Business Archives | Page 2 of 9 | IN-Accountancy
Inaccountancy Stockport
0161 456 9666

Business

Pension rules impact successful small business owners

29th April 2019 | Written by In Accountancy | Categories : Business, HMRC, Pensions and Payroll, Personal Tax, Tax
Pension rules impact successful small business owners

  There has been a great deal in the news recently about pensions, and specifically about how changes to pensions rules are impacting on certain individuals’ ability to save for their retirement. Doctors and other high income employees who have final salary pension schemes and who therefore aren’t in control of the amount being contributed into their pensions have made Read the full article…


Update on Structures and Buildings Allowance

29th April 2019 | Written by In Accountancy | Categories : Budget, Business, Client Focus, HMRC, News
Update on Structures and Buildings Allowance

Chancellor Philip Hammond delivered the Spring Statement on Wednesday 13 March 2019 amidst all the Brexit debates. In his speech the Chancellor provided an update on the economy and responded to the Office for Budget Responsibility forecasts. In addition he launched consultations on various aspects of the tax system together with updates on earlier consultations. One area subject to consultation Read the full article…


Delay to Rise in Probate Fees

26th April 2019 | Written by In Accountancy | Categories : Brexit, Budget, Business, Client Focus, HMRC
Delay to Rise in Probate Fees

The government has delayed its planned increase in probate fees indefinitely. The delay has been attributed to ‘pressure on Parliamentary time‘ caused by Brexit debates and votes. The increase in fees had been set to take effect from 1 April 2019, but HMRC recently made the decision to postpone the rise. Under government plans, the proposed probate fees are as follows: Read the full article…


Reporting Benefits in Kind – Forms P11D

23rd April 2019 | Written by In Accountancy | Categories : Accounts, Business, Client Focus, HMRC, Personal Tax, Tax
Reporting Benefits in Kind – Forms P11D

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information can take some time, so it is important that this process is not left to the last minute. Employees pay Read the full article…


Changes to Income Tax for 2019/20

20th April 2019 | Written by In Accountancy | Categories : Budget, Business, Client Focus, HMRC, Personal Tax, Tax
Changes to Income Tax for 2019/20

The new tax year brings changes to income tax bands and allowances. The personal allowance is £11,850 for 2018/19 and increases to £12,500 for 2019/20. There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000. The reduction is £1 for every £2 of income above £100,000. So for 2018/19 there is no personal allowance Read the full article…


Additional Brexit Advisory Documents for Small Businesses

17th April 2019 | Written by In Accountancy | Categories : Brexit, Business, Client Focus, HMRC, Limited Companies, News
Additional Brexit Advisory Documents for Small Businesses

The government has published additional documents containing advice on Brexit for UK small businesses. According to the government, the information will help business owners to ‘understand how leaving the EU may affect their business’. The advisory documents cover a range of issues, from changes to UK-EU trade following Brexit, to alterations to how businesses send and receive personal data. Amidst Read the full article…


MTD for VAT

15th April 2019 | Written by In Accountancy | Categories : Business, Client Focus, HMRC, HMRC, Limited Companies, Making Tax Digital, Making Tax Digital, Tax, VAT
MTD for VAT

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the new rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD functional compatible software. The new rules Read the full article…


Households With Landlines Should Be Vigilant

1st April 2019 | Written by In Accountancy | Categories : Business, Client Focus, HMRC, HMRC, Miscellaneous, Personal Tax, Uncategorized
Households With Landlines Should Be Vigilant

Over recent years HMRC has increasingly cracked down on email and SMS phishing,  and a number of criminals are turning to cold-calling publicly available phone numbers to steal money from taxpayers. These calls are often made to landline numbers. According to Ofcom, nearly 26 million homes have a landline, many of which could be at risk from scams, especially if Read the full article…


HMRC Advice – Prepare For No Deal

28th March 2019 | Written by In Accountancy | Categories : Brexit, Business, Client Focus, HMRC, HMRC, Limited Companies
HMRC Advice – Prepare For No Deal

HMRC is urging business owners to make sure they are ready for a potential no deal Brexit. Business owners are being urged to prepare now and take steps to ensure their businesses can continue to trade with the EU if the UK leaves the EU without a deal. HMRC advise: Businesses should register for an Economic Operator and Registration Identification Read the full article…


Advisory Fuel Rates for Company Cars

27th March 2019 | Written by In Accountancy | Categories : Business, Client Focus, HMRC, HMRC, Miscellaneous, News
Advisory Fuel Rates for Company Cars

New company car advisory fuel rates have been published which take effect from 1 March 2019. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or after 1 March 2019 Read the full article…