Galloways Accounting

Business owners: have you reviewed your Inheritance Tax position?

Effective succession and estate planning can help protect the wealth you've worked hard to build. Our specialist tax team can help you understand available reliefs and opportunities to reduce future Inheritance Tax liabilities.

Find out more about one commonly missed exemption here: https://wearegalloways.com/gifting-out-of-income-the-overlooked-way-to-reduce-inheritance-tax/

We're delighted to be the Headline Sponsor of this year's Worthing & Adur Better Business Show.



On 17 September, local businesses, entrepreneurs and professionals will come together at Worthing Leisure Centre for a day of networking, collaboration and inspiration. Whether you're looking to grow your network, discover new local suppliers, or simply see what makes our business community so vibrant, this is an event not to miss.



Come and say hello at our stand!



https://worthingandadurchamber.co.uk/better-business-show

Better Business Show Join hundreds of likeminded local business owners at this year’s Better Business Show to meet, talk and connect!

Parents of 16-19 Year Olds: Update HMRC Before 31 August to Keep Receiving Child Benefit.

Parents could miss out on Child Benefit payments after 31 August if they don't take the necessary steps with HMRC.

Read our latest update: 🔗 https://wearegalloways.com/parents-with-teenagers-could-lose-out-on-child-benefit-after-31-august/

Companies House has warned of a rise in scam emails linked to its new identity verification processes. Directors should stay vigilant for messages that create urgency, request personal information, or direct them to unofficial websites. Taking a moment to verify communications could help protect your business from fraud.
Read more: https://wearegalloways.com/companies-house-issues-warning-over-scammers/

Seasonal workers may only be temporary, but payroll responsibilities aren’t. From correct tax codes and minimum wage compliance to holiday pay and fluctuating hours, getting payroll right is essential to avoid costly mistakes during the busy summer season. If you have any questions about managing seasonal workers or payroll compliance, get in touch with our payroll team for expert support. https://wearegalloways.com/summer-season-success-dont-get-caught-out-by-the-unique-payroll-requirements-of-seasonal-workers/

Could self-employed workers and landlords soon pay tax little and often?

New proposals recommend more regular Income Tax Self Assessment (ITSA) payments from 2029, potentially changing how millions manage their tax bills. https://wearegalloways.com/new-proposals-recommend-regular-itsa-tax-payments-from-2029/

Missed the MTD deadline on 7 August?

Here's what happens next and how to minimise any potential penalties.

https://wearegalloways.com/mtd-is-here-what-happens-if-you-miss-the-first-deadline-on-7-august/

🤩📽️ Who's excited for Sunset Screenings this evening?

Tonight we're screening Zootropolis 2 for FREE outside at the De La Warr Pavilion!

Before the film, get creative and print your own unique movie-inspired T-shirt, then settle in with blankets, hot chocolate, and a fantastic movie night under the stars. 🌠

🎨 T-Shirt Printing Workshop
6pm to 8pm (last entry 7.45pm)
Join Little Mashers for a free T-shirt printing workshop. Please bring your own T-shirt, whether it's old or new. If you forget, a limited number of T-shirts will be available to purchase for £5.

📽️ Film Screening
At dusk (approximately 8pm to 9pm)
Grab your favourite spot, get your snacks ready, and enjoy Zootropolis 2 as we project it onto our iconic building.

🍕 Food & Drinks
Our Trailer Bar will be serving drinks, snacks, and cosy hot chocolate, while Da Romeo Pizza will be on site with their delicious signature wood-fired pizzas.

🪑 Don't Forget
A picnic blanket or camping chair
Warm layers, blankets, and jumpers
Your friends and family!

🌊 As the sun goes down, it can get a little chilly by the sea, so wrap up warm.

Sunset Screenings are completely FREE with no booking required. Just turn up, find a spot on the Lawns, and enjoy a magical movie night under the stars with your favourite people.

Timings are approximate and subject to change. ✨🎬

Sunset Screenings are presented in association with Bexhill College, Gaby Hardwicke Solicitors, and Galloways Accounting

Could your VAT records withstand an HMRC inspection?

An HMRC VAT inspection can be stressful, costly and disruptive if issues are uncovered.

If you've been notified of an inspection, our Pre-VAT Inspection Review is an independent review of your VAT position to help you prepare and identify any areas that may have attracted HMRC’s attention.

Or, to stay on top of compliance risks, a VAT Healthcheck is advised.

Led by Colin Laidlaw, who has many years experience working at HMRC and with businesses, the Pre-VAT Inspection Review or VAT Healthcheck includes:

✔ Review of VAT returns and records

✔ Transaction testing, review of VAT accounting processes

✔ Identification of potential errors and risks

✔ Practical recommendations for improvement

Learn more https://wearegalloways.com/hmrc-vat-inspection-reviews/

31 July: The tax deadline many people forget.

While most people associate Self-Assessment with the 31 January deadline, many taxpayers are also required to make a second Payment on Account by 31 July.

Missing the deadline could result in interest charges,. At Galloways, our dedicated tax teams support clients through our network of offices, helping individuals, business owners, directors and landlords understand their obligations and plan ahead with confidence.
We can help with:

• Self-Assessment tax returns
• Tax planning and forecasting
• Capital Gains Tax advice
• Property income reporting
• IHT planning
• HMRC correspondence and enquiries
• Tax-efficient business and personal planning

Contact your nearest Galloways office to speak to a member of our tax team. https://lnkd.in/dVrfdnJA