Latest News from Davies Archytas Accountants Redditch
Stay up to date with accountancy news, events and key insights from within the financial & accounting industry from Davies Archytas, Redditch based Accountants.
Please check out our Facebook news feed below for all our latest accountancy news updates.
Costs relating to cars, vans and travel #expenses are all allowable, unless they’re not related to the business, for example your commute to work or when you’ve been fined, perhaps for a speeding or parking misdemeanour.
#travelexpenses #accounts #Taxreturn #tax #companyexpenses
A word of warning about scams
HMRC have made us aware of recent increases in scam phone calls, emails and texts. If someone contacts you or your employees claiming to be from HMRC saying that you owe tax and face arrest, are due a tax refund, that your National Insurance number has been compromised or asking you to transfer money or give bank details, it is likely to be a scam.
Search GOV.UK for the HMRC 'scams checklist' and to find out how to report tax scams - www.gov.uk/guidance/identify-hmrc-related-scam-phone-calls-emails-and-text-messages
We hope this information helps you and your business, and we’ll continue to keep you updated.
#taxscam #accounts #accountancy
Research and Development Tax Credits are a UK tax incentive designed to encourage companies to invest in R&D.
Companies can reduce their tax bill or claim payable cash credits as a proportion of their R&D expenditure.
📞 Talk to us about R & D Tax Credits, we can answer any questions you may have.
📧 info@davies-archytas.com
#RandDtax #taxcredits #researchanddevelopment #accountant #tax
Never miss important changes to the latest UK financial developments by signing up to our email newsletter.
Read informative articles on personal and business accounts good practice, tips and current Covid-19 support.
Simply click here to sign up: mailchi.mp/1ec39f00691e/davies-archytas-accountants-monthly-newsletter-sign-up
For businesses in the hospitality and leisure sectors that use premises, the business rates holiday expires at the end of this month. From 1 July 2021 until 31 March 2022, business rates will be charged at a reduced 34%. You will be able to claim this as an allowable expense in 2021/22.
#hospitality #leisureindustry #accounts #business #businessrates #allowableexpenses #accounts #accountant
Just a reminder that the deadline of 21st June 2021 for the VAT Deferral Scheme is looming if you haven’t taken advantage of this already.
#VATdeferralscheme #VATdeferral #accounts #businessaccounts
With COVID-19 likely to subdue the amount of allowable expense claims in 2020/21 tax returns, there’s no time like the present to get started on yours.
It’s more pressing if you submit a paper return, with a midnight deadline on 31 October 2021. For digital returns, the deadline is midnight on 31 January 2022.
There’s no reason why you can’t get ahead of the game and file your return. Share your 2020/21 records with us and we can take it from there.
Talk to us about your tax return - info@davies-archytas.com
#allowableexpenses #accounts #businessaccounts #accountant #taxreturn
Why not join us at our next meeting as a visitor?Great meeting this morning, we are always looking for new businesses to join our successful, supportive networking group.
Why not listen to what Bobs Members have to say by clicking here:
vimeo.com/367133292
To book at our Bromsgrove club click here: www.bobclubs.com/Club/Bromsgrove
We've been having an office re-furb. Here is our new Davies Archytas Board Room, looks so professional. We look forward to many meetings with clients and prospective clients in here now.
#accountants #accountancy #tax #businessaccountant
📧 info@Davies-archytas.com
You can claim allowable #expenses for items you usually use within your #business for less than two years. Such as:
🔹 Stationery
🔹 Rent
🔹 Rates
🔹Power bills
🔹 Insurance
🔹 Plant or machinery equipment you use in your business
Talk to us about office expense claims - info@davies-archytas.com
Any ‘taxable person’ who makes ‘taxable supplies’ of goods or services, generally within the UK, will need to consider whether they should be registered for VAT.
Since the criteria for VAT-registration is based on taxable supplies being made, it is important to be able to identify what the taxable supplies are. As with all things VAT, this is not quite as straightforward as it may sound.
Talk to us and we can iron out whether a supply is taxable and a transaction is within the scope of UK VAT.
As a VAT-registered business, you will essentially act as a collecting agent for HMRC. Your business can recover the VAT it incurs on purchases (known as input VAT), but in return must charge VAT on sales (output VAT).
The difference between the input VAT incurred and the output VAT charged is either paid over to HMRC or refunded each time the business submits a VAT return.
The UK VAT rates currently in force are standard (20%), reduced
(5%), and zero (0%).
We can handle all areas of your business VAT.
Are you re-opening your business, or planning to do so shortly?
If you're bringing back your employees part time, you can claim furlough flexibly for them under the Coronavirus Job Retention Scheme (CJRS), part of the UK Government’s Plan for Jobs.
Claims for periods in May and June are both open.
For the latest information, join this live webinar.
Coronavirus Job Retention Scheme webinar
We’ll look at:
who can claim
who you can claim for
how to calculate what you can claim
how to apply.
Click here to sign up: register.gotowebinar.com/rt/8528021499696163331?source=May-HMRC-DCS-Supp-VAT-4
#jobretentionscheme #furlough
Have a great bank holiday weekend everyone!
#bankholidayweekend #bankhols #Maybankholiday
Never miss important changes to the latest UK financial developments by signing up to our email newsletter.
Read informative articles on personal and business accounts good practice, tips and current Covid-19 support.
Simply click here to sign up: mailchi.mp/1ec39f00691e/davies-archytas-accountants-monthly-newsletter-sign-up
The Budget made a clear impact on #manufacturers in terms of confidence and they are stepping up their plans to invest.
For too long the UK’s investment performance has been below par and the [super-deduction] incentive should provide a boost in the short-term at least.
We know #CapitalAllowance inside out, contact us if you need support: info@davies-archytas.com
Are you re-opening your business, or planning to do so shortly?
If you're bringing back your employees part time, you can claim flexible furlough for them under the Coronavirus Job Retention Scheme (CJRS).
Claims for periods in April are now closed, but if you need to make a change because you didn’t claim enough you can do this until 11.59pm next Friday 28 May.
Claims for periods in May and June are both open.
For the latest information, join this live webinar.
Coronavirus Job Retention Scheme webinar
It will look at:
🔹 who can claim
🔹who you can claim for
🔹how to calculate what you can claim
🔹how to apply.
register.gotowebinar.com/rt/8528021499696163331?source=May-HMRC-DCS-Supp-VAT-3
Investment in the UK’s manufacturing sector is poised to increase as a result of the capital allowances super-deduction.
The super-deduction enables companies that invest in qualifying new plant and machinery to benefit from a 130% first-year capital allowance.
The policy kicked in on 1 April 2021 and allows companies to cut their tax bill by up to 25p for every £1 they invest in qualifying
business assets.
We know capital allowances inside out - info@davies-archytas.com
#accounts #accountant #manufacturing #capitalallowance
If you have been doing your accounting in-house or are looking for a move from your existing provider, we will carry on as many of the duties usually performed by a finance director as you require at a fraction of the expense of hiring one.
www.davies-archytas.com
#businessgrowth #business #growingyourbusiness #businessaccountant
Your company has been established for a number of years, and you've reached a stage in its growth where you can relax a little, but maybe you'd like a friendly ear to speak about any problems that occur when ensuring your statutory finances are all in order and under control?
www.davies-archytas.com
#establishedbusiness #business #startup #businessaccountant