A "call for evidence" One of the few newsworthy items in the Chancellors spring statement was a "call for evidence" about the impact on growth of the VAT threshold. There is, apparently, a bunching of businesses with a turnover just below the VAT registration limit of £85,000, suggesting that businesses close to the limit either [...]
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So far Ian Holmes has created 17 blog entries.
In a time of doubt and faltering confidence in the UK and global economies, Brexit and the possibility of trade barriers and ongoing uncertainty in international relations, it is reassuring to observe our local landscape as politically stable, economically thriving and featuring internationally for all the right reasons. In the UK Smart Cities Index 2017, [...]
The personal company of BBC Look North presenter Christa Ackroyd was landed with a tax bill of over £400,000 recently when HMRC successfully took it to the Tax Tribunal – what does this mean for contractors and those who hire them? Many of you will be familiar with the term IR35 – the name, based [...]
The National Cyber Security Centre (a part of GCHQ) issued this month its first guidance for smaller charities (https://www.ncsc.gov.uk/charity). The guidance includes several tips across five areas. Many of the recommendations aren't new, but the relatively short guidance is a useful refresher given the increasing risks in this area. Most of the tips aren't exclusive [...]
This is the first quarterly column providing useful hits and tips to help you get the most out of Xero. We will also keep you up to date with the latest news and updates with the software. Xero is a cloud-based accounting platform that allows you to have real time access to your business financial [...]
As of 6 April 2017, employers with an annual wage bill of more than £3million must pay the apprenticeship levy towards apprenticeship funding. The levy is charged at 0.5% of the annual wage bill and is reportable to HMRC each month with each employer having an allowance of £15,000 to offset against their levy payment. [...]
Many companies' accounting periods are aligned with calendar year. A few simple planning tips implemented before 31 December 2017 can ensure that these companies can accelerate corporation tax relief and reduce their corporation tax liability due for the current year. Accelerate capital expenditure Each company and its associated companies share an annual investment allowance (AIA) [...]
The Government's proposals to extend its "off payroll workers" rules to the private sector could do harm disproportionate to the extra tax collected The most striking aspect of the Budget was the somewhat depressing news on the state of the economy, and the downgrading of growth predictions. It was actually rather light on major tax [...]
The end of the year is generally a good time to reflect on the passing year but also make plans for the forthcoming one. The starting point for businesses to reflect on performance is often by looking at the financial results but it’s worth thinking about other ways too. A trusted business advisor, customer and [...]
We will post a more detailed summary of the Budget proposals in the coming days, but in the meantime here is a summary of some of the items that catch our eye and may be most relevant to our clients. We also comment on welcome proposals to clamp down on the industrial scale tax avoidance [...]