JB Accounts

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Sole practitioner accountant and bookkeeping services in Cornwall.

JB Accounts – Cornwall Accountant & Bookkeeping Services

JB Accounts is run by Jennifer Burnett, a friendly and professional accountant based in St Dennis, near St Austell, Cornwall. I help sole traders, partnerships and limited companies across Cornwall and the UK stay on top of their finances with clear, practical advice. I specialise in:
• Bookkeeping & VAT returns
• Payroll & Year-End Accounts
• Management Accounts & Tax Returns
• Cloud accounting software support (QuickBooks, FreeAgent, Sage)

I pride myself on clear communication, plain-English explanations, and a supportive, approachable service tailored to each client’s business. Whether you’re in St Dennis, St Austell, or surrounding areas, I’m here to make accounting simple, compliant, and stress free. Based in St Dennis, Cornwall
Visit my website: jbaccounts.co.uk

Email: [email protected]

13/10/2026

: Benefit in Kind

A benefit in kind is a non-cash perk an employer provides to an employee or director on top of their salary. HMRC treats it as taxable income.

Common examples include a company car, private medical insurance, a gym membership paid for by the business, or an interest-free loan above £10,000.

HMRC assigns a cash equivalent value to each benefit. The employee pays income tax on that value at their normal rate. The employer pays Class 1A National Insurance on the same value, which is 15% for 26/27.

Most benefits are currently reported to HMRC once a year on a P11D form. From April 2027 this starts to change, with mandatory payrolling of certain benefits coming in and tax being collected in real time through payroll instead.

Not everything counts as a taxable benefit. Some perks are exempt, including professional subscriptions on HMRC’s approved list and trivial benefits costing no more than £50.

Not sure whether a perk your business provides counts as a benefit in kind? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

09/10/2026

I bought some new earrings to wear at Cornwall Business Show yesterday. Safe to say they were a talking point and I had lots of compliments.

Calculator earrings, yay or nay?

08/10/2026

All set up and looking forward to the Cornwall Business Show

06/10/2026

: Liquidity

Liquidity is a measure of how easily a business can access cash to pay its bills as they fall due.

A liquid business has enough cash available, or assets it can quickly turn into cash, to meet its obligations. An illiquid business does not, even if it is profitable on paper.

This is an important distinction. A business can be turning a healthy profit and still get into serious trouble if the cash is not there when it needs to be. Money tied up in unpaid invoices, stock, or equipment is not the same as money in the bank when a bill arrives.

Common causes of liquidity problems for small businesses include customers paying late, seasonal income with year-round costs, and large tax bills landing at difficult times of year.

Keeping an eye on your liquidity, not just your profit, is one of the most useful financial habits you can develop as a business owner.

Got a question about your business finances? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

29/09/2026

JB Accounts is exhibiting at Cornwall Business Show

I will be at stand 29 and would love people to stop by and say hi. There is a mix of JB Accounts swag and some from my suppliers available too. I may even have a little competition but you'll have to come and see me to find out more...

The show is free to enter, grab your ticket at https://cornwallbusinessshow.co.uk/free-entry-registration/

22/09/2026

: Money Laundering

Money laundering is the process of making money obtained illegally appear to have come from a legitimate source. Taking dirty money and making it look clean.

It is a serious criminal offence and something the professional services sector, including accountants, is legally required to actively work against.

Under the Money Laundering Regulations 2017, accountants must verify the identity of every client before taking them on, carry out ongoing monitoring, keep detailed records, and report suspicious activity where relevant.

This is why when you approach an accountant for the first time, one of the first things they ask for is proof of who you are. It is not personal. Every client goes through the same checks without exception.

Accountants are supervised for compliance by their professional body or by HMRC directly.

Got a question about what to expect when you first approach an accountant? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

16/09/2026

Day 5 of the room spinning and a headache. Dr says viral labyrinthitis

15/09/2026

: Onboarding

Onboarding is the process of setting you up as a new client. It is everything that happens between the moment you agree to work with an accountant and the point where the actual work begins.

In accountancy this covers several specific steps. Your accountant will need to verify your identity as part of their anti-money laundering obligations, which is a legal requirement. You will both sign a Letter of Engagement, the contract setting out what work will be done and on what terms. Your accountant will also need your authority to deal with HMRC on your behalf. This is done online, and without it HMRC will not discuss your tax affairs with anyone other than you.

They will also need information about your previous tax history and any records you hold.

It can feel like a lot of admin before anything has started, but it is there for good reason and getting it right at the beginning makes everything much smoother.

Got a question about what working with an accountant actually involves? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

08/09/2026

: Directors' Loan Account

A Directors' Loan Account (DLA) is a record of money that has passed between you and your company that is not salary, dividends, or a reimbursed expense.

Most often it works in your favour. You have paid for something on the company's behalf, or put your own cash in to help with cash flow, and the company owes that money back to you. You can take it back out again whenever the company can afford it, with no tax to pay, because it is simply your own money being returned.

It works the other way too, and this is the side that catches people out. If you draw more out of the company than it owes you, your loan account goes overdrawn, meaning you now owe the company money. If that balance is still outstanding nine months after the company's year end, the company has to pay extra Corporation Tax on the amount. For loans made on or after 6th April 2026, that rate is 35.75%. That tax comes back once the loan is repaid, but the company has to find the money in the meantime.

There is also a separate rule if the overdrawn balance goes above £10,000 at any point in the year. At that level it counts as a benefit in kind, which means extra tax for you personally and a Class 1A National Insurance bill for the company.

Not sure where your Directors' Loan Account stands? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

01/09/2026

: Confirmation Statement

A Confirmation Statement is a document that every UK limited company must file with Companies House at least once a year. It does not go to HMRC and it is not a financial statement. It simply confirms that the information Companies House holds about your company is still accurate and up to date.

It covers your registered office address, directors, shareholders, and the nature of your business activity.

You have 14 days after your review period ends to file it. The review period is 12 months from your company's incorporation date or the date of your last Confirmation Statement. There is also a fee to pay each time you file, even if nothing has changed.

It applies to every limited company, including those that are dormant or not actively trading. Filing late is a criminal offence and Companies House can strike your company off the register if it is not filed.

One thing to be clear on: this is not the same as your annual accounts. They are a completely separate obligation.

If you run a limited company and are not sure whether yours is up to date, it is worth checking sooner rather than later. Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

Address

Saint Austell

Telephone

+441726932182

Website

https://jbaccounts.co.uk/

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