Accountants in Henley in Arden

VAT registration becomes compulsory once your taxable turnover in any rolling 12 months passes £90,000 — and "rolling" is the word that catches people, because it's not your accounting year. Businesses in Henley in Arden growing towards that line should be watching it monthly.

Timing disposals across tax years, using losses properly, and the spousal transfer rules can all legitimately reduce capital gains bills — but only before the sale. CGT planning after completion is just arithmetic.

Status under IR35 turns on the reality of the engagement: control, substitution, mutuality of obligation. Contracts matter, but working practices matter more. A written status assessment for each engagement is cheap insurance.

Directors paying themselves a salary still need a PAYE scheme and RTI submissions, even in a one-person company. It's a five-minute monthly task with software — and a recurring penalty generator without it.

People stay with the wrong accountant for years because switching feels disruptive. In practice the profession has a standard handover process — clearance letters, copies of prior returns and working papers — and the new firm drives it, not you.

Receipts win arguments. HMRC doesn't demand a shoebox of paper any more — photos in an app are fine — but every deduction needs evidence behind it. A ten-minute weekly habit beats a January archaeology dig, every time.

If a return is late because HMRC asked for one you don't actually need, it can sometimes be withdrawn entirely — penalties included. And where there's a genuine reasonable excuse, appeals succeed more often than people expect. The wrong move is ignoring the letters.

Payments on account catch people out because the first year effectively bills you one-and-a-half years of tax at once. Knowing that in advance changes how you save through the year — and if profits fall, we can apply to reduce the July payment rather than lending HMRC money interest-free.