Jan 18 – Why Your Tax Computation May Be Wrong

Where your main income is taxed under PAYE, you may not be asked to complete a tax return each year. Instead, the HMRC computer automatically compares all the reports of your income made by employers and banks, and if you have under or over-paid tax ...
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Jan 18 – R&D Claims Can Be Amended

Research and development (R&D) tax relief allows small and medium-sized companies to claim a tax deduction for 230% of their qualifying R&D costs, but they must show how the total of relevant costs was arrived at. This total of costs claimed can include the salaries ...
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Jan 18 – When You Wish Upon a Star

Last year the team at Clarke Nicklin worked hard on fundraising for the childrens charity, When you Wish Upon a Star. From dressing up, fun runs and bake offs, the team raised over £300 for this amazing charity. When You Wish Upon a Star has ...
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Jan 18 – New Marketing Manager for Clarke Nicklin

Laura Frost joins Clarke Nicklin as our new marketing manager and takes over from Chelsea Maher as she leaves to pursue her travelling dream after nine years with the business. Laura Frost will now head up our marketing department and will be the main contact ...
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Dec 17 – Zero is a Number for VAT

VAT is charged at three rates in the UK: 20%, 5% and 0%; so zero is definitely a number for VAT. However, zero-rated sales should not be confused with VAT-exempt sales. Sales which are zero-rated must be included within your business turnover that counts towards ...
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Nov 17 – VAT Agreements

The VAT rules are relatively easy to operate on a day-to-day basis, if all your income is business related and all your sales are subject to VAT. You can reclaim all the VAT incurred on your purchases, and you don’t have to worry about apportioning ...
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Oct 17 – Sparkling Night at Stockport Business Awards

Stockport Business Awards 2017 took place at Stockport Town Hall last night and 400 people turned out to celebrate the achievements of the town’s best businesses. The awards were set up by Clarke Nicklin Chartered Accountants back in 2012 and have grown year on year ...
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Sep 17 – VAT and Second-hand Goods

If your business deals in second-hand goods, it can use a concession that significantly reduces your VAT payments compared to normal VAT accounting. Using this concession you account for the VAT on its profit margin on the second-hand goods, rather than on the full sales ...
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Sep 17 – VAT Partial Exemption

A business that has some income which is exempt from VAT, but also makes sales that are subject to VAT, is referred to as ‘partly exempt’. Input VAT on purchases can only be recovered if it relates to ‘VATable’ sales made by the business, i.e., ...
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Sep 17 – Inheritance Tax Nil Rate Band

After your death your relatives will have to pay inheritance tax (IHT) at 40%, if the net value of your assets exceeds £325,000. A discounted rate of 36% applies if you leave at least 10% of your net estate to charity. Where you leave the ...
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Sep 17 – Pension Scheme Withdrawals

Pension scheme rules are complicated, and they are constantly changing. It is essential that you take advice from a qualified independent financial adviser before drawing funds from your pension scheme, or using those funds to invest in business assets. Before you sign any deals, check ...
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Aug 17 – Buying Off-plan is Risky

When you purchase a new property off-plan, you may put down a deposit to reserve the property before it is finished, or even started. The contract to purchase the property is normally not completed until the property is finished, and at that time the balance ...
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