Tag Archives: business support

  1. Juicy First Tier Tribunal Case

    The First Tier Tribunal (FTT) was recently called upon to examine whether fruit and vegetable juices sold as meal replacements were beverages and therefore standard-rated for VAT. The case (The Core (Swindon) Ltd [2019] TC 06874) concerned a juice bar and health café which supplied juice cleanse programmes (JCPs) consisting of fresh drinkable products made…

  2. Can Employers Still Claim the Employment Allowance?

    In broad terms, the Employment Allowance (EA) is available to most employers and should enable them to reduce the amount of National Insurance Contributions (NICs) they have to pay by up to £3,000 per year. The eligibility rules changed from April 2016, and the Autumn Budget 2018 announced further changes expected to take effect from…

  3. New Capital Expenditure Rules from January 2019

    Businesses considering investing more than £200,000 in plant and machinery could benefit from a change to the capital allowances rules in January 2019, which should allow them to obtain tax relief at an earlier time.  Capital allowances are treated as a trading expense of a particular accounting period, so they can potentially increase a loss,…

  4. Making Tax Digital – Be Ready

    The April deadline for Making Tax Digital is rapidly approaching so we all need to be prepared, which includes using a software programme compatible with HMRC. Making Tax Digital will help bring the tax system into the 21st century by providing businesses with a modern, streamlined system to keep their tax records and provide information…

  5. Christmas and New Year Opening Times

    We are closed from 5pm on Friday 21st December, and we will be back in the office on Wednesday, 2nd January 2019. We wish you and your families season’s greetings and look forward to seeing you in the New Year.

  6. Apprenticeship Levy Help for Smaller Firms

    In a bid to make apprenticeship schemes more accessible, the Treasury has raised the amount of the apprentice levy that larger companies can transfer to smaller firms in their supply chain from 10% to 25%. The change, which was announced by Chancellor Phillip Hammond at the Conservative Party conference, aims to provide additional flexibility for…

  7. The End of Austerity – Autumn Budget 2018

    Continuing our commitment to keep you informed about government decisions which influence your finances, here is our summary of the Budget announced on 29 October. The Prime Minister has announced the end of austerity but Chancellor Philip Hammond wants to keep a tight rein on the country’s finances, especially with the unknown consequences of Brexit….

  8. Employees with Electric or Hybrid Cars?

    Legislation is to be introduced to exempt from income tax and National Insurance Contributions, any liability arising from the provision of charging facilities (including electricity) to employees recharging all-electric or plug-in hybrid vehicles at or near the workplace, where facilities are made available generally to the employer’s employees. It does not cover reimbursements for charging…

  9. Self-assessments: new points-based penalty system to be introduced by HM Revenue & Customs?

    It looks like HM Revenue & Customs may be introducing some changes to late filing penalties based on proposals put forward for the Finance Bill 2018-19. As the rules currently stand, an automatic £100 penalty is issued for failure to submit a self-assessment tax return on time. These penalties can increase significantly depending on how…

  10. Rent-a-Room Relief for Absent Landlords

    If you are thinking of working away from home for a while and taking in a lodger to look after the house and pay you some rent, HMRC says you can receive up to £7,500 per year tax free. However, this tax relief is only available if the letting income is from the only or…

  11. Unpaid Invoices and Tax Deductions

    You may have bad debts for your latest accounts which you have ignored. Can you claim tax relief on these? You accountant can prepare your tax returns and company accounts to the best of their knowledge according to the information you provide, but may not be aware of your bad debts. These need to be…

  12. Making Company Car Purchases Cost Effective for Family Members

    In April 2018 the tax and National Insurance (NI) charges for company cars rose again. The maximum charge did not increase but the carbon dioxide (CO2) emissions bands moved so that the majority of company car drivers will pay more in 2018/19 and in 2017.18 for the same car. However, if you use your business…