Posts Tagged ‘West midland accountants’

Curo featured in Economia magazine

Tuesday, February 11th, 2014

We’re delighted to be featured in this month’s Economia magazine, the official publication of the Institute of Chartered Accountants in England and Wales (ICAEW). The article covers Curo’s early days, issues faced and how the business has expanded over the years. It also explains Curo’s unique approach to accountancy which has led to the firm being recognised as one of Worcestershire’s leading professional practices.

Here is a link to the feature – enjoy!

Curo Chartered Accountants

February 2014

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How to avoid a fake accountant

Monday, January 20th, 2014

Accountants are all the same, right?

Wrong.

Just about anyone who deals with numbers could call themselves an accountant. They don’t have to be trained or qualified in anything or be subject to monitoring from any recognised professional body.

Being ‘chartered’ means someone is professionally qualified and includes not only accountants but also surveyors and engineers. Chartered professionals have had to train to the highest standards there are and maintain a high degree of ethics and professional conduct. We’re also obliged to undertake regular technical training to ensure we can offer the best and most timely advice to our clients.

When you first come across an ‘accountant’, the Institute of Chartered Accountants in England and Wales (ICAEW) suggests asking:

  1. Are you a qualified chartered accountant?
  2. Do you offer the services and have the experience I need?
  3. Are you authorised to do audit work?

Some of the areas we can help businesses with include:

  • Planning your business, so accessing finance, preparing a business plan and advice on self-employment and limited company status
  • Starting your business – Tax advice for owner-managers and the employer aspects too, VAT, record keeping, forms and legal issues
  • Managing your business – we can advise on cash flow, budgeting, management accounts and employing staff
  • Expansion of the business – access to different types of funding, restructuring issues, exit planning

We also offer personal tax services from tax compliance and capital gains tax to estate planning and trusts.

Curo Chartered Accountants is also part of the ICAEW’s Business Advice Service. Chartered accountant members of this service offer a free hour’s advice to businesses and help guide them in their plans.  If you are interested in speaking with a qualified chartered accountant, please either get in touch direct on [email protected] or try the Business Advice Service on www.businessadviceservice.com

We look forward to hearing from you!

Curo Chartered Accountants

January 2014.

Landlords in latest tax amnesty

Tuesday, September 24th, 2013

Landlords are the latest in HMRC’s tax amnesty drive. If you own and rent out a residential property, HMRC is urging you to bring your tax affairs up to date before an Inspector knocks on your door.

It’s estimated that up to 1.5m landlords are underpaying as much as £500m in tax every year in the UK and this sector is the latest to come under scrutiny from HMRC as it continues to focus on boosting its coffers by collecting underpaid taxes.

Landlords are being urged to come forward and tell HMRC about any unpaid tax or rental income and to settle any outstanding penalties or interest. Failure to approach HMRC first could mean harsher penalties, including even criminal prosecution.

HMRC is now using more sophisticated software (Connect) which is making it easier to identify individuals’ business interests.

If the latest crackdown is of relevance to you, the ‘HMRC Let Property Campaign’ hotline is 03000 514 479 and is open Monday to Friday between 9am and 5pm

If you need to bring your tax affairs up to date on any matter at all, we can help you achieve this quickly and efficiently whilst ensuring that your tax obligations are covered going forward.

Contact [email protected] or call Helen on 01527 558539.

Curo Chartered Accountants

Sep 2013.

Employer Bulletin from HMRC

Tuesday, September 24th, 2013

HMRC has this week published a handy ‘Employer Bulletin’ packed full of information to help employers fulfil their tax obligations.

The information includes:

  • New helpline numbers
  • RTI top tips
  • Info on pension auto enrolment
  • Tax credits
  • Toolkits to reduce errors

plus a range of other useful topics.

Curo’s payroll department can assist and advise on your obligations in this area and to discuss your requirements, email [email protected] or call Helen on 01527 558539.

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Act to retain your child benefit and child tax credits

Wednesday, September 4th, 2013

For those still in receipt of child benefit and/or child tax credits, you may be at risk of losing these amounts unless you correctly notify HMRC of your child’s circumstances.

Child benefit stops on the 31st August following a child’s 16th birthday unless they remain in education or training. The same applies to the child tax credit. However, the payments can only continue provided the parent has notified the Child Benefit Office and/or the Tax Credit Office at HMRC.

Failure to notify can result in a reduction in payment or the payments stopping altogether and please note that if you believe you are entitled to receive both payments, you will need to notify both offices. Notifying one office does not count as having notified both!

Here are the rules in more detail. We can help you understand them and are on hand to answer any specific queries you have in this area – contact Helen Sewell on [email protected] or call Helen on 01527 558539.

