Lewis & Co Accountants & Tax Advisors

BUSINESS START-UP ADVICE: There are many different reasons for setting up your own business, whether it is because you have a great proposition, have identified a gap in the market or want a different work-life balance. However, no matter how great your business idea is, you may not have the legal and financial expertise required.

Lewis & Co can help you plug these gaps so you don’t need to be an expert in these fields. Our highly trained team will help and guide you every step of the way.

https://www.lewisandco.biz/services/services-for-businesses/business-start-up/

INTERNATIONAL ACCOUNTING DAY: Happy International Accounting Day! This special day is traditionally held on 10 November each year to honour the work of the Italian mathematician, Luca Pacioli, who is often referred to as the ‘father of accounting and bookkeeping’.

On this date in 1494, he published a book in Venice called ‘Summa de arithmetica, geometria, proportioni et proportionalita’ (Summary of arithmetic, geometry, proportions and proportionality).

In it, he described the bookkeeping method used by Venetian merchants, which was known as double-entry bookkeeping. Although this existed before his book, Pacioli is credited with being the first person to codify the system, which in many ways revolutionised the practice of accounting.

Here at Lewis & Co, we’re very proud to be accountants!

OUR HIGH POINTS: Barney Lewis, who founded Lewis & Co nearly 40 years ago, and retired from the business in March 2016, has published a book that focuses on his long interest in climbing. Even after qualifying as a Chartered Accountant in 1971, Barney took a couple of years out, which he spent rock climbing in the Alps and training as an outward-bound instructor in the Lake District.

The book ‘Our High Points’, brings together 60 years of memoirs of Sandstone Climbing Club. As Barney says in the foreword:

“The aim of the book is to capture the memories of the Sandstone Climbing Club members from the inception of the club in 1951 to its merger with the Tunbridge Wells Mountaineering Club in 2012.

It is hoped that through the memories, opinions and experiences, an understanding might be gained of the climbers’ motivations and the pleasure they derived through climbing and the camaraderie’.”

In the section that captures his memories, Barney explains that he first learnt to climb on an Austrian Alpine Club mountaineering course in October 1967 in Snowdonia. He tells of some memorable climbs and the danger some of these involved, but what shines through of these ‘adventures at home and abroad’ are of the ‘all the fun and the everlasting friendships’.

If you’d like to find out more about the book, you can email Barney on: [email protected]

TALK MONEY WEEK: This is 'Talk Money Week' 2024. We know that whether you're an individual or a business owner, everyone has questions about money. Perhaps you're trying to make sense of your tax return or you're confused about VAT?

Here at Lewis & Co, we're here to answer those queries and are looking forward to hearing from you. Do get in touch on tel: 01892 513515 or message us.

GOOD LUCK to Tonbridge Angels FC as they play Harborough Town at home in the FA Cup! We are so proud to be one of the Club's sponsors and are hoping this run in the FA Cup stretches on for a while!

⚽️ | 𝗙𝗔 𝗖𝗨𝗣 𝗔𝗖𝗧𝗜𝗢𝗡 - 𝗢𝗡𝗘 𝗗𝗔𝗬 𝗧𝗢 𝗚𝗢!

😇🆚 Harborough Town Football Club
🗓️ Saturday, 2nd November 2024
⏰ Kick Off 15.00
📍 Darenth Avenue, Tonbridge TN10 3JF
🏆 FA Cup First Round
🎟️ ALL TICKET
🎟️ Adults £17 Concessions £14 Youths £7 U12 Free with accompanying adult
🎟️ https://www.tonbridgeangels.co.uk/buy-tickets
#️⃣

AUTUMN BUDGET: There was a huge amount to digest in yesterday's Budget. Following much speculation, there were no changes to the tax-free lump sum from pension funds, no extension of the freeze on income tax bands beyond the already distant horizon of April 2028. But there were immediate rises in the rates of Capital Gains Tax, confirmation of the VAT charge on private school fees, and abolition of most of the tax advantages of being a ‘non-dom’.

The biggest tax increase by far was a substantial increase in Employers’ National Insurance Contributions, which prompted a furious debate about whether this was, in fact, a ‘tax on working people’, contrary to Labour’s manifesto pledges.

Find out more about changes announced in the Budget in our report (and, of course, get in touch with us on 01892 513515 if you've got any further questions): https://www.lewisandco.biz/reports/

HAPPY HALLOWEEN: Gary visited the pumpkin patch in Groombridge last weekend to find the perfect pumpkin and we're now Halloween-ready!

CHECKLIST DAY: Today is National Checklist Day, which sounds like an ideal opportunity to make a list of what you need to do to get your accounts in order.

Why not think about pulling together the information you need for your self-assessment tax return and perhaps submit it earlier than normal to receive any rebates quicker?

As accountants, the earlier clients send us the information needed to help them with their tax return, the easier it is for everyone, particularly if there are questions which need answering and blanks which need filling in.

If you’ve got any questions or need any help, please call our team on: 01892 513515 or email: [email protected]

HALLOWEEN: It's looking very spooky and autumnal in Southborough!



Pets Fayre The Earl Grey Tea Rooms

WE ARE YOUR PERFECT ACCOUNTANCY CANDIDATE: Here at Lewis & Co, we know HR consultants are having a busy time at the moment as, on Thursday 10 October, the Government unveiled details of the new Employment Rights Bill. The Government described it as ‘the biggest upgrade to rights at work for a generation’. It covers areas such as unfair dismissal, zero-hours contracts, flexible working, sick pay, unpaid parental leave and bereavement leave, fire and rehire.

