Nicholsons Chartered Accountants are an accountancy, consultancy, marketing and financial services provider based in Lincolnshire
Nicholsons Chartered Accountants and Financial Advisors – Lincoln
Working with Nicholsons is not like working with other accountants. In addition to ensuring your numbers add up and your tax liability is minimised we work with business owners, helping them to achieve their goals and aspirations. Like a member of your team we add expertise, experience and knowledge in small bite sized pieces and promise never to use terms like "add value" which don't really mean anything!
To learn more about our team, credentials and what our clients think about how we measure up please take a tour of our site perhaps starting on our services page.
Whilst you are here you can also catch up with the latest tax news, read our partners views on business and finance by visiting their blogs and update your general business knowledge through our "I would like more information on" fact sheets.
Small Business Software
Would you like to use an online software application that makes keeping track of your finances as easy as 1-2-3? Nicholsons have teamed up with XERO software to offer clients an unrivaled small business service. To learn more contact Richard Hallsworth
Latest News From Nicholsons
Where giving to charity is a win-win situation
Lincolnshire chartered accountants Nicholsons are advising tax payers to take advantage of the government’s Gift Aid system, where donors are invited to tick a box confirming that they are a UK taxpayer, allowing the charity to claim back a 25p tax credit for every £1 donated.
Partner Emma Murray said: “This has provided a welcome boost for many good causes, but there is an additional benefit for higher-rate taxpayers, who can claim higher-rate tax relief (currently 40% minus the basic rate of 20%) on their gifts by entering any donations made over the course of the tax year in the ‘gift aid’ box on their self-assessment tax return.
“Therefore anyone who is set to be caught by the new 50% tax rate, or the withdrawal of personal allowances from April next year could benefit from holding back any donations, where possible, until the tax can be reclaimed at the increased rate. An additional benefit comes from charities which offer products with Gift Aid in mind, such as the National Trust’s gift aid membership scheme – the tax rebate allowed on a family membership at £105 would certainly be worthwhile for anyone who makes regular visits to the organisation’s properties”.
The tax relief does not just apply to cash donations, and can also be claimed on physical gifts, such as donations of unwanted items such as clothes, DVDs or CDs to a charity shop. If the shop records the gifts in the taxpayer’s name, the charity can claim the extra 25% and the donor, if a higher-rate taxpayer, can claim tax relief on the value of the gift, in the same way that they would with a cash donation.
For more information please contact Nicholsons on 0845 2766555 or email Emma Murray