Can we help?
If you would like to discuss how My Business Centre can help you and your business, then please call Fiona on 01392 590068 for the Exeter and Crediton area or Claire on 01837 55482 for the Okehampton and Tavistock area.
Welcome to My Business Centre – Accountants and Business advisors specialising in Small Businesses (that’s from £500 of sales a year to around £5m turnover and everything in between).
We offer our clients a first-class service which makes life easier for you, the business owner, allowing you to focus on your business. From My Business Centre you can expect as standard…
Fixed Fees – you know exactly what you will pay for the service you have requested upfront, meaning that there are no nasty surprises later on.
Six Week Turnaround – a prompt and timely service is essential for any business. With this in mind, we guarantee a quick completion of your year end accounts and tax return, so that you will know your financial obligations (i.e. tax payments) in good time and have all your paperwork back in your office in case you need it.
Technology Efficiencies – we drive technology efficiencies in our business so we can help you implement them in yours. We offer cloud book-keeping through Xero, Secure areas for communications and as a business we adopted the Paperless Method of working back in 2011. We can help you gain efficiency in your business too.
Office or Home Visits – we can be flexible as to where and when we meet with you, supporting our key objective of letting you get on and run your business.
Friendly and Approachable – it goes without saying that we always talk in your language and are happy to answer any questions you have no matter how silly you might think they are.
Free One hour consultation – if you are interested to find out more about how we can work together, call us to arrange a free one hour consultation.
New Business Start up guide – our guide gives you all the information you need to know when you are considering starting a new business. Please feel free to call in and pick up your free copy, or call us and we will send one to you.
Founded in 2002 My Business Centre has a proven track record in helping clients of all sizes – see ‘What our clients say’
With Offices in Exeter and Okehampton we are truly Accountants in Exeter and Accountants in Okehampton.
1. PURPOSE OF THIS NOTICE
This notice describes how we collect and use personal data about you, in accordance with the General Data Protection Regulation (GDPR), the Data Protection Act 2018 and any other national implementing laws, regulations and secondary legislation, as amended or updated from time to time, in the UK (‘Data Protection Legislation’).
Please read the following carefully to understand our practices regarding your personal data and how we will treat it.
2. ABOUT US
My Business Centre Limited an accountancy and tax advisory firm. We are registered in England and Wales as a limited company under number: 5072185 and our registered office is at Jacob’s Pool House, 11 West Street, Okehampton EX20 1HQ.
For the purpose of the Data Protection Legislation and this notice, we are the ‘data controller’. This means that we are responsible for deciding how we hold and use personal data about you. We are required under the Data Protection Legislation to notify you of the information contained in this privacy notice.
We have appointed a Data Protect Manager. Our Data Protection Manager is our Data Protection Point of Contact and is responsible for assisting with enquiries in relation to this privacy notice or our treatment of your personal data. Should you wish to contact our Data Protection Point of Contact you can do so using the contact details noted at paragraph 12 (Contact Us), below.
3. HOW WE MAY COLLECT YOUR PERSONAL DATA
We obtain personal data about you, for example, when:
- you request a proposal from us in respect of the services we provide;
- you OR your employer OR our clients engage us to provide our services and also during the provision of those services;
- you contact us by email, telephone, post or social media (for example when you have a query about our services); or
- from third parties and/or publicly available resources (for example, from your employer or from Companies House).
4. THE KIND OF INFORMATION WE HOLD ABOUT YOU
The information we hold about you may include the following:
- your personal details (such as your name and/or address);
- details of contact we have had with you in relation to the provision, or the proposed provision, of our services;
- details of any services you have received from us;
- our correspondence and communications with you;
- information about any complaints and enquiries you make to us;
- information from research, surveys, and marketing activities;
- Information we receive from other sources, such as publicly available information, information provided by your employer or our clients.
5. HOW WE USE PERSONAL DATA WE HOLD ABOUT YOU
We may process your personal data for purposes necessary for the performance of our contract with you OR your employer OR our clients and to comply with our legal obligations.
We may process your personal data for the purposes necessary for the performance of our contract with our clients. This may include processing your personal data where you are an employee, subcontractor, supplier or customer of our client.
We may process your personal data for the purposes of our own legitimate interests provided that those interests do not override any of your own interests, rights and freedoms which require the protection of personal data. This includes processing for marketing, business development, statistical and management purposes.
