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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.

In last year’s Autumn Statement, the Chancellor announced a new capital allowance for electric vehicle charging points. Capital allowances is the term used to describe the allowances which allow businesses to secure tax relief for certain capital exp... Read More

In most cases a business is unable to reclaim the VAT charged when they purchase a car. However, there are different rules for other types of commercial vehicles and in most cases VAT can be reclaimed when a business purchases a commercial vehicle.Fo... Read More

One of the measures announced in the March 2017 Budget was the reduction in the annual Money Purchase Allowance (MPAA) from £10,000 to £4,000. This measure was subsequently dropped from the pre-election Finance Bill, but as expected, has now been inc... Read More

Following the Statement of Intent published in August 2017, the new Data Protection Bill has now been introduced to Parliament and it had its first reading in the House of Lords on 13 September 2017. The second reading in the House of Lords, which wi... Read More

The Wear and Tear allowance that allowed landlords to reduce the tax they paid on furnished property lets was withdrawn at the end of the 2015-16 tax year. The 10% deduction was available to landlords regardless of whether furnishings in their proper... Read More

The VAT annual accounting scheme is open to most businesses with a turnover of up to £1.35m per year.  The main benefits of the scheme include the requirement to file only one VAT return per year. This can significantly reduce the amount of admi... Read More

There are a myriad of rules that new businesses must follow when they start employing staff for the first time. A full examination of the rules is beyond the scope of this article however we wanted to point out some important issues to be aware of wh... Read More

The new timetable for the introduction of Making Tax Digital (MTD) has been confirmed with the publication of the second Finance Bill. The MTD regime was originally due to start from April 2018. However, there were significant concerns that the... Read More

HMRC’s Card Transaction Programme is a disclosure opportunity for businesses that accept card payments and have not paid the right amount of tax due. The disclosure opportunity has been widened to also allow businesses that accept cash payments to al... Read More

The Chancellor has announced that the Autumn Budget 2017 will be held on Wednesday, 22 November 2017. The announcement was made on the GOV.UK website and included a video message from the Chancellor, Philip Hammond. In the video, the Chancellor said... Read More

Now that the second Finance Bill of 2017 has been published, we finally have confirmation that a number of measures announced earlier this year are to be included on the statute books. These measures were cut from the first Finance Bill of 2017 due t... Read More

On the 14th October, we are sponsoring the bar at a great event called Porkstock. After last years’ successful event it has moved its location to Norfolk Showground. The day event is completely free to attend so pop down for some wonderful cookery de... Read More