Following an appeal submitted on 26th November last year to HMRC to remove a penalty that was wrongly applied, Becca finally had confirmation today that the penalty has been lifted and the monies returned to our client account. Took a while but we got there in the end!
Danny has recently saved one of our newer clients some tax by reducing the amount of tax due at 40% by proactively enquiring about their pension payments and utilising the increased basic rate band available because of this.There was also a further saving for an element of interest on a loan that was not considered by their previous accountant.
Overall, the tax saving was around £1500!
Steve has managed to secure a tax refund for a company client. Investigating the motor expenses in the draft accounts, Steve discovered that three new vans had been acquired during the year and a deduction for the full cost was made using capital allowances rules. This created a loss which was “carried back” against last year’s profits.
The result is one happy client; no tax to pay and a refund of over £2,000 to help them through this COVID-ravaged period.