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March 4, 2016
If you discover an error you can put it right by adjusting your next VAT return. You don’t have to tell HMRC about it as long as the net amount is less than £10,000 or, if greater, 1% of the figure in Box 6 of the VAT return for the period in which you discover…Read More
February 23, 2016
A recent case has confirmed an earlier ruling that although a contract for sale of property has been signed, it doesn’t stop the original owner transferring the property to someone else in the meantime. Does it open the door for last-minute tax planning? For CGT purposes an asset is disposed or acquired when the contract…Read More
February 5, 2016
When is a company car not a taxable perk? Where your company owns a car which you use for business, HMRC will usually treat it as a taxable perk, even if you don’t use it for private journeys. Avoiding the tax charge isn’t straightforward. What steps do you need to take? The way to avoid…Read More
January 15, 2016
The Government really does not like buy-to-let landlords. We’ve already reported on the rules which start to come in from April 2017 restricting tax relief on loans to buy BTLs; and the 3% SDLT surcharge on second homes and BTLs comes in from 1 April 2016. Of course, if you haven’t borrowed money to buy…Read More
December 17, 2015
This year we asked our clients to take part in a Christmas Hamper draw. We’re delighted to announce and present our Luxury Christmas Hamper to Christine De Priori of Mario’s Heating Ltd. Well done Christine and Mario, and a very Merry Christmas to you and your family. Mario’s Heating was established by Mario De Priori…Read More
December 11, 2015
Barry speaks on air at Bedford’s Urban Radio Station 106.5 FM in2beats… The Business Show on Mondays from 12-1pm presents local business advisers in a question and answer session. Barry presented information to help both new and established businesses with their claims for tax deduction and advised on the benefits of keeping their accounts and…Read More
November 30, 2015
This amusing “lookalike” recently appeared in The Bedford Club Newsletter: Barry Cowley Emperor Ming Has anyone ever noticed before the uncanny resemblance between Barry Cowley, our Treasurer, and The Emperor Ming of Mongo, known affectionately as Ming the Merciless?…Read More
November 24, 2015
We are delighted to present our Halloween Hamper to Draw Winner Dilys Brereton of HomeInstead Senior Care. HomeInstead Senior Care are Award winning leaders in providing Homecare to seniors in the Luton and Central Beds areas who wish to remain in their own homes. They also strive to be employer of choice within Domiciliary care.…Read More
November 6, 2015
A vendor would normally prefer to sell their shares in the company rather than a trade and asset deal, as they would usually pay more tax – corporation tax on the sale of assets, followed by a second tax charge getting the cash out of the company. A share sale would of course mean just…Read More
November 4, 2015
Ever since April 2002 when a limited company acquires the trade and assets of another business it has been possible to obtain a tax deduction for the goodwill and other intangible assets of the acquired business, generally in line with the accounting treatment. So, if the goodwill of the acquired business was worth say £500,000…Read More
October 26, 2015
Our Halloween Hamper Winner… We are delighted to announce the winner of our Halloween Hamper Draw from the Beds SME Expo is… Dilys Brereton of Home Instead Senior Care. Congratulations to Dilys! We look forward to presenting this to you. Thank you to all of you that entered.
October 21, 2015
Another great day at the Beds SME Expo yesterday at Center Parcs. Thanks to everyone that came to see us. We will be announcing our Halloween Hamper Winner towards the end of this week, so keep your eyes peeled for the lucky winner!
October 14, 2015
According to recent guidance published by HMRC, contractors and freelancers have been bombarded by promoters who make claims that they can help individuals take home up to 90% of their income using a contractor loan scheme. These arrangements artificially divert the income through a chain of companies, trusts or partnerships and pay the contractor in…Read More
October 12, 2015
The Summer Budget 2015 announced that the allowance which reduces the NI liability for companies will no longer be available where the only employees are the directors (one-man bands, husband and wife set ups etc.). This will also be effective from April 2016.
October 7, 2015
Cowley Holmes Accountants will be exhibiting at the Beds SME Expo on Tuesday 20th October 2015 at Centre Parcs, Woburn Forest, Millbrook MK45 2HZ. Come and meet Barry, Kim and Amanda anytime between 9.30am to 1.30pm for a chat and to find out more about us and how we can help you. A warm welcome…Read More
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