Harnett Accontants

Tag: tax relief

  • 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 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:

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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 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.

  • Harnett Accountants Putney – Taxman Admits Fault In Half Of All Cases

    Accountancy

    Harnett Accountants Putney – Taxman Admits Fault In Half Of All Cases

    Harnett Accountants Putney Bring you this report from the Accountancy Age website, revealing that nearly 3 out of 5 compaints made to the taxman result in the taxman admitting fault.

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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

    “NEARLY THREE OUT OF FIVE complaints made to the taxman in resulted in the taxman admitting fault, according to research conducted by law firm Pinsent Masons.

    More than 58,000 complaints were received by HM Revenue & Customs in 2010/11, with the department itself upholding the grievances at least partially in over 33,000 cases, equating to 57% of total objections.

    Among the most common causes for complaint for individuals and small businesses are unreasonable delays, mistakes, and poor treatment by HMRC staff.”

    The bottom line is that you can complain to the taxman directly if you feel that you’ve been unfairly treated or incurred unreasonable financial costs. If you need advice about making a complaint to HMRC, or help working out exactly how much tax you should be paying, 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.

  • Harnett Accountants Fulham – Business Bank Could Take Decades

    Accountancy

    Harnett Accountants Fulham – Business Bank Could Take Decades

    Harnett Accountants Fulham brings you this report from the Accountancy Age website, revealing new criticisms of the governments Business Bank.

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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 BUSINESS BANK designed to provide help to SMEs under the umbrella of one organisation could “take decades” to get right, according to ACCA.

    The institute emphasised the need to establish a bank that will operate long-term, stressing that without consistency over time, small businesses will be unlikely to derive any benefit from the body.

    Manos Schizas, senior economics analyst at ACCA, said: “Politicians can only make the landscape for small business finance work better by agreeing on a long-term industrial policy that will survive the politics of the coming years and outlive future parliamentary terms.”

    There are also concerns that the government will effectively be choosing winners and losers with the new scheme, as one central body will have total control over all of the various tax relief and finance schemes. However the government hopes that the scheme will simply reduce confusion and red tape for UK businesses and startups when applying for finance or tax relief.

    If you need advice about which tax relief schemes your business is eligible for, contact Harnett Accountants Fulham, 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 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.

  • – Minister Says Cash In Hand Is Morally Wrong

    Accountancy

    – Minister Says Cash In Hand Is Morally Wrong

    brings you this report from the BBC Business News website:

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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

    “Treasury minister David Gauke has said it is “morally wrong” to pay tradesmen such as plumbers, builders and cleaners in cash in the hope of avoiding tax.

    He argued the practice came at “a big cost” to the Treasury and meant other people had to pay more.

    But Treasury sources stressed Mr Gauke was answering a specific question rather than proposing a policy change.

    Labour said the government should be focusing on “clamping down” on “large-scale tax avoidance”.

    Asked if he ever had paid cash to tradesmen to reduce his costs, London Mayor Boris Johnson said: “I’ve certainly paid a lot of cash in hand.”

    In response to the same question, Local Government secretary Eric Pickles said: “Certainly not.”

    What This Means For You

    And Culture Secretary Jeremy Hunt said: “David Gauke was saying that tax-dodging is wrong and personally I haven’t dodged tax.”

    The government is estimated to lose about £2bn each year to the black economy as tradesmen fail to pay VAT or income tax by not declaring payments and keeping them “off the books.”

    If you need advice about how to reduce your tax bills, or how to run your business in the most tax efficient way possible, please contact Harnett Accountants Kingston, 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.

  • Harnett Accountants West London – Company Cars

    Accountancy

    Harnett Accountants West London – Company Cars

    Harnett Accountants West London are pleased to present the first in a new series of video tax tips, designed to help improve your business and lower your tax bills. Today’s tip covers the topic of buying or leasing company cars, and what the various tax disadvantages might be.

    💡
    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 the most tax efficient way to purchase your new car, please contact Harnett Accountants West London, 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.

  • – Taxman Must Steer Clear Of Advisory Board

    Accountancy

    – Taxman Must Steer Clear Of Advisory Board

    brings you this report from the Accountancy Age website, warning that the taxman must not be allowed on the advisory panel which will look at tax schemes.

    💡
    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 TAXMAN MUST STAY CLEAR of an advisory panel proposed to determine whether tax schemes are abusive, according to the CIoT and ATT.

    In response to the consultation on introducing a general anti-abuse rule (GAAR), the tax bodies warned that the proposals risk handing too much power to HM Revenue & Customs.

    A panel for looking into the true purpose of tax schemes – and determining whether they are contrived to avoid tax – should have no HMRC representatives.”

    If you need advice about reducing your tax bills, or running your business in the most tax efficient way, please contact 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.

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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 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.

  • – Stamp Duty Loophole Closed By Hmrc

    Accountancy

    – Stamp Duty Loophole Closed By Hmrc

    brings you this article from Accountancy Age, reporting that the taxman has won a major victory by shutting down a stamp duty tax loophole.

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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 Taxman has claimed a significant victory in a tribunal in its continued fight against tax avoidance schemes.

    Durham-based property company Vardy Property took advantage of a regulation initially devised to prevent double taxation. It wanted to avoid paying £290,000 of stamp duty on the £7.25m purchase of a business park in Stockton-on-Tees in 2006.

    The sub-sale relief was intended to exempt legitimate intermediaries, for example house-builders, from paying stamp duty twice – first after buying the land, and then after selling the completed house.”

    This is seen as a significant victory by the taxman as it sends a clear message that using legitimate tax schemes to avoid tax will be spotted and clamped down on by HMRC.

    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 Kingston 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.

  • – Minimum Wage And Vat Changes Take Effect

    Latest News

    – Minimum Wage And Vat Changes Take Effect

    brings you this article from the BBC, reporting that the increases in minimum wage and changes in VAT have taken effect from today.

    💡
    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 rise in the earnings of the lowest paid workers has come into effect but athletes and hairdressers are likely to see their tax bill increase.

    Various changes to the UK tax and benefits system come into force on 1 October.

    These include an increase in the UK minimum wage from £6.08 to £6.19 an hour. The rate for those aged under 21 remains unchanged.

    Meanwhile, VAT will now be levied on sports drinks and hairdressers’ chairs.”

    The move has been criticised by trade unions as not going far enough, as they claim that due to the increased cost of living, young people in particular will actually face a real terms cut in pay. The rate for under 21’s remains unchanged.

    If you need advice about paying employees, or advice about how to run your business in the most tax efficient way, contact our accountants in Kingston 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.