Haywoods

Haywoods Chartered Accountants, Tax Advisors and Business Advisors located in Bolton Haywoods is a firm of Chartered Accountants and business advisors based in Bolton.

We specialise in accountancy and taxation services for small and medium sized businesses and provide personal tax planning services for individuals. At Haywoods our aim is to be a progressive firm, moving with the times both in terms of the advice we offer and also the tools we have at our disposal. Over the last couple of years we have launched several initiatives that have enabled clients reduce their bookkeeping burdens and reach their business goals.

🚀 Does Your Business Qualify for R&D Tax Relief? 💡The UK government offers Research & Development (R&D) tax relief to en...
28/02/2025

🚀 Does Your Business Qualify for R&D Tax Relief? 💡

The UK government offers Research & Development (R&D) tax relief to encourage innovation—but does your company qualify? Here’s what you need to know:

✅ Who Can Claim?

Your company must be subject to UK Corporation Tax
SMEs (fewer than 500 employees, turnover

🚨 Changes to Off-Payroll Working Rules Coming in 2026! 🚨From April 2025, company size thresholds under the Companies Act...
21/02/2025

🚨 Changes to Off-Payroll Working Rules Coming in 2026! 🚨

From April 2025, company size thresholds under the Companies Act 2006 are increasing. This affects the off-payroll working rules (IR35)—but not until April 2026 at the earliest.

🔹 New “Small” Company Criteria:

✅ Turnover ≤ £15M (up from £10.2M)
✅ Balance sheet total ≤ £7.5M (up from £5.1M)
✅ Employees: 50 (unchanged)

💼 What This Means:

Medium & large companies must still determine contractors' tax status.
Smaller companies (from April 2026) will shift responsibility back to contractors' intermediaries.
No transition period—rules apply immediately when reclassified.

📢 HMRC will update guidance soon. Stay informed!

Source: Changes to size thresholds for off payroll working | ICAEW

Disclaimer:
This post is for information purposes only and does not constitute financial or tax advice.
Individual situations vary, and we recommend consulting with a professional before making any decisions.
Should you wish to discuss anything contained in this post in more detail please do get in touch so we can assess your circumstances and provide tailored guidance.

Did you know you can legally reduce your tax bill by claiming work-related expenses? Many employees miss out on tax reli...
19/02/2025

Did you know you can legally reduce your tax bill by claiming work-related expenses? Many employees miss out on tax relief they’re entitled to! Here’s what you can claim:

✅ Uniforms, Clothing & Tools – Flat rate claims up to £140, depending on your industry. No receipts needed for standard claims! 👕🔧
✅ Working from Home – If your job requires home working, claim £6 per week or actual expenses with receipts. 🏠📞
✅ Vehicle Costs – Business mileage rates: 45p/mile for cars, 24p for motorcycles, 20p for bicycles. 🚗💨
✅ Professional Fees & Memberships – Tax relief available for approved industry subscriptions. 📜👨‍💼
✅ Travel & Overnight Stays – Claim food, hotels, transport, parking, and more if traveling for work. 🏨🍽️

💡 How to Claim?
📌 Use Form P87 (by post) or enter expenses on your Self-Assessment tax return.
📌 Keep receipts for exact claims. No need for receipts on flat rate expenses!

Don’t leave money on the table—claim what you’re owed today! 💰💼

🔗 Find out more: https://app.croneri.co.uk/feature-articles/how-employees-can-claim-tax-relief-work-expenses



Disclaimer: This information is for informational purposes only and does not constitute financial advice.
Individual financial situations vary, and we recommend consulting with a professional before making any financial decisions.
Feel free to give us a call so we can assess your circumstances and provide tailored guidance.

Address

1 Myrtle Street
Bolton
BL13AH

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+441204398849

Website

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