blog

St Giles Hospice is our nominated charity for 2012-13

Mon, 30 Apr 2012 15:11:40 +0100

We are pleased to announce St Giles Hospice as our nominated charity for 2012-13. Inspired Accountants has pledged to support St Giles Hospice via a number of fundraising events after a close relative of the owner was admitted.

Paul Bulzacchelli’s Grandfather was recently admitted to St Giles Hospice to provide respite for the family. Paul who is the Managing Director of Inspired Accountants commented: “The nursing care received from St Giles was incredible. All the nurses and staff were extremely caring and dedicated to providing the very best medical and nursing care. We are very fortunate to have St Giles serving the local area and although St Giles receives some funding from the Government it is incredible that they are so heavily reliant on donations and fundraising efforts.

“We are planning on holding a number of fundraising events in aid of St Giles through 2012-13 starting with entering a team of ladies in the Lichfield Solstice Walk.”

Inspired Accountants has entered a team of six ladies who will adorn their ‘wings and wands’ for the 9 mile Solstice Walk which takes place on 23^rd June. As well as the lady walkers a number of male staff from Inspired Accountants will attend in support.

Paul concluded: “We are drumming up as much support as we can from our friends, family, clients and business associates.”

If you would like to support the ladies from Inspired Accountants you can do so by sponsoring them at www.justgiving.com/InspiredAccountantsSolsticeWalk.

Announcing the launch of our new service to reduce fuel costs

Wed, 18 Apr 2012 15:25:50 +0100

We have launched a new service to help stop high petrol and diesel costs eating into the profits of his clients. Read our press release below for more information.

Paul Bulzacchelli of Inspired Accountants has formed an alliance with Forecourt Fuels to offer his clients a fuel card solution which saves an average of 3 pence per litre: “Many small businesses are still suffering from the economic climate and the ever-increasing cost of fuel is adding to the pressure. Any small advantage that businesses can gain is well worth it as it can make hundreds and even thousands of pounds difference per year”, said Mr. Bulzacchelli.

Clare Makepeace from Forecourt Fuels commented: “Fuel prices have risen by about 20 to 25 pence in the last year. In reality for the average vehicle travelling 30,000 miles a year with an average 30mpg, this has meant the cost of fuel has risen by about £1,000 compared to the previous year.”

The fuel card solution on offer by Inspired Accountants offers more than just cost savings. Mr. Bulzacchelli concluded: “Our solution provides easy management whether you have one vehicle or run a small fleet. With online account management you can monitor fuel usage, there is VAT approved invoicing and there is an agreed credit limit with flexible payment terms to help free up cash flow. Plus there are no set up costs, no contract, no monthly fees and with fixed weekly pricing you can know the price in advance for the whole week no matter where you are.”

Inspired Accountants are based in Lichfield and Leicester and work with small to medium size companies throughout the Midlands and further afield. More information can be found on their website www.inspiredaccountants.com.

Kay celebrates exam success

Wed, 21 Mar 2012 17:20:01 +0000

Kay Lewis, Practice Manager with Inspired Accountants is celebrating after qualifying with the Association of Taxation Technicians to become a qualified Taxation Technician.

The Association of Taxation Technicians (ATT) sets the benchmark in technical education and qualification for taxation technicians. It is the leading professional body for qualified taxation technicians who specialise in complying with UK tax obligations, compliance services and related activities.

Commenting on her qualification Kay said: “I’m happy that the hard work and nine months worth of study has culminated in passing ATT first time. The course covered personal and business tax as well as practice administration and ethics. Achieving ATT is just the first step, as I will be undergoing continual professional development to ensure I am 100% up-to-date and able to offer the best possible advice to businesses and individuals.”

Kay has 17 years accountancy experience, is a qualified Certified Accountant and a Fellow of the Association of Chartered Certified Accountants. She joined Inspired Accountants in July 2010 as Practice Manager and assists the practice with providing compliant and cutting-edge accountancy and taxation solutions.

Paul Bulzacchelli, Managing Director at Inspired Accounts commented: “As a practice, we are committed to supporting employees in achieving professional qualifications.

