A Bookkeeping and Accounting Service you can rely on.
Traditional and Cloud Accounting Specialist.
Trust
Qualified Practicing Member of I.A.B. & Iaap assures you that we are up to date with changing Legislation that can effect your business.
Experience
Over 30 years experience working within private practice and the corporate sector covering many different industry types and entities.
Professional
What we Do
Individual & Corporates Accounting Services
Bookkeeping and Accounts Preparation for
Sole Traders – Partnerships – Limited Companies.
Limited company formation with registered address facility
Payroll services
Self Assessment / Personal Tax Account.
C.I.S. Construction Industry Scheme Tax Refunds.
Management and Cashflow Preparation.
Independent Examination for Charities.
Need to Raise Finance ?
I.A.B. Funder Finder – Alternative Business Funding
Cloud Accounting Software
NEWS: UPDATED
Autumn Budget 2024
Employer NIC
Employer NICs raised by 1.2% points to 15%, effective April
2025
The thresholds been reduced from £9,100 to £5,000
Employers allowance has increased from £5,000 to £10,500
Employee
Income Tax NIC to remain as previous
Income tax thresholds to remain at £12,570 until 2028
The last allowance increase was £70 in 2020/21 tax year
2019/20 £12,500
CGT
Increase capital gains tax: the lower rate will rise from 10% to 18%, and the higher rate from 20% to 24%
Carried interest tax rate to 32% April 2025
BADR to remain at 10% to April 2025 & 14% 2025/26
IHT
Extend the inheritance tax threshold £325,000 by two years to
2030.
From April 2026, the first £1m of combined business and agricultural assets will remain exempt from inheritance tax; for assets over £1m, a 50% relief will apply at an effective rate of 20%
Close loophole by bringing inherited pensions into inheritance tax from April 2027
SDLT
Reform stamp duty by increasing the levy on second homes from 3% to 5%
Other
ISA allowance to remain – Brit ISA has disappeared
April 2025 Double cab pick ups to be treated as cars
Spring Budget 2024
NIC
Class 1 employee NICs from 10% to 8% from 6 April 2024, and a further cut of 2 pence to the main rate of Class 4 self-employed NICs from 6 April 2024, taking this to 6%. Alongside these cuts, the government announced that it will consult on Class 2 NICs abolition later this year.
Child Benefit
The government has announced it will raise the HICBC income threshold from £50,000 to £60,000 from 6 April 2024, the taper will be extended up to £80,000. The government intends to move to a system based on household income.
CGT
The Government will legislate to reduce the higher CGT rate for residential property disposals from 28% to 24% after the 6th April 2024. The lower 18% rate remains unchanged.
Furnished Holiday Lettings
The government intend to repeal the current rules for FHL for individuals and corporates from April 2025.
UK ISA
A new UK ISA allowance with a further £5,000 allowance to be introduced.
Vat
The VAT threshold to increase to £90,000 from 1 April 2024
De-registration to increase from £83,000 to £88,000
NEWS
Tax is going digital…are you ready?
Whether you are an existing small business or presently preparing to start a new business, you may require an Accountant or Book-keeper due to the forthcoming HMRC initiative of “ Making Tax Digital “ now on the horizon.
Now is the time to future proof your bookkeeping and accounting strategy. Eventually traditional paper based accounting will become a thing of the past.
The banking industry and commerce in general, have in the past few years began to steer their client base away from paper invoices and statements in favour of electronic communication.
HMRC and MTD in time will be taking this process further to what we now know as “ cloud accounting “, this will ultimately mean that your accounts software will communicate directly with HMRC’s computers, and taxation estimates could be produced quarterly coming onto your personal tax account, which will be replacing the self assessment regime.
To find out more about the benefits of cloud accounting click on the Cloud Accounting Software link or call us today.
“Great cost effective service highly recommended…“
“Thanks to Kevin my books are now straight as he has helped me over the years how to diarise and keep records – He is diligent in his work and I owe him so much gratitude for all his help. Excellent flawless service.”
“At last I can now devote a 100% to growing my business KJS takes care of everything, fantastic service.“
If you have any questions, just get in touch with us via any of the details below, or complete the short form and we'll get back to you as soon as possible.