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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.

The VAT Flat Rate Scheme (FRS) was introduced to ease the process of calculating and submitting VAT returns for smaller businesses - the FRS is only available to businesses that expect their annual taxable turnover in the next 12 months to be no more... Read More

The impact of Inheritance Tax has been reduced recently for families that own their own home. HMRC has introduced a new relief, the Inheritance Tax main residence nil-rate band (RNRB), which came into effect on 6 April 2017.The RNRB is a tr... Read More

The recent election result has certainly thrown the cat amongst the pigeons.Manifesto pledges that were removed from the Queen's speech include:cancelling plans to remove the triple lock on pensions the means testing of winter fuel payments the intro... Read More

Employers are reminded that the deadline for submitting the 2016-17 forms P11D, P11D(b) and P9D is 6 July 2017. P11D forms are used to provide information to HMRC on certain benefits and expenses that employees and directors receive during the tax ye... Read More

The trivial benefits in kind (BiK) regime came into effect in April 2016. This statutory exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given occasionally to employees or any other benefit in kind classed a... Read More

For high earning taxpayers the personal allowance is gradually reduced by £1 for every £2 of income over £100,000 irrespective of age. This creates an effective marginal rate of tax of around 60% for tax payers with annual income between £100,000 and... Read More

The EU Fourth Money Laundering Directive which makes sweeping changes to combatting money laundering and terrorist financing across the EU were integrated into UK regulations on 26 June 2017.As a result, Companies House has made changes to... Read More

The new land transaction tax (LTT) which will replace the UK stamp duty land tax (SDLT) in Wales will be launched on 1 April 2018. The LTT legislation received Royal Assent on 24 May and is the first Act of this Assembly term.The LTT marks the first... Read More

The City of Ale Festival kicks off with a launch party on Thursday 25 May, at the Narthex in Norwich. And as the main party sponsor, we’d love you to join us and raise a pint. That’s why we’re running our City of Ale competition. You and three frie... Read More

We've just marked ten years of innovation and growth at Farnell Clarke, and have celebrated with the completion of a dramatic office refurbishment, revealing our new-look premises at Delft Way, Norwich, to clients and the media earlier this week.(D... Read More