Personal tax, planning and small business support
Accountant for Ingersoll and South-West Oxford
For more than three decades, a good share of Ingersoll’s paycheques came from the CAMI assembly plant on the edge of town. When GM confirmed in October 2025 that BrightDrop electric van production there would end, about 1,200 workers were left facing layoffs, severance offers, retraining and early retirement decisions, all of them with tax consequences.
A&P Accounting & Tax Experts helps Ingersoll families work through those changes: EI slips and repayment, severance and retiring allowances, RRSP rollovers and tuition credits for a new career. We also keep the books and payroll for the shops and service businesses along Thames Street.
Our downtown London office is about 25 minutes west on Highway 401, and every return is explained to you in plain language before it is filed, whether we meet in person or by phone.
- 5.0 stars on Google
- Downtown London office
- In person or fully online
- Open Saturdays
How we help
Accounting and Tax Services for Ingersoll Clients
A town of about 13,700 people does not need a long menu, it needs the right few services done well. These are the four that Ingersoll households and business owners rely on us for.
Personal Tax Returns for Ingersoll Families
T1 returns that bring together T4, T4E, T4A and pension slips, with credits for tuition, medical costs and caregivers claimed.
Severance and Retirement Tax Planning
Choosing between lump sums and pensions, timing RRSP transfers and deciding when to start CPP and RRIF income.
Payroll for Ingersoll Employers
Pay runs, source deductions, vacation pay under the Employment Standards Act, ROEs and year-end T4 slips.
Bookkeeping for Thames Street Businesses
Monthly bookkeeping and HST-ready reports in QuickBooks Online or Xero, reconciled to your bank and card statements.
Layoffs, severance and new careers
When Work Changes: Tax Help for Ingersoll Workers
CAMI has been idle since spring 2025, and at the time of writing GM has not announced a new product for the plant. For the families affected, the questions are practical: how much of a severance cheque is really theirs, whether EI will be clawed back, and what going back to school will cost after credits.
The answers depend on your numbers, but the rules below apply to almost everyone in that position.
EI Benefits and Repayment
Employment Insurance benefits are taxable income, reported on a T4E slip. If your 2026 net income tops $86,125 and you have received regular benefits in the past ten years, you repay 30% of the benefits or of the income over that line, whichever is less.
Severance can also delay your EI: separation money is allocated against your benefit weeks, so the first EI payment may come later than expected.
Severance, Retiring Allowances and Your RRSP
Tax on a lump sum is withheld at flat rates, then reconciled on your return at your actual marginal rate. Paying part of it straight into your RRSP shelters it from both.
Long-service employees get extra room: up to $2,000 for each year worked before 1996, plus $1,500 for each year before 1989 without a vested pension, can go into an RRSP without using normal contribution room. Our severance and retirement planning for Ingersoll workers runs the numbers on each option before you sign.
| Size of the payment | Federal withholding rate | What it means |
|---|---|---|
| Up to $5,000 | 10% | Usually too little for anyone who also worked part of the year |
| $5,000.01 to $15,000 | 20% | Close for some, short for many |
| Over $15,000 | 30% | Can still fall short if the payment pushes you into a higher bracket |
Retraining and Tuition Credits
Going back to school after a layoff earns tax relief in more than one way. Tuition shown on your T2202 creates a federal credit, and the refundable Canada training credit pays back up to half of eligible fees from a balance that builds by $250 a year, to a lifetime maximum of $5,000.
Many Ingersoll residents retrain at Fanshawe College’s Woodstock/Oxford campus on Finkle Street, about 15 to 20 minutes east. If you are studying full time, the Lifelong Learning Plan also lets you borrow up to $10,000 a year from your RRSP without tax, to a total of $20,000.
Got a severance offer on the table?
Call before you sign. We will show you what each option leaves you after tax.
Small Business Accounting Along Thames Street
Downtown Ingersoll runs on independent businesses: restaurants, salons, trades, retailers and the service firms upstairs. When local paycheques shrink, those owners feel it first, and tight months are exactly when clean books matter most.
We set up or take over your bookkeeping in QuickBooks Online or Xero, reconcile every account monthly and give you a short report you can actually read. Your HST return is then a matter of pulling the numbers, not rebuilding them.
If you have staff, our payroll services for Ingersoll small businesses handle each pay run, the CRA remittance that follows it and the T4 and ROE paperwork when someone leaves.
- HST filed monthly, quarterly or annually, with input tax credits claimed
- Vacation pay of at least 4%, rising to 6% after five years, under the Employment Standards Act
- WSIB reporting where your business is covered
- Year-end packages ready for your T1 or T2 return
- Fixed monthly fees quoted after we review your volume
Communities We Serve Near Ingersoll
Ingersoll calls itself a cheese town for good reason: in 1866 local makers produced a mammoth cheese of more than 7,000 pounds to promote the industry, and the Ingersoll Cheese and Agricultural Museum on Harris Street, just north of the 401, still tells that story. We serve the town and the farms and villages around it.
Ingersoll itself, from the Thames Street core to the residential streets climbing out of the river valley. Beachville, Mount Elgin and Salford in the Township of South-West Oxford, with its dairy and cash-crop farms. Thamesford, just north in Zorra Township, and Putnam, just across the Middlesex County line.
From any of them, our London office is a 25 to 35 minute drive, and the same service is available without leaving home.
Ingersoll, Beachville or Mount Elgin: one number to call
Book a phone review of your return or an appointment at our downtown London office.
Ingersoll Tax FAQs
The plant shutdown has brought a wave of new questions to Ingersoll kitchen tables. These are the ones we answer most often.
How is a severance payment taxed?
Severance is taxed as income in the year you receive it, at your marginal rate. Your employer withholds tax at a flat 10%, 20% or 30% depending on the size of the payment, but that is only a down payment; the real bill is settled on your return.
A large payment on top of a full year of wages often leaves a balance owing in April. Transferring part of it directly to your RRSP, using your available room or the eligible pre-1996 portion, can reduce both the withholding and the final tax.
Do I have to pay back EI at tax time?
Only if your 2026 net income is above $86,125 and you have collected regular EI benefits in the past ten years. In that case you repay 30% of the lesser of your regular benefits or the income above the threshold.
First-time regular claimants are exempt, and so are maternity, parental, sickness and compassionate care benefits. Most people still owe something at tax time for a different reason: the income tax withheld from EI payments is often less than the tax on them.
Can you take over the books for my Ingersoll shop?
Yes. We start by reviewing where your books stand, then move you into QuickBooks Online or Xero if you are not there already, connect your bank feeds and reconcile back to the last clean month.
From then on you get monthly reconciliations, HST-ready reports and a clean set of books at year-end. Our bookkeeping for Ingersoll and Oxford County businesses is quoted at a fixed monthly fee once we see your volume.
I took a job with a new employer after the layoff. Will that cause problems at tax time?
It can. Two employers in one year means two sets of CPP and EI deductions and two employers each applying the basic personal amount, so too little tax is often withheld.
We combine your T4s and T4E, apply for any CPP or EI overpayment refund, and adjust your TD1 for next year so the gap does not repeat.
Book Your Ingersoll Tax Appointment
Whether you are sorting out a T4E, weighing a severance package or handing off your shop’s books, start with a call. We will quote the work, list what to bring and set up a time that suits you, weekdays or Saturday.