Blog
Commentary and insight
Our team of experts keeps a close eye on developments in tax law and financial regulation. Our blog is where they interpret the ever-changing statutory landscape in plain English, highlighting what’s important and offering practical advice on what businesses can do to avoid pitfalls or seize the opportunities presented.
Self-Assessment Tax Returns – why you should submit your return now
With the new year just around the corner and tax season fast approaching, now’s a good time to get a head start on your Self-Assessment Tax Return. Self-assessment is a system HMRC uses to collect tax on income that wasn’t taxed at source. People...
Retirement Planning – setting up an easy route to retirement
With the rising costs of living affecting every aspect of almost everyone’s finances, there’s no time like the present to start considering your retirement plans. Unfortunately, the Government has significantly increased the state pension age over...
Bringing Your Cash Flow Processes Into the Digital Age
Keeping on top of your cash flow is even more important during tough economic times. With a global slowdown on the cards, energy prices soaring and supply chain challenges, cash is likely to be tight over the coming year and beyond. Cloud...
HMRC Updates MTD Guidance
MTD non-compliance penalties also published. After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks. HMRC updated some of its informational pages...
Leading North West Accountants Merge with Worsley Practice
Press Release 6 October 2022 Re: Leading North West Accountants Merge with Worsley Practice North West Chartered Accountants, Horsfield & Smith, has merged with Huddart Chartered Accountants whose offices are based in Worsley A well established...
Capital Allowances and the Super Deduction
Make use of these allowances while they last. When a business incurs costs, such as salary payments or stationery procurement, it can usually fully deduct them as expenses from its taxable profits, reducing the tax due. However, when it buys assets...
Business Exit Strategies: how to leave your business in good hands
A business exit strategy is a plan for what will happen when you want to leave your business. A lot of people think of an exit strategy as a plan to guard against disaster or something that has to be carried out right away after its conception. But...
New Director Strengthens the Horsfield & Smith Team
Press Release 9 August 2022 Re: New Tax Director Strengthens the Horsfield & Smith Team North West Chartered Accountants, Horsfield & Smith, are celebrating the promotion of Peter Alvarez who has been appointed as Tax Director. Since his...
UK Trust Registration Service – Deadline Looming
What is the Trust Registration Service In June 2017, HMRC launched the Trust Registration Service (TRS) following the implementation of the 4th Anti Money Laundering Directive. The aim of this Directive was to improve transparency around the...
How Do Changes to NICs Affect You?
Spring Statement changes come into effect. From 6 July, the new thresholds came into effect. But what does that mean for you? As a self-employed worker, you will already pay your National Insurance differently to that of an employee. But now your...
How HMRC Conducts Tax Investigations
How to reduce penalties for accounting errors. HMRC recently announced new powers to investigate companies they suspect of evading taxes, so as a business owner, you might be worrying about what happens if your company comes under scrutiny. Even if...
Beware of ‘Rogue’ R&D Consultants
In recent years, HMRC has identified and successfully challenged several false claims for Research and Development (R&D) tax credit relief made by purported R&D Consultants. Many of these claims have been for projects that did not satisfy...
What we can do for you
Find out more about the full range of business and tax advisory services Horsfield & Smith offers to businesses and individuals across Greater Manchester and the North West of England and see how we can help you achieve your goals for growth.
