WHR Accountants

(028) 3752 2909

WHR Accountants

Save Time & Money Using Our Accountancy Services

Today in our blog we would like to give you information on why our services can save your business both time and money. It certainly pays to employ an experienced, professional and trusted accountant to help you with your business finances and we believe that at WHR Accountants in Armagh we tick all the right boxes.
Accountants Crucial For Business Start Ups Often when people start up a business they see an accountant as a luxury that they could well do without,...

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Five Factors That Accountancy Practices Need To Deal With

We read an excellent article in the Accountancy Age the other day, of which we have left a link below, giving 5 factors that are, or soon will be, impacting on both accountancy practices and their clients. We thought we would like to share this information with you so here are the 5 factors and a summary of their impact.
The Risk Of Cybercrime Accountants are people who hold a great deal of sensitive financial data and so of course they are always likely to be...

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Making Tax Digital Draft Rules Are Out

The government have published the first detailed drafts of the new Making Tax Digital regulations. The draft rules give sole traders and business partnerships an idea of what tax information they need to store digitally and what they will be required to do for their quarterly tax returns.
Filing Income Tax & VAT Records Digitally It is important for all business owners to check out the new draft regulations to ensure that their tax...

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Higher Turnover But Lower Corporation Tax Bill For Amazon

Online retail giant Amazon lowered its corporation tax bill in the UK by more than half in 2016, this is despite increasing its turnover in the same period. In 2016 Amazon paid a UK corporation tax bill of £7.4 million, but this figures pales when you consider that they paid a total of £15.8 million in corporation tax in 2015. The company has received a great deal of flak over its perceived lack of transparency over regarding their revenue streams and how much tax they are contributing to HMRC over the last year or two and these figures are not likely to lessen the criticism.
Increase In Turnover At Amazon Amazon UK Services (who run the warehouse operations and package and distribute all the products) reported that they increased turnover from...

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Job Opportunity - Accountants Assistant

JOB OPPORTUNITY:


We currently require an Accountant's Assistant or Trainee Accountant Technician.


The person should have the following qualities :

· Aptitude for figures · Ability to work in a busy office environment · Ability to work and communicate well with other people · Good A Level results...

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Demand For Accountants Grow By Over 20%

Hello and welcome to our blog here at WHR Accountants in Armagh, Northern Ireland. We have news that the demand for accountants across the UK has grown by over 20% in just the last quarter, figures compiled by specialist recruitment consultancy firm Robert Walters show. We are not sure if this is an unprecedented increase but it is certainly a very high figure.
SME`s Looking For Accountants Robert Walters believe there are a few factors that have contributed to this high rise in demand for accountants. Firstly many SME`s...

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Number Of Accountancy Membership Grow As Audit Firms Decline

Hello and welcome to our blog here at WHR Accountants, the No 1 accountancy firm in Armagh, Northern Ireland. Today we have news that the number of people joining the accountancy profession is on the increase. This goes to show the healthy respect that the profession is held in by so many people in the UK and Ireland.
Recent Statistics For Accountancy In a report by the Financial Reporting Council called `Key Facts and Trends in the Accountancy Profession` it found that there had...

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Why Using An Accountant Is A Smart Move

Hello and welcome to our blog here at WHR Accountants in Armagh, Northern Ireland. Today we want to share with you why we believe using an accountant (and particular this accountancy firm!) for you and your business can be one of the smartest moves you ever make.
The Benefits Of An Accountant We often hear the phrase "Oh, I can`t afford to use an accountant" but what people really should be saying is...

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Has Making Tax Digital Been Put On Hold For Good?

Hello and welcome to our blog here at WHR Accountants, the premier accountancy service across Armagh and the surrounding areas. Today we are looking at the possible demise of the Making Tax Digital initiative which has seemingly been put on hold, at least until after the General Election.
The Conservative government had made a great fanfare of their Making Tax Digital plans but in a move which has surprised few experienced commentators the...

