Bramhall Financial Services Ltd

Bramhall Financial Services Ltd 10+ years experience
Bookkeeping
HMRC Compliance
Consultancy

[email protected]
07846073443

22/12/2023

Big thank you to all our clients new and old this year. Looking forward to a prosperous New Year!

99 days until the self assessment tax return deadline. Don't leave it too late. As a small business owner you have enoug...
24/10/2023

99 days until the self assessment tax return deadline. Don't leave it too late. As a small business owner you have enough problems to deal with than waiting until the last minute to think about filing your return.

Get in touch today and have your tax return submitted long before the deadline and enough time to manage your cashflow should a tax liability arise.


#99

Have you received a message like this?As we approach tax return season more and more scammers will be sending out emails...
17/08/2023

Have you received a message like this?

As we approach tax return season more and more scammers will be sending out emails and texts like this one.

HMRC will NEVER send you a message detailing an amount. Don't get tricked by clicking the link.

As we move into August the clock is now ticking towards the various deadlines, see below a break down for the 22/23 tax ...
07/08/2023

As we move into August the clock is now ticking towards the various deadlines, see below a break down for the 22/23 tax year;

Self Assessment Deadlines
♣️ Register for Self Assessment; if you’re self-employed or a sole trader, 5 October 2023
📄 Paper tax returns Midnight 31 October 2023
💻 Online tax returns Midnight 31 January 2024
💸 Pay the tax you owe Midnight 31 January 2024

If you need to file a return for last year please get in touch and we will help get you registered and all your tax affairs up to date.

With the schools breaking up this week, day trips to National Trust sites are a perfect way to keep the kids entertained...
20/07/2023

With the schools breaking up this week, day trips to National Trust sites are a perfect way to keep the kids entertained.

Did you know that that these trips can help lower your tax bill??

If you are a higher-rate taxpayer and have made gift-aided charitable donations during the year you can claim back the higher-rate tax you have paid.

If you donated £100 to your favourite charity, the total value of your donation was £125, and you can claim back £25 if you pay tax at 40% (£125 × 20%).

National Trust membership (currently £146 a year for a family) is worth a £36.50 rebate to higher-rate taxpayers, provided it was gift aided.

So when planning your next day out think, how can I save on my tax bill?

Work in construction as a contractor or subcontractor?Then you need to know about Construction Industry Scheme (CIS) Tax...
14/07/2023

Work in construction as a contractor or subcontractor?

Then you need to know about Construction Industry Scheme (CIS) Tax.

CIS applies to most workers in the construction industry. If you are a contractor you will need to deduct CIS tax from your subcontractors and submit monthly CIS Returns to HMRC. If you are a subcontractor you will need to complete a tax return and claim your CIS refund.

Contractors must submit CIS returns every month with the deadline being the 19th.

HMRC are quite strict on fines for CIS, with £100 automatic fine for a day late. Even if your return is £Nil you still need to submit.

Subcontractors who suffer CIS deductions may be due a rebate once they submitted their self assessment return.

Get in touch today if you want to access your potential refund.

Or if you are a contractor and need help registering to make monthly CIS returns don't delay Bramhall Financial Services Ltd can help you.

Have you started selling The Body Shop products or are an 'at home consultant'. If your turnover is over £1,000 you need...
13/07/2023

Have you started selling The Body Shop products or are an 'at home consultant'. If your turnover is over £1,000 you need to submit a self assessment return.

At Bramhall Financial Services Ltd we have experience supporting Body shop consultants tackle their tax!

Get in touch today and we can get you registered.

Getting your return submitted early allows plenty of time to make any payments should you have a tax liability.

Let us look after your accounts and tax so you can expand your business.

Are you a locum? It's important to understand if you are an employee or self employed?HMRC recently announced its decisi...
11/07/2023

Are you a locum?

It's important to understand if you are an employee or self employed?

HMRC recently announced its decision to remove sector-specific employment status guidance for locum pharmacists, effective 30 June 2023. This change marks a shift in how the employment status of individual locums will be determined and is part of a wider trend by HMRC to remove industry-specific guidance.

If you are unsure how this affects you please get in touch. If you are a doctor or optometrist this change will not affect you but you will still need to complete a self assessment return.

First bit of "investment" back into the business, NFC business cards. One tap of the card and all our contact details wi...
10/07/2023

First bit of "investment" back into the business, NFC business cards. One tap of the card and all our contact details will be available on your phone.

156 days to the self assessment deadline.Why would I file now??Getting your tax sorted early allows you to plan your cas...
06/07/2023

156 days to the self assessment deadline.

Why would I file now??

Getting your tax sorted early allows you to plan your cash flow accordingly.

Filing your return early allows for you to manage your cash flow meaning you won't have a nasty surprise in January.

Late payment interest is applied after 30 days. Nobody wants to pay more to His Majesty's Revenue & Customs.

So if you want to have peace of mind and get your self assessment submitted do get in touch and we can assist.

The self assessment deadline for tax returns is 31 January 2024, still plenty of time you think?Despite the deadline bei...
04/07/2023

The self assessment deadline for tax returns is 31 January 2024, still plenty of time you think?

Despite the deadline being over 6 months away 1000s of individuals still get hit with a late filing penalty!

What will your excuse be?? Maybe you could take inspiration from these 11 excuses HMRC have received over the years. Can you guess which is our favourite???

1. 'My mother in law is a witch and she put a spell on me!' 🧙‍♀️

2. 'My tax papers were left in the shed and a rat ate them!' 🐀

3. 'My laptop broke, so did my washing machine' 💻

4. 'I had an argument with my wife and went to Italy for 5 years' 🇮🇹

5. 'My husband ran over me and my laptop' 🚑

6. 'I will be abroad on my yacht on deadline day and will have no internet access' ⛵

7. 'I was in a coma' 😷

8. 'I've been kidnapped by pirates' 🏴‍☠️

9. 'I'm batman I don't pay taxes' 🦇

10.' My dog ate my tax return's 🐶

11. 'We didn't know about Bramhall Financial Services Ltd and the great service and value they provide!!'

Can you think of any better excuses?

Are you a landlord and not registered for self assessment?Last year HMRC handed out over £2m of fines to landlords who h...
02/07/2023

Are you a landlord and not registered for self assessment?

Last year HMRC handed out over £2m of fines to landlords who hadn't submitted tax returns on their letting incomes.

This year they have targeted an increase in fines.

They will look for you and they will find you!

Get in touch and we can get you registered for self assessment and avoid any fines or surcharges.

Address

Stockport

Telephone

+447846073443

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