Harnett Accontants

Tag: accountants in wimbledon

  • – September Tax Q&a Part 1

    Accountancy

    – September Tax Q&a Part 1

    are pleased to present part 1 of our September Tax Q&A:

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

    Key Considerations

    Q. I run my own company from an office in a spare bedroom at home, and my wife runs a separate company from a downstairs office in the same house. Can we both claim £3 per week expenses for use of home from our companies? Would the situation be different if we both worked full time for the same company?

    A. Yes, you can both claim the use of home expense allowance, which is now £4 per week as from 6 April 2012. It makes no difference whether you both work for the same company or for different companies.

    Q. I own a number of rental properties but this year I’ve been sued over unpaid service charges. The dispute has been resolved, but I’ve been left with legal costs. Can I deduct those legal costs from the property rental income for the year?

    A. In general any legal fees associated with acquiring or improving the property or defending the title to the property or extending a lease on a property cannot be deducted from the rental income, as they are capital expenditure. Other legal fees associated with annual bills or service charges should be allowable. You should keep all the paper work associated with the dispute just in case the Taxman asks about the legal fees in future.

    Remember to send in your questions by email to have them answered in next month’s Q&A from Harnett Accountants Wimbledon. 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 property tax 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 Fulham – September Tax Q&a Part 3

    Accountancy

    Harnett Accountants Fulham – September Tax Q&a Part 3

    Harnett Accountants Fulham are pleased to present part 3 of our September tax Q&A:

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

    Key Considerations

    Q. I’m an IT contractor currently working for a government department through my own company, for £300 per day. I’ve heard that all contractors will have to go on the department payroll. I don’t want to be a wage-slave, so what should I do?

    A. The government has announced that all senior appointments in government departments, such as executive positions, will have to be paid through payroll. This does not apply to other contractors. However, other government department contractors who are engaged for six months or more, and who are paid more than £220 per day, must when their contracts come up for renewal, or start afresh, include terms that allow the government department to seek formal assurance that income tax and NI obligations are being met. We can help you provide this assurance if it is requested.

    Q. I don’t have the all the figures needed to complete the tax credits renewal form, and I’m worried I’ll lose my tax credits as the deadline is 31 July. The main problem is my income is as a musician as I don’t know what my total income is until I receive the royalty statements.

    A. Don’t panic. You are required to return the tax credits renewals form by 31 July, or renew by phone, but you can submit estimated figures for 2011/12. When your self-employed accounts are ready you can submit the final figures and your tax credits award will be adjusted as necessary. As long as you submit final figures by 31 January 2013 you should not lose your tax credits.

    Q. What’s all this about RTI? Do I have to do something by October? Is it going to cost me more?

    A. Real Time Information (RTI) is a new way of submitting PAYE information to the tax office. All employers will have to use RTI by October 2013 (not this year), but some employers are starting to use RTI early in a test phase from April 2012. The aim is to add more employers to the RTI project at intervals, depending on how the first tests go. The tax office says your payroll software should cope with RTI when the time comes. We suggest you ask your software provider when their RTI update will be ready, and how much it will cost. We can help you prepare your payroll for RTI. This involves checking you have the full name, gender, date of birth and accurate NI number for every employee, including those who earn less than the NI threshold.

    What This Means For You

    Remember to email us with your tax questions for next months Q&A. 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 payroll management?
    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 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.

  • – Anti Avoidance Bill Brought Foward

    Accountancy

    – Anti Avoidance Bill Brought Foward

    bring you this report from the Accountancy Age website, detailing a new proposal for an anti avoidance bill to be brought before the house of commons.

    💡
    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 GENERAL ANTI-AVOIDANCE BILL is to be tabled tomorrow at the House of Commons by Labour MP Michael Meacher.

    Should the bill be passed, it will be the first time an anti-tax avoidance principle has been enshrined in UK law.

    Unlike the general anti-abuse rule (GAAR) – the consultation for which closes tomorrow (14 September) – the bill addresses national insurance and VAT. It also looks to address shifting income from one tax to another in order to reduce a tax liability and any arrangement resulting in tax paid late.”

    If the bill is passed successfully, it will supersede the current situation brought about through years of case law, which finds that schemes to avoid paying taxes aren’t actually illegal. However, critics say that the newly proposed rules will be so weak and ineffective that they will have no measurable economic impact at all.

