We are a modern forward thinking accountancy practice.

We adopt the latest technologies and business practices ensuring greater efficiency and effectiveness.

Our high quality service is the result of our commitment to excellence. Above all, we never lose sight of the premise that our prosperity is directly linked to yours.

Our team provide friendly, courteous and outstanding service. Our firm is dedicated to ensure personal and business clients minimise their tax payments, both now and in the future. We have many clients in the local community and service businesses, small and large, across many sectors.

Read more about our services, learn more about us to help you make an informed decision before you contact us.


Friday Tax Tips A new tip every week!

Thumbnail image

Great tips, news and advice relating to the world of tax.

Learn more

Resources Tools at your fingertips

Thumbnail image

Access to really useful resources including: calculators, tax rates and allowances.

Learn more

Get in touch free initial consultation

Thumbnail image

Contact our team today to arrange a free initial consultation.

Learn more

Our recent Google reviews

The current hot topic

GDPR what it means for you

On 25 May 2018, the new General Data Protection Regulation (GDPR) will come into force. Information Commissioner’s Office (ICO) guidance confirms that a lack of knowledge will not be deemed an acceptable excuse for not complying with the the new law.

The GDPR replaces the existing Data Protection Act (DPA) 1998, and governs how individuals’ personal data is managed. It applies to all businesses in the EU. Even though the UK will be leaving the EU, it will not affect the commencement of the GDPR, which is set to be placed into UK law post-Brexit.

The GDPR is needed due to developments in internet and cloud technologies. There are now many ways to collect and store personal data. New measures are therefore required to ensure personal data is kept safe, and is only kept for legitimate purposes. All businesses, small and large will be required to comply with the GDPR.

The key principles of the GDPR

There are several key areas that you need to be aware of based on the fundamental principles of the GDPR.

The GDPR places a strong emphasis on accountability and transparency, and holds businesses accountable for safeguarding the collection, usage and storage of a client’s personal data. If you use third party software such as payroll and accounts packages, you will need to ensure these systems are GDPR compliant.

Businesses already compliant with the DPA will need to supply evidence of their compliance with the new GDPR. Businesses are required to identify a lawful basis for processing clients’ personal data: this must be processed fairly and accurately, and be kept in a form which permits the identification of data subjects for no longer than is necessary.

You will need to ensure that your members of staff are aware of the new GDPR rules, and that you provide them with thorough training ahead of the 25 May introduction date.

Ensure you have adequate procedures to prevent data breaches

Finally, businesses are advised to make sure that they have detailed procedures in place to detect, report and investigate a personal data breach. Certain data breaches will need to be reported to the ICO.

Penalties for non-compliance

Failing to prevent a data breach can result in fines of up to 4% of total annual worldwide revenue, or up to €20 million, whichever is the greater.

Further guidance in relation to complying with the GDPR requirements can be found on the ICO website.

Kashflow Certified Advisors Xero Certified Advisors INTUIT Quickbooks Certified Advisors

Home | Credit | Contact us | Site map | Accessibility | Disclaimer | Help | powered by totalSOLUTION

Holmes Accountancy Limited, 22 Walker Avenue, Stratford Office Village, Wolverton Mill East, Milton Keynes, Buckinghamshire MK12 5TW
© 2018 Holmes Accountancy Limited. All rights reserved. We use cookies on this website, you can find more information about cookies here.