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  • Welcome to Penpoll Accounts

  • ..Small Business Specialists

  • We can help with...

  • ..Self Assessements

  • ..bookkeeping

  • Tax Returns..

  • Payroll Services..

  • and much more..

About Us

Penpoll Accounts are based outside of Bodmin, Cornwall and are a small accountancy practice specialising in small businesses, offering an efficient, prompt and personal service.

Fully qualified licensed member of the AAT (Association of Accounting Technicians)

We can help with..


BOOKKEEPING

Sole traders, Partnerships - we offer a complete bookkeeping service

SELF ASSESSMENTS

We will complete and submit your annual Self Assessment return to HMRC, online


PAYROLL SERVICES

Employees like the comfort of being paid correctly - any errors made can be costly and worrying

VAT RETURNS

We can prepare and submit your vat returns online and on time

Why Choose Us?

Penpoll Accounts is a friendly, professional accountancy practice that provide a personal service.

We have been in practice for over 6 years and have built up a highly regarded reputation in offering a quality, local service to small businesses.

View Our Services

Our Services

 

SELF-ASSESSMENTS

- For personal or business tax, whether it for the sole trader, partnership or if you are an individual that rents a property, has savings and pensions we can help.

We will provide a Statement of Earnings informing you of your Income Tax and National Insurance liabilities, complete the self-assessment form online and send you a copy for you to check and approve, before we submit online on your behalf to HMRC.

 

DO I NEED A TAX RETURN?


If you received a notification since last April saying you need to submit a self-assessment form, then you must do it. If you fall into one of the following categories it's likely you'll need to file a return even if you have not received a notification:

• You are self-employed.

• You are a company director.

• Your annual income is £100,000 or more.

• You have an income from savings, investment or property.

• You need to claim expenses or relief's.

• You or your partner receives child benefit and your income is over £50,000.


WHAT IF I AM LATE PAYING?

If you're late making your payment on account you'll be charged 3% interest. This is on top of the minimum £100 fine for missing the deadline for filing your tax return.

Let us at Penpoll Accounts take all the worry and hassle away, we will complete and submit your annual Self Assessment return to HMRC, online. All you need to do is make sure you pay the amount payable when you receive the notification letter.

Paying fines, or missing out on claimable expenses, can make the world of difference to your life. By letting us do the hard work, you can relax in the knowledge that we will prepare and submit your legal responsibilities on time and in compliance with HMRC regulations.

 

 

PAYROLL SERVICES

- Taking the headache out of payroll, employees like the comfort of being paid correctly and any errors made can be costly and worrying, so let us remove the stress.

At Penpoll Accounts we ensure your staff are paid on time and correctly, we act as your agent with HMRC and will deal with HMRC on your behalf, covering starters, leavers, tax code changes throughout the year and all statutory payments.

Just give us your staff’s hours each pay period and we will do the rest giving you peace of mind.
Real Time Information (RTI) submissions will be taken care of as well as payslip's supplied, we will inform you of your quarterly or monthly payments due to HMRC.

Auto Enrolment refers to new legislation requiring Employer’s to enroll all eligible Employee’s into a qualifying workplace pension scheme.

We can assist employers with an affordable solution to support the small business and making sure you comply with legislation.

 

BOOKKEEPING SERVICES

Our clients include Sole traders, Partnerships and bookkeeping services that they can rely on. Many of our clients have come to us through recommendation and we take pride in maintaining our reputation.

We have a very flexible approach to meeting our client’s requirements and can either work onsite at clients’ premises or at our office. We are fully trained and have many years of experience dealing with small business.

We make it our business to understand your business giving you real peace of mind.

Why do you need a professional bookkeeping accountancy service?

• It is a legal requirement to keep accurate accounting records.

• Avoid penalties for late filing of accounts or VAT Returns.

• Recording all expenses can ensure that you pay less tax.

• Know the state of your business.

• Ensure suppliers are paid on time & only paid what you owe.

• Make year-end a much smoother process.

• Ensure compliance with the 2007 Money Laundering Act.

• Spend more time generating new business.

 

VAT SERVICES

If you are already vat registered or are thinking of going vat registered we are here to help you. We can prepare and submit your vat returns online and on time. We will then inform you of any vat amount to be paid or if you are going to receive a reimbursement.


COMPLETING A VAT RETURN

The VAT Return contains information about your sales and purchases. In essence this will include the following information:

• VAT recorded on your sales invoices.

• VAT due on acquisitions from EU countries.

• VAT recorded on your purchases + VAT due on acquisitions.

• Your total sales excluding VAT.

• Your total purchases excluding VAT.

• Total value of goods you sold to EU countries

• Total value of goods you bought from EU countries.

 

OTHER SERVICES INCLUDE:

Sole traders accounts preparation


Partnerships accounts preparation

Tax Information

Personal Allowance 2017/2018 - £11,500

Income tax rate bands

Income up to £33,500 - basic rate 20%

Over £33,501 - higher tax at 40%

£150,000 - 45%

-

PAYE tax thresholds

£221 per week

£958 per month

£11,500 per year

-

Minimum Wage 1st April 2017

25 and over - £7.50

21 – 24 - £7.05

18 – 20 - £5.60

Under 18 - £4.05

Apprentices* £3.50 *Rate applies to apprentices under 19 or 19 and over in first year of apprenticeship.

