Harnett Accontants

Tag: accountants in twickenham

  • – Today’s Video Tip

    Accountancy

    – Today’s Video Tip

    have another helpful video tip for your business. Today’s tip covers the subject of taxation when selling your business:

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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

    If you need advice about selling your business, or conducting other financial activities in the most tax efficient way, please contact us, and we will arrange a free one hour no obligation consultation to discuss exactly what we can do to help your business. 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.

  • Harntt Accountants Kingston – Tax Efficient Company Cars

    Accountancy

    Harntt Accountants Kingston – Tax Efficient Company Cars

    have another great video tip to help reduce your taxes. Did you know that going green could help to save more than just the environment.

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

    Key Considerations

    If you need advice about company cars, or anything tax related for you or your business, please contact us 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 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 West London – Are You Neglecting Your Cash Flow?

    Accountancy

    Harnett Accountants West London – Are You Neglecting Your Cash Flow?

    Harnett Accountants West London brings you this report from accountancy age. It seems that many businesses are unwittingly acting as a bank for their clients, sending out late or incorrect invoices at the expense of their own cash flow security:

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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

    A RECENT CFO survey by Deloitte highlighted the importance of cost control and cash flow management. However, the dynamics of a competitive and fragile market has led many businesses to focus on prioritising growth opportunities and hoarding cash reserves to fund working capital, leaving cash flow as a secondary concern. As a result, delayed payments are leading many professional services organisations- those who bill clients for their time and services- to function often unwittingly, as a bank for their clients…

    source: original article

    Reliable cash flow is essential in order to be prepared for unexpected circumstances or to meet payment demands from creditors. If you need advice about making your business more efficient, and making sure that your cash flow is consistent and reliable, please contact Harnett Accountants West London 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 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.

  • – Government Figures Dont Add Up

    Accountancy

    – Government Figures Dont Add Up

    brings you this interesting article from the business section of the BBC News website. It seems that there is a disparity between the economic growth forecasts and the real published employment figures:

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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

    “Here’s the statistic that Britain’s finest economic brains simply cannot explain: the number of people in work in the UK has risen by 201,000 in the three months to June, a period in which our national output is supposed to have shrunk, by 0.7%

    It’s good news that there are more people in work, and that unemployment has fallen by 46,000 in those months as well. But it’s not necessarily good news that collectively, as a nation, we seem to be needing to hire a lot more people, to make less stuff….”

    please contact 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 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.

  • – Mortgage Slowdown Continues

    Accountancy

    – Mortgage Slowdown Continues

    brings you this report from the BBC Business News website, showing that the number of mortgages being given by banks is still shrinking. The findings show that banks are still rationing their funds following the financial crises, however building societies have been seeing a strong revival in this sector.

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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 number of mortgages approved for home buyers, but not yet lent, rose in July, the Bank of England said. There were 47,312 approvals last month, up from 44,124 in June.

    However, this was still less than the monthly average of nearly 51,000 approvals recorded in the previous six months. The figures suggest that the banking industry’s rationing of mortgage funds is still continuing.”

    If you need help or advice to make sure that your business and your personal finances are operating in the most tax efficient way, please contact 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 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.

  • – Vat Reclaim Cases Will Cost Taxman Billions

    Accountancy

    – Vat Reclaim Cases Will Cost Taxman Billions

    bring you this report from Accountancy Age, revealing how VAT claims going back as far as 1973 are now going through the European courts, and could see the taxman repaying tens of billions in repayments:

    💡
    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 COURTS are presumably growing tired of VAT reclaims cases now.

    At least, if they aren’t, they soon will be.

    In July, former high street retailer Littlewoods had its claim sent back to the UK courts by the European Court of Justice, sparing – at least temporarily – HM Revenue & Customs a bill that could have run into the billions.

    The dispute centred on whether refunds on VAT overpayments, made by Littlewoods between 1973 and 2004, should have been refunded with simple interest or with compound interest.

    The claims were made where customers had failed to fully pay for goods, but the retailers had paid the full VAT onto the taxman. Many now predict the UK court will rule in the taxman’s favour, which will see the VAT returned to Littlewoods with simple interest.”

