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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 President of the Employment Tribunals (England and Wales) and the President of the Employment Tribunals (Scotland), have issued updated joint presidential guidance in relation to the so-called “Vento bands” for compensation for injury to feelings... Read More

When a company makes a purchase of its own shares, any excess paid over the amount of capital originally subscribed for the shares is usually treated as a distribution. However, there are special provisions that enable an unquoted trading company or... Read More

We recently discussed updated Companies House guidance that provides advice on checking which names are acceptable to Companies House when naming a company. HMRC also published guidance for choosing a company name when setting up a private limit... Read More

The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 and opened to all remaining eligible families with children under 12 on 14 February 2018. The new scheme allows working parents to receive a government top-up on their contributions. For... Read More

New National Minimum Wage (NMW) and National Living Wage (NLW) rates come into effect on 1 April 2018. The NLW first came into effect on 1 April 2016 and is the minimum hourly rate that must be paid to those aged 25 or over. The NLW increases by 33p... Read More

The Customs Handling of Import and Export Freight (CHIEF) is a computerised service that records the movement of goods by land, air and sea. The system allows importers, exporters and freight forwarders to complete customs information electronically,... Read More

There are complex VAT rules that determine the amount of VAT that can be recovered when purchasing a new car. In most cases, when a business purchases a car they can’t reclaim the VAT incurred.The exception to this rule is if the new car is used... Read More

The following key changes to employment law will come into force in April 2018:The National Minimum Wage (Amendment) Regulations 2018 will increase the national minimum wage (NMW) and national living wage (NLW) rates from 1 April 2018. The NLW for wo... Read More

We’ve had a busy couple of months welcoming new staff and we haven’t quite finished. Sam Morton Sam joined us on 12th March as Trainee Account Handler. He has joined us from 3AAA apprenticeship scheme. He will be helping the accounts teams with vario... Read More

The marriage allowance is available to married couples and those in a civil partnership, where a spouse or civil partner doesn’t pay tax or doesn’t pay tax above the basic rate threshold for income tax.The lower earning partner can transfer up to £1,... Read More

The Finance Bill 2017-18 officially known as Finance (No.2) Bill 2017-19, received Royal Assent on 15 March 2018 following agreement by both Houses. The Bill is now an Act of Parliament to be called the Finance Act 2018. The Act contains th... Read More

Under new rules that came into force on 15 March 2018, HMRC has enhanced powers to make online marketplaces accountable for VAT fraud committed by online sellers on their platforms. These measures are correctly referred to as joint and several liabil... Read More