Posts Categorised: News

Record Returns Returned

Everybody crossed the line on time In another record-breaking year Lewis Smith & Co. succeeded in getting all of its clients self assessment returns filed ahead of the January 31st deadline. In fact this year there was  noticeable increase in people providing their paperwork well ahead of time.  That has its benefits for both parties… Read more »

HMRC Advice on Phishing

HMRC Guidance on Recognising Bogus Emails. Most of you will have received “phishing” emails that try to trick you into providing personal or financial information. They range from the faintly ludicrous Nigerian bank account stories to fully branded, personalised messages that are hard to distinguish from the real thing. Emails that appear to come from… Read more »

National Minimum Wage 2016

Are you ready for the big rise?  The national minimum wage rises by 50p in April this year from £6.70 to £7.20 for people aged 25 and over. The government has softened the blow for small businesses by a 50% increase in the National Insurance contributions (NICs) employment allowance, which rises to £3,000 per year…. Read more »

Happy New Year

How to start 2016 The last cork has popped on the bubbly and the Christmas decorations have come down. There’s a New Year to look forward to starting with… Tax returns.  Or to use the proper terminology “self-assessment tax return”. Remember that the online forms for the 2014-2015 tax year must be completed and filed… Read more »

Christmas Office Times

Happy Christmas from Lewis Smith & Co. Just to let you know that our team are recharging their batteries over Christmas ready tax return time in the New Year. Our offices will be closed on Wednesday 23rd December 2015 and reopen on Monday 4th January 2016. Have a wonderful festive season and lets all look… Read more »

Autumn Statement 2015

What West Midlands small businesses need to know George Osbourne’s latest Budget made the headlines primarily for the change in tack on tax credits.  Improved forecasts on the state of the public finances have allowed the planned cut in credits and some of the proposal to reduce police spending to be dropped. There were still… Read more »

R&D Tax Credits – It could be you.

SMEs are missing out on an important tax break Believe it or not HMRC is keen for you to claim tax relief on research and development costs if you are a small or medium-sized business HMRC has recognised that many SMEs have either not seen the tax saving opportunity or haven’t believed that they would… Read more »

VAT Registration

Are you over the compulsory VAT registration threshold? You must register for VAT with HMRC if your VAT taxable turnover exceeds the registration threshold (currently £82,000) in any 12-month period. Registration is also compulsory if you expect to go over the threshold in a single 30 day period. If you believe your VAT taxable turnover is… Read more »