Cooper Curtis Accountants are delighted to celebrate their 5th Anniversary of trading in Warwickshire.

Since opening its doors in Leamington Spa in April 2011, the progressive accountancy practice has steadily grown and in 2015 moved into larger premises in the delightful Warwickshire village of Fenny Compton close to the Oxfordshire border.

Brian says, ‘When we started up, our offering to Clients was limited to End of Year Company Accounts and Taxation as well as Tax Returns, VAT, Bookkeeping and Payroll but what we are now offering Business Planning, Exit Planning and Tax Planning which are all proving very popular with Clients’.

Cooper Curtis are also specialists in working with Recruitment Companies with offices in Birmingham and Manchester covering the West Midlands and the North-West of England.

To arrange your free, no obligation consultation ring Brian on 01295 770844 or request a call back.

From the 6th April, ALL limited companies & LLPs will be required to hold and have available for inspection a register of people with significant control over the business. The Companies House Annual return will be abolished and details from the PSC register will need to be submitted every 12 months instead. 

'What constitutes significant control?'

A person defined as having control is someone who meets one or more of the following conditions.... 

1. Direct or indirect ownership of 25% of the company's shares

2. Direct or indirect control of 25% of  the limited company's voting rights. 

3. Direct or indirect right to appoint or remove a majority of the board of the company of directors. 

4. Has the right to exercise significant influence over the control of the company

5. Has the right to exercise significant influence or control over activities a trust or firm which itself meets one or more of the first four conditions.  

'So what do you need to do next?'

Once you have identified every person with significant control, you must maintain the following information about each individual...

1. Name

2. Registered office address

3. Nationality

4. Date of Birth

5. Usual residential address

6. Date from which person became a registrable person or person with significant control in the company

7. Nature of their control (%age of control) 

An updated 'Confirmation Statement' formerly the Annual return, must be submitted to Companies house every 12 months, and a register must be maintained from April 2016. Filing at Companies House will commence from  30 June 2016. 

What will happen if I fail to keep accurate information on a register?

Failure to provide accurate information when requested for an inspection is a criminal offence and you could find yourself with a hefty fine or even up to 2 years in prison!

If you would like more information on the Person with Significant Control 'or 'PSC' Register, please contact Brian on 0845 0303 1144 or email brian@coopercurtis.co.uk. 

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

Wishing a peaceful Easter break to all from Cooper Curtis Accountants

The allowance gives relief from Employer NIC up to £2,000 rising to £3,000 from April, and can be claimed at the start of the tax year.

However....

This allowance will not be available to to employers if they,

• Employ someone for household work ie Nanny, gardener, cleaner
• Already claim the allowance through a connect company or charity
• Are a public authority such as a council
• Carry out functions either wholly or mainly of a public nature such as NHS Services, debt collection for a government department, GP . This doesn't include supplying IT services, providing security or cleaning for a government building. 

Further restriction for one director only companies...

The July Budget (and again in consultation in January 2016) announced that from 2016, employers who are director only companies will be excluded from claiming the employers allowance.

If you are a one director company and wish to take on a member of staff, they must be paid over £8,060 in order to claim the allowance.

For further information on any topics covered in our blogs, or if you would like to speak to us about our pro-active Accountancy & Tax Services, contact Brian or Caroline on 0845 303 1144 for a chat or email info@coopercurtis.co.uk. 

Cooper Curtis Accountants have offices in Warwick, Birmingham and Manchester. 

Knowledge - Support - Succeed

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

With the Budget taking place yesterday, there were a number of significant changes announced and confirmed coming in from April....

Some of these were expected, such as the Travel and Subsistence tax relief restriction for those employed via an employment intermediary. We expect the re-percussion of this will be a skills shortage for workers unwilling to travel. 

A surprising announcement was a drop in capital gains tax to 10% and 20%. This is the chancellor's move to encourage enterprise investments. But, this does not apply to residential properties or carried interest, which remain at the 18% & 28% tax rates. 

We knew the new dividend tax regime from April was going ahead so this comes as no surprise. We have been busy reviewing our clients' records over the past few weeks to seek out any tax saving opportunities. 

Read our Guide to the Budget Summary here

If you have any concerns about any of the announcements made in the recent Budget and would like a confidential chat to an advisor, please call 0845 303 1144 now or email info@coopercurtis.co.uk 

If you're thinking of making a large personal pension contribution before the end of the year, you can take advantage of the pension carry forward rules in order to benefit from any unused allowances from the previous three tax years. 

This is generally the difference between the old £50,000 annual pension allowance and your pension input that year and can be added to your relief for 2015/16. 

Note that the annual pension allowance is £40,000 for 2015/16 and 2016/17.

To avoid losing pension relief brought forward from 2012/13 which lapses 5 April 2016, why not consider making an additional pension payment before 5 April 2016? If your pension input was £24,000 in 2012/13 then there is £26,000 unused relief available to add to your 2015/16 allowance. You would need to make gross pension contributions of at least £66,000 (£40,000 plus £26,000) to avoid losing this relief.

If you have income over £150,000 your annual pension allowance will be reduced by £1 for every £2 over £150,000.

For further information on any topics covered in our blogs, or if you would like to speak to us about our pro-active Accountancy & Tax services, contact Brian or Caroline on 0845 303 1144 for a chat or email info@coopercurtis.co.uk. 

Cooper Curtis Accountants have offices in Warwickshire, Birmingham and Manchester. 

Knowledge - Support - Succeed

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.