February news: April tax planning and more

Now that all personal tax returns have been filed, we are full steam ahead towards the budget and April tax planning.

April tax planning

The new tax year starts 6 April 2023, so you have a couple of months to consider your options. Once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned before the 6 April. To discuss your options for April tax planning in more detail, please give us a call or send an email to Ben or Richard by contacting us here.

Banking scams to watch out for

We are continually hearing from Bank Managers about scams doing the rounds at the moment and we thought it would be useful to highlight a couple of scenarios to help you to stay extra vigilant when banking online.
Calls and texts from ‘your bank’

Don’t be fooled by messages claiming to be from your bank or credit card company. In some cases they spoof the caller ID, so that it appears to match the bank’s genuine phone number. Others make automated ‘robocalls’ that deliver pre-recorded messages inviting you to press a number on the keypad to speak to them about a spurious problem, such as a suspicious payment on your account.

Scammers will often have some personal details about you already, to make the scam even more convincing.

We also see many examples of fake bank texts that try to get you to follow a link to a fake website or phone a fake helpline that puts you straight through to fraudsters. The end game is to convince you to hand over sensitive data; move money to a supposedly ‘safe account’ that the fraudster controls; or grant access to your device using remote access or screen-sharing software.

Stay safe: Ignore any links included in texts and never trust Caller ID. If you have any doubts about the authenticity of a message, contact your bank or card issuer using a trusted method such as their mobile app or official phone number (check official statements or the number printed on the back of your card).

To read more, this article is useful at highlighting the various banking scams to watch out for. You can read it here.

The Budget will be coming up next month. Look out for our detailed email confirming all the key items for you and your business.

The BR golf day is taking place this year on 4 May 2023. We will be sending out invites in the next couple of weeks.

More about Barnett Ravenscroft Chartered Accountants

Barnett Ravenscroft Chartered Accountants have been looking after family businesses for over 45 years.

FOR YOU – some of our clients are now in to their third generations of family and we have worked with them all.

FOR BUSINESS – we are on hand to provide expert advise to improve your business and increase its longevity.

FOR LIFE – we provide advice and guidance around inheritance tax and estate planning, how to hand your business down not only in the most tax efficient manner but also in the best manner to reward and motivate the various family members.

Estate planning with family businesses can be a minefield, not only the tax implications but the implications for the family itself, particularly where some family members are involved in the business and some are not. We have a wealth of experience in these areas to help you make the fair and correct decisions.

Family businesses exist to provide income and wealth for the family, we are here to help you ensure that it does.

Meet our team

At Barnett Ravenscroft we have built a team that consists of individuals who are all highly qualified in their respective fields.
Although our services are all partner led we use experienced managers to ensure that the needs of all of our clients are promptly and efficiently dealt with.

Our accounts and audit managers are all experienced and knowledgeable and provide an excellent service to our clients. They are flexible and pro-active ensuring that clients receive added value from all of our services.

Our specialist personal tax department is under the direction of a very experienced manager who offers a complete service having a wealth of experience in handling client’s personal tax affairs. The team not only ensure that clients are aware of and meet the many filing deadlines that need to be adhered to, but also ensure that effective tax planning is carried out and that clients are provided with the most tax efficient solutions for their needs.

Our payroll and VAT managers ensure that all of our client’s payroll and VAT needs are met efficiently, effectively and on time. They have a wide range of experience in dealing with all of the issues that clients face in ensuring that deadlines are met and that liabilities are accurately calculated and paid.

All of our staff are friendly, efficient and excellent at meeting the increasingly growing needs of our clients.