A progressive, South West based accountancy practice

Some little (and much larger!!) gems from Andy

Back in the summer we implemented some bespoke tax planning for a client, and this week we were able to confirm that they had saved a whopping £87,596 in combined Corporation & Income Tax savings!

Cashflow can be tight after Christmas, so make sure you review your self-assessment payment on account due in January. A review for one client enabled us to lower the amount they need to pay by £6,250.

Thinking of changing your vehicle in the new year? Make sure you speak to your accountant. By ensuring that one client purchased the correct commercial vehicle we ensured that he will receive a 100% tax deduction this year, saving £4,996 in corporation tax.

Did you know that if a customer doesn’t pay you after 6 months, you can claim ‘VAT Bad Debt Relief’ and claim back the VAT you have previously paid to HMRC? One client didn’t, and now they have an extra £1,701 in their pocket.

We welcomed a new client this week, and within 10 minutes of reviewing their previous accounts we identified tax savings that will pay for half of our annual fees.

Contact us if you’d like us to review your finances – we get a real buzz out of helping our clients!