Posts By: mark

Get ready for the VAT rise

Lewis Smith & Co. just wanted to remind you that the temporary reduction of VAT to 15%, that started on 1st December 2008, is coming to an end on January 1st 2010. So you need to remember to apply VAT at 17.5% again on sales of products or services after that date. You will also… Read more »

Tax scam email warning

HMRC (HM Revenue and Customs) has responded to an increase in the number of people receiving emails that offer tax rebates. They have issued a new warning not to follow weblinks in such emails or provide confidential information. They have stressed that they never notify individuals of a tax rebate using email, nor will they… Read more »

Don’t fall foul of the Data Protection Act – Check your status now!

The Information Commissioners Office (ICO), which upholds information rights in the UK, seems to have taken a more aggressive stance on companies that it deems to be operating as “data controllers” but who haven’t registered as such under the Data Protection Act. The Accountancy sector has been hit hard recently with a number of practices… Read more »

Lewis Smith & Co. get the gold

Black Country chartered certified accountants, Lewis Smith & Co., are delighted to announce that they have been awarded gold level status as an Approved Training Practice by the ACCA (Association of Chartered Certified Accountants). This means that ACCA trainees get provided with excellent training and practice experience to enable them to obtain their own Practicing… Read more »

Protect directors’ addresses from disclosure

October 1st 2009 sees the final stage of the implementation of the Companies Act 2006. One provision that we at Lewis Smith & Co. will be of particular interest relates to directors’ addresses. From October 1st directors will have a service address and a residential address. By default the service address will be the same… Read more »

Sage Users May Need to Upgrade

HMRC’s roll-out of compulsory on-line VAT returns and payments (Lewis Smith & Co. News 17/09/09) may impact businesses using older versions of Sage finance software. The latest versions have a direct interface with the HMRC but if you have an older version then you will have to use the HMRC website to enter information and… Read more »

HMRC Says VAT Returns On-line Please

Starting in April 2010 HMRC is starting the process of making it obligatory to file VAT returns and make payments on-line. Next year the obligation is only on newly VAT registered businesses and companies with a turnover greater than £100,000. This is the start of a process to ensure that businesses of all sizes file… Read more »

Paper tax return deadline

The filing deadline for paper-based self-assessment tax returns is October 31st 2009. So you need to start pulling together all of the information needed straight away – do you remember how long it took last year? You will need forms P60 and P11D, records of self-employment, details of savings and investments, and information about untaxed… Read more »