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Tax Advice

When a car is not a car (for VAT purposes)

24th June 2019 | Written by In Accountancy | Categories : Limited Companies, News, Tax Advice
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When a car is not a car (for VAT purposes)

For VAT purposes, it’s important to know the difference between cars and other vehicles. This is because in most cases, VAT-registered businesses can’t reclaim the VAT when they buy a car. But they may be able to reclaim the VAT
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Cycle to work scheme – updated June 2019 to include E-Bikes

19th June 2019 | Written by In Accountancy | Categories : Client News, Limited Companies, News, Personal Tax, Tax Advice
Tagged in: tax saving,
Cycle to work scheme – updated June 2019 to include E-Bikes

As cycling continues to grow in popularity with e-bikes leading the way in getting more and more people using pedal power, the government has at last lifted its cap on the value of bikes and associated safety equipment which can
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VAT Fuel Scale Charges

10th June 2019 | Written by In Accountancy | Categories : Limited Companies, Tax Advice
VAT Fuel Scale Charges

HMRC has issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2019. VAT registered businesses use the fuel scale charges to account
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Consultation on Extension of IR35 Rules

3rd June 2019 | Written by In Accountancy | Categories : Contractors, Tax Advice
Consultation on Extension of IR35 Rules

HMRC has published guidance on the extension of the off-payroll working rules (also known as IR35) to the private sector, a year ahead of its implementation on 6 April 2020. In the guidance, HMRC state that the responsibility to determine
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Cashflow – How to speed up your Cash Conversion Cycle

20th May 2019 | Written by In Accountancy | Categories : Client News, Limited Companies, News, Tax Advice
Tagged in: Budget, sole trader, targets, Tax,
Cashflow – How to speed up your Cash Conversion Cycle

In the next in our series of articles on how to improve your cashflow we take a look at the cash conversion cycle and actions you might be able to take to shorten it. I think it’s safe to say
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Congratulating Kathryn!

16th May 2019 | Written by In Accountancy | Categories : News, Tax Advice, Team News
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Congratulating Kathryn!

Big shout out to Kathryn who was invited to attend a ceremony in the Houses of Parliament last week in celebration of achieving her ATT (Association of Accounting Technicians) qualification. Kathryn has an incredible work ethic, having studied continuously since
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Cashflow – Mind Your Margins to Increase your Cashflow

14th May 2019 | Written by In Accountancy | Categories : Client News, Limited Companies, News, Tax Advice
Tagged in: Budget, sole trader, targets, Tax,
Cashflow – Mind Your Margins to Increase your Cashflow

In the next in our series of articles on how to improve your cashflow we take a look at margins, and how simply understanding them better, and focusing on them more regularly will have a knock on effect on improving
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HMRC Wins Disguised Remuneration Avoidance Case

2nd May 2019 | Written by In Accountancy | Categories : Tax Advice
HMRC Wins Disguised Remuneration Avoidance Case

HMRC has won a legal case over a contractor loan scheme endorsed by Hyrax Resourcing Ltd. As a result, HMRC will now be able to collect more than £40 million in unpaid taxes. The scheme in question was a disguised
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Call for Tax on Social Media Businesses

30th April 2019 | Written by In Accountancy | Categories : Tax Advice
Call for Tax on Social Media Businesses

A group of MPs has called on the government to tax the profits of social media businesses. The All Party Parliamentary Group (APPG) on Social Media and Young People’s Mental Health and Wellbeing recently published a report which outlined the
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Pension rules impact successful small business owners

29th April 2019 | Written by In Accountancy | Categories : Pensions and Payroll, Personal Tax, Tax Advice
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
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Reporting Benefits in Kind – Forms P11D

23rd April 2019 | Written by In Accountancy | Categories : Client News, Personal Tax, Tax Advice
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
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Changes to Income Tax for 2019/20

20th April 2019 | Written by In Accountancy | Categories : Client News, Personal Tax, Tax Advice
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
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