Norwich  01603 766078  |  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.

Small and medium-sized companies can claim R&D tax credits of 230% of qualifying expenditure incurred on or after 1 April 2015. This article lists a summary of costs that can be considered for this relief, broadly, if they contribute directly to... Read More

Around 230 employers have been named and shamed for underpaying their workers the national minimum wage (NMW) or national living wage (NLW). This is the 12th “naming and shaming” list to have been published and it covers more than 13,000 UK workers a... Read More

Companies House guidance sets out the main requirements for incorporating a company in the UK. The guidance entitled Incorporation and Names also provides advice on checking which names are acceptable to Companies House when naming a company.Choosing... Read More

The assessment of self-employed or partnership profits is relatively straight-forward if the accounting date, to which accounts are prepared, falls between 31 March and 5 April. However, year ends that fall outside these dates create overlap profits.... Read More

The Annual Investment Allowance (AIA) limit has changed significantly over the last number of years. However, the limit has been fixed at £200,000 for all qualifying expenditure on or after 1 January 2016.The current £200,000 limit is a generous allo... Read More

The taxable turnover threshold, that determines whether businesses should be registered for VAT is currently £85,000.Businesses are required to register for VAT if they meet any of the following conditions:At the end of any month, the value of the ta... Read More

The Supreme Court has dismissed HMRC’s appeal in a long running case between the BPP Group of companies (who provide professional and academic education) and HMRC. The case initially centred on the VAT liability of supplies of books and education by... Read More

Donations to charities are a recognised way to benefit charities and certain tax payers. To facilitate these advantages, taxpayers must ensure they keep a proper record of all donations to back up claims on their tax return.Donations that are made th... Read More

HMRC offers a number of alternative methods for claiming back VAT on car fuel where there may be a mix of business and private mileage. They fall into a number of broad categories:Standard scale charge - HMRC operates a useful simplification measure... Read More

The VAT Capital Goods Scheme (CGS) adjusts the initial VAT recovery in respect of certain assets over either 5 or 10 year period. The scheme seeks to agree a fair and reasonable attribution of VAT to taxable supplies and non-taxable supplies relating... Read More

Entrepreneurs' Relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where Entrepreneurs' Relief is available CGT of 10% is payable rather than the normal main rate of 20%. This ca... Read More

Business Asset Rollover Relief allows for the deferral of Capital Gains Tax (CGT) on gains when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on the gain of the old asset is... Read More