadline. If you still have unpaid tax from January's deadline, then a further 5% surcharge may be applied to that outstanding balance.
Different rules and timings may apply to Corporation Tax, however late payments will also attract interest charges.
Braemar can assist with our popular tax funding facility to ease the impact on practice cash flow.
The benefits can be summarised as follows:-
• Simple to arrange
• Fixed monthly payments
• Repayable over 6 months to 5 years as required
• Free CHAPS transfer to your bank account on completion.
Should you be planning capital expenditure in the near future, the correct finance facility can substantially reduce next year's tax liability. We will be happy to discuss this in greater detail.
Please contact us on 01563 852100 for further details regarding our tax funding facility. Alternatively email info@braemarfinance.co.uk
HM Revenue & Customs - New Penalty Regime for Late Tax Returns
.
Up to 2008/09, penalties applied by the HM Revenue & Customs for late Tax Returns were geared to whether or not the actual tax due had been paid. If you had not filed your Tax Return either via your accountant or directly to HM Revenue & Customs by the deadline of 31 January 2010, a penalty could be avoided by actually paying the tax due.
For the 2009/10 Tax Returns (which are due to be filed by 31st January 2011) the penalty will now be geared to the date the Tax Return is filed with the HM Revenue & Customs even if the relevant tax has been paid.
If you are one of those tax payers who doesn't get round to sending the necessary information directly to the HM Revenue & Customs or to your accountant to allow them to complete the Tax Return until January, then this change in the penalty rules may well catch you out!
For further information contact HM Revenue & Customs on 0845 600 4508 or visit their website - www.hmrc.gov.uk
To assist you meet any tax liability we can provide our popular tax loan facility, which can be used to make the necessary payment to the HM Revenue & Customs, allowing you to spread the cost over a period of time.
To speak to a Braemar Finance expert call us on 01563 852100 where we will be happy to assist in this matter or any other finance need that you may have. Alternatively email us on info@braemarfinance.co.uk
Finance approval is subject to status
.
HM Revenue & Customs - Future Dates for your Diary
31st July 2010
• 2nd payment on account of Income Tax for 2009/10
• 2nd 5% surcharge on balance of any 2008/09 tax due 31 January 2010 still unpaid
31st January 2011
• Deadline for Tax Return for 2009/10 to be submitted to HM Revenue & Customs
• Payment of balance of Income Tax for 2009/10
• Payment of Capital Gains Tax for 2009/10
• 1st Payment on account of Income Tax for 2010/11 (normally half of the total 2009/10 liability)
28th February 2011
• 5% surcharge on balance of 2009/10 tax due January 2011 still unpaid
5th April 2011
• End of 2010/11 tax year
For further information regarding your tax liabilities visit the HMRC web site http://www.hmrc.gov.uk or call the HM Revenue & Customs on 0845 600 4508
To assist you in meeting any tax liability, we can provide our popular tax loan facility, which can be used to make the necessary payment to the HM Revenue & Customs, allowing you to spread the cost over a period of time.
To speak to a Braemar Finance expert call us on 01563 852100 where we will be happy to assist in this matter or any other finance need that you may have. Alternatively email us on info@braemarfinance.co.uk
Finance approval is subject to status
Braemar Free Draw - Winner - May 2010
Our winner opted for M & S Vouchers
.
Mike & Christine Ellis - Dental Profession
Blue Waters, Hennapyn Road, Torquay, Devon TQ2 6QL
"Braemar as usual produced a prompt and efficient service and we are delighted to win £100 of M&S vouchers!!"
Christine Ellis
General Dental Council
Annual Retention Fee Deadline
Braemar Finance wish to remind all Dental Care Professionals that they are required to make their payment to The General Dental Council for the Annual Retention Fee (ARF) by the 31st July, in order to remain on the Register and continue to work legally in the UK.
Dental Care Professionals (DCP's) have to pay their fee by 31st July every year.
• The ARF is £96 for dental nurses, dental technicians, dental therapists, dental hygienists, clinical dental technicians and orthodontic therapists.
GDC have various payment options available. Details of which can be found on their website. Please note that no payment can be processed after the deadline date.
For further details on how to make your payment to the GDC visit
www.eGDC-uk.org
Alternatively you can contact the GDC on 0800 177 7965 between 9am and 5pm Monday to Friday.
.
Dental Professionals - Is your Registered Address up to date?
The General Dental Council is calling on all dental professionals to check that their registered address is up to date.
This is a requirement of registration and helps ensure that registrants don't miss out on important General Dental Council (GDC) information, according to the GDC.
When registrants move from their registered address, whether home or work, the GCC should be on the check-list of organisations they need to contact.
The GDC regularly send things out by post - for example the Annual Retention Fee information, Annual Practising Certificates and The Gazette. If these haven't been arriving, it's worth making sure that the GDC have your correct contact details.
The registered address can be of a home, a practice or even a Post Office Box number as long as it is somewhere the GDC can get in touch, remember however, this address will be published on the GDC website.
By law, Dental professionals' registered details (full name, registered address, qualifications and date of first registration) are all public information.
You can check your details are right by logging on to www.GDC-uk.org and searching the registers using your registration number.
