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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.

October is a super exciting time for us. We’ve been shortlisted for not one, not two, not three but FOUR awards! Can you tell we’re just a tad excited?! Our first award ceremony is on 13th October for the British Accountancy Awards. Last year we had... Read More

Goodwill is usually defined as the ‘extra’ value attributable to a business over and above its tangible assets.In the vast majority of cases, when a business is sold a significant proportion of the sale price will be for this type of intangible asset... Read More

Class 2 National Insurance Contributions (NICs) are currently paid by self-employed taxpayers and members of partnerships if their annual profits exceed £6,025. Class 2 NICs are payable at a flat weekly rate currently, £2.85. Class 2 NICs count towar... Read More

There are distinct rules that VAT registered businesses must follow regarding retention of VAT records.Records include:a record of sales and purchases, and a separate VAT account.Generally, a business must keep VAT business records for at least 6 yea... Read More

HMRC recently announced a deadline for accepting amended claims for Research and Development (R&D) tax credits. This specific opportunity relates to claims to include eligible reimbursed employee expenses as part of qualifying staff costs. Only s... Read More

Automatic enrolment for workplace pensions was instigated to encourage employees to start making provision for their retirement with employers also contributing to make a larger pension pot.The timetable for employers to begin enrolling their staff s... Read More

Before the summer recess, the government confirmed that a new Finance Bill would be introduced as soon as possible after the summer recess. The House of Commons returned to Westminster on 5 September 2017.The new Finance Bill is expected to legislate... Read More

Taxpayers in receipt of child benefit and child tax credits payments should be aware that HMRC can stop making payments on the 31 August following a child’s 16th Birthday.HMRC has issued a press release reminding parents to inform them if any of thei... Read More

A new corporate offence of failing to prevent the facilitation of tax evasion will come into force on 30 September 2017 under the Criminal Finances Act 2017.Under the legislation, a relevant body, (B), which can be either a company or a partnership (... Read More

The government has issued its response to its consultation which started in November 2016 on corporate governance reform. Its response document sets out proposals for a “world-leading package” of corporate governance reforms which it now intends to t... Read More

HMRC has announced the launch of a new compensation scheme for users affected by system issues when trying to register to the new Tax-Free Childcare Scheme (TFCS). The TFCS was launched in April 2017 to the first tranche of working parents. The schem... Read More

The register of people with significant control (PSC register) lists individuals who exert significant control over UK companies and came into effect 6 April 2016.A PSC is anyone in a company or LLP who meets one or more of the conditions listed in t... Read More