Articles

Capital Gains Tax

February 8th, 2019 | Categories: Tax

Big changes to Capital Gains Tax for property owners. October 2018’s budget announced two big changes to capital gains tax relief for homeowners. The two areas affected are CGT relief for the final period of ownership and lettings relief. Private residence relief: the final period of ownership Currently, relief from capital gains tax on the sale of a property (principal private residence) is valuable tax relief available to both individuals and trustees. It allows all the sale proceeds, (subject to rules and restrictions), to be carried over into the purchase of the new property without a proportion being taken out […]

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Self Assessment Tax Returns

February 1st, 2019 | Categories: Tax

The start of a new year is the perfect time to plan the year ahead, putting into action those new year resolutions. However, January 31st is also the deadline for Self Assessment Tax Returns. This means that January is a time that many self-employed people dread, putting a dampener on the New Year buzz. Self assessment tax returns inevitably take much longer than you initially anticipated, no matter how closely you kept a record of your income and expenditure throughout the year. When you sit down to the task of calculating what you owe or even how much you are […]

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Merry Christmas

December 21st, 2018 | Categories: Events

It’s Christmas! We’re feeling very festive here at K.A.Farr & Co. and our celebrations are in full swing. We have had a very enjoyable morning exchanging our ‘Secret Santa’ gifts whilst sporting our Christmas Jumpers, and munching one or two (or three) chocolates. We’re also venturing out for our Christmas Party at Master McGraths this evening, where we’ll be letting our hair down and enjoying some dancing and fun. We’ve had another successful year here at K.A.Farr & Co. and we would like to take this opportunity to thank all of our customers for their support, and to wish you […]

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Christmas Opening Hours

December 14th, 2018 | Categories: News

The festive period is in full swing, so we would like to take this opportunity to wish all of our clients a Merry Christmas and a Happy New Year! We’ll be taking a break over the Christmas period, so we wanted to make sure that all of our clients knew what time we were closing and when we’d be back open for business. We are closing for the holidays on 24th December at 12:00 and we’ll be re-opening for business on 2nd January at 9:00. We hope everyone has a good holiday this Christmas – we’ll certainly be making the most of […]

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Self Assessment Deadline

December 7th, 2018 | Categories: Tax

It’s that time of year again – it’s nearly Christmas and you’re probably getting ready to wind down for the end of the year. But…are you ready for the upcoming self assessment deadline? Far too many businesses find themselves caught out as the deadline looms after the Christmas break. So when’s the deadline? The deadline for online returns is midnight on the 31st of January, which means there is not much time left! Don’t leave it until the last minute! If you haven’t already done so, we need your records as soon as possible in order to be able to […]

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HMRC Scam Calls

November 19th, 2018 | Categories: News

There has been a recent spike in HMRC scam calls. Members of the public have been advised to be aware of a number of HMRC scam calls recently reported to police. We at K.A.Farr & Co. have received a number of worried calls from business owners who have received these HMRC scam calls or emails. We have investigated the scam and been able to provide the reassurance that our clients needed. It is important that you stay vigilant and look out for the signs of a scam call. The caller may tell you that you owe a significant amount of money […]

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Act now to comply with Making Tax Digital

September 28th, 2018 | Categories: Tax

Be Ready with K.A.Farr & Co. From April 2019 businesses above the VAT threshold will be required by law to keep their records digitally and provide quarterly updates to HMRC in compliance with Making Tax Digital. In July 2018 HMRC issued more detail on this new legislation via VAT notice 700/22. If you think you will be caught by MTD for VAT we recommend you read this new notice sooner rather than later. Businesses can currently use manual records, spreadsheets, accounting software or a combination of all three to maintain their business records. However, from the April 2019 deadline businesses […]

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Just Giving for Emie

September 21st, 2018 | Categories: Events

Joyce Townley from the Payroll Department here at K.A.Farr & Co. is raising money for treatment for her 11-month-old baby granddaughter Emie. Emie has been diagnosed with having Plagiocephaly (flat head syndrome) and Brachycephaly, which requires her to be fitted with a customised cranial helmet called a DOC band and the treatment has to be started before she is 14 months old. Unfortunately, the treatment is only available privately which means the money needs to be raised in a very short space of time to give her the best future possible. Once the band has been fitted Emie has to return to the clinic, […]

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Making Tax Digital

August 15th, 2018 | Categories: Tax

Making Tax Digital or MTD is an initiative designed by the Government in conjunction with HMRC to make sure the UK tax system is effective, efficient and easier for taxpayers. Beginning on 1 April 2019, VAT-registered businesses above the threshold of £85k will have to keep digital records in line with Making Tax Digital and submit VAT returns using compatible software. The key things to remember are: Business records must be kept in digital form Quarterly updates must be submitted to HMRC An annual ‘End of Year’ report with final figures must be submitted. What does it mean for my […]

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Practice Makes Perfect?

August 15th, 2018 | Categories: Events

KA Farr & Co Accountants recent team building afternoon at Southport’s Crazy Golf course paid dividends for staff member Debbie Kelly. While playing at Ormskirk Golf Club she hit a hole-in-one at the 14th par 3! “I knew I’d hit a good shot as it sailed off in a direct line to the flag” she told colleagues. “But the green is surrounded by bunkers and it often drops right into one of them.” Debbie says “It was a wonderful feeling to see it go in the hole from the tee but we still had to be totally sure by peering […]

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If you would like would like to speak with a member of our team, you can call us on 01704 211 434 or send us an email using our enquiry form.

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