Beer 3-30

We're having a "Beer 3-30" gathering on Friday 6th November 2009 at All Bar One, George Street, Edinburgh.

What is Beer 3-30? It's a very informal gathering of our clients, associates and other like minded folk. We talk about everything but business (that's what Monday 9.00 am to Friday 3.29 pm is for)

The Beer (or wine, soft drink if you prefer) is on One Accounting until the kitty runs out.

Oh, we start at 3.30 and finish at 6.00 (or later if the mood takes us)

Contact Chris or Neil at info@oneaccounting.co.uk if you want to join us.

Brad Sugars

We went to see a great presentation by Action Coach founder Brad Sugars in Glasgow the other night. My favourite quote of the evening for all you procrastinators out there

"When is now the best time to do this?"

He also gives a lot of stuff away for free at http://www.bradsfreeebooks.com

Did you know?

-The top 10 in demand jobs in 2010 did not exist in 2004.
- If myspace were a country it would be the fifth largest in the world

Many more nuggets besides are here -

http://www.youtube.com/watch?v=cL9Wu2kWwSY

Brad Sugars Event in Glasgow 5th October

A seriously good speaker for only £49 - check him out.

http://www.businessisbooming.org.uk/find-out-more.html

Flipping Houses

If you own and occupy more than one property as your home you can elect, within a set time period, for one of those properties to be your main home for tax purposes. You can change this election at any time so another property qualifies as your main home, hence the term 'flipping'. When you sell your main home the increase in value that has built up while it was your main home, and for the last three years of ownership, is free of capital gains tax.

Three years of the ownership period will be free of tax, even if the property has only been designated as your main home for a very short period, perhaps only a week. This is the tax rule many MPs used to avoid paying tax on the home that had been largely funded by their expense claims.

You can flip your properties just like an MP, if you make the first election within two years of acquiring another residence, or within two years of marrying (or civil partnership). If you have missed this deadline on your current properties it may be worth acquiring a very small third property to give you the option to make the election again.

However, beware that the law in this area could be changed with little advance notice following the MP's scandal.

Trams, Tourists and Traffic Wardens

Hello there. This is the first in an occassional series of words and thoughts from a dynamic, modern accounting firm who in a previous decade would have been referred to as "The Bean Counters".

Like most folk in Edinburgh, we can't actually get out to see our clients in August because of the three T's that get in the way of daily transportation.

- Trams (apparently some tram rails have now been laid on Princes Street)
- Tourists (recession? what recession!)
- Traffic Wardens (Can anyone explain why I can't park on a yellow line on a Sunday?)

Of course wearing a suit and tie on the Royal Mile on a sunny Monday makes you a magnet for overseas visitors to ask for directions to The Scott Monument, Scottish Parliament, The Fudge Shop, Arthurs Seat and (I kid you not) Berwick-on-Tweed.

Sure beats answering questions about S419, IR35 etc.