Posts Categorised: News

Save VAT – Get Your Books in Early

January 31st 2011 is looming. It’s a date that causes consternation amongst business owners and accountants alike. This year though there is a government backed incentive to get your tax return done early! We have talked in the past (see “6 good reasons for early tax return filing“) why it is a good reasons to… Read more »

More Tax Toolkits from HMRC

HMRC are publishing an additional three “toolkits” to help tax payers and tax agents reduce errors in tax returns. The new toolkits cover VAT input tax, inheritance tax and expenses and benefits from employment. HMRC have been at great pains to stress that use of the toolkits is “voluntary” and that they don’t constitute a… Read more »

Furnished Holiday Letting – Good News and Bad News

Many of you will have benefited from a number of items of tax relief over the years if you have property that have been designated as Furnished Holiday Lettings (FHL). Even more of you may have been delighted to hear that the rules were going to extend to properties within the EEA (European Economic Area)… Read more »

Had a letter from HMRC?

It probably hasn’t escaped your attention that the HMRC have been sending out letters, which for some people represent extremely bad news. You owe the tax man some money. Lewis Smith & Co. can’t second guess the contents of those letters nor do we no the circumstances of everybody that gets one but we can… Read more »

Do you have associated companies?

Dudley accountants Lewis Smith & Co. are highlighting a new way by which the HMRC (HM Revenue and Customs) are becoming more aggressive in the way they deal with small and medium sized businesses. The issue is the way the tax man treats the notion of “associated companies”. If separate companies are controlled by people… Read more »

2010 National Minimum Wage Changes

Click here for the latest changes There have been changes to all of the statutory minimum wage levels which could affect you and your employees. As from October 1st the statutory minimum to be paid to a worker is as follows: Aged 16 – 17 £3.64 per hour Aged 18 – 20 £4.92 per hour… Read more »

Rock ‘n’ Roll Accountancy Part 2

You may remember the stunning revelation in May that Lewis Smith & Co. director . Andrew Smith was a member of Stourbridge band “MaDads” The news was leaked in advance of a major gig by the band at Stourbridge, UK’s “Party in the Park” festival. We are pleased to announce that footage and photos from… Read more »