“I am delighted for Kay as this qualification demonstrates she has the technical knowledge and practical experience of the tax system to be able to expertly assist individuals and businesses in complying with their tax obligations.”

Inspired Accountants has offices in Lichfield and Leicester and provides a comprehensive range of accountancy and advisory services to limited companies, partnerships, self employed people and private individuals.

Inspired Accountants sponsors 107-mile cycle challenge

Wed, 14 Mar 2012 14:13:23 +0000

Lichfield and Leicester accountancy practice, Inspired Accountants, has pledged sponsorship to ensure much needed energy drinks and bars are provided to all competitors in this year’s Charity Challenge Cycle Ride.

The Charity Challenge Cycle Ride, which is in aid of Diabetes UK, takes place on Sunday 1^st April starting in Four Ashes in Staffordshire. The course covers 107 undulating miles, taking in on route Ironbridge, The Wrekin, Much Wenlock and Church Stretton.

Commenting on their sponsorship, Paul Bulzacchelli Managing Director of Inspired Accountants said: “I became involved with the Charity Challenge Cycle Ride due to a business associate, Phil Watson. He explained about the cause which I know is close to his heart for personal reasons. He also explained about the challenge that he individually will be undertaking in cycling the 107-mile course, which undulates and climbs in excess of 3,500ft, in a single speed bicycle.”

In 2011 the event raised over £3,500 for Diabetes UK and event organisers are aiming for a higher total this year.

Phil Watson of Lichfield, who will be attempting the cycle challenge in a single speed bicycle commented: “The whole event has to be professionally and safely organised. Inspired Accountants’ generous sponsorship will provide much needed energy bars and drinks for the riders to replenish the thousands of calories they will expend on route. In turn this will help riders to ‘survive’ the route and successfully earn their sponsorship for Diabetes UK.”

There will also be a shorter 13-mile cycle ride on the day. If you are interested in taking part or sponsoring the event, further information can be found at www.i-tms.co.uk/i-tmschallenge2012.html.

Specialist tax consultant joins Inspired

Wed, 08 Feb 2012 14:57:57 +0000

Read our latest press release here: Lichfield and Leicester accountancy firm, Inspired Accountants, is continuing to expand and invest in its future with the recruitment of a specialist Tax Consultant.

Steven Payton joins Inspired Accountants bringing with him 25 years of tax experience gained from working with such firms as KPMG, PKF and RSM Bentley Jennison - now RSM Tenon. Steven’s appointment will play a significant part in Inspired Accountants’ strategy to further develop the firm’s tax services and enhance its added value client services.

Commenting on his appointment, Paul Bulzacchelli, Managing Director at Inspired Accountants said: “Steven’s knowledge and experience will be valuable to both us as a company and our clients alike. One of his greatest strengths lies with his specialist knowledge of incorporating tailored tax planning into a company’s overall business strategy."

Steven will be advising businesses and individuals on a whole range of tax planning including Corporation tax, Personal tax, Capital Gains Tax, Inheritance Tax, Trusts, National Insurance and VAT.

Steven, who was a Partner in an accountancy practice based in Derby for 11 years prior to joining Inspired Accountants, commented: “ I am looking forward to being part of a successful and dynamic practice and participating in the development of the firm’s tax services.

“What appealed to me most about joining the firm was the modern approach Inspired adopts with its understanding of not allowing tax planning to lead business strategy."

Steven also commented on how his past experience of working for HM Revenue & Customs and some of the leading accountancy firms within the UK has helped him develop an understanding of how to correctly use compliant and open-minded tax planning solutions.

Part of Steven’s role will involve developing the client base for Inspired Accountants’ recently opened Leicester office.

Paul Bulzacchelli concluded: "I am confident that Steven will be able to commercially add value for our clients."

Announcing the opening of our Leicester office

Wed, 11 Jan 2012 16:11:47 +0000

We are pleased to announce the opening of our Leicester Office. Here’s our latest press release.

Inspired Accountants, a leading Lichfield accounting, taxation and business consulting firm, has opened a second office in Leicester.

