Tag Archive

Accounts Preparation on Cash Basis

Published on April 27, 2012 By admin

During the budget it was announced that the government is going to introduce simplified tax rules for business accounts preparation. What are the tax advantages that you think that you will be entitled to from these new tax rules?

Alternative Dispute Resolution for Small and Medium Enterprise customers

Published on April 27, 2012 By admin

HM Revenue & Customs (HMRC) is running an Alternative Dispute Resolution (ADR) trial, which provides Small and Medium Enterprise (SME) customers with an alternative way of resolving tax disputes in compliance checks.

How to use Vouchers for Tax Savings

Published on March 30, 2012 By admin

If you’re looking for a low admin benefit to be given to your employees, vouchers may be the answer. The range of goods and services you can provide this way is huge, making them more appealing to your employees.

Get Tax Deduction for Having a Website

Published on February 17, 2012 By admin

Having a website is almost a necessity for any business, but setting one up and maintaining it can be expensive. This article explains as to whether you can get can tax exemptions for developing and maintaining a website. Most businesses can claim a 100% tax deduction for some of the cost of setting up a […]

Treatment for Depreciation of Fixed Assets When Preparing Year End Accounts

Published on December 16, 2011 By admin

The provision for depreciation is an accounting and tax term used to describe the calculation of the physical decline of fixed assets of businesses. Most fixed assets such as plants, equipment, furniture and vehicles decline in value over time as they are used and as they age. Hence, one needs to take into account the […]

Intensified Crackdown on Offshore Tax

Published on December 15, 2011 By admin

The government in its latest move on hunting for offshore tax evading companies have intensified its effort in bringing the culprits to book.. The unit dedicated for this endeavour is the Offshore Co-ordination Unit of HMRC. Its duty is to scrutinise extra information of UK taxpayers with money abroad.

New Tax Warning Letters for Doctors and Dentists

Published on November 22, 2011 By admin

According to the latest press release by HMRC, about 2,500 doctors and dentists have been targeted by HMRC for possible tax evasion. The warning letters have already been prepared by HMRC and will be sending them in the near future. The alleged tax dodgers will have to pay their dues within 21 days or face […]

Tax Evaders to Face Fresh Crackdown

Published on November 9, 2011 By admin

People who own foreign properties and have evaded tax all this time will come under the microscope by the UK tax authorities. People with between £2.5m and £20m in wealth and homes abroad will be the first to be targeted by a recently established unit of tax inspectors. HM Revenue & Customs (HMRC) expresses hope […]

Tax Advice and Tax Planning when Selling your Business

Published on May 25, 2011 By admin

Selling your business can be an extremely complex and a time consuming exercise, and can require the expertise of professionals such as consultants, accountants, and tax advisors. If you find you don’t really want to sell your business, you have the option of reorganizing your business on a tax-deferred basis. This is one of the […]