We may process your personal data for certain additional purposes with your consent, and in these limited circumstances where your consent is required for the processing of your personal data then you have the right to withdraw your consent to processing for such specific purposes.
Please note that we may process your personal data for more than one lawful basis depending on the specific purpose for which we are using your data.
Situations in which we will use your personal data
We may use your personal data in order to:
- carry out our obligations arising from any agreements entered into between you OR your employer OR our clients and us (which will most usually be for the provision of our services);
- carry out our obligations arising from any agreements entered into between our clients and us (which will most usually be for the provision of our services) where you may be a subcontractor, supplier or customer of our client;
- provide you with information related to our services and our events and activities that you request from us or which we feel may interest you;
- seek your thoughts and opinions on the services we provide; and
- notify you about any changes to our services.
In some circumstances we may anonymise or pseudonymise the personal data so that it can no longer be associated with you, in which case we may use it without further notice to you.
If you refuse to provide us with certain information when requested, we may not be able to perform the contract we have entered into with you. Alternatively, we may be unable to comply with our legal or regulatory obligations.
We may also process your personal data without your knowledge or consent, in accordance with this notice, where we are legally required or permitted to do so.
We will only retain your personal data for as long as is necessary to fulfil the purposes for which it is collected.
When assessing what retention period is appropriate for your personal data, we take into consideration:
- the requirements of our business and the services provided;
- any statutory or legal obligations;
- the purposes for which we originally collected the personal data;
- the lawful grounds on which we based our processing;
- the types of personal data we have collected;
- the amount and categories of your personal data; and
- whether the purpose of the processing could reasonably be fulfilled by other means.
Change of purpose
Where we need to use your personal data for another reason, other than for the purpose for which we collected it, we will only use your personal data where that reason is compatible with the original purpose.
Should it be necessary to use your personal data for a new purpose, we will notify you and communicate the legal basis which allows us to do so before starting any new processing.
6. DATA SHARING
Why might you share my personal data with third parties?
We will share your personal data with third parties where we are required by law, where it is necessary to administer the relationship between us or where we have another legitimate interest in doing so.
Which third-party service providers process my personal data?
“Third parties” includes third-party service providers. The following activities may be carried out by third- party service providers: IT and cloud services, software providers, professional advisory services, administration services, some book-keeping and payroll services, marketing services and banking services.
All of our third-party service providers are required to take commercially reasonable and appropriate security measures to protect your personal data. We only permit our third-party service providers to process your personal data for specified purposes and in accordance with our instructions.
What about other third parties?
We may share your personal data with other third parties, for example in the context of the possible sale or restructuring of the business. We may also need to share your personal data with a regulator or to otherwise comply with the law.
7. TRANSFERRING PERSONAL DATA OUTSIDE THE EUROPEAN ECONOMIC AREA (EEA)
We will transfer the personal data we collect about you to the USA for storage not processing, this is outside of the EEA:
There is an adequacy decision by the European Commission in relation to this country as it is protected as part of the EU-US Privacy Shield. Therefore it is be deemed to provide an adequate level of protection for your personal information for the purpose of the Data Protection Legislation.
8. DATA SECURITY
We have put in place commercially reasonable and appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors
and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.
We have put in place procedures to deal with any suspected data security breach and will notify you and any applicable regulator of a suspected breach where we are legally required to do so.
9. RIGHTS OF ACCESS, CORRECTION, ERASURE, AND RESTRICTION
Your duty to inform us of changes
It is important that the personal data we hold about you is accurate and current. Should your personal information change, please notify us of any changes of which we need to be made aware by contacting us, using the contact details below.
Your rights in connection with personal data
Under certain circumstances, by law you have the right to:
- Request access to your personal data. This enables you to receive details of the personal data we hold about you and to check that we are processing it lawfully.
- Request correction of the personal data that we hold about you.
- Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal data where you have exercised your right to object to processing (see below).
- Object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this basis. You also have the right to object where we are processing your personal information for direct marketing purposes.
- Request the restriction of processing of your personal data. This enables you to ask us to suspend the processing of personal data about you, for example if you want us to establish its accuracy or the reason for processing it.
- Request the transfer of your personal data to you or another data controller if the processing is based on consent, carried out by automated means and this is technically feasible.
If you want to exercise any of the above rights, please email our data protection point of contact Fiona Rook Fiona.rook @mybusinesscentre.co.uk.
