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The default basis for landlords’ accounts. Traders have been able to prepare their accounts using the cash basis since April 2013, as long as they meet certain eligibility conditions. This option was extended to landlords running unincorporated property businesses...
One million firms comply with auto-enrolment
Food & Drink firms bring in record £22bn in exports
Taxpayers reclaim £493m from HMRC
One in 15 face fines after missing tax return deadline
It happens more often than it should! You get to the end of your month, quarter or year. Close it off and think you are done -and suddenly up pops a late invoice you have forgotten about. Your supplier forgot to bill you or you found the invoice or receipt in a pile...
What tax powers are moving away from Westminster? It may feel like we’re living in increasingly uncertain times ever since the UK voted to leave the EU. That centred on most of the electorate’s desire to obtain more devolved powers from Brussels, but in reality,...
In our earlier post, we looked at the changes that FRS 105 and FRS 102 will have on our end of year reporting formats. See: New UK GAAP: FRS 102 and FRS 105 Reporting Changes In this article, we will look at the differences in accounting treatment between the old...
New rules are coming into force on 6 April 2018. The tax treatment of termination payments can be complex, not least because a termination package typically comprises several different elements, which may be treated differently for tax and national insurance purposes....
The rules and accounting standards under which limited company accounts are prepared have changed. This article looks at what this means to you and how it could affect your end of year reporting. Before we dive into the detail, let us take a moment to remind ourselves...
Disincorporation relief to end in March 2018
Small businesses face skills gaps
HMRC stops use of personal credit cards to pay tax bills
Number of businesses soars to 5.7m
What to expect when HMRC comes knocking. Anyone whose business comes under the microscope of HMRC is usually in for a roller-coaster ride. HMRC has upped its game in recent years when it comes to probing businesses or sole traders who may be suspected of falsely...
How to include charitable donations in your tax planning strategy. Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on your estate. As...