PCG LAUNCHES SARA, AN ONLINE S660A RISK ASSESSMENT TOOL

Are you at risk from S660A? Find out today using SARA, an online "Self Assessment Risk Analysis" tool developed by PCG and Accountax Consulting.

You may be at risk from an Inland Revenue challenge on Section 660A, the "settlements legislation" if any (or all) of the following apply:

• There is a limited company (or partnership)
• Ownership is shared with someone else (e.g. spouse)
• The freelancer is the sole or main fee-earner
• The other owner receives dividends or profit share

SARA is available to PCG members only at a special price of just £25 (normal RRP £199), and can be purchased online www.pcg.org.uk/sara/Purchase.php

Section 660A can arguably have more impact on freelancers than IR35 as it resides with the individual, rather than the company, and therefore follows you for life.

SARA was first developed some years ago by Accountax as a telephone questionnaire for clients to determine their likely exposure to a S660A challenge by the Inland Revenue. Since then, it has been developed and refined during extensive use with clients. In light of an increased number of enquiries and interest around S660A from members, PCG approached Accountax to collaborate on a project to bring SARA online and be available to a far greater number of freelancer small businesses.

There are two versions of SARA to account for the difference between the cases where shares were gifted from one partner to another, and the case where both partners owned shares from the outset. Both versions contain a series of about 35 questions.

The questionnaire takes around 20 minutes to complete, and results are available immediately. SARA enables you to understand and take relevant action:

• To identify whether your circumstances indicate that the Inland Revenue is likely to challenge and secondly,
• If the Inland Revenue does challenge, your level of risk.

After completing the questionnaire your own risk factor is published on a scale of
1-10, with explanatory text.

See also PCG's newly-published Guide to S660A.

Please contact Simon Juden at [email protected]. Very recent independent market statistics will be provided to stimulate discussion. The date and time of the focus groups is to be arranged, but they will probably be some time in March. Participation gives the opportunity to have comments published and attributed in a leading recurrent market analysis as well as the chance to network within ones chosen specialty.

END OF 100% CAPITAL ALLOWANCES FOR IT EXPENDITURE LOOMS

Small businesses that invest in information and communication technology equipment up to 31 March 2004 will be able to claim 100% first year allowances, thereby getting immediate relief on the whole cost of their investment.

This covers expenditure on IT equipment, including any software purchased for use with hardware, all computer equipment and peripherals, cabling for use with computer networks, the creation of your business website and hi-tech communications technology such as WAP mobile phones.

If you want to take advantage of this enhanced capital allowance, you should make your purchases before 31 March 2004, as this may not be extended again in the forthcoming Budget.

PCG SHORTLISTED FOR THE ORANGE SMALL IS BEAUTIFUL AWARDS

PCG is one of four small businesses shortlisted for the Orange Small is Beautiful Awards 2004, in the Best Demonstration of Business Ethics category.

The awards are being judged by an expert panel of leading figures from industry and business, including, for this category, Mei Shui, head of business programme, The Princess Trust, and Ken Pascoe, national director, The Learning & Skills Council.

The award ceremony will take place on Tuesday 2 March 2004 at the Institute of Directors, and two representatives from PCG have been invited to attend.

Richard Robson and his fellow PCG directors were delighted to learn of the news.

WARNING ABOUT 'PHISHING' EMAILS

A number of emails are circulating purporting to come from banks and asking for bank customers to confirm passwords and credit card details. This practice is known as 'phishing'. Banks do not, as a rule, request password information in this way and one should never divulge such information in response to unsolicited emails.

It also possible to spoof the URL displayed by some browsers, so that it is impossible to confirm whether such emails are genuine.

Information on the latest example can be found on the PCG forums here.

REAL LIFE MEETINGS

Edinburgh - Bert's Snug Bar - Tuesday 2 March 2004 18:00
The Snug Bar is booked. Please bring a friend to introduce them to the idea that the PCG is a valuable resource. See forum discussion.
Contact: john_ferguson (John Ferguson)

Central London Chapter (CLC) - Thursday 4 March 2004
Jack Horner Pub Tottenham Court Road, unless anyone has alternative suggestions. See forum discussion.
Contact: coralsoft (Mark Proctor)

London - "Designing your Website" - AICS - Thursday 11 March 2004, 19:00
National Liberal Club, 1 Whitehall Place, London, SW1. The Association of Independent Computer Specialists presents "Designing your Website". Guest speakers - David Penfold and Conrad Taylor of the British Computer Society Electronic Publishing Specialist Group. For further information about the AICS please visit www.aics.org.uk. See forum discussion.
Contact: ashmele (John Ashmele)

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