Cook Trotter Limited

Cook Trotter Limited If you are looking for an accountant in Harrogate then look no further.

Founded in 1966, Cook Trotter Limited is a proud member of The Institute of Chartered Accountants in England and Wales, meaning you can relax in the knowledge you are in safe hands.

All children in the UK have their own personal allowance, currently £12,570. There are special rules if a parent gifts s...
19/06/2024

All children in the UK have their own personal allowance, currently £12,570. There are special rules if a parent gifts significant amounts of money to their children which results in them receiving bank interest of more than £100 (before tax) annually. If this is the case, the parent is liable to pay tax on all the interest if it is above their own Personal Savings Allowance (PSA). These anti-avoidance laws are designed to prevent a child’s personal allowance being used by parents of children aged under 18, with some minimal exceptions.

Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a g...
18/06/2024

Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a general rule, any necessary adjustment can be made on a current VAT return. To do this, the errors must be below the reporting threshold.

It was announced as part of the Spring Budget 2023 that Multiple Dwellings Relief (MDR) was being abolished. This change...
17/06/2024

It was announced as part of the Spring Budget 2023 that Multiple Dwellings Relief (MDR) was being abolished. This change has now come into effect for transactions which complete, or substantially perform on or after 1 June 2024.

If HMRC make no enquiries within the period allowed, or if they have completed an enquiry, the return becomes final unle...
17/06/2024

If HMRC make no enquiries within the period allowed, or if they have completed an enquiry, the return becomes final unless

Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the P...
14/06/2024

Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the Primary Threshold. The annual threshold is £12,570 in the current 2024-25 tax year.

An employer can usually reclaim 92% of employees’ Statutory Maternity, Statutory Paternity, Statutory Adoption, Statutor...
13/06/2024

An employer can usually reclaim 92% of employees’ Statutory Maternity, Statutory Paternity, Statutory Adoption, Statutory Parental Bereavement and Statutory Shared Parental Pay. If the business qualifies for Small Employers’ relief, this figure can increase to 103%.

There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional ...
12/06/2024

There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax.

Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages ...
11/06/2024

Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole trader include independence, ease of set up and running your business, and the fact that all the profits go to you.

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (p...
10/06/2024

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death.

The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be ...
10/06/2024

The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be happy to leave dealing with their 2023-24 tax returns until later this year or even until January 2025.

Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains...
07/06/2024

Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost of the new asset and any CGT liability is deferred until the new asset is sold.

Where an employee with a company car is provided with fuel for their own private use by their employers, the default pos...
06/06/2024

Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The charge is determined by reference to the CO2 rating of the car, applied to the car fuel benefit multiplier, currently £27,800.

Address

3 Sceptre House, Hornbeam Square North
Harrogate
HG28PB

Opening Hours

Monday 8am - 4pm
Thursday 8am - 4pm

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