Latest News / Updates

 TRUSTS! - TIMES THEY ARE A CHANGING!

An overhaul of trust regulation is coming and it is likely to create a compliance regime similar to that of Companies.

What does this mean for me?
Poor trust administration may lead to serious problems for both trustees and beneficiaries.  Things that could cause problems are:

  • Annual gifting of Settlors' loans not completed - meaning that some trust assets might not be fully protected - defeating the whole purpose of a Trust!
  • Trust minutes not completed - failure may lead to disputes between trustees and beneficiaries - causing expensive legal litigation
  • Lease documentation not on file or current - meaning the leasing arrangement could be challenged by the IRD or a disgruntled beneficiary
  • Registers regarding Trustees, Beneficiaries, significant events and gifting programmes not properly maintained - could lead to problems in establishing the true position of the trust - especially when attempting to wind it up and distribute assets to the beneficiaries!
  • No Settlors' Memorandum of Wishes - this is the blueprint for governance of the trust to make sure the intent of the settlors who established the Trust.  Without this, trustees may misinterpret the trust's purpose.

How can Accountants on London help?

We've developed a trust risk review process which we strongly recommend is actioned for all trusts.  The review will address all of the above concerns and provide a "warrant of fitness" of trust documentation and administration.

To put your mind at rest, we will be in touch over the next couple of months to discuss the review of your family trust - or if you wish us to attend to it now, please don't hesitate to contact us. 

     HOSTED  ON  LONDON

We've just announced a new initiative to help local Waikato SME business owners promote themselves in this on-going tough economic climate.

"Hosted on London" is the name of this business community initiative, which simply put, provides board-room facilities for small workshops and seminars to local business owners.

The concept is to assist local business' by providing our fabulous facility at little or no cost.

To find out more - click here
   XERO

We are pleased to announce that Accountants on London have become Xero Certified Advisors.

Xero is the online accounting system that small business owners dream about, providing financial clarity and confidence to business owners and their advisors in real time.

It is a full accrual accounting system, specifically designed for small businesses and includes:
  • Cashbook and General Ledger
  • Automated Bank Fees
  • Bank Reconciliation
  • Accounts receivables invoicing
  • GST Reporting
  • End of Month management reporting
  • End of Year financial statements
  • Budget and variance reporting
  • Expense Claims
  • Contact Management
  • Fixed Assets
  • Multi currency



Contact Jane Evans for more information:  Jane@aol.org.nz
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