Company directors are being reminded that identity verification with Companies House is now a legal requirement, following the first prosecutions brought by the Insolvency Service for failing to comply. The warning comes as Companies House approaches the end of the 12-month transition period for the new identity verification requirements introduced under the Economic Crime and…
Author Archives: Lindsay Farrer
28
Oct
Oct
Introduction This article summarises the principal tax benefits and considerations for a director-owner company providing a wholly electric vehicle (EV) as a company car in the 2025/26 tax year. The analysis covers capital allowances, benefit-in-kind (BiK) taxation, reimbursement of charging costs, VAT implications, salary sacrifice arrangements, and other relevant factors. Capital Allowances 100% First-Year Allowance…
Blog
Company directors in Cumbria and throughout the UK are being urged to act now to comply with incoming regulations
14
Aug
Aug
It comes ahead of new identity verification rules set to take effect later this year under the Economic Crime and Corporate Transparency Act 2023. The regulations will require directors and people with significant control (PSCs) over limited companies to verify their identities through Companies House in a bid to prevent the misuse of companies for…
03
Jan
Jan
If you have traded through a limited company, and are looking to retire in the next couple of years, a common way to exit is to put the company into a Members Voluntary Liquidation (solvent liquidation). If this is the route for you, then you may want to ensure you liquidate the company before 5th…
08
Nov
Nov
If you are thinking of selling your furnished holiday property, it might be worth considering the timing of the sale and if this isn’t possible before 5 April 2025, whether its worth ceasing to trade before 5 April 2025. It might save you quite a bit of tax to consider the timing. If you sell…
01
Nov
Nov
The chancellor has announced changes to the employers’ national insurance contribution rate, increasing it from 13.8% to 15%, and the threshold at which employers’ national insurance becomes payable has been reduced by £4,100 from £9,100 to £5,000. She also announced an increase in the employment allowance of £5,500 from £5,000 to £10,500. Employer’s with employers…
11
Jul
Jul
BUSINESSES are being urged to be on guard after a ‘convincing’ scam letter demanding payments to Companies House was sent to a Cumbria business. Saint & Co Chartered Accountants is raising awareness of the fake demand from the Governmental agency for ‘Enhanced Web Filing Access’ – a service which doesn’t exist. Clients of Saint &…
Cash in king Cash is so important for a business, not only to survive but also to thrive. Look at the monies owed to your business (debtors) and make a concerted effort to collect these. Lindsay Farrer, Carlisle accountant says, “This is a really simple step to generate cash in a business but is…
Some people see accounts as a necessary formality and under appreciate how much information is contained in their accounts. More importantly how their accounts can help them to improve their business and increase profits. Why are accounts useful? Accounts are useful quite simply because they let you know how your business is doing. You can…
With ever increasing supplier prices, a rise in interest rates and a looming recession, managing your businesses cash and understanding the flow are now vital tools in maintaining resilience and being able to adopt flexible strategies for success. Cash flows are a reflection of all the cash that is flowing in and out of a…
