Norwich  01603 766078  |  Aylsham  01263 735284 |  Lowestoft  01502 531100 |  London  020 374 01857

What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

There is a special scheme known as the enhanced capital allowances (ECA) scheme for energy-saving technologies. The ECA scheme enables a business to claim accelerated tax relief 100% first year allowances (FYA) on qualifying energy efficient and... Read More

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for certain tax purposes. In order to qualify as a furnished holiday letting, the following criteria need to be met... Read More

A waiver of remuneration happens when a director or an employee gives up their right to salary or other cash remuneration and gets nothing in return. Where the employee gets a non-cash benefit in return, this is called a salary sacrifice. The treatm... Read More

A free HMRC tax app is available to taxpayers. The APP can be used to see: your tax code and National Insurance number an estimate of the tax you need to pay your income and benefits up to 12 future tax credits payments your Unique Taxpayer R... Read More

Partnerships are treated as transparent for Capital Gains Tax (CGT). This means that each partner is responsible for their share of any capital gains arising on the disposal of their interests in the assets of the partnership. Each partner is treated... Read More

There is a multitude of rules and regulations that you must be aware of when you start employing staff for the first time. A full examination of the rules is beyond the scope of this article. However, we wanted to list the following points from HMRC&... Read More

It is important to be aware of the main basic business structures available if you are considering starting a new business. There are three commonly used forms of business structure. A sole trader – this is the simplest way of starting... Read More

An independent review into the evidence on minimum wage rates has been published by the government. The review concludes that increases in the National Living Wage (NLW) have little effect on employment whilst significantly increasing the e... Read More

A joint venture is a commercial enterprise undertaken by two or more parties who otherwise retain their separate identities. The parties to the joint venture usually bring together different resources and areas of expertise to help fulfil a specific... Read More

The meaning of goodwill for CGT purposes is complex. The term 'goodwill' is rarely mentioned in legislation and there is no definition of 'goodwill' for the purposes of Capital Gains legislation. In fact, most definitions of goo... Read More

All children in the UK have their own personal annual tax allowance. However, anti-avoidance laws prevent this allowance being utilised by parents of children aged under 18 with some minimal exceptions. If older children are employed by a parent&nbs... Read More

The transfer of a business as a going concern (TOGC) rules cover the VAT implications when a business is sold. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate. Wher... Read More