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Celebrating 25 Years in Business

We are delighted to be celebrating 25 years of Accounting and Tax Advice in Bedford, first opening the doors to Cowley Holmes Accountants in 1992. We would like to thank our clients, a number of whom have been with the Practice since it started, and looks forward to the Practice serving them the over the next[...] Read more »

Winner of Beds SME Best Customer Service 2017

We are delighted to announce we are a winner at the SME Bedfordshire Business Awards 2017 for the Best Customer Service Award! Thank you to everyone that voted for us.

keep your Class 2 NIC record up to date if you have low or no profits

Until 5 April 2015, every ‘self-employed earner’ was, if he was over the age of 16 and under pensionable age, liable to pay Class 2 contributions at a prescribed weekly rate. From 6 April 2015, this liability has applied only to earners with relevant profits from a trade. Before 6 April 2015, this was enough[...] Read more »

Stamp Duty on Second Homes

Since 1 April 2016 there has been a 3% supplementary Stamp Duty Land Tax (SDLT) charge payable on the purchase of second and subsequent residential properties costing more than £40,000. This was clearly aimed at buy-to-let investors as well as those buying second homes. Note that this additional 3% charge does not apply where the[...] Read more »

HMRC Computer isn’t always correct

HM Revenue and Customs have acknowledged that their software and some commercial software used by accountants doesn’t always come up with the right amount of tax payable! You may have seen this reported in some newspapers such as the Daily Telegraph. This arises because the tax system of different income tax personal allowances, dividend allowances,[...] Read more »

Finalists in the SME Bedfordshire Business Awards

Cowley Holmes are delighted to announce they have been successful in reaching the finals of the SME Bedfordshire Business Awards 2017 for Best Customer Service. The team will be attending the Gala Awards Final at The Bedford Corn Exchange on 12th July. Thank you to everyone that voted for us.  

Tax and Accounting Focus

The PM’s surprise announcement of a ‘snap’ General Election last month may suit politics, but the Chartered Institute of Taxation (CIOT) had already warned it was unlikely to suit good tax policy making.  The government has now deleted 72 out of 135 clauses, and 18 out of 29 schedules – leaving just 140 pages out[...] Read more »

Celebrating 25 years

This year Cowley Holmes are celebrating 25 years of helping their clients.  This has only been possible with the ever present commitment of the staff at Cowley Holmes to ensure clients are well looked after and receive the best possible advice. Please would you help me in congratulating the staff by voting for us in[...] Read more »

Tax Question Time – Losses on Property Let at Undervalue

Q. My client has bought a flat which is being let to her son. He has recently started his working life in a relatively low paid job so my client is helping out by charging him less than market rent and, as a result, expects her mortgage interest and other expenses to exceed the rents[...] Read more »

Tax Question Time – Stamp Duty Land Tax

Q. I note that the higher rate of stamp duty land tax on the purchase of additional dwellings only applies to the acquisition of a major interest. Does this mean the higher rate does not apply if I buy only a 49% share in a property? How is the tax charged if I arrange to[...] Read more »



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