Legal Services and Barristers Winters Chartered Accountants London UK

Winters Chartered Accountants and Registered Auditors
29 Ludgate Hill
London EC4M 7JE
England, UK

Tel:
+44 (0) 20 7919 9100

Fax:
+44 (0) 20 7919 9019

Related links:

Legal Services and Barristers

Notes for Barristers

Winters are an established firm of chartered accountants who enjoy acting widely for the professions, and especially for many members of the Bar. We see our role as safeguarding our clients best interests by dealing directly with H M Customs and Revenue and Department of Social Security and to offer a personal service tailored to suit their particular needs.

Our tax specialists value close working relationships with all of our barrister clients. They recognise that as professionals barristers appreciate the need to have confidence in their advisers. We strongly believe the only way of building this confidence is by face to face meetings - Winters initial exploratory meetings are always complimentary.

Accounts and Income Tax

As a practising member of the Bar your tax is assessed directly on your earnings. As a barrister you are treated as self employed by H M Customs and Revenue. Therefore accounts need to be prepared annually and submitted to your Inspector of Taxes.
Barristers accounts have traditionally been prepared on the basis of fees received less expenditure paid 'the cash basis'. This is still acceptable for barristers of up to seven years call. For more senior barristers preparation of accounts on a cash basis can continue, but annual adjustments to convert the results to a 'true and fair' profit for tax purposes must be made - Winters can help you with this.

Barristers' clerks will usually provide a statement of fees and expenses - normally quarterly to assist with any VAT returns. These statements will form the basis of annual accounts but invariably there will be additions to fees and almost certainly to expenses, details of which must be kept by individual barristers.

The range of tax deductible expenditure is surprisingly extensive. As a client of Winters, Kevin Fisher and Mark Dawes will ensure that you obtain the maximum available tax deductions and advise on how to maintain the necessary records. Tax relief in the form of capital allowances can be claimed on a wide range of business assets including cars, computers, home desk and chairs, wigs and gowns. As Winters clients we will be delighted to deal directly with H M Customs and Revenue on your behalf both in respect of annual accounts and your annual Tax Return which gives details of other income and gains.

As part of our relationship with clients we keep you advised of all future tax liabilities to ensure you do not receive any unexpected tax demands.

Tax Planning

Tax planning plays an integral part of every successful business. There are many aspects of tax planning - having your accounts drawn up to a beneficial date, setting up personal pension plans and perhaps the more exotic Enterprise Investment Schemes.

Whilst not regarded as a tax National Insurance Contributions should not be overlooked. There are amounts to be paid throughout the year including an annual charge.

Lord Tomlin once said 'every man is entitled if he can to order his affairs so that the tax attaching …. Is less than it otherwise would be'.

As a practice Winters has never subscribed to, or supported, any 'artificial' tax avoidance schemes. Our clients can trust that their professional integrity will never be jeopardised by any advice or action which we recommend.

VAT and Other Financial Matters

Fees rendered by barristers, or in practice by a Barristers' Clerk, will invariably need to include VAT. This does not in itself affect net earnings and can be 'recovered' on various expenses. Our clients receive the best advice on registration and other VAT matters, and we liase with H M Customs and Revenue on their behalf and prepare quarterly returns.

Fees
Our fees are based purely upon the amount of time devoted to a client's affairs taking into account the seniority of our staff and the complexity of the work involved. From the outset it will be appreciated that the actions or often the inactions of clients themselves e.g. the standard of records from which we prepare accounts, can have a marked effect on our fees. Our basic philosophy is to give a value for money service and where possible assist clients to reduce our fees by their own actions.