We now live in a world where there is no escaping conversations about data and systems. As government and legislative obligations increase for business owners, accountancy software developers are continuously …
The Government’s Independent Tax Advisor recommends a reduction in seven-year gifting rule
The Chancellor requested a review of inheritance tax, which resulted in recommendations for its simplification. The report by the Office of Tax Simplification (OTS) resulted in 11 recommendations, including: Reduce …
New British Chamber of Commerce Research suggests UK tax system is ‘fundamentally unfair’
A new research report by the British Chambers of Commerce (BCC) has found that UK businesses feel that the UK tax system is ‘fundamentally unfair’ and that firms want more …
Client due a £10,000 VAT refund after inspector writes his report easily due to how ‘well the records were kept’
View PostMaking Tax Digital Takes 7 Days – Are You Ready?
With only days until Making Tax Digital for VAT (MTD for VAT) comes into effect on 1 April, HMRC has issued a notice to UK businesses that they need to allow …
Spring Statement Summary – what you need to know
From Making Tax Digital and changes to entrepreneurs relief to considering capital allowances. We have a handy summary of everything you need to know about the Spring Statement. Amid economic …
Reviewing the changes to capital allowances
In Autumn Budget in 2018, Chancellor Philip Hammond announced changes to capital allowances, including a new one called, the Structures and Buildings Allowance (SBA). Here’s what we know about these …
Team strengthened to provide cost-effective solutions as small businesses see cost hike
According to the latest research, small businesses in the UK are spending 15% more than in 2011 on tax and costs relating to employment. Compliance with government initiatives costs small …
Government shortens the payment window for Capital Gains Tax on residential property
The new 30-day reporting and payment deadline has been confirmed from 6 April 2020. This new deadline is applicable when second homes or rental property is sold. Currently, Capital Gains …
Are you doing your own tax returns? Client claimed back £1200 in loss relief
Many of our clients come to us after a period of doing their own tax returns. In every business there will be opportunities to save money by doing some of …
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