Blog

Celebrating the Coronation of King Charles III

May 4, 2023

Wishing you all a Happy and Glorious Weekend from all the Team at Cowley Holmes.

Happy Easter from all of us here at Cowley Holmes

April 6, 2023

Our Office will be closed for Easter on Good Friday 7th April and Easter Monday 10th April. During this period messages can be left on our answer machine by calling 01234 355300 or email mail@cowleyholmes.co.uk and we will get back to you from Tuesday 11th April onwards. Have a wonderful long Easter weekend.

Farewell and good luck to Armando

March 20, 2023

Next week we say goodbye to our team member Armando who has been with us since 2017.  Armando also completed his work experience with us back in 2010 so he has become part of the furniture here at Cowley Holmes! He’ll be missed in our office. Armando will be continuing in the profession and working…Read More

Spring Budget

March 16, 2023

On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages. Below we set out some of the main points. COST OF LIVING SUPPORT Energy Costs The Energy…Read More

Advisory Fuel Rate for Company Cars

March 14, 2023

The table below sets out the HMRC advisory reimbursement rates for employees’ private mileage using their company car from 1 March 2023. Where full reimbursement is made there is no taxable fuel benefit. The rates for the previous quarter, if different, are in brackets. Engine Size Petrol Diesel LPG 1400cc or less 13p (14p)  …Read More

Year end Tax Planning

March 13, 2023

It’s not too late to undertake some end of year tax planning. If you have available funds, an obvious tax planning point would be to maximise your £20,000 ISA allowances for the 2022/23 tax year. You might also want to consider increasing your pension savings before 5 April 2023, if you have available ‘pension annual…Read More

Penalties for careless and deliberate errors

March 10, 2023

As well as charging interest on tax paid late, HMRC may also levy a penalty where there is an error in a tax return. These penalties may be judged as careless or deliberate and the level of penalty will also depend upon whether or not; This matter is topical following the recent sacking of the…Read More

“Nudge” Letters from HMRC about R&D Claims

March 9, 2023

Following on from the alleged abuse of the Research and Development (R&D) tax relief schemes, particularly the SME tax credit scheme, HMRC have issued “nudge” letters to the directors of over 2,000 claimant companies asking them to check their claims. Here is an extract from the letter:- “As Company Director, it’s important you submit accurate…Read More

Will the Spring Budget stimulate economic growth?

With the UK economy flat lining the Chancellor is under pressure to announce measures to stimulate growth. There are even calls for him to cut corporation tax which is scheduled to increase from 1 April 2023. He may possibly extend the 130% super-deduction for investment in new plant and machinery which is due to end…Read More

Thank you for your Business in 2022

December 15, 2022

Wishing you all a Merry Christmas and a Prosperous 2023 CHRISTMAS OPENING HOURS Please note the office will be closed on Friday 23rd December at 12 noon to Tuesday 3rd January.  During this period, messages can be left on our answer machine by calling 01234 355300 or email to mail@cowleyholmes.co.ukWe will reopen as normal on Tuesday 3rd January…Read More

Thank you to Bedford Blues

November 21, 2022

Back in September this year, we were delighted to be celebrating 30 years of Accounting and Tax Advice in Bedford, first opening the doors of Cowley Holmes Accountants on 1st September 1992. Mike Rayer of Bedford Blues very kindly gifted us this fabulous signed Bedford Rugby shirt to celebrate the occasion. Now that we’ve had…Read More

Tax Increases and Public Spending Cuts

November 18, 2022

The new Chancellor Jeremy Hunt had warned the public and the financial markets that his Autumn Statement would include “eye-watering” cuts in public spending and tax rises for those with the ‘broadest shoulders’. Unlike the ill-fated Fiscal Event of 23 September, the Government “rolled the pitch” this time with several leaks prior to the event.…Read More

U-Turns to Steady the Financial Markets

November 3, 2022

In his Fiscal Statement delivered on 23 September 2022, the previous Chancellor, Kwasi Kwarteng, introduced a Growth Plan including the tax cuts promised by Liz Truss in her Conservative Party leader campaign. However, the tax cuts were broader than expected and were being funded by increased borrowing. Furthermore, the plan was not accompanied by a…Read More

Cowley Holmes 30th on the 30th!

October 6, 2022

On Friday we celebrated in true 90’s style, bringing it back to 1992 when Barry started up Cowley Holmes 30 years ago! Congratulations Barry from all the team, and thanking you for a fun-filled evening.

The Chancellor’s Mini Budget in Summary

September 30, 2022

TEAM TRUSS CUT TAXES TO STIMULATE THE ECONOMY On 23 September 2022, Kwasi Kwarteng, the new Chancellor (the fifth in as many years) delivered a Tax Cutting “Fiscal Event” or Mini-Budget to help boost economic growth. This was in line with promises made by the new Prime Minister Liz Truss when she was campaigning to…Read More