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Self Employed CIS Tax Returns

Hello and welcome to another blog post here at WHR Accountants, the No 1 accountancy firm in Armagh and the surrounding areas. We would like to take this opportunity to wish you a Happy Easter but also to tell you that we specialise in completion self employed CIS (Construction Industry Scheme) annual tax returns.

Construction Industry Scheme Tax Returns

We find that MOST of our clients are eligible for a tax rebate and so within 6 weeks of us receiving your information you should be receiving your cheque.


And even better news is that we are charging a discounted price for this service of just £170 including VAT for completion of your tax return. The normal price is £240 but this discounted price will be available up to the 31st August 2017.


To get the ball rolling please give us a call on 028 3752 2909 and we will start the process for you.


CIS Tax Returns

Once again have a Happy Easter and we look forward to hearing from you soon.

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Good News For Self Employed As Hammond Does U-Turn

There was welcome news for the self employed last week after Chancellor of the Exchequer Phillip Hammond did a u-turn and decided not to raise National Insurance Contributions (NIC) for them. This was after the Chancellor came under enormous pressure from his own party to change his budget announcement on NIC for the self employed. This is certainly a humiliating climb-down for both Hammond and the Prime Minister Theresa May. The rise would have broken a key Conservative manifesto pledge claimed many Tory MP`s and after a great deal of negative publicity the Chancellor announced that the proposed rise was going to be scrapped.
National Insurance Contributions For Self Employed The rise in NIC for the self employed would have affected approximately 2.5 million people across the UK. This would...

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Accountancy Salaries On The Rise

Hello and welcome to the blog of WHR Accountants. Today we have news that accountancy has proven one of the top 5 industries for salary growth over the last 12 months which seems to show that the sector is in a pretty healthy state. The four industries that had a higher salary growth were the car industry, property, manufacturing and the legal sector.
The average salary in the accountancy industry rose 6.4% in February 2017 compared to the year previously. The average salary this February was £33,261 compared...

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Accountancy Group Nervous About Making Tax Digital Plans

The accountancy group, UK200Group, have spoken out over Her Majesty`s Revenue & Customs `Making Tax Digital` plans, as they are concerned that some businesses will find it difficult to cope with the amount of information it will have to process under the new scheme.
The Group are worried that it will put undue stress and pressure on companies who have to implement the scheme and use the new software,...

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UK Businesses Owe Over £1.8 Billion In Corporation Tax

It has been reported that UK businesses owe around £1.8 billion in corporation tax which is up 15% from the previous year, as many businesses find it harder and harder to keep up with their tax bills. The total corporation tax owed is now up to £1.82 billion, up from £1.59 billion last year.
It could be the case that businesses will have to find different avenues and sources of revenue which will enable them to keep afloat regarding...

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Accountants Want To See Workers On Company Boards

The Institute of Chartered Accountants has urged the Government to keep the pledge they gave to place company employees in the boardrooms after there were signs that the promise given by Theresa May to do this was in serious jeopardy of being watered down. A recent Green Paper on this issue only stated that they were inviting views on strengthening "the connection between the boardroom and the workforce and other interests".
The Institute of Chartered Accountants in England and Wales believe that having company employees on the board of companies will do a lot to help...

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Calls For The Government To Give The Self Employed A Break

There have been calls for the Chancellor to make tax changes in the Autumn statement and give a break to the five million employed people here in the UK, as critics of the Governments tax policy feel that they have been targeted unfairly and punished enough.
Speciality accountancy firm Danbro feel that there are too many restrictions on the self employed and they should be treated more flexibly by the government...

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£6.9 Billion Paid In Capital Gains Tax Last Year

Reports show that the amount of capital gains tax people in the UK paid last year was around £6.9 billion, which is up a whopping 24.6% from the previous year. This jump is believed to be down to increasing asset values and buy-to-let investors. The basic capital gains tax rate was 18% until 2010 when George Osborne increased the rate of the tax to 28% and this has also led to increasing the amount of tax collected. The £6.9 billion amounts to approximately 1.4% of all taxes collected last year.
Lucy Brennan, who is a partner at Saffery Champness, commented regarding the rise: "The reported rise in capital gains tax liabilities was likely to be...

