Blog

Bumble Bee Accountancy goes green for Helston Flora Day!

Bumble Bee Accountancy is proud to be taking part in the decoration of Helston for the 2017 Flora Day! After decorating the front off the office in traditional greenary and gorse we added our own little touch with some model bumblebees. The owner of Bumble Bee, Brendan Thomas, is also taking part in the midday Read more about Bumble Bee Accountancy goes green for Helston Flora Day![…]

Did you know a Bumble Bee can run the Paris Marathon?

Did you know that it is possible for a Bumble Bee to run the Paris Marathon? Maybe they can, maybe they can’t but we do know that Bumble Bee Accountancy’s Owner, Brendan Thomas, Ran the 2017 Paris Marathon! After fighting through the 25 Degree centigrade heat with people collapsing left right and centre, Brendan finished Read more about Did you know a Bumble Bee can run the Paris Marathon?[…]

What Will The Snap General Election mean for taxes?

Everyone expects there to be an increased Tory majority with Labour in such disarray. What will the Tories do with this renewed “mandate”? (1) Get rid of Phillip Hammond After the last Budget a few weeks ago, the existing Chancellor has been discredited by the media. Attempting to Increase Class 4 national insurance and therefore going Read more about What Will The Snap General Election mean for taxes?[…]

“Horrible” Hammond looking to restrict pension tax relief

Reeling from his Budget debacle and U-Turn on the increase in national insurance on the self employed, Philip Hammond is looking at ways to close the tax black hole. Currently, each individual is allowed an annual allowance of £40,000 for tax free pension contributions. Mr Hammond is looking to reduce this, probably to £35,000 or Read more about “Horrible” Hammond looking to restrict pension tax relief[…]

On the VAT Flat Rate Scheme? You must read this!

========================== On the VAT Flat Rate Scheme? You must read this! ========================== For many businesses using the Flat Rate Scheme (FRS) and who have voluntarily registered for VAT, this will potentially have a significant financial impact. There will be a new category, called “Limited Cost Trader”, and 16.5% will have to be used instead of Read more about On the VAT Flat Rate Scheme? You must read this![…]

Mortgage Interest Disallowed!

You may have heard that as of the 6th April 2017, mortgage interest is going to be restricted as an allowable expense on residential property lets. Now is the time to consider tax planning if you are thinking of buying residential property, or even if you already have residential lets. First I will explain what Read more about Mortgage Interest Disallowed![…]

Save Tax As An Employee By Claiming For Work Related Expenses!

Many employees do not claim for work expenses because they do not know that they are allowed! The HMRC loves the saying: “ignorance is bliss”! But as an employee you may be able to save hundreds, even thousands in tax. And it is easy to do, but as always be aware of the rules. If Read more about Save Tax As An Employee By Claiming For Work Related Expenses![…]

Probate services by Bumble Bee Accountancy!

As from July 2016 Bumble Bee Accountancy will be offering probate services. This has traditionally be the exclusive domain of solicitors. But now chartered accountants can also perform probate, as long as they are not contested. The USP (or Unique Selling Point) for Bumble Bee and probate is that we will be cheaper and more Read more about Probate services by Bumble Bee Accountancy![…]

Be A Van Man; Better Than A Car Something Or Other!

The last few weeks I have spoken about business car expenses as a sole trader and a Company. This week I am going to discuss Vans. More specifically, Company Vans! Sole trader vans we covered a couple of weeks ago. When you think of vans you probably imagine a battered old Ford Transit! Well, think Read more about Be A Van Man; Better Than A Car Something Or Other![…]

Are Work Clothes An Allowable Cost? Well, yes, no, maybe!

Surely if you have purchased clothing that you use only for work is an allowable expense? The Golden Rule is “wholly and exclusively for the purpose of the business”. If they are worn only for the business, then you can claim the cost? Well……..NO! YES! MAYBE! This article applies whether you are an employee or Read more about Are Work Clothes An Allowable Cost? Well, yes, no, maybe![…]

Child Care: Reduce Your Business Tax By Claiming As An Allowable Expense!

If you have children, and the Company or Business agrees, then you can claim up to £55 per week (or £243 per month) if you are basic rate tax payer. If you are a higher rate or additional rate tax payer see amounts below. By claiming the full amount of £2,916 for the year, you Read more about Child Care: Reduce Your Business Tax By Claiming As An Allowable Expense![…]

Purchasing A Company Car: here is the low down!

Many people ask me about purchasing a Company car for their business. Well, the bottom-line is: DON’T! Buy a van, yes! Go for it! To understand why I say these things, we need to go through step by step and analyse why. It does get complicated, but I get asked the question all the time, Read more about Purchasing A Company Car: here is the low down![…]

What happens when there is no Will? Here is a warning!

Bumble Bee Accountancy will be able to offer Probate services in the next few weeks, and we will be able to offer Will writing services in the first quarter of 2017. Today I will discuss what happens if there is no Will at the time of death. This is a warning newsletter: if you have Read more about What happens when there is no Will? Here is a warning![…]