    If you need advice about how to reduce your tax bills, or how to make sure that you are paying the correct amount of tax, please contact Harnett Accountants Wimbledon, 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 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.

  • – Tax Evasion Cases Fall By 25%

    Accountancy

    – Tax Evasion Cases Fall By 25%

    brings you this article from Accountancy Age, revealing that serious tax evasion cases have fallen by nearly 25% over the last year.

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

    Key Considerations

    “Serious tax evasion cases identified by HM Revenue & Customs has dropped nearly a quarter over the last 12 months.

    In 2011/12, there were 3,456 suspected cases, the lowest number for five years and down 23% on the 4,506 identified in 2010/11, according to figures obtained by law firm, Pinsent Masons.

    What Hmrc Says

    HMRC defines a case as ‘serious’ where £50,000 or more has been evaded, or when prosecution is possible.”

    It’s thought that HMRC’s tough anti avoidance measures are responsible for the decline. HMRC’s has nearly doubled its property raids over the last 12 months, and public awareness of tax avoidance has grown considerably.

    If you need advice about taxes, or help to make sure that you are paying exactly the right amount of tax, and running your business in the most tax efficient way possible, contact our accountants in Wimbledon 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 property tax 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.

  • – Whose Fault Is Underpaid Tax?

    Accountancy

    – Whose Fault Is Underpaid Tax?

    want to remind you of this great tax tip originally brought to you by Harnett Accountants Hammersmith earlier this month.

    💡
    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 advice about taxes, or help to make sure that you are paying exactly the right amount of tax, and running your business in the most tax efficient way possible, contact our accountants in Wimbledon 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 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.

  • – The Importance Of Cash Flow

    Accountancy

    – The Importance Of Cash Flow

    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:”

    💡
    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, 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.

  • – Advice On Ir35

    Accountancy

    – Advice On Ir35

    brings you this advice about IR35 law, and an accompanying report from the Accountancy Age website, revealing that IR35 investigations have been stepped up again by the taxman, bringing in over £1million so far.

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

    Key Considerations

    “INVESTIGATIONS into freelancers underpaying tax have doubled, with the taxman scooping more than £1m from its efforts.

    The number of probes into whether freelancers should be caught under IR35 rules – where they are effectively employed, rather than working for themselves – has doubled to more than 50.”

    Last month, our accountants in Wimbledon brought you this information about IR35, which could help protect you from being unfairly targetted by the taxman if you run your own company…

    If you provide services through your own personal service company you may be aware of a certain tax law known as IR35. The IR35 rule imposes an extra charge on your company if you’re treated as an employee of your customer or customers, or if you worked for the customer directly. It can be difficult to pin down exactly when IR35 should apply, as it depends on the relationship between the contractor and the customer, which will be different in every case.

    HMRC have tried to make generalisations about which companies come under IR35 and which don’t. They’ve drawn up a set of business entity tests with a scoring system, to help you decide whether your business would be at high, medium, or low risk of being investigated for falling under IR35.

    What Hmrc Says

    These tests are not derived from the tax law. They simply represent HMRC’s view of the risk of a business falling under this legislation.

    The scoring attached to the tests is controversial, as it penalises businesses that have no bad debts, never pay to advertise and operate from the owner’s home. These IR35 business entity tests do not change the law one bit, and will probably be ignored by the Tax Tribunal.

    If you choose to use the IR35 business entity tests, you don’t have to declare your score to HMRC, the tests are merely for your own guidance. However, if you’re worried that the business entity tests produce a high risk score for your business, we should discuss why this is the case. Are there any changes which can be made to the way your business operates which would make it less likely to be caught by IR35?

    We can advise you on the correct tests for IR35, which would be recognised by the Tax Tribunal, so do ask if you would like some reassurance.

    What Hmrc Says

    It may also help to read up on the background of the legislation. You can find some information about it on the HMRC website:

    – How to tell if the legislation applies to you or your company

    What Hmrc Says

    • – What to do if you disagree with HMRC’s decision to try and tax you under the legislation
    • – Specific information for owners of limited companies or partnerships
    • You should take the information with a pinch of salt however, as the HMRC website will try to convince you that you should fall under IR35. Take the following examples…

    What Hmrc Says

    According to the HMRC website, you do fall under the legislation if you can answer yes to this question

    Would you be an employee if you worked for your client directly and not through your company or partnership?

