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There were a number of changes announced in the recent Summer Budget, the first Conservative only Budget for almost 20 years, but the one factor which will have the greatest impact on owner managed businesses seems to have gone under the radar. The reforms announced regarding the taxation of dividends, in particular the removal of the deemed tax credit on dividends will have a very significant impact on any owners of shares in Limited Companies, and will result in increased taxes being paid by this sector of the economy. Historically, and up until ...

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, mean you may as well not claim the Child Benefit. This new tax will be collected by 'forcing' anyone earning over £50,000 to complete a tax return. ...

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 too late to donate to the cause, please see the Just Giving page here (and remember it's tax efficient with Gift Aid!) - http://www.justgiving.com/teams/Norton-China-Trek The trek ...

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, KPMG. Since joining Norton Accountancy, Olie has been instrumental in driving a period of strong growth for the firm and overseen ...

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, articles of association and memorandum of association We also offer a registered office service which means you can use our Cardiff, Newport or Bristol office address as the ...

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.

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% of the tax due. For full details please see the HMRC website here. Do I need to do a tax return? You may not realise that ...

You may have seen Eirian Thomas, our resident Welsh speaking accountant, recent appearance on S4C's Welsh money saving programme Mwy Am Lai. Eirian was interviewed about the HMRC Rent a Room scheme which allows homeowners to rent a room out in their house for up to £4,250 a year without paying any additional tax (subject to certain criteria). You can watch the video here: Eirian Thomas appearance on Mwy Am Lai If you want to find out more about the rent a room scheme or are looking for a Welsh speaking accountant then please get in touch with Eirian Thomas ...

Sara Campbell, from our Bristol office, has recently signed up to trek the Great Wall of China in September 2012 in order to fundraise for the cancer charity Ovarian Cancer Action. Ovarian Cancer Action is a charity that is close to our hearts. Here at Norton Accountancy a close friend of ours has recently beaten Ovarian Cancer and it has highlighted to us the severe lack of awareness of Ovarian Cancer. Ovarian Cancer Action aims to raise awareness and fund research into treatments. Ovarian Cancer is easily treatable if picked up early and by creating awareness of the disease and the symptoms ...

Norton Accountancy are delighted to announce that we have now officially opened our new office in Newport. The office is conveniently located on Enterprise Way, just off Usk Way (A4042), in the revitalised Newport docks area. It's easily accessible from the M4 and there is ample parking directly outside.   [caption id="attachment_1045" align="alignleft" width="415" caption="Phil Walters & Olie Bright outside Norton Accountancy's new Newport Office"][/caption]