Latest News
Apr 2019 – Elect in good time
Events don’t always turn out as expected. For example, you may need to wait for a later profit or loss to arise before you can judge whether it’s right to elect to change the tax treatment of an earlier transaction. This is why the law ...
Apr 2019 – VAT goes digital
For VAT periods beginning on and after 1 April 2019, most VAT-registered businesses will have to submit their VAT returns directly from some form of software, with no manual retyping of figures. All the VAT records also need to be kept in a digital format ...
Apr 2019 – Money for miles
If you use your own car for a business journey, perhaps to travel to a customer, you can claim mileage expenses for that journey. Many employers pay the full tax-free amount of 45p per mile, which drops to 25p for miles in excess of 10,000 ...
Apr 2019 – Most employees, with very limited exceptions, must be paid the National Minimum Wage
Most employees, with very limited exceptions, must be paid the National Minimum Wage (NMW) or the National Living Wage (NLW). These hourly rates vary according to the age of the worker, so it’s crucial to keep a sharp eye on the birthdays of your younger ...
Apr 2019 – The 2019 Stockport Business Awards Now Open for Entry!
The 2019 Stockport Business Awards, organised and founded by Clarke Nicklin, are now officially open for entry. This year there are 13 categories for businesses in the borough to apply for, businesses can apply for as many as they like and its free to enter ...
Apr 2019 – Excited about electrics
If you are considering acquiring a new company car, take account of the changing tax incentives for electrics.The taxable benefit for having an electric company car is currently calculated at 13% of its list price when new, but this will rise to 16% on 6 ...
Apr 2019 – Innovate to accumulate
Companies which invent new production methods or products can claim enhanced tax relief for the Research and Development (R&D) costs. Small and medium sized companies can claim 230% of qualifying R&D costs, and a 14.5% payable tax credit if this extra deduction results in a ...
Apr 2019 – Investing for the future
The Government encourages individuals to make high-risk investments in small trading companies or charities byproviding Income Tax relief for investors in the following schemes (limits for 2018/19): • Social Investment Tax Relief (SITR): 30% relief on up to £1 million• Enterprise Investment Scheme (EIS): 30% ...
Apr 2019 – Everyone has an annual exemption for Capital Gains Tax
Everyone has an annual exemption for Capital Gains Tax (CGT) of £11,700 for 2018/19. This is wasted if you don’t make capital gains in the tax year. You can’t carry forward any unused exemption to a different tax year, or transfer the exemption to another ...
Mar 2019 – Spring statement 2019 – What you need to know!
What you need to know about the Spring Statement Economy The government’s efforts to build a stronger, fairer economy are paying off. The economy remains resilient, and is forecast to continue growing: • there have been nine consecutive years of growth, and the OBR has ...
Mar 2019 – Planning to sell
For many people the New Year prompts a review of their life goals. If you are wondering whether, or when, you should sell your business, a sensible first step is to form an outline plan for its disposal. The sale of a successful trading company ...
Mar 2019 – Buyers beware
Buying property is always complicated, but now you must think about the different taxes you will pay on the purchase of properties located in Wales, Scotland, or the rest of the UK. In Wales, you will pay Land Transaction Tax (LTT), which starts at 3.5% ...
