Harnett Accontants

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  • Drawing Capital Out Of Your Company Upon Cessation? Harnett Accountants Are Here To Help

    Accountancy

    Drawing Capital Out Of Your Company Upon Cessation? Harnett Accountants Are Here To Help

    It used to be the case that drawing money out of an private limited company upon cessation was a private matter. You would be charged a tax rate of 10% on the money that you drew out of the company, and that would be that. However, the rules have now changed somewhat. You can draw out up to £25,000 at the tax rate of 10% with an informal liquidation, but anything above that is considered to be personal income and will be taxed accordingly.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    This is not good news for business owners who want to draw their hard earned cash out of their company upon cessation. However, there is a solution, and Harnett accountants can advise you how to achieve a much lower tax rate when withdrawing capital from your business upon cessation. Please contact us to arrange a free one hour no obligation consultation, and we will discuss all of your accounting and financial planning needs.

    Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
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    Need help with VAT returns and compliance?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Tax Efficient Borrowing. Another Great Tip From

    Accountancy

    Tax Efficient Borrowing. Another Great Tip From

    If you need to borrow money from a bank or other lender, it is more tax efficient to secure the loan on a business asset, and treat the loan as a business loan. This way the loan is a business expense and taxed as such. However if you secure the loan on a personal asset, you will have to pay a higher rate of tax. So if you own a business, and you’re looking for accountants Richmond, why not get in touch and we’ll arrange a free, one hour no obligation consultation to discuss all of your accounting and financial planning needs.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Are You Ready For Compulsary Online Paye Paying? Are Here To Help

    Accountancy

    Are You Ready For Compulsary Online Paye Paying? Are Here To Help

    Currently, only business with 250 or more employees are required to submit PAYE and other payroll information to HMRC by electronic means. However, from October 2013 this will change, and all business will be required to submit PAYE information online. This may be a problem for some businesses, as HMRC do not currently operate any fast payment service (FPS) accounts. This means that businesses owners will have to be very punctual in submitting their PAYE information online. So if you are looking for accountants Kingston, why not contact Harnett accountants and we can advise you on how best to set up to pay PAYE online.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    For more information, please contact us and we will arrange a one hour no obligation consultation to discuss all of your accounting and financial planning needs. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
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    Need help with payroll management?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Salaries And Dividends Covered By Harnett Accountants Hammersmith

    Accountancy

    Salaries And Dividends Covered By Harnett Accountants Hammersmith

    If you need advice on salaries and dividends from accountants Hammersmith, then check out this great new video from harnett accountants Hammersmith. If you are paid a dividend by your company instead of a salary, it can help to save on employers national insurance.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    For more great tips to help you cut down on tax bills, and run your business in the most efficient way possible, please contact Harnett accountants Hammersmith. We will arrange a one hour no obligation consultation to discuss all of your accounting and financial planning needs. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with dividend tax planning?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • A Third Of Uk Sme’s Are Missing Out On Tax Breaks According To A New Survey! Harnett Accountants Hammersmith Investigate

    Tax Insights

    A Third Of Uk Sme’s Are Missing Out On Tax Breaks According To A New Survey! Harnett Accountants Hammersmith Investigate

    A new survey published by RSM Tenon has revealed that 33% of UK SME’s are missing out completely on tax breaks which they are entitled to. The highest proportion of SME’s missing out are located in the north, and the most underutilised tax break on offer was the 225% tax relief available for R&D projects.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    Breaks in corporation tax are being claimed, as are business rate reductions, but the government may be disappointed that SME’s are still considering corporation tax reductions in particular to be the most important form of tax relief.

    Paul Belsman from RSM Tenon said, “It is interesting that despite the various tax reliefs introduced by governments, most businesses still consider the headline corporate tax rate to be the statistic they are most interested in.

    “It is also disappointing that only one in three UK entrepreneurs are unaware of tax breaks that could benefit their company – again an interesting finding when you consider the effort the government puts into devising targeted tax incentives.

    “This could indicate that either the government is off the mark or the incentives introduced are too complicated for many businesses to consider.”

    So, UK SME’s need to take more notice of the many and varied forms of tax relief currently available to them. If you are looking for accountants Hammersmith, and would like advice about which forms of tax relief your business is entitled to, why not get in touch with harnett accountants and we will arrange a free one hour no obligation consultation to discuss all of your accounting and financial planning needs.

    Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with corporation tax planning?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.