Tag: Devon accountants

  • Real Time Information – We’re Not Ready!

    HM Revenue & Customs has had to postpone a major overhaul of payroll taxes because small businesses have complained that they’re not ready. Real Time Information or RTI was originally introduced for employers to provide information about tax and National Insurance each time they pay an employee, instead of annually – due in October this…

  • Self-Employed and Need a Mortgage?

    Obtaining a mortgage used to be reasonably straight forward but recent changes mean lenders want to see strong proof of income plus the ability to keep-up mortgage payments if interest rates rise.

  • Are You a Pressure Cooker?

    Are you about to explode because of the stress of running your business? More than two-thirds of entrepreneurs say running a business is more stressful today than it’s ever been.

  • Are Pop-Ups Causing A Retail Revolution?

    Many seaside towns, including several nearby, are suffering from empty shops and deserted high streets. This destroys the atmosphere of our towns and give the impression of shabby, uncared for shopping areas. But, a retail revolution, stimulated during the recession, is gathering pace and could contribute £2.1bn to the economy this year, a study forecasts

  • Lack of Mentoring Could Be Harming Business Growth

    We’ve discovered that a lack of mentoring in the UK is holding back five million small and mid-sized British businesses (SMEs) from achieving growth and contributing to the economy. These business are twice as likely to fail in five years’ time than those who follow the advice of an experienced advisor.

  • Will Inheritance Tax Make The Elderly Move Abroad?

    Could UK Inheritance Tax Make The Elderly Move Abroad? We recently informed you about changes to Inheritance Tax rules. We have now uncovered fears that elderly people could be driven overseas by a Government clampdown on the use of trusts to prevent their assets being swallowed up by inheritance tax.

  • Do You Have Enough People In Your Business?

    Do you have enough people to run your business effectively and profitably? Worried you cannot afford to hire more people? If so, how about an apprentice? Apprentices receive the appropriate minimum wage for their age while they train and can be a great advantage to small companies. The Apprenticeship Grant for Employers scheme (AGE) ensures…

  • Do you want HMRC to raid your bank account?

    Continuing our mission to keep you updated with the latest from HM Revenue and Customs, we’ve discovered that they will be given powers to access bank accounts, but, thank goodness, not to empty them. It’s been in the news again recently and many businesses are seriously concerned. New powers allowing HMRC to raid bank accounts…

  • How To Double Your Inheritance Tax Relief

    If you leave your business to your spouse in your will to keep it in the family, this is IHT free, but there is a way to double this relief. If you own all or part of a business you can transfer this to anyone in your will while you are alive as long as…

  • When Is A Structure Not A Building?

    The cost of providing a shelter for employees who smoke can be high – but can you claim a tax deduction for this? It all depends on whether this structure is a building or a piece of fixed equipment. Accountants sometimes struggle with this! If it has four walls and a roof then it’s a…

  • Employers Attacked Over RTI Mistakes

    We’ve kept you updated with the introduction and issues with Real-Time Information (RTI), and now we have further information about how employers who make mistakes in RTI reporting have been fined. Between July and the end of September HMRC carried out a review of discrepancies between the amount of PAYE tax and NI employers thought…

  • Can You Disincorporate Your Business Tax Free?

    The new disincorporation tax relief removes the corporation tax problem when you transfer your business to a partnership or sole trader, but there are severe income tax implications. Making this change could trigger a corporation tax bill. The Office of Tax Simplification decided this was unfair to business owners and introduced the disincorporation tax relief…