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MJH through the eyes of a student

I started my work experience at MJH Accountants on Thursday 26th July 2018. My first task was to attend a local networking group, namely Shout. Whilst there, I listened to representatives from various local businesses explain what they do and how they work. It was very interesting to find out about the many different ideas that they had.

On Day 2, I was shown how to log the mail, both incoming and outgoing. I also learnt how to use the scanning machine to record all of the incoming mail as well as the franking machine which I used to stamp all of the mail that was going to be sent out.

I also helped update the company’s social media accounts. As a teenager in 2018, I benefit from growing up with social media, however, it was very interesting to learn how businesses, especially professional service firms are harnessing the power of social media to interact with their clients and contacts.

On Day 3, I analysed a client’s receipts and payments from their bank statement from which the accountant would take over and prepare the accounts. Accuracy was critical to this task and I was delighted to see that the figures balanced once I had finished.

On my last day at MJH Accountants, I recorded Mark’s schedule on the computer so that his time and billing record could be updated.

Overall, I thoroughly enjoyed my time at MJH and thought it was eye-opening to see how much work and effort is put in by everyone. I also really enjoyed being given the opportunity to work alongside other members of Mark’s team and meet clients and other businesses.

Olivia Violet

Year 10 pupil – Archbishop Temple School, Preston

October 2018 Tax Tips & News

Welcome…

To October’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We’re here to help!

Class 2 NICs to remain

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Self-employed earners (i.e. sole traders or partners) over the age of 16 and below state retirement age are currently liable to both Class 2 and Class 4 National Insurance contributions (NICs) unless specifically excepted by provisions contained in the Social Security Contributions and Benefits Act 1992.

Former Chancellor, George Osborne, made proposals to abolish Class 2 NICs and reform the system for paying Class 4 NICs. The proposals were designed to simplify the tax system for the self-employed and offer them more equal access to contributory benefits. However, the Treasury recently announced that it will not now proceed as planned with the abolition of Class 2 NICs, which was originally scheduled for April 2018, then delayed to April 2019. It is estimated that by not going ahead with the planned changes, the government will save some £360m for each of the three years to 2021 based on the original impact assessment.

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