KL Virtual Accounts Services

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KL Virtual Accounts Services

I provide a friendly and comprehensive Virtual Accounts Service to Individuals & SME

20/10/2025

Such a wonderful half term seeing family & friends ❤️

Few of the highlights …

- Alton Towers Waterpark 💦
- Wendover Woods 🌳
- Pitts River Museum, Oxford 💀
- Millets Farm & Abbey Meadows 🛝
- LEGOLAND 🧱
- Steph & Harry Wedding 💕
- Bowling, Arcades & Gardening 🍂

But nothing beats just spending time with amazing people & being able to give the ones you love dearly a hug ❤️

Missing them already 🥹 … Now back to work .. Oh wait .. everything is offline 🫣🤦🏼‍♀️

04/07/2025

Honestly one of my favourite things to do, is to walk the dog with my beautiful small humans .. they’re always up for an adventure!

30/06/2025

Are you prepared for a new month?? Because somehow it is already here.

Just a few tasks that should be completed for the previous month to keep your small business finances up to date 🧾

- Review your QuickBooks, Xero or whichever method you prefer to use, and reconcile all your bank accounts & credit cards.

- Set aside 30% of your income for taxes.

- Review your profit and loss statement against previous months to see how your business is performing.

- Invoice your clients, pay your suppliers and chase outstanding invoices.

- Don’t forget the best part, paying yourself! Make sure to transfer whatever you decide is your pay to your personal bank. Always keep them separate!

Still unsure if you have caught everything? Give me an email, DM or WhatsApp message today, and we'll get it straightened out!

Contact me today 👇

E - [email protected]

https://calendly.com/klvaservices

27/06/2025

A - Z of UK Tax: Capital Gains Tax (CGT) - UPDATED

- Capital Gain: The profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value i.e. land, buildings and shares.

- Capital Gains Tax: The tax on the profit made - it is the gain (increase) that is taxed, not the total amount of money received.

CGT Rates & Allowances 2025/2026:

Annual exempt amount = £3,000.00
(for individuals, personal representatives and trustees for disabled people)

Annual exempt amount = £1,500.00
(for other trustees)

Rates for 6 April 2025 onwards …

👉 18% and 24% for individuals (not including carried interest gains)
👉 32% for individuals for carried interest gains
👉 24% for trustees
👉 24% for personal representatives of someone who has died (not including carried interest gains)
👉 32% for personal representatives of someone who has died for carried interest gains
👉 14% for gains qualifying for Business Asset Disposal Relief and Investors’ Relief

Rates for 30 October 2024 to 5 April 2025

👉 18% and 24% for individuals (not including carried interest gains)
👉 18% and 28% for individuals for carried interest gains
👉 24% for trustees
👉 24% for personal representatives of someone who has died (not including carried interest gains)
👉 28% for personal representatives of someone who has died for carried interest gains
👉 10% for gains qualifying for Business Asset Disposal Relief and Investors’ Relief

Either your Capital Gain will need to be reported via self-assessment or if for a Residential Property sale then a Capital Gains Tax on UK property return.

Calculating your Capital Gain and Capital Gains Tax can be tricky … Confused?

Get in touch 📲

E - [email protected]

https://calendly.com/klvaservices

23/06/2025

It's Monday, just remember …

'You are stronger than you believe … especially after a coffee'

Struggling to keep on top of your businesses day to day finances?

Want to know what should you outsource today in your business?

Consider the things you are less skilled at, don’t enjoy and can afford to outsource (whether in time, money, or both).

Handling a business nowadays can undeniably be a time-consuming and challenging task, this is where outsourcing kicks in.

Want to know more about how I can help with managing your business finances? Let's chat!

E - [email protected]

https://calendly.com/klvaservices

18/06/2025

A to Z of UK Tax - E is for Emergency Tax Codes

Emergency tax codes are temporary tax codes used when HMRC does not have enough information about your income.

Here are the main types of emergency tax codes:

BR: All income taxed at the basic rate (20%) without any personal allowance deducted.

0T: All income taxed without any personal allowance deducted.

D0: All income taxed at the higher rate (40%) without any personal allowance deducted.

W1/M1 or X: Receiving the personal allowance for the week or month but no backlog of personal allowance given.

1257L: The most common emergency tax code for the tax year 2024/2025, reflecting the standard personal allowance.

If you are on an emergency tax code, it is important to contact HMRC to ensure you are paying the correct amount of tax.

Need some help decoding your tax code?

Contact me today - [email protected]

https://calendly.com/klvaservices

16/06/2025

“The art of bookkeeping is the art of keeping track of life’s most important pursuits.”

How do I store receipts, expenses & purchases?

No Software? Create a digital filing structure in either your Microsoft OneDrive, Dropbox or ICloud for example;

Business Admin > Finance > Accounts > Relevant Tax Year > Receipts > Organise by Month (if required)

Tip: Rename the file with the date of the purchase at the beginning [12.06.2025 - Amazon - £12.50]

Software? Use a ‘Receipt Scanning App’

Most accounting software's have Apps that they integrate with, Xero has a free software called Hubdoc or you can forward PDF receipts to Xero directly via email.

There is no requirement to keep paper copies of your businesses receipts, expenses & purchases, keeping them electronically is perfectly acceptable to HMRC.

Unsure? Drop me a n email or book in a chat via the link below

E - [email protected]

https://calendly.com/klvaservices

13/06/2025

Licence renewed for another year 🥳

✅ Bookkeeping
✅ Financial Accounting for Sole Trader & Partnerships
✅ Payroll
✅ Value Added Tax (VAT)
✅ Computerised Accountancy Systems

✅ Financial Accounting for statutory purposes
✅ Budgeting & Forecasting
✅ Management Accounting

✅ Personal Income Tax
✅ Business Income Tax
✅ Corporation Tax
✅ Capital Gains Tax
✅ Inheritance Tax

Need assistance? Get in touch today ⬇️

E - [email protected]

https://calendly.com/klvaservices

12/06/2025

Email signature update 👩🏼‍💻🖋️

[Website is not noted as it needs an update 🤣]

09/06/2025

Monday Morning Motivation!!

"You don't have to be great to start, but you have to start to be great." - Zig Ziglar

Mondays are the best day to reset and start afresh, hope you all have a great week ahead and don't forget to take pictures of your physical receipts and upload them to your online database.

27/05/2025

Building my business while he eats chocolate cake & watches Blippy … 🤣❤️

Hope everyone had a great Bank Holiday Weekend ☺️

23/05/2025

Have You Planned Any Outings Or Trips For The Weekend?

We are staying at home for the Bank Holiday weekend but with the beach on our doorstep, I hope the Scottish weather continues to play nice! ☀️

Address

West Kilbride

Website

http://www.Kayleigh-Maxwell.co.uk/

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