Accountancy

Countryside Productivity Small Grant Scheme

The deadline is almost upon us to claim from the Countryside Productivity Small Grant Scheme. Applications need to be submitted before Midday on 14th March 2018. Who can claim? – Farmers in England What’s it for? – Purchase of smaller machinery and equipment which has been identified as helping achieve improvements in either: animal welfare, …Read More

Could your hobby be a trade?

Could your hobby be a trade?

Do you make money doing what you love? Thanks to a huge number of popular online platforms, more and more people are now able to make a bit of extra money in their spare time. Whether it’s buying and selling items on eBay, selling your crafts on Etsy, or listing your talents on People Per …Read More

What responsibilities do directors have?

As a director of a limited company, you have many responsibilities. And as your company grows bigger, doing what’s required to meet those responsibilities becomes more onerous and time-consuming. That’s because there are more opportunities within larger companies for mistakes to be made outside the purview of a director. Companies Act 2006 The Companies Act …Read More

Is someone undercutting your prices?

Even if your customers seem extremely happy with your company, when a new business comes along offering lower prices or better deals, they’ll often follow them in a heartbeat. The fact of the matter is that, for many customers, price comes above all else. You could deliver a world-class customer service, be a model of …Read More

Making Tax Digital

Making Tax Digital: New Timetable

HMRC have announced significant changes to the timetable for the implementation of Making Tax Digital. We have previously written about HMRC‘s original plans for the implementation of Making Tax Digital, which would have come into effect from April 2018 for a number of businesses and landlords with gross income exceeding the VAT threshold (currently £85,000), and …Read More

people with significant control

People with Significant Control: Changes

You may already be aware from our previous post on this topic, that since April 2016 all companies and LLP’s have been required to maintain a register of People with Significant Control (PSC), containing information relating to individuals or entities who exert, or are in a position to exert, influence or control over that company. Since the …Read More

Small Dairy Farmers Scheme

Small Dairy Farmers Scheme

Calling all Dairy Farmers! The Small Dairy Farmers Scheme provides support to eligible dairy farmers who apply for a one off payment. A fund of £8.5 million has been made available by the Rural Payments Agency and you can apply for a share in this if you produced less than one million litres between 1st April 2015 …Read More

Dividend Tax

Dividend Allowance Changes

Podcast: Listen Now The new dividend tax regime was introduced by former Chancellor of the Exchequer George Osborne. This has only been in place since April 2016, but it is already to be amended in April 2018, following announcements in the Spring 2017 Budget. Before April 2016, a basic rate taxpayer paid no tax on …Read More

Childcare Schemes

The Government are introducing two new Childcare schemes within 2017; Tax-Free Childcare and 30 hours free childcare. Through a single online application service called The Childcare Service you can apply for either or both of these schemes, . There are differing criteria for each scheme, and while the two new schemes can be used alongside each …Read More

Spring Budget 2017

Spring Budget 2017

Highlights Increases to the Class 4 National Insurance rates Reduction in the dividend allowance Personal allowance  to increase as planned New NS&I investment bond available from April 2017 Corporation Tax to fall to 19% from April 2017 ISA Allowance to rise to £20,000 Spring Budget 2017 The Chancellor’s Spring Budget contained some significant announcements and confirmed a …Read More

Accounts and Auditing Independence

There is always much scrutiny in the industry and in the press about the ethics of auditors especially when big cases hit the press such as Enron or Tesco.  One of the largest threats to a firm like Kelsall Steele is independence, being able to separate the work surrounding year end accounts, management accounts, budget …Read More

Self-employment Business start-ups – FAQ

Self Employment FAQ Starting-up in business, becoming self-employed, can be a bit of a daunting process, especially if you are not sure of some of the steps you need to go through. There are a few ‘hoops’ you need to jump through so we have put together a few basic pointers for those who are thinking of …Read More

Autumn Statement 2015

Autumn Statement 2016

Highlights Reduction in corporation tax confirmed New £23bn National Productivity Investment Fund Personal allowance to increase as planned National Living Wage and National Minimum Wage to increase Increase in insurance premium tax Fuel duty frozen again Autumn Statement 2016 The Chancellor’s Autumn Statement 2016 contained some significant announcements and confirmed a number of changes. Our summary provides an overview of …Read More

Pre-Registration VAT Expenses

Pre-registration claims for VAT – looking back If you have recently become VAT registered and are about to prepare your first VAT Return, don’t forget to look back at your previous expenditure to see if there’s any pre-registration expenses that can be claimed for. If you have purchased goods in the last 4 years that …Read More

Confirmation Statement

Annual Confirmation Statement

Introduced on the 30th June 2016 as a direct replacement for the Annual Return (Companies House form AR01); the Confirmation Statement (Companies House form CS01) is a simpler version of the Annual Return, yet serves the same purpose of confirming the details held at Companies House for your Company or LLP are correct. The Confirmation Statement is …Read More