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Peace of Mind in Business

Posted: 09 May 2011 in Blog How to select an accountant

We recently received a nervous phone call from one of our clients. He had been contacted by the HMRC who were accusing him of not paying his PAYE and were threatening to fine him. As it turns out, he had paid it the HMRC before the due date. Whilst the HMRC had received the monies, it turned out they had mis-posted (through no fault of my client) the payment to the wrong account.

When my client received the letter he was understandably worried, since he was not aware of how much the penalties would be and whether he would have the money to pay these fines. He was also worried that he was going to have to take time out of running his business in order to deal with the issue himself. We offered to deal with the matter on his behalf. After just a couple of phone-calls to the right people in the HMRC we were able to resolve the situation and get the HMRC to correct their error- and of course report the good news to the client. As this was a routine matter which was part of our agreed fixed-price support package to the client there no any additional charge for our time.

This is what we call our “peace of mind service”. We not only do the agreed work but remind you of any deadlines and deal with routine queries from the HMRC or Companies House. This is included in our price.

This is also an example of how our service is pro-active. The last thing you want to be doing when running your business is worrying about having to chase up your accountant and spending time dealing with tax issues which your accountant is supposed to deal with.  Rather than tell you what to do we will do it on your behalf!

Please take a look around the rest of our website to find out more about us and the fixed-price packages we offer.


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Tax Rates

Income tax2013-142014-15
Tax-free personal allowance (under 65)£9,440£10,000
Basic rate: 20%£0 - £32,010£0 - £31,865

Higher rate: 40%(dividends: 32.5%)

£32,011 - £150,000

£31,866  - £150,000

Additional rate: (dividends: 42.5%)

Over £150,000

(45%)

Over £150,000

(45%)

Capital Gains2013-142014-15
Annual Exempt Amounts for individuals£10,900£11,000
Corporation tax (rates for financial years starting on 1st April)20142015
First £300,00020%20%

Next £1,200,000

23.75%21.25%
Over £1,500,00023%21%

Tax credit on dividends (basic rate taxpayer)

10%10%
Approved HMRC mileage ratesFirst 10,000 business miles in the tax yearEach business mile over 10,000 in the tax year
Cars & vans45p25p

Motor cycles

24p24p
Bicycles20p20p

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