You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request for access is clearly unfounded or excessive. Alternatively, we may refuse to comply with the request in such circumstances.
We may need to request specific information from you to help us confirm your identity and ensure your right to access the information (or to exercise any of your other rights). This is another appropriate security measure to ensure that personal information is not disclosed to any person who has no right to receive it.
10. RIGHT TO WITHDRAW CONSENT
In the limited circumstances where you may have provided your consent to the collection, processing and transfer of your personal data for a specific purpose, you have the right to withdraw your consent for that specific processing at any time. To withdraw your consent, please email our data protection point of contact Fiona.rook @mybusinesscentre.co.uk.
Once we have received notification that you have withdrawn your consent, we will no longer process your personal information (personal data) for the purpose or purposes you originally agreed to, unless we have another legitimate basis for doing so in law.
11. CHANGES TO THIS NOTICE
Any changes we may make to our privacy notice in the future will be updated on our website. This privacy notice was last updated on 14 May 2018.
12. CONTACT US
You also have the right to make a complaint to the Information Commissioner's Office (ICO), the UK supervisory authority for data protection issues, at any time. The ICO’s contact details are as follows:
Information Commissioner's Office
Wycliffe House Water Lane Wilmslow Cheshire
Telephone - 0303 123 1113 (local rate) or 01625 545 745
Website - https://ico.org.uk/concerns
The legislation is still being finalised for this so below is our current understanding:
What is Making Tax Digital?
Making Tax Digital will make it a legal requirement for businesses to keep their records digitally.
From April 2019 sole traders, partnerships and those with rental income above the VAT threshold (currently £85,000) will need to start sending quarterly accounts electronically to HMRC
Eventually it will be compulsory for businesses and landlords with income over £10,000.
Within a month of quarter end, tax payers will need to submit Profit and Loss numbers to HMRC.
After the 4 quarters have been submitted, then there is a 5th submission to bring in any annual and tax adjustments so that the 5 added together will be the equivalent of your yearend accounts and tax return.
Quarterly data will need to be submitted via:
- Cloud accounting software that meets the MTD requirements e.g. Xero
- Desktop accounting software that meets the MTD requirements
- Spreadsheets that upload to MTD
It will not be possible to enter numbers direct to HMRC software.
Who and when?
Legislation starts for all yearends starting after 5th April 2019.
Businesses and landlords with yearends 5th April 2019 will be the first to start. Your first MTD quarterly return will cover the quarter from 6th April 2019 to 5th July 2019 and will need to be submitted by 5th August 2019.
Businesses with yearends of 31st March 2019 will not start until a year later. Your first return will be from 1st April 2020 to 30th June 2020 and will need to be submitted by 31st July 2020.
Top Tip – Businesses - Change your yearend to 31st March so that you delay this by a year. However this is not an option for Landlords as your tax year by statute runs to the 5th of April.
Those with turnover below the first threshold will be introduced in later.
Limited companies are planned to be introduced from April 2020.
Is there help at hand?
Yes, talk to us, we will be able to help.
Is it all bad news?
Undoubtedly, this will feel like more red tape for businesses, another thing to do that isn’t just running your business but:-
You can see this as an opportunity to get on top of your numbers on a quarterly basis, and start using your accounts quarterly to help you make decisions about your business.
Xero is revolutionising the world of book-keeping. Click here for a free trial.
Log in online anytime, anywhere on your Mac, PC, tablet or phone and see up-to-date financials. It’s small business accounting software that’s simple, smart and occasionally magical.
It’s easy to use having been built specifically for small business users and specifically to work in the Cloud (over the internet).
You can set up a ‘Bank Feed’ meaning that transactions through your bank are pulled into your Xero in real time – that means as they happen. You simply have to match a receipt to the sales invoice already raised or allocate a payment to a bill whether already entered or create it now.
It simply takes the BORING out of Book keeping
And it gets better…
You can photograph your receipt on your mobile (or scan), upload it to Xero showing it as a document attached to the cost – then throw away the receipt. No more frantic search to find lost receipts.
As your accountants, we can log in (with your permission), see how you are doing, advise where to post a tricky transaction and - what our clients love best -we can check if the dividend you want to declare is ok. If it is, we can do the paperwork, get it approved and enter it into your Xero so you can have your money - Job Done!
We offer training and support for Xero.