Pharmacy Accountants

News & Articles


A Festive Tax Break
As Christmas approaches thoughts turns to office parties. So what view does the tax man take when an employer arranges a Christmas party for their staff?
Self Assessment Penalties
The self-assessment system was introduced in 1996 and at present HM Revenue & Customs require about 10 million individuals to file returns each year.
Should I Incorporate?
This is a question we are frequently asked by locums. The answer is “it all depends”.
The 1000% Tax Trap - And How To Avoid It
Imagine getting a pay rise of £1,000 per annum and then finding your tax liability increasing by £1,055, that’s over 100% tax. Now imagine your pay rise is just £100 but your extra tax liability is still £1,055. That’s a tax rate of over 1000%!
Pharmacy Locum Tax Planning
At what point should a sole trader pharmacy locum consider operating via a limited company? The answer to this depends on a number of factors, which are specific to the individual.
2010/2011 Tax Year End Planning
February is a good time for individuals to have a think if there are any simple steps they can take to minimise their tax liabilities.
New Pension Regime - Government Announcement 9th December 2010
We detailed the key points arising from the Government's announcement on 9th December 2010 regarding the future direction of pension provision in the UK.

 

Frequently Asked Questions (FAQs)



Question

I’m unhappy with my existing accountant. When is a good time to leave?

Answer

We are conscious that you are not charged any extra for your decision to leave your existing accountant. For that reason, we would advise you not to leave your existing accountant whilst they are in the process of preparing your year end accounts. Wait until these have been completed and you have been charged before advising of your intentions therefore removing any excuse to overcharge you.

Question

How does the process of changing accountants work?

Answer

It’s a simple process. As we are chartered accountants, our institute states we must apply to the outgoing accountant for professional clearance. At this time we request previous accounts, opening balances and copy tax returns.

We provide you with a template letter to send to the outgoing accountant advising of your decision to change accountants.

Question

I am interested in saving tax, how can this be achieved?

Answer

By giving due consideration to a number of different planning opportunities, we can ensure that your financial affairs are structured in the most tax efficient way.



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