01234 355300
September 26, 2023
BACK TO SCHOOL – SET UP A TAX FREE CHILDCARE ACCOUNT? The Government’s Tax-Free Childcare Accounts provide a 25% subsidy towards the cost of childcare. The account can be used to pay nursery fees, breakfast clubs, after school clubs and registered childminders. The scheme operates by topping up savings of up to £8,000 per child…Read More
July 21, 2023
In the Spring Budget the Chancellor announced that “full expensing” – 100% relief for new, eligible plant and machinery – would replace the 130% super-deduction from 1 April 2023 for limited companies. This is in addition to the £1 million annual investment allowance (AIA) and will be available for expenditure incurred up to 31 March…Read More
July 20, 2023
With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked. The full rate of new State Pension increased to £203.85 per week (£10,600 pa) from 6 April 2023; a 10.1% increase over the 2022/23 rate as a result of the “triple lock” being restored.…Read More
June 22, 2023
The table below sets out the HMRC advisory fuel rates that apply from 1 June 2023. These are published quarterly these days due to the volatility in petrol and diesel prices in recent years. Where the employer provides an employee with a company car there may be an additional benefit in kind on the provision…Read More
May 4, 2023
Wishing you all a Happy and Glorious Weekend from all the Team 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.
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
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
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
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
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
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
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
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
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
Click here to see how easy it is to switch to Cowley Holmes
Claim your FREE Essential Guide to Understanding your accounts