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...

With the excitement of Christmas and New Year’s Eve behind us, most of us are looking forward to the year ahead, full of plans and optimism. January often feels like a month dedicated to fresh starts, but before beginning a new year of...

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...

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...

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 date If you have only recently acquired a rental...

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...

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...

After months and months of debates, discussions and quite possible arguments, it seems like we are now still nowhere nearer to knowing if (or possible not) Brexit will occur on October 31st 2019. With this in mind, as a tax adviser, many of...

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...

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...

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...