Posts Categorised: News

Self-Build? Reclaim VAT

New builds and property conversions could be a little cheaper The popularity of programmes such as Grand Designs shows that there is an appetite for people to create a home that’s just that bit different. What you may not have realised is that you can get a refund of VAT on building materials and services… Read more »

Charity Begins at “Cardiac Hill”

Lewis Smith & Co. director-duo complete 8.5 fun run Directors Andrew Smith and Craig Beale yet again dragged themselves around the Great Midlands Fun Run recently. The run, which starts and finishes in Sutton Coldfield town centre, is renowned for its “tricky” moments as it traverses Sutton Park including the oh-so steep Cardiac Hill at mile… Read more »

Logistics Client Drives 60% T/O Increase

Making Sense of the Numbers Long standing Lewis Smith & Co. client “Möbile – people.powered.logistics” is reaping the benefits of a modernisation and rebranding programme it started last year. The Birmingham-based company, which was founded 35 years ago under the name Mobile Freight Services, has seen turnover increase by nearly 60% to £4.1m.  That is… Read more »

Concerned about tax inspections?

You don’t have to do anything wrong to be inspected HMRC has the right to investigate your financial affairs whenever it likes. Enquiries can be started entirely at random whether you have done something to arouse their suspicion or not. This means that businesses of all sizes and categories have been subject to investigations of business records,… Read more »

Quarterly Returns

Can you handle it? At the end of last year the government published a corporate report titled “making tax digital” (PDF opens in a new tab), which set out how HMRC would make the tax system “more effective, more efficient and easier for taxpayers”. A lot of what report has to say may be broadly welcomed… Read more »

Directors Loans or Dividends?

Could you save tax? The shake-up of dividend taxation announced in the last budget lead us to to say that the key to tax planning now is to look at “total tax liability”. That means it is worth us introducing a new tax saving angle to consider: using your directors loan account.  It doesn’t apply… Read more »

Employment Allowance – Single Director Companies

£3,000 allowance is not for you You may have seen in our budget coverage that the allowance for employers to set against their National Insurance liability has been increase to £3,000 in this tax year. However if you are the director of a limited company where you are the only employee being paid above the secondary… Read more »

Client Success Update. Impact Metals

Impact Metal Services: Making an impression online It’s time to celebrate another good news story about one of Lewis Smith & Co’s established clients, Rowley Regis based Impact Metal Services Ltd. In 2008, as the financial crisis hit the Black Country’s traditional business hard, the company was close to going under. Eight years later Impact… Read more »