Curo Chartered Accountants

Sep 2013

Curo Chartered Accountants is based in Bromsgrove, Worcestershire..

Have you notified HMRC of chargeability to income tax?

Wednesday, September 4th, 2013

If you’re chargeable to income tax or capital gains tax for the tax year 2012/13 and NOT already registered for Self Assessment, the deadline for notifying HMRC is 5 October 2013.

The correct forms are as follows:

CWF1 for self employment

SA1 for non self-employed income

SA401 for partners

If you’d like to discuss your tax position, please get in touch with Helen Sewell at [email protected] or Julia Whelan at [email protected] or call either on 01527 558539.

 

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Curo Chartered Accountants now in London

Thursday, August 8th, 2013

We’re delighted to announce that Curo Chartered Accountants now has a base in central London, making it easier for us to meet with our southern-based clients and contacts. We’re still based in our offices in Bromsgrove and it’s business as usual from all of the team.

Curo’s London address is in the heart of Mayfair (map here) and please get in touch if you’d prefer to meet us down in the city instead.

We look forward to continuing our expansion and servicing our exciting client base across the West Midlands, throughout the UK and beyond.

Curo Chartered Accountants
August 2013.

Childcare vouchers – consultation period begins

Monday, August 5th, 2013

The government announced earlier this year that it intends to change the basis on which working parents receive tax relief on qualifying childcare. We published a blog about this a little while ago and since then, some more details have emerged. What has made the headlines though is the revelation that less than one third of employers consider the move to be a good one.

The new system will not be open to stay at home mums and many have criticised it for being too generous to high earners.

A consultation period begins shortly and we’ll provide details of this so that you can have your say.

Here are some of the details we published in a previous blog:

Currently, employees are able to join schemes at work allowing them to receive tax-free childcare vouchers for childcare up to the age of 5, or for spending in after-school/holiday clubs. The tax relief is restricted depending on when an individual joined the scheme and the rate of income tax being paid.

This is all due to change following announcements in the Budget 2013.

The current scheme is available to employers only (so not available to the self employed) and will be phased out and from 2015 replaced by 20% tax relief on childcare costs up to £6,000. This relief is per child and applies where both parents work (or where a single parent works) and each individuals earns less than £150,000. Initially, the relief will apply to children under 5 but will be extended to children under 12 eventually.

The new system will be open to the self employed but will be restricted for those claiming tax credits/universal credit.

Employees who are additional rate taxpayers and joined an employer’s scheme on or after 6 April 2011 are restricted to £25 per week in tax free vouchers. Higher rate taxpayers are restricted to £28 per week. This was increased from 6 April 2013 to take account of the reduction in the additional rate from 50% to 45%.

Suzanne Blundell

Curo May 2013.

Julia’s day at the polo

Wednesday, July 17th, 2013

Julia Whelan recently enjoyed herself at the Polo in Cirencester and got to see Princes Harry and William in action.

It wasn’t all play though as Julia took made herself useful at half time replacing divots! Many thanks to English Mutual for organising some great hospitality.

Pictured are the Princes after the game, plus Julia with a little helper replacing divots.

The two princes after polo

The two princes after polo

Julia Whelan at the Polo, replacing divots

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Claiming capital allowances on historic expenditure

Tuesday, July 16th, 2013

We were recently asked about claiming tax relief on capital expenditure which had been incurred in previous accounting periods.

This form of tax relief is known as ‘capital allowances’ and is available on qualifying expenditure, such as plant, machinery, office equipment and various types of vehicle.

Capital allowances are claimed in the tax return for which the filing date is twelve months from the end of an accounting period. However, the claimant has a further twelve months to amend its claim by amending the tax return. The effect is therefore a two year time limit in most circumstances. Additional time may be available if there is an open HMRC enquiry.

However, a capital allowance review may show that there was an underclaim in tax relief for a previous period. If you are still within time to amend your tax return, the claim can be made by submitting an amended return.

If you are outside the two year time period, the only recourse is via a claim for recovery of overpaid tax but this specifically prevents taxpayers rectifying errors for capital allowances.

Prior to 1 April 2010 though, the process was via the ‘error and mistake’ claim and under these rules, it may be possible to reclaim. The time limit for error and mistakes claims was no later than six years after the end of the accounting period to which the return relates.

To discuss capital allowances in more detail and for help in maximising tax relief in this area, please contact Curo’s head of tax, Julia Whelan on 01527 558539 or email Julia on [email protected]

Curo Chartered Accountants

Curo is based near Bromsgrove, Worcestershire

 

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