.
Special Care Dentistry List
September deadline
The General Dental Council (GDC) would like to remind dentists that there are now only six months until the end of the "transitional period" for joining the Special Care Dentistry list.
The list first opened on 1 October 2008 and the transitional period will close on 30 September 2010. After this date, UK applicants will need to hold a Certificate of Completion in Specialist Training to join the list. Registered dentists can currently apply to join the list on the basis of the relevant specialist training, qualifications and experience they have acquired to date.
Special care dentistry is concerned with improving the oral health of individuals and groups in society who have a physical, sensory, intellectual, mental, medical, emotional or social impairment or disability, or a combination of these. In particular, this area of dentistry focuses on adults and adolescents requiring special care.
Since the list opened in October 2008, 119 dentists have joined it. But other appropriately trained, qualified and experienced dentists who wish to join the list are encouraged to submit their applications as soon as possible to avoid unnecessary delays or missing the deadline of the transitional period on 30 September.
Dentists wishing to join the list can download an application pack from the GDC website www.gdc-uk.org or contact the GDC registration team by email assessments@gdc-uk.org alternatively call them on 020 7344 3741.
.
Annual Investment Allowance (AIA) - Increase of threshold
HM Revenue & Customs
The Annual Investment Allowance (AIA) allows businesses, regardless of size, to reduce their taxable profits by the full amount of their annual capital expenditure on most plant and machinery (apart from cars), up to a maximum amount of £50,000 each year.
In order to provide further cash flow support and an incentive to increase business investment, the Government will increase the maximum amount of the AIA to £100,000 from 1 April 2010 (for corporation tax) or 6 April 2010 (for income tax). Capital expenditure above this threshold will continue to be eligible for standard capital allowances against taxable profits.
For further information visit the HMRC website below
http://www.hmrc.gov.uk/budget2010/businesses.htm#aia
As with any Government scheme, it is complex, and your Braemar Area Manager is available to discuss your individual circumstances in more detail, so please contact us on 01563 852100, alternatively email info@braemarfinance.co.uk
.
New Notice Accounts from Close Savings
Braemar Finance as part of Close Brothers Group plc are delighted to announce that from Monday 1st February, Close Brothers have announced new notice accounts paying competitive rates of interest will be available:
A choice of two new notice deposit accounts:
90 day notice account at 2.85% A.E.R. (2.82% Gross P.A.)
120 day notice account at 2.95% A.E.R. (2.92% Gross P.A.)
Where rates are quoted Gross P.A. this means Gross Per Annum before the deduction of income tax. A.E.R. stands for Annual Equivalent Rate and illustrates the annual rate of return assuming interest is paid and compounded once each year.
To find out more information about the exciting new product offers, please visit website www.closesavings.co.uk/notice where you can download an application form and customer agreement. Terms and conditions apply.
Close Treasury
As Part of the Close Brothers Group plc, Braemar wish to allow all visitors to our website the opportunity to take advantage of the offers that Close Treasury make available for both business and personal purposes. These change on a regular basis as the offers vary depending on the altering economic environment.
To see the latest offers please follow the links below.
www.closetreasury.co.uk - Corporate and Business deposits
www.closesavings.co.uk - Retail deposits
.
Consumer Credit Licence Application
Applicable fees
If you are considering introducing our 0% Patient Finance Facility within your practice, you will need to apply for a Consumer Credit Licence, from The Office of Fair Trading.
Braemar will guide you through the required steps, resulting in you being authorised to pass credit applications to us on behalf of your patients. By providing this service, not only will you enhance your practice cash flow, you will be offering an additional value added service to your patients.
The Office of Fair Trading will currently charge you the following:
Sole Trader £480.00
Partnership / Ltd Company £970.00
The Consumer Credit Act 1974 requires most businesses that offer credit or lend money to consumers to be licensed by the OFT (Office of Fair Trading). This includes where credit is arranged to finance the purchase of goods or services. Licensing arrangements may also be required by businesses that offer goods for hire or leasing. Trading without a licensing arrangement is a criminal offence and can result in a fine and / or imprisonment.
To find out more or to apply on line for a licence, please follow the link below.
http://www.oft.gov.uk/advice_and_resources/resource_base/credit-licence/
Alternatively if you wish to speak to one of the Braemar Team
call us on 01563 852100.
.
New Anti - Money Laundering Registration from the OFT
Is it required?
The majority of Braemar Practices who provide 0% Patient Finance for their patients do not require to register their business for Anti-Money Laundering.
However, if you offer instalment plans to your patients directly, of more than 4 instalments, then you will be required to register for Anti Money Laundering, which incurs an additional fee from the Office of Fair Trading (OFT) of £115 for this year per business premises.
The registration form along with guidance is available on the Office of Fair Trading website at www.oft.gov.uk/amlregistration
If you currently have category "A" on your CCL and no longer require it you can request to have it removed online. There is a one off fee of £80 charged by the Office of Fair Trading for this transaction.
http://www.oft.gov.uk/advice_and_resources/resource_base/credit-licence/apply-online
Alternatively if you wish to discuss your licence with one of the Braemar team please call us on 01563 852100.
.
