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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While Valentine’s Day is very popular for partnerships of the romantic kind, we’ve been considering those of a more professional nature. While we wouldn’t presume to give advice on matters of the heart, we do know business and would urge anyone thinking of going into business with a partner to consider the pros and cons […]
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Nearly every one of us will make a New Year’s Resolution come January. Often we’ll choose getting fit, eating more healthily or learning a new skill. But for some of us, our New Year’s Resolution is about becoming our own boss. In fact, of the hundreds of thousands of new businesses that will be set […]
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With exactly a week to go until the big day, it is time for us to wish all of our clients a very Merry Christmas and a Happy New Year. It has been another successful year at Lewis & Co, with lots of new exciting business start-ups and some more established businesses becoming clients. We […]
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