Practice Makes Perfect?

August 15th, 2018 | Categories: Events

KA Farr & Co Accountants Southport recent team building afternoon at the 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 […]

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Pat’s retirement from KA Farr & Co

August 15th, 2018 | Categories: Events

Accountants Research suggests that if you treat your staff well and invest in them through fair pay and benefits, they’ll be more likely to stay with your company over time. That means lower costs, better employee morale, and higher productivity – which can only be good for clients too. Here at K A Farr & Co we have great staff retention, 86% of our team have been with us more than 5 years and the average length of service of our current team is 13 years! However, sadly we have just lost one of our longest serving members, due to a well-deserved […]

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Accountants Go Crazy!

July 19th, 2018 | Categories: Events

Last week in an attempt to ignore the hysteria about a certain World Cup semi-final we organised a team building event at the Crazy Golf course in Southport’s Kings Gardens! The number crunchers managed to sort themselves into 4 teams of 3 but saved a fortune by doing it in one leg – the Final. Without any yellow cards being given out, or penalties (unlike HMRC!) the winning team was ‘The Managers’ with Warwick getting a prize for the lowest scoring card. Refreshments were taken with the prize giving at the local 19th Hole and teams agreed, like England, to try harder […]

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Tax Investigation Insurance

June 22nd, 2018 | Categories: Tax

Tax Investigation Insurance will protect your business against fines from HMRC Tax Investigation Insurance, also known as Tax Enquiry Insurance, Tax Fee Protection or TFP schemes, all mean one thing… If you are selected for a tax enquiry, we will robustly defend you against unjustified questions by HMRC. The investigation can be detailed and very time-consuming, which means that even if no extra tax is payable the cost to your business can be substantial. However, with Tax Investigation Insurance from KA Farr & Co, the cost of our time is covered by your premium. Since 2010 HMRC have invested £1.8 billion targeting businesses who have underpaid tax. New […]

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GDPR is almost here, but what does it mean for you?

May 21st, 2018 | Categories: News

The new General Data Protection Regulations  (GDPR) come into force ‪on 25th May‬, replacing the current Data Protection Act. The focus is on ‘willing consent’ and ‘the right to be informed’, allowing individuals to control their personal data, deciding how it is used and shared. As for your business, GDPR will affect the practicalities of direct marketing and customer service. You will need to take stock of what personal data you hold, where it came from and who you share it with. Take a look at your processes, and make any changes you need to comply with the new regulations. […]

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Facts About the New Tax Year 2018/19

April 17th, 2018 | Categories: Tax

The new Tax Year for 2018/19 is starting and we’ve got some facts on the new changes that you need to know about. Employer Pension Contributions Under auto enrolment legislation, minimum pension contributions are required to increase over time.  This happens on set dates.  Originally, auto enrolment minimum contributions were due to rise in October 2017 and again in October 2018. These increases were pushed back by six months by the government and the increases will now happen on the 6 April 2018 to a total of 5% of qualifying earnings of which 2% must be paid by the employer […]

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New Tax Allowance for Trades and Property Income

February 22nd, 2018 | Categories: News

It’s finally here! The new Tax Allowances, originally announced at Budget 2016, will take effect from the tax year April 2017 to 2018. The main objective is to simplify the tax system. As a result, there are two new annual tax allowances for individuals of £1,000 each. One for trading and one for property income. Where the allowances cover an individual’s relevant income (before expenses), they will no longer have to declare or pay tax on this income (but must retain the records). The trading allowance also applies to miscellaneous income from providing assets or services, such as hiring tools or offering gardening […]

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Our Standard Debt Collections Letters

January 15th, 2018 | Categories: News

Around this time last year, you may remember that we sent out our top tips for managing your cash flow (click here to see it again) and followed this up, after getting many requests, with our detailed debt collection process which helped us to reduce our debt by 40% (click here to see the detailed process) Many of our clients and readers found this to be a helpful guide to formalising their own business’ debt collection process, but have recently been asking for the standard letters so we thought we’d give you the opportunity to download them. These letters are […]

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Stretch Your Business!

November 9th, 2017 | Categories: Uncategorised

“Every business should have targets.” Says Kath Farr of KA Farr Chartered Accountants in Churchtown. So when her own staff achieved their target for the year she set them another one: a high team score at Ten-Pin Bowling! So the entire staff recently decamped from their Botanic Road offices to the Ocean Plaza Bowling Alley. The winning team on the day received a rather fine trophy and then the group retired to a local hostelry for celebratory drinks before enjoying fine dining on the Promenade. “A happy staff is a productive staff” said Kath “And all successful businesses have a […]

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Are You Using Accounting Software Yet?

November 6th, 2017 | Categories: Uncategorised

As you know from our updates on Making Tax Digital (MTD), soon it will be increasingly difficult to get by with paper based accounting methods. HMRC has made it very clear that they’ll be expecting digital submissions, starting with VAT, so it’s important that all businesses be ready. What’s Coming for Businesses VAT is the first area where HMRC intends to make digital submissions the norm, coming up in April 2019. We’ve seen many times in the past that businesses leave such necessary changes to the last minute, which often has unfortunate consequences for the firm in question. Don’t let […]

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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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