More than just numbers

Magenta Accounts is a family-owned accountancy business based just outside the historic city of Winchester. We offer a friendly and approachable service in the following areas:

We specialise in working with business owners, providing timely, accurate management reports which can be used to enhance the management’s business decision making.

We also have the ability to liaise with our network of finance providers to obtain funding in the form of overdrafts or loans.

Interested? We also offer a free initial meeting with no obligation. Contact us on the number below to find out more.

Our customers say:

Magenta have handled our payroll and invoicing for three years, and have had an extremely positive impact on Semantic. Between them the team now handle all my personal and professional needs.

Nick Warren - Managing Director, Semantic Limited

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VAT PENALTIES AND INTEREST

There have been some significant changes to VAT penalties and interest if you submit a late VAT Return for an accounting period starting on or after 1 January 2023 and / or if you pay the liability later than the due date. There are separate penalties for late submission and late payment and they can […]

COMPANY CORPORATION TAX RATES

From 1 April 2023, there is no longer a single Corporation Tax rate for non-ring fence profits. At the Budget, the government announced that the Corporation Tax main rate for non-ring fence profits would increase to 25% for profits above £250,000. A small profits rate of 19% was also announced for companies with profits of […]

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Latest News

VAT PENALTIES AND INTEREST

There have been some significant changes to VAT penalties and interest if you submit a late VAT Return for an accounting period starting on or after 1 January 2023 and / or if you pay the liability later than the due date. There are separate penalties for late submission and late payment and they can […]

COMPANY CORPORATION TAX RATES

From 1 April 2023, there is no longer a single Corporation Tax rate for non-ring fence profits. At the Budget, the government announced that the Corporation Tax main rate for non-ring fence profits would increase to 25% for profits above £250,000. A small profits rate of 19% was also announced for companies with profits of […]

BUDGET UPDATE MARCH 2021

Following on from yesterday’s budget, here is a link to our guide to the various announcements. Thankfully, nothing on pensions or CGT yet. Budget guide March 2021 As always, please contact us if you have any questions.

VAT DEFERRAL NEW PAYMENT SCHEME

Businesses that took advantage of the option to defer VAT payments due to Covid last year can join the new scheme to pay it in smaller monthly instalments. All the information you require is here: https://www.gov.uk/government/news/vat-deferral-new-payment-scheme-online-service-opens

DOMESTIC VAT REVERSE CHARGE FOR BUILDING AND CONSTRUCTION

The new domestic reverse charge is finally being introduced from 1 March 2021. This applies to the majority of contractors and subcontractors that are registered for VAT and report under the CIS scheme. Details are here but if you require any further help, please do not hesitate to contact us: https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services#whentouse

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