    If you need advice about reclaiming overpaid VAT, or making sure that your business pays the correct amount of VAT without overpaying, please contact 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.
    📞
    Need help with VAT returns and compliance?
    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.

  • – Child Benefit Clawback

    Accountancy

    – Child Benefit Clawback

    present another useful tax tip about changes to child benefits in force from next year:

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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

    If your net taxable income last year was £50,000 or more you will shortly receive a letter from the Tax Office about child benefit. You can safely bin this missive if your children are no longer eligible for child benefit, but where you or your partner/spouse claim child benefit you need to pay attention.

    This is because from 7 January 2013 the higher earner in the family (where that person has £50,000 or more of income) will be landed with a tax charge to clawback the child benefit claimed in respect of the children. The tax charge will equal 1% of the child benefit received by the family for every £100 of income over £50,000, so 100% of the child benefit will be clawed-back when the higher earner has net taxable income of £60,000 per year.

    The tax charge only applies to child benefit paid from 7 January 2013 onwards, and will be calculated on your net taxable income for the current tax year: 2012/13. Net taxable income is income after deduction of losses, pension contributions and gift aid payments but before personal allowances. So there is some scope for reducing your net income below £50,000 by paying pension contributions, gift aid donations, or by taking a smaller dividend from your own company in the current tax year. But those strategies, and other ways to manage your income, need to continue until the children are no longer eligible for child benefit.

    You will be given the option of declining to receive child benefit to avoid the tax charge, and this will be explained in the Taxman’s letter. However, this is not the same as not making a claim for child benefit. It is important to make a claim for child benefit (even if your decline to receive it) as the claim can help entitlements to the state pension for a non-working parent, and ensures the child receives a NI number at age 15.

    If you need help with Child Benefits or other tax issues, please contact 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.
    📞
    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 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.
    📞
    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.

  • – Self Billing

    Accountancy

    – Self Billing

    offer this useful advice on self billing:

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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

    ‘Self-billing’ is where the customer in the supplier/customer relationship raises the invoices to themselves for work done or goods provided by the supplier, instead of the supplier raising those invoices. Self-billing helps large organisations that need to pay out lots of small amounts to hundreds of suppliers. It allows their purchase invoices to be standardised which saves costs when processing, and payments to be made automatically at the time the invoice is raised.

    However, there are significant disadvantages for the supplier who agrees to self-billing. The supplier losses control of when invoices are raised and may have no control over the amount billed and the amount of VAT shown on the invoice.

    Although the VATman’s guidance on their website says that the recipient of the supply (i.e. the customer who raises the self-billed invoice) is responsible for ensuring the invoice carries the correct VAT amount, it is actually the supplier who remains responsible for the amount of VAT charged.

    If you are signed-up to self-billing as a supplier don’t assume that the VAT shown on the invoices you receive from your customers is correct. You will remain responsible for any errors.

    If you need advice about self billing or VAT payments, please contact 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.
    📞
    Need help with VAT returns and compliance?
    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 – Cable Confirms Business Bank

    Accountancy

    Harnett Accountants Putney – Cable Confirms Business Bank

    Harnett Accountants Putney brings you this report from the BBC Business News website, confirming that the government is moving ahead with plans for its business bank:

    💡
    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 is moving ahead with plans for a government-backed “business bank” to boost lending to UK companies.

    The business secretary, Vince Cable, said he hoped such a bank would “shake up the market” and help boost overall lending to firms.

    Existing government schemes such as the regional growth fund have been criticised for not lending allocated funds to businesses fast enough. The UK economy has been stifled, and a low level and relatively high cost of borrowing is one factor which has squeezed UK businesses.

    To date there have been several government schemes to increase lending to businesses, or to offer them tax relief, but they have all been run by different organisations and in different ways, and this has led to a lot of confusion for UK businesses (particularly amongst SME’s) over which finance and tax relief schemes they are actually eligible for.

    Details of the business bank are yet to be revealed, but the overall objective is to unite all of the various schemes and incentives under one roof to boost lending to UK businesses and make information clearer and more accessible.

    If you need help or advice identifying which finance schemes or tax relief incentives your business qualifies for, please contact Harnett Accountants Putney, and we will arrange a free, one hour, no obligation consultation. 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.