A progressive, South West based accountancy practice

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Adding value in the “ordinary”

Accountants do accounts right? It’s in the name, but does your accountant ever let you know when they spot improvements to your business. We spotted an unpaid sales invoice while preparing a set of accounts for a client. They are now over £700 better off as they’d forgotten to chase the debt!

Penalties removed

Lindsey is becoming an expert in getting penalties lifted. Several clients have benefitted from her work in getting late filing penalties removed by Companies House, and HMRC recently. This includes one client who simply paid HMRC £200 when they sent the demand, even though his company didn’t need to file the tax return on which the penalty was levied.

Resetting the foundation

Mo has had a summer to forget (a bit like Her Majesty Queen Elizabeth 2nd). She has been sued by a co-venturer (who had to walk away when we pointed out the fantasy nature of his claim!) and needed to simplify her business structure. We met with Mo and one of her (good) business partners to clear up the final queries before implementing the restructuring plan. She now has a plan to cut costs and simplify her business interest, that should help her sleep at night.

If life has got more complicated than you thought, and you need help to set a recovery plan, then get in touch.

We are all about “Making Lives Better” and can help you define what that means – showing you how to get to your own, personal “better”.

CONGRATULATIONS!

Our clients continue to expand! Congratulations to Ollie and partner on the birth of their baby girl.

Oh, and well-done Ollie on recruiting your new Business Development Manager this month too!!

GET WELL SOON!

‘Get well soon’ to Geoff as he recovers from recent surgery; clearly his hospital had Wi-Fi as he was replying to emails last week!

Mistakes by HMRC

A widowed client received a penalty notice for not filing her tax return on time; she didn’t actually need to file a return and today our appeal was accepted by HMRC.

Sometimes, it’s good to do yourself out of work!

If you feel you may have been unfairly penalised by HMRC, get in touch, and we’ll see if we can help – it’s what we like to do!

Research and Development

Spotting opportunities is something we are good at. A client developed an eco-friendly way of constructing his main product. 

Using recycled plastic ticked a lot of boxes on his R&D claim, and this week we heard that HMRC had agreed the claim, saving him over £19,000 in corporation tax.

If you have a good idea or have invested time and money in it within the last two years, we may be able to get HMRC to contribute to the funding! (This only applies to limited companies, so the past may be closed off to you, but what about the future?)

Desk space available

Ready to branch out from home, or wanting a new, fresh office to work in?

We have some spare capacity in our smart offices (images below) with a range of flexible options, in a convenient location in Plymouth.

Ranging from a simple desk with power and internet, to a fully serviced office arrangement, we can offer attractive terms for aspiring businesses looking to separate work from their home life.

Rentals start from as little as £30 per week, so there’s no reason not to come and have a look. With no long-term contract (unless you want it!), you can come and try it out for a few weeks/months before committing long term. Even then, just one month’s notice will be required, and we don’t take a deposit, so you can flex your office space to suit your business needs.

With adequate parking in an easy to reach location, what’s not to love?

Using technology to work smarter

Steve saw a potential new client who wanted to get his tax affairs in order before he moved overseas for work for the next three months. Using our technology, we have been able to quote and sign him up in one afternoon. Client due diligence can all be done electronically, so we don’t need copy passports, driving licences or utility bills; all good news for a client who has better things to do with his time. If you want an accountant who knows how best to use technology and can help you maximise your own productivity, give us a call.

A trip down memory lane

Jane came in to see Steve about two years ago, asking for advice on the Capital Gains Tax aspects of a proposed gift of a house to her daughter. That gift now needs to be reported and Jane asked Steve to assist with the calculation of the final tax bill. Using his knowledge of the CGT rules, Steve was able to let he know how much tax would be due, and suggests ways in which the tax could be deferred or even eliminated entirely.

CGT is currently an optional tax, so if you’d like to know more about how to defer or eliminate it, either before or after the event, get in touch.