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There are now less than six months until the UK leaves the EU, and we still don’t know the terms of the withdrawal agreement. It is possible that the UK will leave the EU without a deal, which would have wide implications for many UK ...

Last Thursday Clarke Nicklin organised the seventh Stockport Business Awards held at the iconic Stockport Town Hall. Over 350 people attended the black tie awards dinner to celebrate the success and achievements of the region’s finest. TV presenter, Jenny Powell, hosted the awards for the ...

If your family receives Child Benefit and you are a high earner (£50,000 or more per year), you need to pay a special tax charge to claw back some or all of the Child Benefit received. It is your responsibility to tell HMRC that you ...

You may have borrowed assets or money from your company with the intention of repaying or making good the cost to the company in the future. If you make this repayment by 6 July following the end of the tax year in which you received ...

The VAT annual accounting scheme seems like a good idea, as you don’t have to submit quarterly VAT returns. Instead you pay your VAT by monthly or quarterly instalments during the year, and make a final balancing payment with a single VAT return for the ...

If you receive a late filing penalty from HMRC, there is a one in three chance that it is wrong, and you can get it cancelled. We know that HMRC cancels more than a third of the penalties it issues each year; it says this ...

There is an important difference between expenses you incur while providing a service to your customer (e.g., travel costs), and costs known as ‘disbursements’, which you pay on behalf of your customer (e.g., MOT charge). If your business is VAT registered, you must add VAT ...

These are mileage rates which employers can use to work out how much to reimburse employees who use company cars for business journeys, but who have paid for the fuel used on those journeys out of their own pocket. The advisory fuel rates are reviewed ...

If you work on projects for larger businesses through your own Personal Service Company (PSC), both you and that larger business can save tax and National Insurance (NI) costs. Your savings arise if you extract funds from your PSC as dividends rather than as salary, ...

The institute of Chartered Accountants England and Wales have presented Graham Clarke with a certificate of recognition upon reaching 50 years membership. Graham Clarke, whose father was one of the original founders over 50 years ago is very much still an employee at Clarke Nicklin ...

Convoluted tax avoidance methods are known as ‘tax schemes’. Back in 2000, a popular tax scheme was to receive pay from your job as a ‘loan’, on which there was no tax, and no National Insurance. The individuals who took part in these schemes were ...

Since 6 April 2017 you haven’t had to report income from trading or rents (property income) if the total amount received in each category is less than £1,000 per tax year, but there are conditions. The property income allowance can’t apply to rent from letting ...