Short term effects Those who were longing for the Making Tax Digital and Digital Tax Accounts consultation will need to wait as there are now urgent and more important matters in hand. In the case of any emergency budget, there could be an increase in income tax and national insurance. Long term effects The separation […]
So, how this year’s autumn statement would affect you. Here are some important announcements from the autumn statement that was presented this week. Tier system introduced for stamp duty. Under the old stamp duty rules, you would need to pay stamp duty Tax at a single rate on the entire property price. However, under the […]
In latest developments, tax heads of larger accountancy firms have defended themselves against claims they are behind avoidance schemes that damage the UK’s economy. The Public Accounts Committee accused them of making not exposing corporate income for tax in UK
The overwhelming message coming from the business community is that accountants now and in the future need to be strategic business partners. If they are to add value to business and develop a successful career, they need to share insight and guide strategic decision-making, rather than simply analyse and report on data.
For savers, the annual ISA contribution limit will rise modestly from the current level of £11,280 to £11,520 from April 2013, a rise of 2.1%.. But previously it was said that this would be increased in line with inflation. What about pensions? The basic state pension will rise by 2.5% next year to £110.15 a […]
If your company is looking at ways of investing spare cash then investment opportunities relating to woodlands is worth considering. The reruns from these investments are sizeable and also come with tax incentives. If you search for details it’s not difficult to find reports of investments in woodlands producing annual returns in double figures. Usually […]
Now it is a practice of HMRC to visit businesses to check the authenticity of their records. But earlier this year, they were put on hold. However, they are going to restart this process. The government has made has made their intentions clear to check on the records of businesses as part of its war […]
Though is seems like a laborious process, bookkeeping has some major benefits for any business. Generally speaking, bookkeeping has two basic goals: To keep track of your income and expenses; This enables you to make significant decisions to make profits To collect the necessary financial information about your business to file your various tax returns. […]
When you look for an accountant, what are the things that you look for most? Many business owners will look whether the particular accountant has the capability to handle the tasks that he / she wants them to do. Apart from the capability of the accountant to deal with final accounts, VAT, bookkeeping, personal tax […]
Since January 2011 businesses can reclaim VAT paid on certain Royal Mail services. But under certain circumstances this right may be extended to earlier years.