£26,266.49 – tax savings – this year alone, by setting up a client as a limited company and bringing his wife into the business.
£2,485.32 – tax refund – secured for a struggling business within two days of being appointed by Numbers.
£852 – reduction in tax bill – after asking a few questions of a new client, some expenses that they never knew were tax deductible (and weren’t discovered by a previous accountant) have been identified.
£951.80 – tax rebate – by identifying allowable workplace expenses & utilising partnership loss.
£739.20 & £152.36 – tax rebate (2016-17 & 2018 Tax returns) – by utilising partnership losses against tax already paid.
£69.00 – originally £230 tax bill – but after talking to the client, we identified items to bring the tax due down.
£696.81 – reduction of PAYE payable – by correcting previous accountant’s historic payroll submissions.
£3,778.74 – tax saving – by reducing payment on account as we looked forward to next year’s income and adjusted POA accordingly.
£1,377.74 – tax saving – by reducing payment on account as we looked forward to next year’s income and adjusted POA accordingly.
A new client came to us in a highly agitated state. Their accountant contacted them last week with a pile of queries over their accounts, due at the end of the month. Furthermore, without accurate figures, their Tax Credits payments would stop, dropping them into very deep financial trouble.
Steve met with them and we completed the regulatory requirements in record time. Two days later and the accounts were finished, and Steve delivered the great news that tax refunds of over £2,400 were headed their way! Our new clients slept well that night for the first time in ages, and now want Numbers (UK) Limited to help them recover from a downturn in their business.
Becca saved our clients £2,589.92 on their personal tax payments on account due to recognising that their income will be lower next year. That way they are keeping their money to themselves instead of loaning it to HMRC for a year!
What could you do with that extra this year? Keeping us in the loop could help save you money – so keep in touch, the kettle is always on!
A client has recently been having a lot of health issues so getting a corporation tax and self-assessment letter through the post made her panic. Becca was able to reassure her that the corporation tax was not payable and gave her advice on what she could do to make her tax bill, as well as our bill, as low as possible – and now we are able to provide her with a refund that more than covers what we are charging, making her very happy!
Don’t ever sit at home worrying – give us a call and we will do everything we can to help.
We’ve recently reviewed the income streams of a new client and having run through a full tax diagnostic for the family we have identified annual savings in excess of £5,700. That goes a long way towards the family goal of saving £500 a month to overpay their mortgage.
Do you have any personal goals you’d like to achieve? We might be able to help – come share them with us over a coffee.
Last year we reorganised the shareholdings within a family owned business. The outcome? £8,700 less income tax payable to HMRC this month.
Have you reviewed the ownership of your business within your family? If not, get in touch.
In 2018 we helped a local business to set up a tax efficient share option scheme for its key employees. As the business smashed its targets, we had the pleasure of being able to issue shares valued at £7,500 for only £30.
If you’re looking to tie key employees into your business share options are a great incentive. Get in touch if you’d like a chat about the options available to you.
Andy’s contributions were in the AAT’s quarterly magazine (and in last quarters too!). Here’s the cover of the article. Signed copies are available through his agent…..
Becca saved our client £61,187.96 in VAT this quarter by changing them from the accrual to cash VAT scheme. This meant that the VAT charged on their client – who is no longer in business and wouldn’t pay – which normally wouldn’t be claimed for 6 months with bad debt relief, came in early!
Sometimes you save money by not doing (the wrong) things. Steve met with a lady who has been appointed a trustee of her mother’s new trust. She needed guidance on who were the beneficiaries, so she could avoid making payments to the wrong people and incurring personal liability for her mistakes.
Steve was able to explain the difference between trustees and beneficiaries, so now she can manage the trust with confidence.