01234 355300
August 20, 2015
Q. I have realised that I made a mistake on my most recent VAT return. What should I do? A. You can adjust your current VAT account to correct errors on past returns if the error: was below the reporting threshold (broadly, less than £10,000, or up to 1% of your box 6 figure (up…Read More
August 4, 2015
Barry is participating in a pensions and auto enrolment presentation at the Business Club, Bedford on Monday 10th August. Time: 6.00-9.00pm Location: The Barns Hotel, Cardington Road, Bedford MK44 3SA. If anyone wishes to attend, just email Amanda at We hope to see you there.
July 30, 2015
Q. I personally own a number of buy-to-let residential properties. My son will attend a new school from September and it would be convenient for the family to live in one of those let properties. Can the cost of repairs made to that property while we are living there be claimed as expenses against the rental…Read More
June 12, 2015
Question: Following the relaxation of the pension rules in April I took a cash lump sum from my pension scheme but the pension company deducted tax from the payment. I have no other income in this tax year so I shouldn’t have to pay any tax. How do I get that tax back? Answer: You…Read More
May 15, 2015
A large number of small companies will be exempt from auto-enrolment, if they don’t technically have any “workers” at their staging date. A company director is not a “worker” if he or she does not have a contract of employment with the company. A company with no staff other than directors has no obligations under…Read More
May 12, 2015
The forms P11D and P9D need to be submitted to HMRC by 6 July 2015 where expenses or benefits were provided to your employees in 2014/15, which are not covered by a dispensation, or are not otherwise exempt from tax. If the forms are not submitted on time, HMRC will issue penalties. But how does…Read More
April 30, 2015
We are delighted to announce our Spring Hamper Winner of our Draw from the Beds SME Expo goes to John Yatchisin of Woodfines Solicitors. Congratulations John! Barry presenting John with his prize! Woodfines Solicitors is a long-established legal practice head-quartered in Bedford, with additional offices in Milton Keynes, Cambridge and Sandy. John joined Woodfines last…Read More
April 17, 2015
Another great day at the Beds SME Expo yesterday. Thanks to everyone that came to see us. We will be announcing our Spring Hamper Winner next week, so keep your eyes peeled for the lucky winner!
April 2, 2015
In the recent Budget, further powers have been passed to HMRC to aid them in their efforts to tackle tax evasion and tax avoidance. One such power is the introduction of a “strict liability” criminal offence of failing to declare taxable income and gains arising offshore. “Strict liability” means, essentially, that the act itself becomes…Read More
March 19, 2015
As the Self Assessment deadline has now passed; HMRC will be issuing penalty notices to those who did not meet the legal requirement to file their returns on time. A fixed penalty of £100 will be due for all returns which were outstanding at 31 January 2015. The penalty is no longer reduced where the…Read More
March 4, 2015
Married couples. It’s been a long time since the government announced the introduction of the transferable married couples allowance, but from 6 April 2015 it will come into effect. However, you’ll only be able to take advantage if you and your spouse meet the conditions. Conditions. The transferable allowance can only be claimed if one…Read More
February 10, 2015
Growth is essential to any business. If your firm is not growing then it is losing ground to its competitors. However, rapid expansion carries the risk of making your business unmanageable, more costly and less efficient. Therefore, in order to grow a business effectively it is necessary to plan ahead. On the financial side, you…Read More
February 4, 2015
We are pleased to have conquered another busy successful January, and now we’ve passed the 31st January Self Assessment Tax Returns deadline for our clients we’d like to reveal our new web page ‘Meet the Team’. So click on the following link to read a little bit about us and exactly what we do here…Read More
December 17, 2014
When your property is fully furnished you can claim a wear and tear allowance (10% of the net rents), each year to cover the cost of replacing furniture and furnishings such as carpets and curtains. You can only claim capital allowances for furniture used inside a property which is let out commercially as furnished holiday…Read More
December 11, 2014
If you let out residential property you need to know whether you can receive a tax deduction for the cost of replacing or repairing furniture and fittings provided inside that property. The cost of equipment used to maintain the outside of a property, or used in the communal areas of a building containing multiple dwellings,…Read More
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