Harnett Accontants

Tag: accountants in kensington

  • Harnett Accountants Hammersmith – Whose Fault Is Underpaid Tax?

    Accountancy

    Harnett Accountants Hammersmith – Whose Fault Is Underpaid Tax?

    Here’s another useful tax tip from Harnett Accountants Hammersmith:

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    Have you received a tax calculation (on form P800) which shows you owe tax that you thought had been collected under PAYE? Every year the Tax Office undertakes a ‘PAYE reconciliation’ to check whether the tax collected from pensions and salary under PAYE was the correct amount. Where a taxpayer has a number of jobs or several pensions in a year, the PAYE system can get it wrong, leaving tax underpaid.

    We can help you check any form P800 you receive, but we need to see the PAYE codes issued to you for the tax year, and payslips from your employer or pension provider to check what PAYE codes they have used. Where the employer/pension provider has not used the correct PAYE code and this causes any tax not to be collected, it remains their responsibility, not yours.

    Unfortunately the Taxman is ignoring this piece of law and is demanding payment of the underpaid tax from employees and pensioners, where the error lies with the employer/pension provider. We can help you challenge the Taxman on this point.

    Sometimes the fault lies with the Taxman who has ignored information you or your employer have provided on more than one occasion. The Tax Office may also have let tax arrears to build up over two or more years without telling you. If either of these situations apply, you can ask the Taxman to write-off the tax owing under Extra Statutory Concession A19. The Taxman is very reluctant to use this concession, but we can help argue your case.

    If you need help making sure that you have paid the correct amount of tax, and that your business or personal finances are conducted in the most tax efficient way possible, please contact Harnett Accountants Hammersmith for a free no obligation consultation. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
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    Need help with pension and retirement planning?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Kensington – Government Lowers Audit Exemption Threshold

    Accountancy

    Harnett Accountants Kensington – Government Lowers Audit Exemption Threshold

    Harnett Accountants Kensington brings you this report from Accountancy Age, revealing that the government has lowered the audit exemption threshold.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “THE GOVERNMENT has announced changes to reporting and auditing requirements that will allow more small companies and subsidiaries to decide whether or not to have an audit.

    The changes, announced by business secretary Vince Cable in response to the consultation on Audit Exemptions and Change of Accounting Framework, also make it easier for companies to move from IFRS to UK GAAP.

    “Tackling these problems will help save UK companies millions every year and free them up to expand and grow their business, which ultimately benefits the entire British economy,” Cable said.”

    If you need advice about auditing, or if your company is being audited, Harnett Accountants Kensington are registered auditors and we can guide you through the process. We offer a free one hour, on obligation consultation, and you can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Putney – Government Plans To Unite Sme Incentives

    Accountancy

    Harnett Accountants Putney – Government Plans To Unite Sme Incentives

    Harnett Accountants Putney brings you this report from the Accountancy Age website, revealing new government plans to provide help for SME’s and startups under one centrally managed scheme.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “HELP FOR SMEs should be more easily accessible and under the umbrella of one organisation according to ICAEW chief executive Michael Izza.

    As things stand, applying for funding for activities such as employing young people, starting your own business, cheap loans and export support must be done through various different bodies.

    But a state-sponsored small business bank announced by George Osborne last week provides an opportunity to unite those services under one roof.”

    In July, Harnett Accountants Putney reported on a survey revealing that a third of UK SME’s were missing out on tax breaks available to them. More worryingly, at the time of that report, only 1 in 3 UK SME’s were completely aware of all the tax breaks available to them. However, it is hoped that this new decision to unite all of the various incentives and finance schemes under one roof will raise the level of awareness and use of available tax breaks and further help the ailing UK economy.

    If you need advice about tax breaks and incentive schemes, or if you’re unsure about exactly which schemes your company could be elligable for, please contact us through our website or on 020 8977 3883, and we will arrange a free, one hour no obligation consultation. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with business start-up advice?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants West London Car Tax Advice

    Accountancy

    Harnett Accountants West London Car Tax Advice

    Many of our clients in West London ask us for advice on Company Cars and the tax implications.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    Our accountants in Wimbledon have had several such enquiries lately, so we asked Damien to say a few words.

    We hope this is of help.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Fulham – Bank Of England Plans To Increase Lending

    Accountancy

    Harnett Accountants Fulham – Bank Of England Plans To Increase Lending

    Harnett Accountants Fulham brings you this report from the BBC Business News website, detailing new plans being rolled out by the bank of England to encourage banks to lend more to individuals and small businesses.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “Funding for Lending, the new Bank of England and Treasury initiative to boost bank lending to households and businesses, has come into operation.

    The aim of the scheme is to increase bank lending by roughly £80bn, and banks and building societies will be able to access funds until the end of January 2014.”

    As accountants in West London, we see many small businesses and individuals who need access to business finance or mortgages, and over the last four years it has been increasingly difficult to obtain that finance. It’s hoped that by giving commercial banks access to cheaper borrowing (in the form of treasury bills), they will then be able to afford to lend more money to individuals and small businesses. However, there don’t appear to be any safeguards in place to ensure that the funds lent by the Bank of England are actually used to provide more lending to customers, only incentives to reward banks who do increase their lending with a very low interest rate.

    However, this scheme could simply turn into a cheap and heavily manipulated source of finance for commercial banks, with very little or no extra lending to individuals or businesses required. Other critics also cite fears that the worsening Euro zone crises will simply cancel out any good that will come from this scheme completely. There is however some protection for tax payers built into this scheme, namely a way to ensure that commercial banks will have to take a haircut on any losses their incur instead of the Bank of England.

    If you need help or advice with raising finance for your business, or advice about interest rates and loans, please contact Harnett Accountants Fulham, and we will arrange a free one hour no obligation consultation. Contact us through our website or call us on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.