A paper mill village that grew around the Metropolitan line
Croxley Green is a civil parish in Three Rivers district, with a Rickmansworth postal address and a population of around 12,500 at the 2011 census. Its big open green is said to be the longest village green in England, and the village has its own conservation area. Dickinson Square has another, where the John Dickinson paper company built houses for its workers in the late 1880s. The company's Croxley Mill stood beside the Grand Union Canal from 1830 until it closed in 1980.
What turned the village into a commuter suburb was the railway. Croxley station, on the Watford Road, opened in 1925 and sits on the Metropolitan line in fare zone 7, with trains through Moor Park to Baker Street and Aldgate. Shops line New Road, including the parade opposite Croxley Green Library.
Contractors and consultants on the Metropolitan line
The Metropolitan line gives Croxley Green a direct run into central London. If you take that train as a contractor working through your own limited company, IR35 is likely to be your biggest tax issue. IR35 is the set of rules that decides whether a contractor should be taxed like an employee.
If your client is a medium or large business, it decides your status and must give you a status determination statement. If it says you are inside IR35, the fee payer deducts tax and National Insurance before paying your company. With a small client, your own company makes the decision. As accountants in Croxley Green, we review contracts, look at the way you actually work, and keep the company accounts, payroll and dividends in order either way.
What we help people in Croxley Green with
- IR35 contract reviews for contractors
- Limited company accounts and corporation tax
- Payroll and dividends for directors
- Management accounts for Croxley Park firms
- Cloud bookkeeping for New Road shops
- VAT registration and quarterly returns
- Self assessment for higher earners
- Inheritance tax planning for local families
Accountants in Croxley Green for Croxley Park businesses
Croxley Park, which has a Watford WD18 address, describes itself as a leading M25 business park. It has around 700,000 square feet of offices and business space spread across 13 buildings, along with shared facilities such as The Hive and a gym.
Companies based there, and smaller firms that sublet space, need the standard limited company work done well: accounts filed at Companies House within nine months of the year end, corporation tax paid nine months and one day after it, and a return filed within 12 months. Corporation tax is 19% on profits up to £50,000 and 25% above £250,000, with marginal relief between. We also handle payroll, VAT returns and monthly management figures so directors can see how the business is doing before the year end.
Shops and services on New Road
New Road has parades of small shops with flats above, such as the one facing the library. Running one of those shops usually means a mix of card takings, cash, supplier bills and a few staff. Good bookkeeping, every week rather than once a year, is what keeps it under control.
We set up cloud bookkeeping that links to your bank, so most transactions come through automatically. From there VAT returns, payroll and the year end accounts become much quicker. If you own the parade or a flat above a shop and let it out, we can also prepare your rental accounts.
Family finances in the village
Two tax problems catch out a lot of households here, from the old Dickinson workers' houses to the bigger places near the green. The High Income Child Benefit Charge applies once the higher earner passes £60,000, and higher rate pension relief often has to be claimed through a tax return or it is lost.
Older residents may be thinking about inheritance tax. With a nil rate band of £325,000 per person and a residence nil rate band of up to £175,000 for a home left to children or grandchildren, it pays to plan early, while there is still time for gifts to fall outside the estate.
Working with us from Croxley Green
Our accountants are based in Watford. We do not have an office in Croxley Green, and most people looking for accountants in Croxley Green are happy with that, because the Watford Road links the two, and most clients prefer to work with us online and by email anyway. When a meeting helps, we set one up, either in Watford or somewhere that suits you.
Every engagement begins with a free review. You get a fixed fee in writing before any work starts, and your accountant is ACCA qualified.
Who we work with here
- Contractors commuting from Croxley station
- Directors of companies based at Croxley Park
- Shop and cafe owners on New Road
- Households near the green with higher incomes
- Retired homeowners planning their estate
Common questions
Do you have an office in Croxley Green?
No. Our accountants are based in Watford and work with Croxley Green clients online and by email. Meetings can be arranged when they are needed.
My agency says my contract is inside IR35. What happens to my pay?
The fee payer, usually the agency, deducts income tax and National Insurance before paying your company, as if you were an employee. That income is not taxed again in your company if it is recorded correctly. We check the status statement and set up your books to match.
Which council covers Croxley Green?
Croxley Green is in Three Rivers, so Three Rivers District Council handles business rates and planning, with Hertfordshire County Council providing county services. Croxley Park has a Watford address.
Our company has just taken an office at Croxley Park. What are our first deadlines?
A new company files its first accounts within 21 months of incorporation, and must tell HMRC it is active for corporation tax within three months of starting to trade. If you will pay any staff, including yourself, register as an employer before the first payday.
Do I need an accountant for a small shop on New Road?
You do not have to have one, but most owners find it saves time and mistakes. We keep the books, file VAT returns when needed and prepare your tax return or company accounts each year.
Can I claim back higher rate tax on my pension contributions?
If you pay into a personal pension, the provider adds basic rate relief. Higher rate relief is usually claimed through your self assessment return, and we make sure it is included.
How are your fees worked out?
After a free review, we agree a fixed fee with you in writing. No work starts until you have agreed it.