We are a modern forward thinking accountancy practice

We adopt the latest technologies and business practices ensuring greater efficiency and effectiveness

We have been serving clients in the Minehead & West Somerset for over 85 years and service businesses, small and large, across many sectors including:

  • agriculture
  • the professions
  • the service sector
  • the construction industry
  • manufacturers and
  • retailers

We also have helped many individuals maximise the return they receive from the assets they own, reduce tax liabilities and evaluate future options.

Accountants in Minehead & West Somerset

Services Individuals & businesses

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We have a range of support and taxation services to suit both businesses and individuals.

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Resources Tools at your fingertips

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Access to really useful resources including: calculators, tax rates and allowances.

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Get in touch Our coffeee is awesome!

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We would welcome the opportunity to assist you.

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The current hot topic

Savings allowance

A new savings allowance is available to basic and higher rate taxpayers for 2016/17.

The amount available depends on the individual's circumstances:

  • If any of the individual's income for the year is additional rate income then the individual's savings allowance for the year will be nil.
  • If any of the individual's income for the year is higher-rate income and none of the individual's income for the year is additional rate income, the individual's savings allowance for the year is £500.
  • If none of the individual's income for the year is higher rate income, the individual's savings allowance for the year is £1,000.

No tax will be payable on savings income until the new savings allowance has been used up.

In a further change, banks and building societies will no longer deduct tax at source from interest at 20%. This means that non-taxpayers will no longer need to fill out an R85 to receive bank and building society interest gross. However, companies will still need to account for 20% at source on payments of interest.

The 0% savings starting rate also remains available on the first £5,000 of taxable savings income for those with the correct split of income. This would apply where non savings income, broadly pay, trade profits and property income are no more than the personal allowance. This means that for some, the effect of the personal allowance (£11,000 for 2016/17), the £5,000 starting rate band and the new savings allowance (£1,000 for basic rate taxpayers for 2016/17) means that it may be possible to receive up to £17,000 savings income tax-free in 2016/17.

In light of the above changes please contact us if you would like to review your tax position on savings income.

Internet link: Gov.uk Publication