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Businesses See The Need For Speed From Their Accountants

A recent survey has shown that many SME`s believe speed is one of the most essential requirements of their accountants, along with them being tech savvy. The survey was carried out by business software provider Exact in which they spoke to 2,500 SME`s and accountants.
Because their clients are looking for them to be able to work rapidly and accurately accountants are gaining more IT and software knowledge so they...

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UK Tax Gap Falls As Pressure Continues On Tax Evaders

In 2014/15 the UK tax gap was reduced to its lowest ever level of 6.5% as Her Majesty`s Revenue and Customs maintained the downward pressure on it. Record revenues of £518 billion were collected by HMRC in the year and it is reported that more than £2.5 billion were collected from offshore tax evaders since 2010. The HMRC have been pretty relentless in the last year or so in tracking down tax evaders and it looks like this strategy will continue for the long term as the government seem very keen to show they are doing something about this issue.
Jon Thompson, who is chief executive of the HMRC, was delighted with the figures and said: "The vast majority pay what they owe, when they...

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Fears Of Brain Drain After Brexit

The Association of Chartered Certified Accountants (ACCA) have warned of a possible `brain drain` of talent from the UK after the referendum when the majority voted to leave the European Union, which they believe could mean losing some talented individuals who some would no doubt have joined the accountancy profession in the UK. And they said that it is essential that businesses explained the potential harm restricting immigration could have on the UK economy, as it any restrictions will reduce companies benefiting from the global talent pool.
ACCA`s head of policy for Western Europe, Anthony Walters, said that: "Talent could leave the UK whilst the UK seeks to reinvent itself post-Brexit. The...

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Statutory Holiday Entitlement In Relation To New Employees

As we know, under the Working Time Regulations Act of 1998 all employees, and this includes any part time workers, are entitled to a minimum of 5.6 weeks paid holiday in each leave year. This works out at 28 days annual leave per year for a full time employee with a part time workers leave worked out on a pro-rata basis.
The above is all very clear and easy to work out, but what happens when you take on a new employee part way through the...

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Analysing The Governments Digital Tax Plans

Hello and welcome to another blog post here at WHR Accountants. We hope you are enjoying the summer and all is well in your world. Today we want to share some information with you about the Governments digital tax plans which have been much criticised in some quarters.
We are going to give you a link to a very good podcast which we found on the Accounting Web website in which Tom Herbert...

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Accountancy And Brexit

Despite many tax experts along with leading politicians such as leaders David Cameron, Jeremy Corbyn and Tim Farron asking the UK people to vote for Remain in the referendum the democratic decision was to narrowly Leave the European Union. Financial analysts had predicted that the uncertainty that a Leave vote would provoke could lead the UK back into recession and indeed there has been a great deal of turmoil in the financial markets since the vote was cast.
As to how Brexit is going to affect various accountancy issues including the tax system and how it will effect large corporations along with any...

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HMRC Accounts Show Increase In Revenue

The HMRC accounts for 2015/16 show that there has been a steady increase in revenue, up 3.7% on the previous year to £536.8 billion. The rise in revenue has been put down to the organisations crackdown on tax evasion, tax avoidance and fraud, which has led to many more people paying the right amount of tax on time.
Her Majesty`s Revenue and Customs have now delivered increased revenues for the last 6 years running which has led the government to make £1.3 billion...

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Penalties For Late Filing Of PAYE Information To Be Risk Assessed

The HMRC are going to be assessing each late filing of PAYE information on an individual basis during 2016/17 it is believed. They are still going to be fining certain people for late filing but employers will not incur penalties for delays of up to 3 days.
The HMRC will no longer be penalising employers who file their PAYE late automatically but they will be looked at on a risk assessed basis...

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© 2017 WHR Accountants

WHR Chartered Certified Accountants 56 English Street Armagh BT61 7LG
T: 028 3752 2909 F: 028 3752 4567 E: info@whraccountants.co.uk W: www.whraccountants.co.uk
Directors: James Robinson FCCA, Ken Harrison BSc (Econ) FCA, Andrew Gilpin ACCA


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