Pictures in the Post – The Birmingham Post

Lewis Smith & Co., leading Dudley accountants, were delighted that news of the fantastic Black Country photos adorning their website has reached beyond the Black Country into neighbouring Birmingham.

Lewis Smith press releaseThe Birmingham Post ran a half page feature on the photo collection, taken by award winning photographer Martin Brent, and included a great shot of Martin plus Lewis Smith & Co. directors Andrew Smith and Craig Beale posing in front of Cobbs Engine House on the canal in Netherton.

Andrew Smith commented “The interest generated by these pictures has been really gratifying. We are proud to serve the Black Country business community and delighted to show off some of the area’s hidden gems.”

Find out more about Lewis Smith & Co’s range of accountancy, taxation and business planning services or contact us directly for a free initial consultation.

Lewis Smith & Co – Accountants for Dudley, Wolverhampton, Walsall and beyond.

Two houses? Tell the taxman!

If you do have two properties then it is very important to let HMRC (HM Revenue and Customs) know as part of your CGT (Capital Gains Tax) planning.

You probably know that your main residence is exempt from CGT. You may not have been aware of a couple of other useful pieces of information.

  • Firstly if you have more than one property that is “owned and available” then you can specify any one of them as the main residence as long as you provide evidence that you have used it as a residence (e.g. Council Tax payments.
  • Secondly you may be able to gain special CGT property relief because HMRC will count the last 3 years of ownership as though it was main residence even if it wasn’t, at the point of disposal.

If you don’t make HMRC properly aware in a timely manner then they can choose to ignore subsequent claims for main residence relief when you come to sell a property.

CGT on property can become complicated if you have to switch main residence status frequently becuase of, say, work committments or you own rental properties.

If you need advice on Capital Gains Tax issues then call us today on 01384 1384 235549 for a free initial consultation with one of our experts.

Lewis Smith & Co. – Dudley accountants

Lewis Smith & Co. Fire Up Big Acquisition!

Craig Beale, Lewis Smith & Co. partner and M&A expert, has just helped 2 Black Country entrepreneurs in a million pound acquisition of a leading player in the Automatic Sprinklers market.

Simon Jesson and Richard Pipe had been planning to acquire Fire Security (Sprinkler Installations) Ltd more than a year ago but found themselves struggling to complete the transaction because of a combination of the credit crunch and inertia from their existing advisors.
Fortunately Lewis Smith & Co., the Dudley based accountants, was recommended to them by Lloyds Bank as an alternative. It only took a couple of meetings with Craig to convince the entrepreneurial duo that Lewis Smith & Co. had the “right stuff”.

Simon and Richard commented. “We needed some straight talkers who would fight our corner and just get on with the job. Craig explained what Lewis Smith & Co. would do for us without any jargon and then delivered on his promises. We are really comfortable working with them”

Lewis Smith & Co. performed all of the financial due diligence for the deal and used the firm’s extensive contacts in the finance sector to help the partners to find affordable funding. What made the real difference though was Lewis Smith & Co’s determination to get the deal completed.

As Craig explained “Whenever an objection was raised or another obstacle appeared we took the initiative and sorted things out. We helped raise the money and did a fair bit of handholding of the vendors to keep them on track. Of course it did require some team work and we must acknowledge the contribution of both Lloyds and Talbots Solicitors to making the transaction happen. ”

Fire Security is now on track for ambitious growth with Lewis Smith & Co. providing continued support with monthly management accounts and the provision of a pay roll service. With Simon and Richard’s drive and their knowledge of the industry the future is burning bright for Fire Security!

Lewis Smith & Co. – Stourbridge accountants

Check out our contact page for email and phone details.

Lewis Smith & Co. get snapping in Netherton!

You might have noticed that our website is adorned with some rather nice photographs of the Black Country.

Well other people think they are pretty good too. So today we have had the slightly strange situation of having Andrew Smith and Craig Beale from Lewis Smith & Co. along with award winning photographer Martin Brent all being photographed by a press photographer in Netherton with Cobbs Engine House as a back drop!

Maybe you will see us in the local papers and it might be worth reading the article carefully – we have a surprised planned.

Lewis Smith & Co. – Acccountants for Netherton

The Tax Man Cometh! HMRC investigations on the rise.

The HMRC (HM Revenue and Customs) is getting tough as it seeks to maximise the collection of tax revenue in the face of the recession. According to the Times Online it doesn’t take too much to trigger an investigation by Revenue Inspectors. Mistakes in tax returns, large changes in income or the pattern of expenses could be enough to make it happen.

The problem for small businesses, in particular, is that justified or not these investigations could cost you time and money.

Fortunately Lewis Smith & Co., the Dudley based accountancy firm, can help. Our Fee Protection Service covers all of the specialist professional fees that would accrue from an investigation and we will handle all of the dealings with the HMRC.

Check out our services page for more information or give us a call on 01384 235549.

Lewis Smith & Co. – providing accountancy services to Dudley, Wolverhampton, Stourbridge and beyond.

Lewis Smith & Co. go Flickr

We have decided to set up a Lewis Smith & Co. Flickr account to show off our award winning photos to a wider audience.

Flickr provides a place to host and share photos and videos with the world and apart from our pics there are a variety of others from around the Black Country and beyond.

Check the pictures out and explore for yourself.

We can offer you a range of accountancy, taxation and business planning services

Lewis Smith & Co. – Accountants for Kingswinford, Wombourne and Brierley Hill

Thank You Darling

Well despite the economic turmoil the Chancellor has managed to delivery a budget that appears to be relatively neutral, except for the highest earners.

Budget Summary

Here are the high points (or low points depending on your perspective).

  • Tax on alcohol and tobacco, and fuel duty all up.
  • Scrappage scheme introduced to provide a £2,000 incentive to trade in 10 year old cars and buy new ones.
  • 50% income tax rate to be introduced in April 2010 for people earning more than £150,000.
  • Tax relief on pensions reduced for people earning more than £150,000 by April 2011.
  • Over 50s get a rise in the annual limit for tax-free ISAs to over £10,200 in April 2010.
  • Forward investment encouraged as the capital allowance rate doubled to 40%.
  • Extension of the carry back period for losses introduced. Offers the potential for loss-making companies to reclaim taxes paid in the last three years through tol November 2010.

The Lewis Smith and Co. perspective is that the devil is in the post dated detail! This government has become a past master at setting budget time-bombs that are primed to go off well in the future and work in combination with very reasonable sounding measures to create rather more menacing fiscal monsters.

We will keep you posted as we spot them.

To find out how Lewis Smith & Co. can help you make understand the impact of the budget on your business then give us a call on 01384 235549 or email at

Lewis Smith & Co. – Accountants for Sandwell businesses

Black Country pictures from Lewis Smith& Co.

The suite of photographs taken by award winning photographer Martin Brent to brighten up our new website have attracted great interest and great praise from many people. The pictures show off some interesting perspectives of the Black Country with images from Dudley, Stourbridge, Netherton and Brierley Hill amongst others.

To make sure that you can see more of the photos we have set up an account on the Flickr photo sharing site.

In the meantime here’s a couple for you to check out from Brierley Hill and Netherton.

Locks Brierley Hill

Stourbridge iron bridge

For more information about how Lewis Smith & Co. could help your business then give us a call on 01384 235549 or email on

Lewis Smith & Co. – Black Country Accountants