News & Press

Something you may not be aware of as a business owner is the presence of multiple VAT schemes. The flat rate VAT scheme is one of them.The flat rate VAT scheme is a simplified version of VAT where instead of claiming VAT on purchases and...

Annual audit fees can often be substantial. However, in terms of reducing the overall cost of an audit you need to understand what is involved in the audit and what you can do to substantially reduce the amount of work carried out by the...

Key Points:Tax rules have recently changed for landlords and individuals owning property.Corporation Tax rates in the UK are low and so it can sometimes be more efficient to purchase property in a company.As well as tax considerations,...

A company is a going concern when the management consider the company can reasonably continue to trade for the foreseeable future, which is usually accepted to be a further twelve months.The alternatives to a going concern is where the...

Companies often believe that this is an easy calculation…just apply 10% against our debtor balance.Now this may work as an approximation for your management accounts but it won’t do for your annual financial statements. Below is a description...

Generally, when a property is used to earn rental income then it will fall under the definition of investment property.The problem is that FRS 102 (Sept 2015) simply states that the where a property that is owned by one group company and is...

Key Points:It is now more important than ever to ensure your tax affairs are up to date. Government systems are much improved and offer greater visibility on individuals who are not up to dateIf you have only recently acquired a rental...

Many individuals pay into a pension scheme each year, whether through their employer, making their own contributions into a private scheme or a combination of both.However, what most taxpayers don’t know is that there is both a life time...

Within most leases there is often a requirement for the landlord to provide an annual statement of service charge expenditure to occupiers after a service charge period. It is common for the annual statement to be certified by the landlord’s...

The headline thresholds for companies that are required to be audited have not changed for a number of years: £10.2m turnover; £5.1 assets; and 50 staff. However, below the surface are a number of exceptions and you will need to consider...

Sensitive company information in the public domain can be used by various stakeholders such as employees or in particular competitors to gain an advantage.A classic example of this, and an accountants worst nightmare, is when the detailed...

Many small business owners are often looking at tax efficient ways to get money out of their company, or to provide small rewards to employees in a tax efficient way.HMRC recognise that for small items, it is often not practical or efficient...