July 2019
Our lead article looks at an important change for the construction industry: the introduction of the VAT domestic reverse charge. The charge takes effect from 1 October 2019, and will mean significant changes in invoicing and VAT return procedures for those involved.
May 2019
Capital expenditure is an important area for every business. There have been several changes to the capital allowances regime over recent months.
February 2019
The 'off-payroll' or 'IR35' rules have been adapted considerably since they were first introduced, and Autumn Budget 2018 announced further change to come. Our lead article provides an update in this area.
November 2018
The Enterprise Management Incentives (EMI) scheme is a tax-advantaged share option scheme that can work particularly well for smaller companies. It has had an unexpectedly chequered history this year, hitting the headlines in April when it ran into problems obtaining continued authorisation from the EU. A period of uncertainty followed, when it was unclear whether EMI options were eligible for tax relief.
July 2018
Making Tax Digital for VAT (MTDfV) is on the horizon. There is now less than a year to prepare for this momentous change in the way VAT registered businesses interact with HMRC. We cover this in our front page article.
Summer 2018
ATTENTION - all businesses with turnover above the VAT threshold
Spring 2018
Our lead article is of particular relevance to corporate clients, and covers the correct procedure to be followed when making dividend payments. Highlighting some common errors, the article offers guidance on best practice, and how best to avoid challenge from HMRC.
Winter 2017
This quarter we provide an update on changes to the pensions auto-enrolment regime. This entered a new phase from 1 October, with new employers coming immediately into compliance obligations. Further changes are on the horizon, with increases to minimum contributions due from April 2018. This makes a good time for employers to review their ongoing responsibilities under the regime.
Autumn 2017
This quarter we provide an update on the government’s new timetable for the roll-out of the Making Tax Digital for Business (MTDfB) programme. HMRC is now allowing a longer period for most businesses to prepare for change. Initially, MTDfB will apply only to businesses whose turnover is over the VAT threshold. These new rules will apply from April 2019.
Summer 2017
Our lead article provides a planning perspective to the proposed reduction in the Dividend Allowance from April 2018. Investors with quoted shareholdings can take some action now to reduce the impact of the reduction in this ‘tax-free’ allowance.
Spring 2017
This quarter we consider changes to the VAT Flat Rate Scheme (FRS) which allows small businesses to pay over VAT on all their sales at a flat rate rather than output VAT on sales less input VAT on purchases.
Winter 2016
This quarter concerns a new tax relief, Investors' Relief, which has been introduced with the aim of attracting investment in new share capital for unlisted companies. We look at the conditions which need to be met by the companies. Investors who qualify for the new relief will benefit from a reduced rate of capital gains tax on the eventual disposal of the shares.
Autumn 2016
This quarter we consider the National Audit Office report on the quality of HMRC service. It highlights some serious shortcomings particularly in their dealings with individuals' personal tax affairs which could have resulted in overpayments of tax.
Summer 2016
This quarter we deal with the Lifetime ISA. Although it is not scheduled to be introduced until April 2017, eligible individuals need to start considering whether the ISA will be a suitable vehicle for long term savings.
Spring 2016
Our lead article deals with the Personal Tax Account (PTA). A number of our clients have asked about PTAs and we answer some of your queries here. The PTA is an early step in the long path the government has embarked upon in its Making Tax Digital project.
Winter 2015
This quarter we consider whether your business may be at risk for 'failure of commercial organisations to prevent bribery' and the procedures that need to be put in place to reduce your business' exposure and to prevent prosecution under the Bribery Act.
Autumn 2015
Articles in this edition include Real Time Information submissions - no more automatic penalties, My homes are my castles (but may not be tax free) and Avoiding the Settlements trap.
Summer 2015
Articles in this edition include Shared parental leave and pay, Charities - audit or independent examination? and The new VAT treatment for prompt payment discounts.