“I am delighted to announce the opening of our new office at 108 New Walk, Leicester,” said Paul Bulzacchelli Managing Director of Inspired Accountants. “We have had plans to expand our physical presence in the East Midlands for a while, and this location is perfect for us to help extend our brand and business operations in Leicester and the surrounding area.”

Inspired Accountants is an ambitious firm with a modern outlook and provides a comprehensive range of accountancy and advisory services to limited companies, partnerships, sole traders and individuals. The firm has built a strong reputation in Staffordshire and is generally regarded as one of the premier accountancy firms in Lichfield with the breadth and depth of its experienced and qualified professionals.

“The Leicester office is a symbol of our continued commitment to the Midlands and I'm already planning for a third Midlands based office. I’m also passionate that as a firm we should not only become active within the local business community, but we should also build strong relations with the wider local and charitable communities”, added Paul Bulzacchelli.

Inspired Accountants has joined Leicester Chamber of Commerce and a number of business networking groups and is currently forging links with Rainbows Children’s Hospice.

To help forge business links in Leiceser, Paul Bulzacchelli is asking for local companies to get in touch. The firm is also offering a free consultation for anyone needing accountancy related advice.

Inspired Accountants warns over HRMC payment deadline

Fri, 22 Jul 2011 15:45:49 +0100

In 2010 HM Revenue & Customs (HMRC) introduced a penalty regime applicable to late payments on pay as you earn (PAYE) and national insurance (NIC) payments for employee wages.

The penalties are applicable for the 2010/11 tax year and HMRC have just recently commenced enforcing and issuing fines for late payments and underpayments. However, Paul Bulzacchelli, managing director at Lichfield based Inspired Accountants has warned that many businesses could easily be caught out and miss a deadline. He explained: “Electronic payments must be cleared and reach HMRC's bank account no later than the 22nd of the month following the end of the month or quarter to which it relates. For postal payments you need to ensure your cheque reaches HMRC no later than the 19th of the month following the end of the month or quarter to which it relates.

“Where I think it could be easy to miss the payment deadline is when the deadline falls on a weekend or worse still a Bank Holiday. Let’s use the electronic payment method as an example. Ordinarily to meet the 22nd deadline, you have to make your payment on or before 19th of the month. Where the 22nd falls on a weekend or bank holiday, you must ensure that your payment arrives no later than the last working day before the 22nd. In the worst case scenario this means that the payment will have to be made on 17th, 5 days before the deadline, which is enough to catch some businesses out.”

The penalties are based on the number of defaults and late payments and increase in magnitude with the number of defaults that occur. Penalties vary from 1% to 4% of the late amount depending on how many payments are late. There is no penalty if you pay late once in a tax year, unless the payment is over 6 months. There are also penalties of 5% if other payments such as class 1a NICs are late with a further 5 % charge being raised 12 months after the penalty date.

Keep more of what you earn.

Tue, 21 Jun 2011 16:23:30 +0100

A free seminar hosted by Inspired Accountants. We are hosting an exciting event at The Belfry Hotel on Tuesday 12 July 2011 at 9:00am which will help you win new business and add value to your existing clients.

Graham Eden of Peak Performance will be presenting a portfolio of tax saving strategies aimed at high net worth individuals and companies. The feedback from similar sessions has been excellent, so if you are a banker, solicitor or financial adviser then I am confident that you will benefit.

Just to give you a flavour of the benefits that the strategies can deliver, I am aware of a number of business owners, generating profits in excess of £200,000, who have already been able to significantly reduce their corporate and personal tax by implementing strategies. I am also aware of banks, solicitors and financial advisers who have attended previous sessions have been able to win and generate new business (and therefore profit) by using this knowledge.

I am sure that the above event will be of significant interest to you and your clients and perhaps you could let me know as soon as possible if you would like to attend and bring any guests with you.

Refreshments will be served from 9.00am, the presentation will commence at 9.30am prompt and we are scheduled to finish the presentation around 1.00pm.

Please call Simone on 01543 263824, or alternatively email me on paul@inspiredaccountants.com to record your attendance.

