As a business owner, you may already be aware of ‘Making Tax Digital’, but are you aware it has now been extended to 2024? Unfortunately, as a result of this extension, people are simply putting it off for longer when now is the best time to be putting everything in place ready for when the deadline hits. Why not start your preparations? What does Making Tax Digital mean? Making Tax Digital is part of a […]
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There are a number of day-to-day running costs associated with owning a business, but did you know if you’re self-employed you can deduct some of these costs if they are considered allowable expenses? Once these costs have been deducted, you can work out your taxable profit. For example, if you turn over £50,000 each year and you claim £15,000 in allowable expenses you will only pay tax on the £35,000 that remains. This is what people […]
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Making the decision between becoming a limited company or a sole trader is one that shouldn’t be taken lightly. If you are in this situation, you should seek expert advice and think carefully. All too often, people are faced with a VAT threshold of £85k turnover and automatically assume they ought to become a limited company. This is not always the case! So, before you jump to a conclusion you may regret, let us share some […]
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We all have a number of responsibilities in life. If you’re a parent, raising your child to be a good human being is one of them. If you’re a business owner, ensuring your staff have access to the tools they need to do a good job is another one. But did you know whoever you are, and whatever role you’re in, you are the one that needs to stay up to date with your tax code. […]
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If you receive income from residential lettings then you need to declare it on your tax return. Yes you do! No arguing! We often hear people saying “but my husband declares the income on his so I don’t”, yet they own the property together. Unfortunately, this isn’t the case. Do you personally own a property which creates an income? If you do, you’ll need to declare it on your tax return and you’ll be charged […]
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We know accounting can be a daunting subject – and one of those things people often put to the bottom of the pile. We thought we would explain some common accounting terms – ones that might seem tricky but are actually simple when you understand them. 1.What is accounting? Let’s start with the basics! Accounting is the way we record, assess and communicate financial transactions and the process of keeping financial accounts. 2.What is […]
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At KEW Accountants, we love that every client is different and has unique accountancy needs. We offer a fresh approach and help with business accountancy, personal accountancy and tax advice and planning. We provide a huge range of services to a wide variety of clients all over the UK – we are based in Telford but that doesn’t stop us working with clients further afield. These include small and medium sized businesses, part-time businesses, start-up businesses, […]
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Happy New Year to all our customers and clients!! But, of course, it’s not the New Year for tax purposes but instead it’s getting towards the end of the tax year! At KEW Accountants, we offer tax advice to help you make the most of tax planning opportunities so you can keep more of your income perfectly legally! Here are our top 10 tips to make sure you are claiming for everything you can on […]
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The Basics of Good Bookkeeping When starting a new business, bookkeeping can seem like a daunting task but that’s where Kew Accounts here in Telford can help you. We aim to put you in control of forecasts and make your business work for you. We offer advice on cash flow forecasts and ‘what if’ scenarios. We can also offer advice on systems that can make your business run more smoothly and can often reduce accountancy bills. […]
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Yes it’s that time of year again when you need to make sure you are ready to file your self-assessment tax return. Don’t leave it to the last minute. We at Kew Accountants are here to help! When do I need to submit my tax return? The deadline for paper tax returns was October 31, 2021 but if you’ve missed that date, don’t worry as you have until January 31, 2022 to submit your return online. […]
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KEW Accountants and Tax Specialists Ltd
Granville Suite
Business Development Centre
Stafford Park 4
Telford
Shropshire
TF3 3BA
t: 01952 216872
e: info@kewaccountants.co.uk
Co Reg: 08882654
VAT No: 180 5947 85