Flipping is a widely used term but do people really realise how powerful it can be as a tax saving tool?
It’s relatively common knowledge that your main residence is exempt from capital gains tax because of private residence relief which wipes out any capital gains. However when you own / rent / occupy more than one property the tax position is more complex. And remember if you are married or in a civil partnership …
What is this new Child Benefit tax?
The Chancellor has announced that as of 7th January 2013 there will be massive changes to the Child Benefit regime. In simple terms the new rules mean that anyone earning over £50,000 will be subject to a new Child Benefit tax (officially called High Income Child Benefit charge) if they continue to receive Child Benefit. If you earn over £60,000 the tax will normally equal the Child Benefit, …
We are delighted to announce that Sara Campbell, from our Bristol office, has just returned from a charity trek along The Great Wall of China in aid of Ovarian Cancer Action. This is a charity focussed on improving the survival rate for women diagnosed with the disease through research and awareness.
Sara has raised over £4,100 for the Charity so far, a magnificent achievement and in excess of her initial target of £4,000. It’s not …
Google Adwords pay per click advertising is now one of the most common advertising methods used by businesses yet a lot of people do not understand how to correctly account for the VAT on Google Adwords. It is important you complete VAT returns correctly as HMRC can impose penalties.
You will be invoiced for your Google Adwords expenditure by Google Ireland Ltd who are based, as the name suggests, in Ireland. As this is an …
Have you received a penalty for filing your tax return late? If so you are not alone; so far over 850,000 tax payers have received a late filing penalty from HMRC for their 2011/12 tax returns. A new penalty regime has come into place which is far more penalising than the previous regime. At Norton Accountancy we can help you reduce your fines and in many cases we offer a no win no fee tax penalty appeal …
Property Accountant London : Property Accountants London
If you are looking for a specialist property accountant in London then you are in the right place. Phil Walters ACA, of Norton Accountancy, is widely recognised as an expert in the property tax field. Whether you are a first time landlord looking to purchase your first buy to let property or you are an experienced developer or investor we can help. We deal with clients of all …
Olie Bright, of Norton Accountancy, has been recognised as a rising star in Welsh business by the Wales Business Insider Magazine. Each year the magazine compiles a list of the top 25 rising stars in Welsh business under the age of 40. You can see an extract of the article here – Wales Business Insider Award Olie Bright
Olie joined Norton Accountancy in 2008 having trained as a chartered accountant at big four accountancy firm, …
Norton Accountancy offer a fast, efficient and cost effective limited company formation service from our offices in Cardiff, Newport and Bristol. Some of the benefits of using Norton Accountancy for company registration include:
- Full advice on best share structure and tax implications of various share structures
- Help you chose a company name
- Ensure your company formation is fully compliant with Companies Act 2006 legislation
- Provide you with an incorporation pack including your company Certificate of incorporation,
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Did you see our recent property tax article in the Property Mail? In the article our resident specialist property accountant Phil Walters answers some important questions regarding property taxation. Phil Walters is our specialist property accountant and can meet you free of charge and with no obligation for an initial meeting in Cardiff, Newport or Bristol.
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Tax return penalties!
HMRC have introduced a new penalty system for anyone filing self assessment tax returns late for the tax year 2010/11. Under the new scheme a return received just 1 day after 31st January 2012 will receive an £100 penalty rising to £1,600 if the return is still outstanding after 12 months – even if you owed no tax! If you did owe tax then the penalty can rise to as much as 100% …