Inspired Accountants launches free information centre

Thu, 26 May 2011 15:33:42 +0100

Lichfield based Inspired Accountants Ltd has launched a new website to reflect its new branding and to provide local companies with free access to a comprehensive business information centre.

The website was developed in conjunction with website specialists Trinity Design and Practice Web and was designed and branded in line with Inspired Accountants’ newly developed corporate identity.

Paul Bulzacchelli, Managing Director at Inspired commented:” In addition to showcasing our experience, expertise and service offerings, the new website includes a free information centre containing a wide range of calculators, factsheets, rate cards and content covering all aspects of accountancy, business planning and management.

“We developed the information centre in response to the increasing demand for accessing accurate and trustworthy information via the internet. However I must stress that whilst the content may well provide excellent answers and solutions, there is no substitute for obtaining professional advice.”

The information centre includes information and guides on an extensive range of topics including tax, investments, personal financial planning, business solutions and VAT. It is updated on a daily basis and to help keep business owners informed, they can subscribe to a free weekly email newswire detailing the new content.

The new information centre can be found here.

HMRC targeting small businesses over record keeping

Fri, 13 May 2011 11:34:41 +0100

According to the managing director of Inspired Accountants, HMRC has started to implement a programme of inspections to ensure that small businesses are keeping adequate records.

Paul Bulzacchelli, managing director at Lichfield based Inspired Accountants commented: “During the consultation process over HMRC’s new approach to record keeping compliance, it was made clear that there will be a direct focus on small business record keeping during the 2011 financial year.”

During a pilot of inspections, HMRC identified that poor records are a key risk to the integrity of the tax system as there are taxpayers who are unable to declare the correct amount of tax because their business records are not adequate. HMRC has estimated that 2 million small to medium size enterprises are keeping inadequate business records.

“This is the first time that HMRC inspectors will be checking records for the current tax year, as in the past it has only targeted companies after analysing a return filed for the previous year. The inspectors will expect to see that a business is maintaining accurate and adequate records of its invoices, receipts, expenses, VAT, PAYE, national insurance and corporation tax,” added Mr Bulzacchelli.

The inspection process has already commenced with over 1,000 letters being sent out to businesses up and down the country.

Mr Bulzacchelli concluded: “Business owners should take these warnings very seriously as there are potentially serious issues and fines at stake for having poor records and HMRC could decide to go back as far as six years with their inspections.”

Inspired Accountants advise high profile extreme dirt sports venture

Thu, 14 Apr 2011 17:00:51 +0100

Inspired Accountants is celebrating after winning a new account to provide business advice and accountancy support to Tamworth based Getting-Dirty.com®.

Getting-Dirty.com® is a new online social network, portal and electronic magazine for news, tips, music and fashion associated with the motocross scene. Getting-Dirty.com® has the support of a number of high profile people and motocross riders. Katy Bullock of X-Factor fame and top British Ladies Enduro champion fronts the Enduro Page and Rikki Priest, a five times British motocross champion, writes about the latest motocross news and provides trainer tips.

Commenting on the new account win, Paul Bulzacchelli director at Inspired Accountants said: “When Mike Duffy first approached me and explained the concept behind his new venture I was immediately interested and excited about the prospect of being involved. The pre-launch demand via Facebook was unprecedented and Mike had put together a team of very talented and creative individuals, and he had also secured the backing of some great names within motocross. These were all sure indicators that he was on to a winning idea which just needed some business planning and finance to assist with its launch and future development.”

Inspired Accountants provided set-up advice and was instrumental in helping secure funding for the new venture.

Inspired Accountants provide a comprehensive range of accountancy and advisory services to individuals, self employed people, partnerships and limited companies. The practice was originally established in 1968 with Inspired Accountants Ltd being launched as its new company name and brand in January 2011.

Lichfield accountant warns over new penalties for late tax returns

Thu, 07 Apr 2011 17:02:26 +0100

The 6^th April this year sees HM Revenue & Customs enforce new penalties for filing a late self-assessment tax return and for making a late payment.