If you’re an HR consultant or recruitment consultant trying to absorb all the changes and don’t have time to think about your own tax, then we’re here for you. We currently work with other consultants, so have an understanding of your business.

Discover more here: https://www.lewisandco.biz/we-are-your-perfect-accountancy-candidate/

JUST ONE WEEK AWAY: We are just one week away from the new Chancellor of the Exchequer, Rachel Reeves, delivering the Autumn Budget.

While there have been some hints on what the first Budget of this Labour administration might include, there are likely to be some surprises.

As ever, we will be watching and ready to explain to you what any announcements will mean to you in both your personal and business life.

LEAVE A REVIEW DAY: Today is 'Leave A Review Day' and the perfect opportunity to thank everyone who takes the time to leave us a review or testimonial. Here's just one of them:

"Lewis & Co have been our accountants for a number of years now and have had a major impact in our business being as successful as it is today. They are efficient and approachable, and represent excellent value for money."

BOOKKEEPING: As a business owner, keeping on top of your finances is essential. It not just helps you to manage and control your finances, but it is a legal requirement for both tax and VAT purposes.

At Lewis & Co we can take care of all your bookkeeping requirements, maintain your VAT records and prepare your management accounts. With our expertise in bookkeeping and bookkeeping packages, such as Sage and Quickbooks amongst others, we can help you maintain control of your finances, helping you to concentrate on other aspects of your business.

Our bookkeeping services can be carried out either from our offices in Tunbridge Wells or at your premises if it is more convenient.

Find out more here: https://www.lewisandco.biz/services/services-for-businesses/bookkeeping/

WHEN YOUR 'SIDE HUSTLE' BECOMES MORE THAN SIMPLY A HOBBY: Not so long ago, most of us would have one main job, and occasionally a second evening or weekend part-time role. Today it’s not unusual to have a small business running alongside our career – often referred to as a ‘side hustle’!

In fact, a number of the well-known businesses we are familiar with today started as ‘side hustles’, including Etsy (the online shop where the fruits of many ‘side hustles’ are sold), Yankee Candle, Apple, Groupon, Under Armour, and even Facebook, Instagram and Twitter.

The truth is that while most ‘side hustles’ won’t grow to rival Apple, they could expand to the point where you need to notify HMRC about your activities. While you might think that you are keeping your ‘side hustle’ on the down-low, it’s important to note that HMRC has eyes everywhere! If you are advertising through a social media channel or you’ve got an online store, then you are being fairly public about your activities.

If you think that the threshold has been – or is about to be triggered – and you’re unsure what to do, then do get in touch with us at Lewis & Co. We can help you decide if your ‘side hustle’ is indeed a fully-fledged business and support you in your journey as an entrepreneur.

Find out more here: https://www.lewisandco.biz/when-your-side-hustle-becomes.../

When your ‘side hustle’ becomes more than simply a hobby - Lewis and Co | Accountants & Tax Advisers Not so long ago, most of us would have one main job, and occasionally a second evening or weekend part-time role. Today it’s not unusual to have a small business running alongside our career – often referred to as a ‘side hustle’! It seems that lockdown was the catalyst for many of these mos...

PAYROLL SERVICES: If you have employees in your business, whether a small number or large, your payroll process is vital, but something that can be complicated and time consuming.

At Lewis & Co we can streamline your payroll process and help minimise your PAYE liability. We have dedicated staff who can administer PAYE, employee and employer National Insurance (NI) Contributions, statutory sick pay, maternity pay, childcare vouchers and student loan deductions on your behalf.

Find out more here: https://www.lewisandco.biz/services/services-for-businesses/payroll/

OWN BUSINESS DAY: Today we are celebrating Own Business Day. If you’re thinking about setting up on your own, then we provide a raft of services for businesses including accountancy, bookkeeping, business planning, payroll, company tax and company secretarial services.

If you’re not sure of the first steps to take, then why not access our business start-up service. We will help you decide on the most suitable structure for your business, be it sole trader, partnership, or limited company. We will prepare a business plan, cashflow projections, budgets and trading forecasts, assess your financial requirements and find the best sources of finance available to you.

Get in touch today: 01892 513515.

RETIREMENT PLANNING: It is never too early to start planning for your retirement. Knowing when you are looking to retire and how much you need to save are key in order to live the way you want to live later in life. We can help you calculate what you need to be putting aside and the best means to do so according to your circumstances.

Lewis & Co assists many clients in planning for retirement and with their business exit strategies. We will find ways to provide you with a continued stream of income, using the most tax efficient methods, considering the income you need to maintain a comfortable lifestyle based on your individual needs. We constantly strive to maximise your wealth whilst minimising your tax liabilities.

For more information about our retirement planning services, call us on 01892 515515 or visit: https://www.lewisandco.biz/services/services-for-individuals/retirement-planning/

OH OH OH SUBBUTEO: Fresh from sponsoring a table at the Eland Cables FISTF World Cup recently, we've discovered even more about the popular table football game Subbuteo at an exhibition at The Amelia Scott in Tunbridge Wells. It's on until 5 January 2025 and a fascinating insight into the game which was created in Tunbridge Wells.