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The Positive Accountant Vol 1 Ed 40



And so we enter our third set of three weeks on lockdown.  


Which, to be honest, is a very British form of lockdown.  Sort of left up to each of us to determine our own rules based loosely on guidelines.


And the really bizarre thing is that rules differ depending on where you are.  If you are in Gloucestershire, it is fine to travel as far as you like for a walk on the beach.  But make sure you go south to Devon (which is OK) not west to Wales - which will probably see you stopped at the border.


As I said, a very British sort of lockdown.  All a bit odd really.


I'm particularly struggling with the idea of two week quarantine after a trip abroad (which I assume, for this purpose, isn't Norfolk).  


This time last year I was enjoying the occasional day hopping across the channel to Le Touquet for lunch, back to walk the dogs before dark.  Adding two weeks solitary confinement onto that seems inconceivable.


Let's hope that the scientific minds immeasurably larger than mine can solve this problem pretty soon !


Remember, if you have 'missed' any previous editions, they can be found at


http://www.positiveaccountant.com



What are my positives today:-:


1. We don't have Donald Trump as our PM .

Say what you like about Boris' performance the last couple of days, at no point did I hear him talk about putting UV light inside the body, (through precisely which orifice Mr President ?  The one you speak out of ?  Won't it be uncomfortable when sitting down ?)


Nor did I hear any recommendations about injecting disinfectant...


So that's positive, right ?


2.  Our Chinese Takeaway is open

Readers with long memories will remember Vol 1 Ed 3 that told of our Chinese takeaway (87 seconds from our front door) being closed.


(Just to clarify, when I say 'our Chinese Takeaway' I don't mean one that we've bought.  Although truth be told, looking at how much we've spent there over the years we probably could ...)


Anyway, back to the point - It's reopened - and good as ever !


3. I completed the Iron Man Challenge

Our problem has been that recently Debbie and I have both been working more hours than is healthy.  The laundry pile was becoming life threatening (and more worryingly, PPE (aka underwear) stocks were getting dangerously low)


So the Iron Man Challenge began.  After cooking (toast), cleaning (putting the plate in the dishwasher) we spent a romantic Sunday ironing with matching 'His and Hers' ironing boards.


No more laundry pile, Iron Man Challenge complete.



What have I been talking to clients about today ?  


There is a lot of tidying up going on.   And a question that keep cropping up is 'do we have to keep records, and if so for how long ?'


The answer is, yes records are required to be kept.  There isn't, however, a requirement to keep them in hard copy, electronic/scanned copies are fine.


As for the period, it depends.


For companies, the rules are that records must be kept for 6 years from the end of the last company financial year they relate to


For non companies, self assessment rules require that records are kept for 5 years after the 31st January deadline for filing (ordinarily January after the end of the tax year)


These periods are extended if

  • they show a transaction that covers more than one accounting period

  • the business has bought something that it expects to last more than 6 years, like equipment or machinery

  • the tax return has been submitted late

  • HMRC has started a check into your tax return

Not sure what to do with your old records ?  For a small extra fee we can keep these for you and ensure destruction at the end of the above periods - just ask for more information.


Stay safe, stay positive !


Adrian 


adrian.mole@quove.co.uk


07917 338342



We were told to be a Lert.  I wasn't sure what a Lert was so googled it.


This is apparently a picture of a Lert - a small woodland animal.

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