With effect from the 1 April 2015 the tax relief for qualifying expenditure on R&D increases to 230% for the SME scheme and in addition large companies “above the line” expenditure credit increases to 11%. […]
HMRC have updated its guidance given in VAT Notice 701/7: VAT reliefs for disabled and older people. The updated notice gives additional guidance on zero rating and provides information on reduced rate mobility products. The […]
Following Lord Hodgson’s report on the Charities Act 2006 which was published back in July 2012 together with many recommendations, this review suggested that charities with income under £1,000,000 should be audit exempt. At present […]
The tax year end is 5 April 2015 – but don’t wait until then to speak to us about saving tax! The earlier we can discuss your personal and business matters, the more likely it […]
With the government’s finances in a poor state we anticipate an increase in HMRC enquiries over the coming year. If adequate records are not retained, it can be very difficult and costly to refute HM […]
As the 31 January filing deadline approaches, HMRC has compiled its annual list of excuses used in unsuccessful appeals against penalties for late filing and payment. They are – My pet dog ate my […]
If you give your customers a discount for paying you quickly, you can currently reduce the VAT appearing on your sales invoices by the discount percentage. From 1 April 2015, VAT will have to be […]
From April 2015 married couples and civil partners will be eligible for a new transferable tax allowance. The Transferable Tax Allowance for married couples will enable spouses and civil partners to transfer a fixed amount […]
If you are trading via a Personal Service Company then have you considered a company pension scheme. Not only do the pension contributions save corporation tax at 20% but they also reduce any potential IR35 […]
A quick reminder of the tax treatment of the Christmas Party. The cost of a staff party or other annual function for employees is an allowable tax deduction for businesses. This does not apply to […]
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