Insight

A doctor friend contacted Steve last weekend. He’d prepared his own Tax Return but couldn’t understand why his tax bill was so high. An hour’s work over a coffee resulted in a tax saving of over £4,300!! Basically, he’d put one figure in the wrong box, and another element of the demand just wasn’t due but HMRC’s system is set up to take the money and give it back months later (if you’re lucky!) Our tax system is far too complicated, and it is very easy to make a mistake that will cost you. You’ll wait ages for HMRC to answer the phone and even if they do, they probably won’t know the answer, or worse, tell you the option that gives them the maximum tax take! Even “simple” returns often need an expert review, and the savings often outweigh the cost. Call us if you want to maximise your…

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All but 4 tax returns completed! (Unfortunately, no information by these clients was supplied) A phenomenal effort by the team at Numbers! Now for the weekend …

Last week, Steve led a team which brought a major client’s accounting affairs up-to-date. He identified the key processes, developed an action plan and supported the team (in-house and subcontract) to get everything updated within a week.

Last week, Georgia managed to save three of our clients – £962.71 £1352.86 £890.23 … each quarter. A grand total of £3,205.80 … all by being on the flat rate scheme for VAT. If you don’t know what this is – or whether you could benefit – get in touch for a chat!

A client was looking to withdraw a large dividend from his company, and after reviewing the new dividend tax rules it was discovered that he would save £7k by taking the dividend pre April 2016 rather than after. How will the new dividend rules affect you?

Over £40,000 of income tax savings were identified last week by exploring alternative cash extraction methods for a family owned business.

Once again we have managed to raise funds for clients with short term cashflow issues which have affected their ability to settle their VAT liability. Contact the office to explore how we can help to fund these liabilities.

We have only 21 balloons to pop! Is one of those 21 YOUR balloon? If it IS, it will be because we don’t have sufficient tax return info to submit it for you. Please send us the information as soon as possible, so that you can avoid a fine for late submission … and get that balloon popped!

Crisis management A client’s finance manager decided not to return to work after Christmas. Within 24 hours, we visited the site, reassured the other admin staff, found a temporary bookkeeper, and devised a plan to ensure staff and HMRC are paid on time this month, as well as all the other creditors. And we are saving the company over £1,000 a month!!