Archive for December, 2013

McAleer Jackson: New Image – Same Great Service!

We are pleased to announce our new corporate identity, which incorporates a shortened trading name (formerly McAleer Mullan Jackson).

Managing Director, Hugh McAleer said:-‘The new logo was designed to promote the modern, progressive and professional values of the practice. The design has been simplified, mirroring our approach of simplifying complex financial matters for our clients. Whilst our image is being updated, the key message is that there will be no change to our trademark high quality service’.

McAleer Jackson offers a comprehensive service to clients in a wide range of industries and sectors including farming, retail, engineering, renewable energy and professional services. The firm is at the forefront of local practices, with a total of nine qualified Chartered Accountants within its ranks, backed by a strong team of support staff, trainee accountants and tax advisers.

 Our specialist Tax Department, under the guidance of Chartered Tax Adviser Arnold Jackson, offers a range of advice and services in all areas of tax, from Self Assessment and general compliance to Inheritance Tax, Capital Gains and Company Taxation.

 The firm also has considerable expertise in Limited Company Formation, IT Consultancy, Corporate Finance and Business Sales/Purchases.

 This specialist knowledge has been of great benefit to our clients, minimising their tax liabilities and assisting their businesses grow. 

 The photograph shows directors Hugh McAleer, Pauline McAleer and Arnold Jackson, along with the staff, outside our premises at Dublin Road, Omagh.

Autumn Statement

With the UK economy performing better than expected this year, the Chancellor attempted in the Autumn Statement to acknowledge this improvement, but also to continue with the fiscal discipline which had played a part in achieving it.

The Statement contained a few more changes than expected. More detail will emerge over the coming period, including draft legislation for the 2014 Finance Bill. Below is a brief summary of some of the main points.

  1. The personal allowance will increase to £10,000 in 2014/15.
  2. The higher tax rate (40%) tax threshold will increase by £415 to £41,865 in 2014/15.
  3. In certain circumstances, married couples and civil partners will be able to transfer £1,000 of their personal allowance to their spouse / partner in 2015/2016.
  4. From April 2015, employers will no longer pay Class 1 National Insurance Contributions on earnings up to the upper earnings limit to any employee under the age of 21.
  5. In October 2015, a new class of voluntary National Insurance Contributions (Class 3A) will be introduced to allow pensioners who reach state pension age before 6 April 2016 to top up their Additional Pension entitlement.
  6. CGT Private Residence Relief – the final exemption period is halved to 18 months from April 2014.
  7. Introduction of CGT for non-residents disposing of residential property from April 2015.
  8. Measures to tackle tax avoidance, including for some types of partnerships and employment intermediaries.
  9. The overall ISA subscription limit for 2014/15 will increase to £11,880, of which £5,940 can be invested in cash.

 

This is a summary of some of the main changes for information purposes only. For further details, please contact a member of our Tax Department on 02882 250253, or by email:

Arnold Jackson             arnold@mmjca.com

Jonathan Potter                        jonathan@mmjca.com

Emma Coll                   emma@mmjca.com

Killian Freehill               killian@mmjca.com

Further information is also available on the government website, via the link below:

https://www.gov.uk/government/topical-events/autumn-statement-2013

Exam Success

Eugene McCullagh, who has been with McAleer Jackson for three years, has just passed the Final Admitting Examination of Chartered Accountants Ireland. Eugene was also placed in the top 10% in the specialist Taxation paper.  

Commenting on Eugene’s recent success, Hugh McAleer stated “It is a testament to Eugene’s hard work and dedication that he has reached this milestone. I am delighted for him. It is also an example of the firm’s commitment to the recruitment and training of high calibre individuals. Eugene will reinforce our trademark high level of professional service.”

Eugene, from just outside Plumbridge, has reached the end of a six year journey that began when he started studying Accounting at Queen’s University, Belfast in 2007. After graduating in May 2010, he commenced employment with McAleer Mullan Jackson the following month, and has undertaken examinations each year with Chartered Accountants Ireland, culminating in the Final Admitting Examination sat in September 2013.

Eugene said “The relief that I feel is just wonderful. It was a long haul, starting all the way back in 2007, to reach this stage, but now that I have crossed the line and passed the FAE, every hour of study put in over these six years has absolutely been worth it. The Chartered Accountancy qualification is such a valuable one and will be with me over a lifetime now”.

This will bring the number of fully qualified chartered accountants within the firm to nine, which puts us at the forefront of local accountancy practices.

Authorised by The Institute of Chartered Accountants in Ireland to carry on a range of investment business activities in the UK and the Republic of Ireland.