Only a few weeks ago, we were reminding our clients to submit their self-assessment tax returns and the team at Lewis & Co was busy tying up any loose ends to make sure everyone hit the 31 January deadline. Now we find ourselves close to the end of yet another tax year. With that in […]
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Managing Director Gary Cornwell has been with Lewis & Co for over 16 years now, having originally visited for work experience while still at school. “Looking back, I was really lucky with how the team at Lewis & Co supported me during those two weeks, particularly the then Managing Director Barney Lewis,” says Gary. “I […]
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If between 6th April 2018 and 5th April 2019 you earned untaxed income, such as that from a rental property or from a self-employment, you will need to file a Self Assessment Tax Return with HMRC. The online Self Assessment Tax Return which you will be required to complete is due for submission to HMRC […]
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When someone mentions Santa and the season of goodwill, Her Majesty’s Revenue and Customs doesn’t naturally spring to mind. Just to prove us wrong however, every year HMRC allows businesses to spend up to £150 per employee on entertainment, completely tax free. Whether your business is large or small, this allowance means the festive fun […]
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1st October 2019 was set to see the introduction of a new VAT accounting process affecting the relationship between Contractors and Subcontractors within the Construction Industry Scheme. However, this has been pushed back until October 2020. What is the reverse charge? To summarise, the ‘reverse charge’ as it is known, means that the customer receiving […]
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How To Reduce Your July Tax Payment By Getting This Year’s Tax Return In Early A lot of clients would like their 2018/19 tax return completed this month in case it can help reduce their July tax payment. How does that work, I hear you ask? If you’re self-employed or run a business, you will […]
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In this day and age it is imperative that business owners know exactly how their business is performing on a regular basis, and which areas are outperforming others. More than ever before, we are finding that an increasing number of our clients are taking a much keener interest in their business, particularly the financial side […]
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We’re very much at the beginning of the new financial year and you’re probably feeling as if you have all the time in the world to file your self-assessment tax return. You may even be one of the 735,258 taxpayers who filed their last tax return on 31 January this year, just hours before the […]
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You’re probably beginning to read and hear the phrase Making Tax Digital more and more. In a nutshell from 1st April 2019 HMRC will be rolling out its Making Tax Digital (MTD) initiative. Announced in the Spring 2015 Budget, HMRC is replacing the old tax system for businesses and individuals with digital tax accounts. Everything […]
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With the 2018/19 year end just around the corner, now is the perfect time to consider the many ways you can reduce your tax bill, whether for the current financial year or for 2019/20. It’s amazing how quickly 5th April approaches, so now is an ideal opportunity to sit down with your accountant to discuss […]
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