A strong grip and understanding of the financials is where Berrys excel and we know that month by month we are in an informed position as to where our business is and what we need to do to affect change if required.

In addition to this, Keith and his team offer a superb level of on-going support, sometimes in areas that we hadn’t even previously considered.  Help and advice is only a phone call or email away and the response times are almost immediate.  All of this has ultimately enabled us to concentrate on growing our business in a difficult economic climate safe in the knowledge that Keith and his team have our best interests at heart.

If you want an accountancy firm who deliver a first class level of business support in a local, friendly way then look no further.  Berrys WILL contribute to your business efficiency and ultimately your bottom line.  I couldn’t recommend them highly enough!

Income Tax

From 6^th April 2013 the top rate of income tax will be reduced from 50% to 45%.

Another significant rise in the personal tax allowance. The allowance for 2013/2014 will be £9,205, a rise of £1,100.

Restrictions on age related income tax allowances for the elderly, these changes come into effect from April 2013.

The previously announced cut in the basic rate tax band. From April 2012 this will be further reduced to £34,371 and from April 2013 to £32,246.

Corporation Tax

Further accelerated reductions in the main rate of corporation tax. For the financial year 2012/2013 the rate will be 24%, 2013/2014 the rate will be 23% and for 2014/2015 it will be 22%.

VAT

Plans to close loopholes may see increased exposure to VAT for hairdressers, producers of hot foods and operators of static caravan parks.

Increases in the registration and reregistration thresholds from 1^st April 2012 to £77,000 and £75,000 respectively.

Stamp Duty Land Tax

New increased rates for properties costing more than £2,000,000 with special attention being paid to those being purchased by and already owned by corporate entities.

Tax Credits

Further changes are soon to be implemented which will further restrict this benefit.

Child Benefit Withdrawal

Child benefit will only be withdrawn from higher rate taxpayers if someone in the household has an income of more than £50,000.

Restrictions On Tax Relief

New cap on tax reliefs set at 25% of total income for anyone claiming more than £50,000 in a year, but no significant change to pension relief. These new rules will apply from April 2013.

Other Matters

Tax simplification for small businesses will be consulted with a view to introducing measures in the Finance Bill 2013. The measures include a voluntary cash accounting system for businesses up to the VAT registration threshold and clarification on the system for deduction of business use of cars, motorcycles and home.

Gaming machine duty changes.

Changes in the rules surrounding the claiming of capital allowances on fixtures.

Changes in the taxation of non domiciliaries.

Changes in company car taxation.

Changes to EIS, EMI and VCT investments.

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For more detailed information please see the Rates and Allowances Tables or the HMRC Budget Overview as shown on our website.

We would of course point out that the effect of tax changes will vary according to your individual circumstances and that we will be more than happy to discuss your specific requirements.

Please note that the information contained above is by its nature in a summary format and that neither Berrys Business Services Ltd nor its employees can accept liability for loss arising from reliance on the information provided in this summary.

Please visit our dedicated Budget 2012 page for information!

I like how they are pro-active in their approach with us, using straightforward easy to understand language. When we ask a question we are confident it will be researched and answered in a professional and prompt manner.

The team at Berrys has always been polite and efficient and I would have no hesitation in recommending them.

James Tythcott and Svetlana Sluman both passed their ACCA exams which they took in December 2011.

James passed the Taxation and Corporate & Business Law papers and Svetlana passed the Financial Reporting paper.

Congratulations to them from all the other staff of Berrys!

One particular issue we had with our bank was resolved very swiftly when I engaged Keith from Berrys to handle the matter. Within days we had an apology from the bank and a £10,000 compensation package, this I am sure would not have been achieved without the intervention from Berrys accountants.

I would just like to add that we are extremely happy with the service that has been provided so far, and hope to progress the relationship further as we develop as a company.

He kept me well informed and talked me through everything step by step and in great detail so I would understand everything.

Nothing was too much trouble and Berry’s accountants were always on the other end of the phone if I needed to ask anything.

They were professional and friendly and actually seemed to really care about your needs and requirements.

Lead Director

Contact for business planning and advice, tax planning and consultancy.

Mobile: 07970 641878
Email: keith.berry@berrysaccountants.co.uk