Blog

Effective Due Dilligence

20th October 2017

Numerica is pleased to have undertaken a successful financial due diligence process on behalf of some private investors, looking to acquire Compressed Air Centre Limited, helping them achieve the best price for their acquisition. The acquisition has now been successfully completed, and we wish the new owners of Compressed Air Centre Limited every success in its future growth. Compressed Air Centre Limited supplies air compressor units, servicing and consultancy to a number of businesses...

Pay more tax on your Letting Income

27th May 2017

For individuals who let properties, finance costs such as mortgage interest paid, will no longer be a tax deductible expense in arriving at your property rental profit that is taxed. Instead, HMRC will give a tax reducer of 20% to reduce your tax bill by the amount of the relevant finance cost. The new rules are being phased in over this and the following 3 tax years. This means that not only will higher rate (40%) tax payers pay more tax, as they will now only get half of the...

Dividend Allowance from 6th April 2018

9th April 2017

The chancellor Philip Hammond announced a decrease of the tax free dividend allowance, from £5,000 to £2,000  effective from 6th April onwards. When the dividend allowance was first announced a couple of years ago (as a way of fending off complaints about the extra 7.5% dividend tax), those in the know new that this would later decrease, or even disappear at the whim of the government. Well, that didn't take very long at all!

Leaving the Flat Rate VAT Scheme – Low Cost Traders

17th March 2017

Businesses that are deemed to be "low cost traders", which means those that: Spend less than 2% of their turnover on consumables/stock/leasing equipment (and more than £1k) annually; Will pay 19.98% VAT on their net sales to HMRC, with no deduction for VAT on their purchases. In this scenario, the businesses that meet the definition of "low cost trader" should either de-register from VAT entirely (if they are below the VAT de-registration threshold), or alternatively, leave the VAT...

Extra taxes on Dividends

15th March 2017

There has been a lot of news recently, about National Insurance going up for the self employed, with many crying out and the government back-tracking. However, the extra dividend tax should cause an even larger out-cry, as it is a 7.5% tax rise, not just 1 percent like the extra national insurance. I've just advised some clients on their higher tax bills. For someone taking £100k income each year (small salary, large dividend), their personal tax bills are now £7k higher than they...

Tighter rules on Entrepreneur’s Relief

22nd September 2016

Entrepreneur's Relief enables qualifying business owners to pay less than 10% tax on the closure or sale of their business, and any related property. However, the Finance Bill 2016 which received Royal Ascent earlier this month, has tightened the rules, such that this is now only available where the business owner is no longer associated with the same type of trade for at least 24 months. This particularly affects property development companies, where each development itself is usually just a...

Guildford Kashflow Accountant

1st September 2015

We have been registered accountants with Kashflow since 2012. If you are looking for an accountant in the Guildford area that knows Kashflow well, then you have come to the right place, do please get in touch with us. We look forward to hearing from you. There are very few accountants in the Surrey, and Guildford area, that are registered accountants/advisers for Kashflow, we are one of them.

Merging Income tax and National Insurance

18th August 2015

The merging of national insurance and income tax has been discussed for the last few years by HM Revenue & Customs and others. The way forward on this has now been made easier as dividends will be taxed at a higher percentage rate now, similar to that of national insurance rates for the self-employed. Other sources of income that are taxed at a lower rate are: bank interest and property rental income. Bank income won't be too difficult to add extra tax to, since most bank interest...

Guildford Sage Accountant

7th August 2015

Are you looking for an accountancy firm that is an expert in Sage bookkeeping in Guildford, Surrey? Well you've come to the right place! If you are looking for an accountant in Guildford, Surrey, who knows and uses Sage a lot, do please give us a call: 014483 342 545. We are members of the Sage Accountants club.

Guildford Quickbooks Accountant

6th August 2015

Are you looking for an accountant that knows Quickbooks in Guildford, Surrey? Then you've come to the right place! If you are looking for an accountant in Guildford, Surrey, who knows and uses Quickbooks, do please give us a call: 014483 342 545. We are Quickbooks Pro Advisors.