Jet Accountancy

T: 01366 858538
M: 07806 792211

Jet Accountancy is a small independent accounting firm based in Downham Market, Norfolk and we provide a full accounting and taxation service to small and medium sized businesses throughout Norfolk, Cambridgeshire and Lincolnshire.

  • We aim to provide our clients with a friendly, fast, reliable and professional accounting service at a competitive price.
  • We offer fixed fees agreed with you prior to starting any work so there are no nasty surprises.
  • We utilise all tax benefits and allowances so to minimise tax and save money but more importantly to maximise profits to help our clients grow their business.
  • We provide accountancy services for sole traders, partnerships, limited companies, sub-contractors, charities, non-profit organisations and private individuals.

“I contacted Jet Accountancy as I needed a reliable and professional company to deal with my accounts and tax affairs.  Having quite recently moved to the area, I was delighted to find such an approachable and friendly company in Downham Market.  I had a free consultation with Louise who offered me clear, straightforward advice and gave me total confidence that she would get the job done.  I was greatly impressed with the fast turnaround of work and the level of communication.  I also found their fees to be extremely competitive.

I cannot recommend Jet Accountancy highly enough for businesses looking for ease and efficiency in dealing with their accounts and taxation.

Thank you for all your valued help and advice and I will certainly be using you again in the future”

Sandra Morgan, Owner of Events Reinvented –King’s Lynn.

  • Friendly – Jet Accountancy provide a friendly, supportive and personalised service, offering unlimited help and assistance throughout the year for all financial matters.  Building strong relationships with our clients is key to offering an unrivalled service.  Only by understanding your aims and objectives can we deliver the highest level of individual client care.
  • Flexible – Our flexibility helps to take the stresses and strains out of the accountancy process for clients, freeing up more time for them to focus on their business.  All of our accountancy packages include unlimited help and support from a fully qualified accountant, even during evenings and weekends!  To settle fees we give clients the opportunity to ease their cash flow by offering a 12 month interest free payment plan.
  • Fast – We provide a fast, accurate and reliable service.  Our work will not just be delivered on budget and to a high standard, but on time too.  We promise to prepare your accounts within 30 to 60 working days of receipt, provided that we have all required information.  We operate a free deadline management service, monitoring each client’s particular requirements so that deadlines are not missed and timely reminders are issued to each client.
For a free no obligation consultation.
Contact Us Today

Latest News

National Minimum Wage

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From 1 April 2019 the National Minimum Wage rates increased.  Employees aged 25 or over are legally entitled to £8.21 per hour.  Employees aged 21 to 24 – £7.70 per hour, employees aged 18-20 – £6.15 per hour, under 18 – £4.35 per hour and for apprentices £3.90 per hour.

Do I need to complete a tax return?

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The most common reasons that a tax return may be required are:

  • income from self employment as a sole trader
  • income from a partnership business
  • money from renting out a property
  • income from savings, investments and dividends
  • foreign income
  • selling assets such as shares or second property
  • if your income (or your partner’s) was over £50,000, you may need to send a return and pay the High Income Child Benefit Charge

At Jet Accountancy we can complete your tax return, calculate your tax liability and file the return online.  Contact us for more information.

Is your Company’s Christmas Party Tax Deductible?

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The cost of an annual staff party is allowed as a deduction for tax purposes. However, the cost is only deductible if it relates to employees and their guests, which would include directors in the case of a company, but not sole traders and partners in the case of unincorporated organisations.

As a company director, you are entitled to provide an annual event for yourself, any staff you employ, and your partner, and reclaim the costs against the company, as long as the cost per head does not exceed £150 (including VAT).

The cost per head can include accommodation, transport, and food and drink – but must not exceed the £150 threshold.

You may decide to hold several events throughout the year, but the total claim for all events must not exceed this threshold.

To calculate the cost per head, HMRC states that you should ‘divide the total cost of each function by the total number of people (including non-employees) who attend in order to arrive at the cost per head.

Furthermore, an employer may provide employees with a seasonal gift, such as a turkey, bottle of wine or a box of chocolates at Christmas. All of these gifts are considered to be trivial and as such are not taxable.

One cautionary regarding VAT and staff gifts is that VAT is chargeable by the employer when an employee receives gifts totalling more than £50 in a year.

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