Paul Bulzacchelli, managing director at Lichfield based Inspired Accountants commented: “The new tax year brings with it harsher fines and penalties from HMRC as they believe the former £100 penalty failed to act as a big enough deterrent. The new penalty increases over time and so is designed to get people to submit self-assessment tax returns as soon as possible, as the greater the delay, the greater the penalty.”

Under the previous system the maximum penalty for filing a late self-assessment tax return was £100, with interest being added on the outstanding tax payment.

The new system charges £100 on the first day of late submission with a daily penalty of £10 per day being charged after three months. Further penalties will be incurred if the self-assessment tax return is outstanding after six months and then a year later, with a maximum penalty of £1,300 now possible of being incurred. The penalties for the late payment of tax include an initial penalty of five percent of the unpaid tax after 30 days and further penalties at six months and a year if it remains unpaid.

Paul Bulzacchelli concluded: “Penalties will be automatically sent to all self-assessment taxpayers who do not file and pay on time. Taxpayers will be able to appeal against a penalty on the grounds that they have a reasonable excuse for not complying on time.

“I would strongly recommend that anyone needing to complete and submit a self-assessment tax return to seek advice from a chartered accountant, to not only ensure they comply with filing and payment deadlines, but to ensure that they do not pay any more income tax than is necessary.”

An inspired name change for Lichfield accountants

Mon, 14 Feb 2011 17:31:46 +0000

Lichfield accountancy firm, Naylors Accountants Ltd, has undergone a complete rebrand and change of name.

Inspired Accountants Ltd is the new name which was officially unveiled along with new corporate branding to the firm’s clients and business partners via a Champagne launch event which took place in late January at Swinfen Hall Hotel, near Lichfield. The launch event was a great success and attracted in excess of 150 local business people from in and around the West Midlands.

Company Director Paul Bulzacchelli commented: “The repositioning of our brand is integral to our strategy and business plan. We have invested in understanding what our clients and potential clients desire from an accountant and as a result we have developed our business substantially over the last five years. 2011 is the right time for us to launch a new brand to accurately reflect our core values, work practices and business outlook.

“We are proud of our history but at the same time we are on an exciting journey and our new brand marks a significant step in our transformation as a business. I remain focussed and committed to growing the practice, developing our service offerings and ensuring we engage with our clients and business partners in the best possible way.”

Practice Manager Kay Lewis added: “Our new name and visual identity will help us to communicate that we have a forward thinking approach and that we strive to provide a high quality service with proactive advice that helps our clients maximise their profitability and minimise their tax burden.

“We want everyone who deals with us to be inspired and have the business support to help them to look forward to the future with confidence and optimism.”

Mr Bulzacchelli concluded: “We are a modern and proactive accountancy firm and we now have a brand to reflect this.”

Inspired Accountants are based in Lichfield and provide a comprehensive range of accountancy and advisory services to individuals, self employed people, partnerships and limited companies.

Mark is chartering his way to qualification

Tue, 18 Jan 2011 08:30:00 +0000

Mark Branch has officially been recognised as being Part Qualified after passing six out of the fourteen exams of the Association of Chartered Certified Accountants (ACCA) qualification.

Mark started working for the qualification in 2008 after completing his AAT (Association of Accounting Technicians) qualification which also meant that he was exempt from the first three exams.

Commenting on his achievement Mark said: “I always found that I was good with numbers and so I knew from a young age that a career in accountancy was for me.

“In the last two years I have passed six exams to become Part Qualified. I still have five professional exams left to complete, two of which I am sitting in December.”

Company Director Paul Bulzacchelli commented: “When I purchased the practice just over five years ago, I pledged to continue to invest in and support all staff. I am committed to training and development and I see this as a vital and worthwhile investment in the future of the business.

"My congratulations go out to Mark on his achievement and I wish him continued success with next stages of the qualification."

Mark joined Naylors in September 2005, and his duties and responsibilities have increased over time. His main duties now include preparing company accounts and tax returns.

Mark is originally from Shenstone, went to school in Lichfield now lives in Burntwood. He plays semi-professional football for Chasetown Football Club, having played over 230 games for the team. Mark was part of the team which became the smallest club ever to get to the FA Cup third round in 2008, losing to eventual finalists Cardiff City.