PERSONAL ALLOWANCE AND HIGHER RATE LIMIT INCREASED

The Chancellor reminded us that the government are committed to increasing the personal allowance to £12,500 in 2020 and the higher rate tax threshold to £50,000. However, the personal allowance for 2018/19 was only increased in line with inflation to £11,850 and the higher rate threshold to £46,350.

Note that up to 10% of the personal allowance (£1,185) may be transferred from one spouse or civil partner to the other if unused and the transferee is a basic rate taxpayer. This transfer will now be available on behalf of deceased spouses and civil partners, and the claim may now be backdated for up to four years where the entitlement conditions were met.

Don’t take our word for it - here are some kind words from our clients

I followed Chris when he set up his own firm back in 1990 because I knew I could trust him to look after my business affairs. He has advised me on VAT, corporation and income tax and the best way to structure my various businesses. I have full confidence in him and the rest of the firm.

Mr NS, Developer, Surrey

RS Partnership are just the right sort of accountants for me and my business. I run a small business, about £1.5M turnover so I don’t need their services all of the time and I don’t need to be bombarded with all sorts of stuff the large firms of accountants try to sell me – I just don’t need it. But, whenever I do need their services they always provide a prompt and courteous response and I’m confident with the advice they give. I would recommend them to any small business.

Mr KM. Safety Testing, Hertfordshire

I have no hesitation in recommending RS Partnership as accountants to anybody. I’ve been with the practice for over 15 years and that in itself says enough.

Mr NB, Builder, Bedfordshire

I have only been with Chris and his team for about a year, I finally decided to move away from previous accountants when they failed to reply on numerous occasions to the VAT man on various queries they had on my accounts. Chris and his staff took up the challenge and stood in my corner so that I got the outcome that was right for me. They also do my bookkeeping and accounts and they are very efficient at this and I no longer receive any penalties for late filing of returns.

Miss MO, Transport, Hertfordshire

Chris and his staff at RS Partnership are the most professional firm of accountants I have dealt with during my time in business, which is about 20 years and I’ve had quite a few so called accountants! We had a particular problem with the CIS scheme but Chris found a way around that problem so that I could retain my gross status and keep me in business. If my company had lost this, then I would probably have gone out of business. I have no hesitation in recommending his firm to anybody.

Mr AM, Fire systems, Hertfordshire

I have been with Chris and his firm for over 4 years now, and during this time my business has grown beyond all, particularly my own expectations and this would not have happened without the professional and personal support of Chris and RS Partnership.

Mr GE, Retail Business, Bedfordshire

I get RS Partnership to do my monthly management accounts, payroll, year-end accounts, corporation and personal tax because I know they are looking after my best interests. I also have regular meetings with Chris to review my results and plan for the future. I didn’t get this from my previous accountants, they were just number crunchers. I have full confidence in Chris and his Team at RS Partnership.

Mr MB, Groundworkers, Hertfordshire

I am able to recommend RS Partnership to anybody looking for an accountancy firm. During my time with them I have found their service invaluable in helping me reduce my taxation liabilities.

Mr DR, Publisher, Hertfordshire

I had just one task for RS Partnership, get my tax bill down! I can safely say that he provided me with many more options than my previous advisors had done, so that’s why I retain them for my tax and accounts.

Mr TM, Haulage, Hertfordshire