Tag Archive

A Tax efficient way to Reimburse Expenses incurred on Meals-

Published on April 5, 2013 By admin

If you employ staff who are on the move on a regular basis, you could reimburse them the cost of their meals while they’re out and about. But you have another option, where you could pay them a tax and NI-free allowance in exchange for them taking a little less in pay. This will be […]

Essentials on the New Annual Investment Allowance

Published on March 15, 2013 By admin

The new rules on the annual investment allowance apply differently to different businesses. The Chancellor’s announcement that the AIA, which allows a 100% tax deduction for expenditure on equipment for the accounting period of purchase, was to be raised to £250,000 from 01 January 2013. But the transition from the previous £25,000 limit always looked […]

Is all the Anger on Tax Avoidance Justified?

Published on January 31, 2013 By admin

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 […]

An in-depth Analysis of Advisory Fuel Rates for VAT

Published on October 12, 2012 By admin

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 […]

Reporting Financial Performance

Published on October 5, 2012 By admin

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 […]

Small Business Accountants in Fulham

Published on September 7, 2012 By admin

Running a small business is never an easy task. Starting a small business is even worse. Apart from capital input, you also need to deal with a lot of regulations as well as endless administrative tasks. When you take all this into account, almost for the first three or four months you will be doing […]

Business Record Checks on Hold

Published on August 31, 2012 By admin

HMRC has suspended the programme of business record checks. But the bad news is there will be more targeted checks on specific businesses. Early last year HMRC announced that a special task force would be visiting businesses at random to check the standard of their record keeping. Originally, HMRC intended to make 50,000 visits; this […]

Online Access to Tax Records for Every Tax Payer

Published on November 17, 2011 By admin

The government is suggesting that every taxpayer should be given online access to their personal tax records. This is a recommendation outlined by the public consultation on making the tax system easier to understand. The other steps outlined include pre filled tax returns to people in the tax return system. All taxpayers will be sent […]

The Consequences of VAT Rise on Quartely VAT Bills

Published on June 17, 2011 By admin

Rise in the VAT from 17.5% to 20% has defenitely had a big impact on small businesses and households throughout the UK in terms of their quarterly VAT. At 17.5% the UK had the lowest standard rate of VAT and the only 0% rate on food of any major EU member state.

How to Manage the Cash Flow of Small and Start-up Businesses

Published on June 9, 2011 By admin

With more and more small and start-up businesses emerging with the economic revival than it is vital that they receive the best advice possible in terms of their accounting, tax and cash flow requirements. One key area among all that many new small businesses are found foul is the cash flow. Often the issue being […]