News

Accounts and Auditing Independence

There is always much scrutiny in the industry and in the press about the ethics of auditors especially when big cases hit the press such as Enron or Tesco.  One of the largest threats to a firm like Kelsall Steele is independence, being able to separate the work surrounding year end accounts, management accounts, budget …Read More

Self-employment Business start-ups – FAQ

Self Employment FAQ Starting-up in business, becoming self-employed, can be a bit of a daunting process, especially if you are not sure of some of the steps you need to go through. There are a few ‘hoops’ you need to jump through so we have put together a few basic pointers for those who are thinking of …Read More

Autumn Statement 2015

Autumn Statement 2016

Highlights Reduction in corporation tax confirmed New £23bn National Productivity Investment Fund Personal allowance to increase as planned National Living Wage and National Minimum Wage to increase Increase in insurance premium tax Fuel duty frozen again Autumn Statement 2016 The Chancellor’s Autumn Statement 2016 contained some significant announcements and confirmed a number of changes. Our summary provides an overview of …Read More

Pre-Registration VAT Expenses

Pre-registration claims for VAT – looking back If you have recently become VAT registered and are about to prepare your first VAT Return, don’t forget to look back at your previous expenditure to see if there’s any pre-registration expenses that can be claimed for. If you have purchased goods in the last 4 years that …Read More

Probate

Probate

Kelsall Steele Ltd is now licensed to carry out non-contentious probate work. Malcolm Peters is the authorised individual within the firm, which can now administer an individual’s Estate fully, or provide assistance as and when necessary to support the Executors or Personal Representatives. Malcolm comments: “We have many longstanding clients where we have acted for …Read More

Brexit

Brexit – One month on

We are now one month on from ‘Brexit’ and the UK voting to leave the European Union. While there is still a large level of uncertainty regarding our country’s economic future, a particular concern for our county is the future availability of grant funding. This uncertainty is likely set to remain at least until the government …Read More

Confirmation Statement

Annual Confirmation Statement

Introduced on the 30th June 2016 as a direct replacement for the Annual Return (Companies House form AR01); the Confirmation Statement (Companies House form CS01) is a simpler version of the Annual Return, yet serves the same purpose of confirming the details held at Companies House for your Company or LLP are correct. The Confirmation Statement is …Read More

Dividend Tax

Changes to Dividend Tax

Dividend Tax Credits Up until 5 April 2016 dividends paid by UK Companies normally had an attached 10% tax credit of the grossed dividend. Therefore if you received a dividend of £90, there would be a deemed tax credit of £10, making the total gross dividend £100. This dividend tax credit was non-refundable but could be …Read More

Cornwall Business Fair

Cornwall Business Fair 2016

The Cornwall Business Fair 2016 took place on Wednesday 11th May 2016 at the Eden Project, Kelsall Steele were in attendance with a prominent stand, this year consisting of darts, Kelsall Steele piggy banks, Kelsall Steele goody bags and champagne raffles! The Cornwall Business Fair is organised by the Cornwall Chamber of Commerce in Partnership with The Eden Project, Business Cornwall Magazine and Pirate …Read More

Employment Allowance

Employment Allowance 2016/17

Employment Allowance is £3,000 for 2016/17 Did you know that from this tax year you can now get up to £3,000 off your National Insurance bill if you’re an employer? This has increased from the £2,000 allowance which could be claimed in both 2014/15 and 2015/16. Not sure if you are eligible? You can claim …Read More

Personal Savings Allowance

Taking Interest

Personal Savings Allowance For 2016/17 if you are a basic-rate taxpayer (i.e. your total income does not exceed £43,000) then you can earn £1,000 in savings interest without paying any tax on this. This is called the ‘personal savings allowance’. For higher-rate taxpayers (i.e. your total income falls between £43,001 and £161,000), the personal savings …Read More

Radio Interview

Pirate 2 Radio Interview 2016

Malcolm Peters and Lydia Williams recently give an interview on Pirate FM’s Pirate 2 radio station. Malcolm and Lydia discussed a number of topics including the upcoming Cornwall Business Fair, being held at the Eden Project, which Kelsall Steele will be attending, Kelsall Steele’s 70th Anniversary this year and plans to mark the occasion, as well as our …Read More

Agricultural Property Relief

Inheritance Tax and Agricultural Property Relief

Will your property qualify? With many farmers seeking to diversify and maximise returns from farm assets, they may have inadvertently taken these assets out of what qualifies as agricultural property, and hence affected any claim for Agricultural Property Relief (APR). Eligible Property Agricultural property is broadly defined as agricultural land or pasture, but also includes: …Read More

Basic Rate: Getting an Extension

In 2016/17, providing your total income is less than £100,000 you will receive a personal allowance of £11,000 i.e. the first £11,000 of your income will be tax free. After that, your next £32,000 of income will be taxed at the basic rate. For most non-dividend income this will be at 20%. After that, if …Read More