When launching a business, there are a number of questions which entrepreneurs typically ask. In addition to whether they should be a sole trader or a limited company, whether or not to register for VAT is a common query. The amount of VAT a business pays or claims back is usually the difference between the […]
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HMRC recently quickly reversed a decision to close its self-assessment telephone helpline for half of the year (between April and September), saying that, taxpayers would have to use online services instead. While the waiting times have been lengthy to answer calls, there was an outcry when it was announced that the helpline would be partly […]
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We’ve all met that person down the pub who tells us, with confidence, that you can put practically everything against tax – from your work clothing to your summer holiday (as they encourage you to believe you can easily call a casual chat with somebody by the pool a business meeting). There are certainly expenses […]
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According to figures from the Department for Culture, Media & Sports, in 2022 music, performance and visual arts contributed an estimated £11.5 billion to the UK economy. The economic output of the sector saw a large decrease in 2020 because of the coronavirus pandemic. However, by 2022, it had recovered to above its 2019 level. […]
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Here at Lewis & Co, as accountants, we always breathe a sigh of relief when February comes along and all our clients’ self-assessment tax returns have been completed and filed with HMRC. For businesses, with these figures now up-to-date, it’s a good time to work out where you are and make plans for the future […]
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According to the Charities Aid Foundation (CAF) Giving Report 2023, in 2022 people in the UK gave £12.7 billion to charity (an increase from £10.7 billion in 2021). Interestingly, animal welfare topped the list of causes donated for all months in 2022, except March and April when it was overtaken by overseas aid and disaster […]
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A New Year is traditionally the time for some resolutions and these typically include joining a gym, giving ‘Dry January’ a go or reading more books. But, what about resolutions in your business? Here are some suggested business resolutions for the year ahead: Get organised January is officially Get Organised Month, so this is a […]
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The run-up to Christmas is traditionally the busiest time of the year for accountancy firms and here at Lewis & Co, we are no exception. While we’ll be celebrating Christmas Jumper Day and enjoying mince pies alongside working our way through tax returns, we anticipate that our team festive celebrations will be happening in the […]
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Not long ago, we told you that somebody – who was employed and PAYE (pay as you earn) – had contacted us, having received an unexpected letter from HMRC asking them to submit a tax return. They thought they were covered by PAYE and were confused. However, a quick chat revealed that they were now […]
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Clients regularly ask us about the tax implications of buying a vehicle through their business. The first question we’d ask is around what type of vehicle you are looking at purchasing and there is a difference between vans and cars. Generally, vans (lorries or trucks) are treated in the same way as plant and machinery, […]
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