-

National Insurance


Class 1

LEL £113 per week

Lower earnings limit £490 per month £5,876 per year

National Insurance is due on payments over £157 per week and remember you will pay 13.8 % Employers NI.

Employers Allowance is available for the first £3,000.00 of the employer’s liability, conditions do apply.

If your employees earn over £113 per week for an allocated time they will be entitled to SSP,SMP,SPP,SAP statutory payments.

-

Class 2 self employed

£2.80 per week (£2.85 for 2017/2018)
Limit of net earnings for exception £5,965 per year (£6,025 2017/2018)

-

Class 3 voluntary

£14.10 per week (£14.25 2017/2018)

-

Class 4 self employed on profits

£8,060 - £43,000 9% (£8,164 2017/2018)
Over £43,000 2% (£45,000 2017/2018)

-

Statutory Payments

Sick Pay (SSP) £89.35 per week

Maternity Pay (SMP) 90% of average weekly pay for first 6 weeks

Lower of £140.98 or 90% average weekly earnings for the next 33 weeks

Adoption Pay (SAP) 39 weeks

Paternity Pay (SPP) 2 weeks

Lower of £140.98 or 90 % average weekly earnings

Small Employers with total class 1 NIC’s from previous tax year are £45,000 or less can recover statutory payments from HMRC at 103%, From 6th April 2014 the recovery of SSP was abolished. You cannot therefore recover any SSP for any tax years from 2014/15.

Over £45,000 is 92%

-

Student Loans

Employee earning threshold at which repayment of student loan begins is

Plan 1 - £17,775 per year - £1,481 per month - £341 per week

Plan 2 - £21,000 per year £1,750 per month £403 per week

Rate 9%  

-

Fixed Rate Deductions (Simplified Expenses)

Vehicle Expenditure per mile

Cars (first 10,000) - 45p

Over 10,000 - 25p

Motorcycle - 24p

Cycle - 20p

Business use of Home

Hours per month:

25 or more - £10

51 or more - £18

101 or more - £26

Private use of Business Premises

1 occupant = £350 - Disallowable amount per month

2 occupants = £500 - Disallowable amount per month

3 occupants = £650 - Disallowable amount per month

-

Value Added Tax

Standard Rate - 20%

Lower Rate - 5%

Registration threshold from 1 April 2016 - £85,000 pa

Deregistration limit from 1 April 2016 - £83,000 pa

Annual accounting scheme turnover limit - £1,350,000 pa

Cash accounting scheme turnover limit - £1,350,000 pa

Flat rate scheme turnover limit - £150,000 pa

-

Capital Allowances

Plant and Machinery

Annual Investment Allowance (AIA) - 100%

First Year Allowance (FYA)

Energy saving/environmental beneficial assets - 100%

New Cars with co2 emissions less than 75g/km - 100%

New zero emission goods vehicles - 100%

New assets for use in enterprise zones - 100%

Writing Down Allowances (WDA) General - 18%

Cars (other than low emission cars) - 8%

Special rate expenditure - 8%

Long life assets - 8%

-

Registered Pension Schemes

2016/17

Annual Allowance - £40,000

-

Tax Credits- Annual amounts 2017/18

Child Tax Credits

Family element - £545

Child element (each child) - £2,780

Disabled child element - £3,175

Severe disabled child element - £1,290

Working Tax Credit Basic element - £1,960

Lone parent & couple element - £2,010

30 hour element - £810

Disability element - £3,000

Severe disability element - £1,290

Childcare element (up to 70% of costs) weekly

Maximum eligible cost (1 child) - £175 - (2 or more) - £300

Income thresholds

First income threshold - £6,420

Eligible for child tax credit only - £16,105

Withdrawal rate - 41%

Income rise disregard - £2,500

Income fall disregard - £2,500

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Links

Here are some useful links:

www.hmrc.gov.uk

www.companieshouse.gov.uk

www.charitycommission.gov.uk

www.aat.org.uk

www.dwp.gov.uk

www.gov.uk  

 

 

Client Feedback

  • Carole offers a personalised approach to your accounts, I cannot praise highly enough the friendly and effective service offered and is certainly a firm I would recommend to any small business. Carole makes the potentially daunting subject of accounts seem simple for a complete novice like myself and doesn’t mind my daft questions.

    Sarah / St Austell

  • I have been a customer of Penpoll Accounts for just under a year. Being a start-up business can be challenging enough but Carole is always on hand to help with any query or problem that I may have. Efficient, effective and always professional”

    SD / Cardinham

  • Really enjoyed working with Carole at Penpoll Accounts and can safely say that you are a true professional. I will be recommending Penpoll Accounts in the future.

    KP / Liskeard

  • I would like to thank you for your efficient and prompt service, and I look forward to working with you again.

    Jamie / Bodmin

  • I was recommended to try Carole at Penpoll Accounts by a friend, a year ago. I've never looked back, it's great to be with an accountant who understands my business and offers me valuable accountancy support throughout the year." AT, Bodmin

    AT / Bodmin

Contact Us

For more information regarding any of the services we provide, please get in touch..

Phone

01208 821846

Location

Penpoll Farm
Cardinham, Bodmin
Cornwall, PL30 4BP