    This clearly doesn’t make very much sense, as the same could be said for any small service company, and therefore all such companies would have to pay IR35! Furthermore, if you can answer YES to most of these questions, you also fall under IR35…

    Do you work set hours, or a given number of hours a week or a month? Do you have to do the work yourself rather than hire someone else to do the work for you? Can someone tell you at any time what to do, when to work or how to do the work? Are you paid by the hour, week or month? Can you get overtime pay? Do you work at the premises of the person you work for, or at a place or places he or she decides? Do you generally work for one client at a time, rather than having a number of contracts?

    Many small service companies can surely answer yes to the above questions, and still be very much their own independent company. The taxman doesn’t seem to understand that small service companies often consist of one person, they often have to do exactly what their clients/customers demand of them, but they are still very much their own separate entity with their own independent needs. This is not to mention the fact that many such contracts are very temporary in nature and will not provide anywhere near the same level of security as a permanent contract of employment.

    However, as we have stated earlier in this blog, much of the information on the HMRC website is simply their opinion, and not all of it is reflected in tax law. Many claims would not stand up in an independent tribunal, and you should always make sure that you know your rights as a taxpayer before you hand over any money. Please contact our accountants in Wimbledon by email or on 020 8977 3883, and we will provide a free one hour, no obligation consultation to discuss the details of your case, and advise you as to whether your company does fall under the legislation or not. If your company does not fall under IR35, and the taxman is demanding money from you, then we can help to guide you through the appeals process.

    What This Means For You

    Follow on Twitter,  Facebook and . 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 IR35 and contractor 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.

  • Talk Travel Expenses

    Tax Insights

    Talk Travel Expenses

    Damien has recorded another series of great tax tips videos. Today’s video tax tip from is on the subject of travel expenses. Travel expenses are often a source of confusion, both for employees and employers. If you are an employee, you should know what you are entitled to so that you can reduce your tax bills, and as an employer you should make sure that you are running your business in the most tax efficient way possible.

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

    Key Considerations

    We would also like to direct you to this information published on the HMRC website, detailing what you can (and can’t!) claim travel expenses for.

    “If your job requires you to travel on business you may be able to get tax relief on your travel expenses. You can go back several years to get the relief – the time you’ve got depends on whether you’ve previously sent in a Self Assessment tax return.

    If you’ve got to make journeys for business purposes you can deduct your travelling expenses from your taxable income – so you’ll pay less tax.

    What Are Business Journeys

    • You can only get tax relief on the cost of business journeys. These are when, as part of your job:
    • you have to travel from one workplace to another – this includes travelling between your main ‘permanent workplace’ and a temporary workplace
    • you’ve got to travel to or from a certain workplace because your job requires you to
    • But business journeys don’t include:
    • ordinary commuting – when you travel between your home (or anywhere that is not a workplace) and a place which counts as a permanent workplace
    • private journeys – which have nothing to do with your job

    What This Means For You

    If you’re not sure if a place you travel to counts as a permanent workplace telephone your Tax Office for advice.”

    As you can see above, ordinary commuting between your home and your place of work does not count as an allowable tax expense, so there is no way that you can reduce your tax bills based on your daily journey to and from work, no matter how expensive it is. This is an especially big problem for people who have to drive a long distance on the motorway or travel a long way by train every day.

    Travel Expenses That Qualify For Relief

    • “You can get tax relief on the necessary costs of business travel like:
    • public transport fares
    • business phone calls, fax or photocopying costs
    • But you can’t get tax relief for things that aren’t directly related to the business journey – like your newspaper or private phone calls.”
    • “You might have to use your own car, van, motorbike or cycle to make business journeys. Your employer can give you mileage allowance payments to cover your costs – up to a certain maximum amount per mile – and you don’t have to pay tax on them. If your employer doesn’t pay you the maximum, you are entitled to tax relief on the difference between:
    • what your employer actually pays you for your business journeys

    Important Points

    the maximum tax free amount that your employer could have paid you for those journeys

    You’ll need to keep good records of the business mileage you do and of the mileage allowance payments your employer gives you. You cannot get relief for your actual expenses if they are greater than the allowed maximum per mile.”

    What Hmrc Says

    All of this information is available to view on the HMRC website.

    If you need advice about travel expenses, or if you run a business and need help with calculating how much you need to give your staff for business journeys, and which arrangements you need to make with HM Revenue and Customs, please call our accountants in Wimbledon on 020 8977 3883 or contact us through our website. 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.