Eaton & Co. Accountants

Eaton & Co. Accountants Accountancy Practice in Dromore Co.Down.

11/05/2026

For those that haven’t seen it, I will be carrying 70kg for 20km to raise much needed funds for life lengthening treatment for 5 year old Tate who has Sanfilippo Syndrome, also known as childhood dementia.

Please give the video a watch 💜

Whether it’s a donation, a like, comment, share, any support you can give would be appreciated more than you’ll ever know.

Thank you everyone 💜

🚨 Attention all subcontractors! 🚨The 2025/26 tax year ends on 5th April, which means CIS refunds will be coming up soon....
31/03/2026

🚨 Attention all subcontractors! 🚨

The 2025/26 tax year ends on 5th April, which means CIS refunds will be coming up soon. 💰

If you’ve been paying tax through CIS, you could be due a refund — and now is the perfect time to get in touch and get the ball rolling so everything is ready to go as soon as the tax year ends.

✔ Quick and simple process
✔ We handle everything for you
✔ Maximise your refund

Don’t wait until everyone else rushes in April. Get organised early and be first in line.

📩 Send us a message today and we’ll get you set up ready for your 2025/26 CIS refund.

⏳ Just 1 week until the new tax year begins!That means it’s almost time to get your tax return filed right at the start ...
30/03/2026

⏳ Just 1 week until the new tax year begins!

That means it’s almost time to get your tax return filed right at the start — and getting in early comes with real advantages:

✅ Maximise tax efficiency with more time to plan ahead
✅ Up to 9 months to budget and prepare for your tax bill
✅ Stay in control and avoid the January rush

Starting early isn’t about rushing — it’s about being organised and making smarter financial decisions.

📩 Get in touch now to get the ball rolling as soon as the new tax year starts!

Self-Employed? You Don’t “Pay Yourself a Salary” ❌This is one of the most common mistakes we see.If you’re a sole trader...
12/02/2026

Self-Employed? You Don’t “Pay Yourself a Salary” ❌

This is one of the most common mistakes we see.

If you’re a sole trader, you and the business are legally the same — so:

• You can’t put your own “salary” as a business expense
• Money you take out is called drawings, not wages
• Drawings are not tax deductible
• You’re taxed on the business profit — not what you withdraw

Only limited companies can pay directors a salary through payroll.

Getting this wrong can overstate expenses and create problems with HMRC ⚠️

Not sure if you’re recording this correctly?
Message us and we’ll help you fix it 📩

🚨 HMRC LETTER LANDING WITH LANDLORDS 🚨If you rent out property, this one’s for you 👀What’s the letter about?HMRC are wri...
28/01/2026

🚨 HMRC LETTER LANDING WITH LANDLORDS 🚨

If you rent out property, this one’s for you 👀

What’s the letter about?

HMRC are writing to people they believe are (or have been) landlords.

They’re basically saying:
👉 “We think you’ve earned rental income – have you told us about it?”

Why are HMRC sending this now?

HMRC get data from lots of sources and compare it to tax returns.
If something doesn’t add up, they ask questions.

What do they want you to do? (Within 30 days ⏰)

✔️ Confirm you’ve already declared rental income
OR
✔️ Explain why you don’t need to (no profit, never rented, etc.)
OR
✔️ Use HMRC’s Let Property Campaign to disclose income you haven’t declared correctly

Who should be paying attention?

🏠 Landlords who:
• Haven’t declared rental income
• Declared the wrong amount
• Aren’t sure they’ve done it right
• Have “meant to deal with it later” 😬

Important bit 👇
❗ If you’re a landlord and haven’t received this letter —
don’t relax.
Take it as your sign to get your tax affairs in order before HMRC come knocking.

💡 The good news?

Sorting things before HMRC chase you usually means:
✔️ Lower penalties
✔️ Less stress
✔️ No nasty surprises

If you’ve had the letter — or you’re worried you might — message us now and let’s get it sorted.

🎄 Thank You & Merry Christmas 🎄As the year comes to a close, we’d like to take a moment to say thank you to all our wond...
22/12/2025

🎄 Thank You & Merry Christmas 🎄

As the year comes to a close, we’d like to take a moment to say thank you to all our wonderful clients for your continued support and trust throughout the year.

We truly appreciate working with you and look forward to continuing our partnership in the year ahead.

From all of us, we wish you a very Merry Christmas and a happy, healthy New Year 🎁✨

🎄 Last chance before Christmas! 🎄Tomorrow (22nd December) is our final day of the year for consultations. If you’ve been...
21/12/2025

🎄 Last chance before Christmas! 🎄

Tomorrow (22nd December) is our final day of the year for consultations. If you’ve been putting off a question, need clarity on your accounts, or want to head into the New Year feeling organised and stress-free — now’s the time.

