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About

CMA Accountancy are a small team of reliable, approachable and proactive accountants who will do more than just respond to your needs but work alongside you to help you succeed.

We are based in West Yorkshire serving clients within the surrounding areas offering accounts, taxation, payroll and business advisory and support services to a wide range of businesses and individuals.

We are dedicated to providing the following:

  • Timely service and a quick turn around of work
  • Clarity of fees with no unexpected invoices
  • Close working relationships with all our clients

To find out more about how we can help you and your business, click here for an overview of our services.

Services

We offer services in all areas of accounts and taxation work for Individuals, Partnerships, Limited Companies and Startups.

Our services include:

  • Self Assessment
  • Annual Accounts Preparation
  • Book-Keeping/Vat
  • Debt Collection
  • Management Accounts
  • Payroll
  • Business planning/advice
  • Compliance checking
  • Computerised systems

For more information on the services we offer and for advice concerning any aspects of your business please contact us.

News

19.03.14

2014 BUDGET - MEASURES FOR BUSINESS - CLICK HERE

The Chancellor George Osborne delivered his fifth Budget statement to the House of Commons on Wednesday 19 March. Here's a summary of Budget 2014 measures that affect businesses.

  • Exports: the reach and support that UK Trade and Investment offers to businesses will be expanded
  • Housing: £0.5bn of finance to support small house-building firms
  • Apprenticeships: the apprenticeships grant for small employers is extended
  • Business rates: discounts for businesses in enterprise zones extended for three years
  • R&D: the research and development tax credit for small loss-making firms increases from 11 per cent to 14.5 per cent
  • Capital investment: the Annual Investment Allowance (AIA) is doubled to £500,000 from April 2014 and extended to 2015
  • Energy: the carbon price floor is frozen at £18 per ton of carbon dioxide from 2016 until 2020; compensation for energy-intensive industries extended to 2019/20.

19.03.14

2014 BUDGET - PERSONAL FINANCE - CLICK HERE

Described as a "Budget for the makers, the doers, and the savers," Chancellor George Osborne's fifth budget delivered a range of measures encouraged to help personal finances. Here's our summary of the key announcements.

Duties:

  • The fuel duty rise planned for September 2014 will not take place
  • Bingo duty will be halved to 10 per cent
  • Tobacco duty will continue to rise at two per cent above inflation
  • Alcohol duty will rise in line with inflation with the exception of Scottish whisky and cider, which are frozen
  • Beer duty will be cut by one penny per pint.

Personal tax:

  • As previously announced the personal tax allowance will increase to £10,000 a year from April 2014 
  • It will rise to £10,500 a year from April 2015
  • The higher rate threshold will increase to £41,865 in April 2014 and to £42,285 in April 2015
  • The transferable tax allowance for married couples and civil partners will rise to £1,050.

ISAs:

  • Stocks and cash ISAs will be merged to create one New ISA 
  • A tax-free limit of £15,000 a year will come into effect from 1 July 2014 
  • The Junior ISA allowance will increase to £4,000 a year.

Pensioner Bond:

  • A new Pensioner Bond will be issued by National Savings and Investment from January 2015
  • Exact rates will be set in the autumn but are thought to be 2.8 per cent for a one year bond and four per cent on a three year bond.

Premium Bonds:

  • The cap will be lifted from £30,000 to £40,000 in June 2014 
  • It will increase to £50,000 next year 
  • The number of million pound winners will be doubled.

Defined contribution pensions:

  • Income requirement for flexible drawdown will be cut from £20,000 to £12,000
  • The capped drawdown limit will increase from 120 per cent to 150 per cent
  • The lump sum small pot will increase to £10,000
  • The total pension savings you can take as a lump sum will increase to £30,000 from 27 March 2014.

Pensions:

  • a guarantee of free, face-to-face impartial advice for retirees with defined contribution pensions
  • tax on pension amounts taken as a lump sum, over and above the 25 per cent tax-free, will be charged at normal marginal rates rather than at 55 per cent.

Investment:

  • Seed Enterprise Investment Scheme: the SEIS, designed to encourage equity investment in small, early-stage companies, is made permanent
  • Social investment: a new 30 per cent Social Investment Tax Relief on investment in social enterprises is introduced.

24.01.14

2014 A New Year....A new Start?

2014 is expected to be a year of growth in the UK with many economists predicting double digit growth. A lot of the country’s recovery has been attributed to SME's and more people choosing to go self-employed. Whatever your options CMA are here to help with all areas of accountancy, book-keeping and taxation covered.

Our team are always on hand to speak to for invaluable advice and support in whatever path you choose to take.

Wishing all clients new and old a prosperous and successful 2014.

CMA Accountancy

20.03.13

2013 BUDGET KEY POINTS - CLICK HERE

Help for business

The only real changes that the Chancellor announced for OMB businesses are:

  • Corporation Tax to be cut by 1% to 20% in 2015.
  • Employment allowance will cut employers NI bills by £2,000.
  • Increase in tax free loans to employees.
  • Cancellation of the planned fuel duty increase.

However, overall there seems to be very little help for most UK OMB’s in this years Budget.

The Chancellor has offered some help to the construction industry by introducing his ‘Help to Buy’ Scheme which will provide £3.5bn for interest free loans to people buying new build homes. In addition, he also announced provision of £130bn of Government Guaranteed Mortgages targeted at people who can afford the mortgage but are unable to fund a full deposit.

Whether the Government ‘standing in the shoes’ of lenders to make loans that lenders have considered too risky is a good idea, remains to be seen.

Employees

The personal allowance is going to be increased to £10,000 with effect from April 2014.

An increase to £9,440 for 2013/14 had already been announced. However, in order to make sure that higher rate taxpayers do not benefit, the income level at which 40% tax is paid will be reduced by £1,000 to £41,450.

Anti avoidance measures

There are proposed anti avoidance measures for loans to directors and shareholders from their companies. Detailed provisions are not available yet.

Higher rate tax

Despite the Chancellor maintaining that lowering the tax rate for the wealthy leads to the wealthy paying more tax, he did not announce any further reduction in respect of the top rate of tax. I am sure that this will disappoint many business owners.

Given that the Chancellor did not have much room to manoeuvre; do you think there was anything more he could have done?

20.12.12

News Update - Click Here

We hope you like the new CMA website. We will have lots more articles and news updates coming in 2013.

Wishing everyone a Merry Christmas and Happy New Year.

25.09.12

Welcome to the new CMA website

This is CMA Accountancy's new website. To stay up to date, please consider following us on Twitter or liking our Facebook page.

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Contact

Primary 07721 343 557
Secondary 01924 892 195
Email info@cma-accountancy.co.uk