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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, Limited companies - we offer a complete bookkeeping service

PERSONAL TAX RETURNS

We can offer expert advice as you need it, for as long as you need

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 9 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 Limited companies and offer a complete bookkeeping service 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

2020/21                £12,500

The personal allowance goes down by £1 for every £2 of income above the £100,000 limit. It can go down to zero.

 

Income tax rate bands

Income up to - £37,500 - basic rate 20%
Over £37,501 - higher tax at 40%
£150,000 - 45%

 

PAYE tax thresholds
£240 per week
£1,042 per month
£12,500 per year

 

Minimum Wage
1st April 2020
25 and over - £8.72
21 – 24 - £8.20
18 – 20 - £6.45
Under 18 - £4.55
Apprentices* - £4.15
*Rate applies to apprentices under 19 or 19 and over in first year of apprenticeship.

 

National Insurance
Class 1
LEL - £120 per week
Lower earnings limit - £520 per month - £6,240 per year
National Insurance is due on payments over £183 per week and remember you will pay 13.8 % Employers NI.
Employers Allowance is available for the first £4,000.00 of the employer’s liability, conditions do apply.
If your employees earn over £120 per week for an allocated time they will be entitled to SSP,SMP,SPP,SAP statutory payments.

Class 2 Self Employed
£3.00 per week (£159.00 for the year)
Limit of net earnings for exception £9,500 per year

Class 3 voluntary
£15.30 per week

Class 4 Self Employed on profits
£9,501- £50,000 - 9%  
Over £50,000 - 2%  

Statutory Payments
Sick Pay (SSP) - £95.85 per week
Maternity Pay (SMP) - 90% of average weekly pay for first 6 weeks
Lower of £151.20 or 90% average weekly earnings for the next 33 weeks.
Adoption Pay (SAP) - 39 weeks
Paternity Pay (SPP) - 2 weeks
Lower of £151.20 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

£19,390 per year
£1,615.83  per month
£372.88 per week

Plan 2

Rate 9%
Post Graduate Loans
£21,000 per year
£1,750 per month
£403.84 per week
Rate 6%

 

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             Amount
25 or more                          £10
51 or more                          £18
101 or more                        £26

Private use of Business Premises
No. of occupants - Disallowable amount per month

1. £350
2. £350
3. 3650

 

Value Added Tax
Standard Rate 20%
Lower Rate 5%
Registration threshold from 1 April 2018 - £85,000 pa
Deregistration limit from 1 April 2018 - £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) - 6%
Special rate expenditure - 6%
Long life assets - 6%

Registered Pension Schemes
2020/21
Annual Allowance - £40,000

 

Links
Here are some useful links

www.gov.uk
www.companieshouse.gov.uk
www.charitycommission.gov.uk
www.aat.org.uk
www.att.org.uk
www.dwp.gov.uk
www.acas.org.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