Most of the businesses feel that the government must work in partnership with businesses to prioritise stability as Britain starts Brexit talks as per the Confederation of British Industry. “By supporting businesses to invest, the government can promote growth at a critical time for the UK economy as we enter into EU exit negotiations,” says […]
The Second Incomes Campaign is a chance given by HMRC to bring your tax affairs up to date if you’re employed and have additional income that’s not taxed. You can take this opportunity if, you’re an employee, you’re resident in the UK or you have additional income from working for yourself What counts […]
Three major tax related functions of HMRC are about to get a new digital makeover. Reports suggest that these new digital services are progressing through user testing in preparation for potential release to the public in the next year. The newly designed business tax dashboard, now known as Your Tax Account (YTA), PAYE for employees […]
Most of the UK’s larger businesses have made a significant contribution to the public purse despite adverse economic conditions and public outcry over multinationals using complex tax structures to avoid paying tax. Global companies including Amazon, Google and Starbucks have attracted public ire over their corporation tax bills, but a study by PwC has found […]
When you take the South West London region, it is well popular for being a vibrant business hub. There are many commercially active town centres in the South West London area with many small businesses. Some of them have been active town centres for numerous years namely Hammersmith, Wimbledon, Ealing and Richmond. But, over the […]
There had been many changes recently to the rules affecting income tax and VAT where you pay for fuel. This is mainly related to fuel used by your employees for private journeys. What are these changes and how might they affect your business? If it is a practice of your business to provide directors or […]
Over recent years, there have been a few Answers to certain disclosures within the financial statements such as when ‘exceptional items’ are encountered and there is uncertainty as to how to disclose these. The standard, which controls the way by which the financial performance is reported, is that of FRS 3 Reporting Financial Performance. The […]
In family run businesses, if the main shareholder is retiring but wants to keep his/ her stake to ensure he/she still maintains control, how can this situation be handles without being investigated by HMRC for inheritance tax?
Importance of maintaining systematic accounting records The aspect of accounting and preparation of financial statements is something that gets less attention in small businesses. The reason may be due to the fact that owners of the small and medium scale businesses are always pressurized on other matters such as cash flow of the business or […]