✔️ Peace of mind over Christmas
✔️ Start the New Year confident and prepared
✔️ Friendly, expert advice when you need it most

📩 Message us here or email [email protected] to secure your consultation.

From all of us at Eaton & Co, we wish you a relaxed and joyful Christmas 🎅🎁✨

💷 VAT FLAT RATE vs STANDARD RATE — WHICH IS BETTER? If you’re VAT registered, this choice matters 👇🔵 STANDARD VAT SCHEME...
18/12/2025

💷 VAT FLAT RATE vs STANDARD RATE — WHICH IS BETTER?

If you’re VAT registered, this choice matters 👇

🔵 STANDARD VAT SCHEME
You:
✔️ Charge 20% VAT on sales
✔️ Reclaim VAT on most business expenses
✔️ Pay HMRC the difference

✅ Best for businesses with lots of VAT-able costs

❌ More bookkeeping

⸻

🟢 FLAT RATE VAT SCHEME
You:
✔️ Still charge 20% VAT to customers
✔️ Pay HMRC a fixed percentage based on your industry
✔️ Usually don’t reclaim VAT on expenses (except some assets)

💡 The difference can be extra profit — but not always!

✅ Simpler admin
✅ Predictable payments

❌ Not good if you have high costs

⸻

⚠️ Important Notes
📌 Flat Rate Scheme turnover limit: £150,000 (ex VAT)
📌 You must pick the correct trade percentage
📌 HMRC can backdate errors

⸻

💡 Which should you choose?
• High expenses? → Standard Rate
• Low expenses & simple setup? → Flat Rate
• Unsure? → Run the numbers first

💬 Comment “VAT” if you want help choosing the right scheme

If you’re self-employed and dreaming of owning a home, here’s the truth you need to hear:What you declare is what you qu...
17/12/2025

If you’re self-employed and dreaming of owning a home, here’s the truth you need to hear:

What you declare is what you qualify for. 🏡✨

💼 When you’re self-employed, lenders look closely at:
• Your tax returns
• Consistent income over at least 2 years
• How much you actually claim as income

You can’t build the life you want on income that only exists “off the books.”

Declare it. Track it. Own it.

Because the income you show today is the key that unlocks tomorrow’s mortgage approval. 🔑

Your hard work deserves to translate into real opportunities — property, stability, wealth, legacy. Don’t hold yourself back by hiding the very thing you’ve worked so hard to earn.

Ready to get mortgage-ready the right way?

Message us for advice. 💬✨

🏢✨ When should you incorporate your business?(aka: When does moving from sole trader to Limited Company make sense?)Bein...
16/12/2025

🏢✨ When should you incorporate your business?
(aka: When does moving from sole trader to Limited Company make sense?)

Being self-employed works well for many businesses — until the numbers (and your wider income) change.

Here’s when it might be time 👇

💰 1. You’re making consistent profit (£35k–£40k+)
This is often the tipping point where a limited company becomes more tax-efficient.

Why?
✔️ Corporation tax instead of income tax
✔️ Control over when & how you pay yourself
✔️ Greater savings as profits increase

🛡️ 2. You want personal liability protection
As a sole trader, you and the business are the same.
With a LTD, the company is a separate legal entity — helping protect your personal assets.

🧾 3. You want to pay yourself more tax-efficiently
A mix of salary + dividends can reduce overall tax.

Plus access to:
✔️ Employer pension contributions
✔️ Trivial benefits
✔️ Broader allowable expenses

📈 4. Your business is growing or scaling
A limited company can support growth when you:
• work with larger clients
• hire staff or contractors
• outsource work
• reinvest profits

🤝 5. You want a more professional structure
A LTD often appears more established — helpful for:
• contracts & tenders
• partnerships
• funding & finance

⚠️ Other income matters too
Your total income affects the decision — not just business profits.

This includes:
• Salary from a day job
• Rental income
• Dividends or investments
• A partner’s income (for tax planning)

Hitting higher tax bands personally can make incorporating sooner more beneficial — or change how you extract income.

⚠️ It might NOT be the right time if:
• Profits are inconsistent
• Earnings are still low
• You don’t want extra admin yet
• Simplicity matters more than tax planning

⭐ Simple rule of thumb:
If profits are consistently £30k+, incorporation is worth reviewing.
At £50k+, it’s often a strong financial move — especially with other income streams.

📲 Unsure when to make the move? Running the numbers with your full income picture gives a clear answer — and can save you thousands.

Address

22 Market Square, Unit 2
Dromore
BT251AW

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 3pm

Website

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