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How to manage VAT surcharges
The Default Surcharge is often seen as a blunt instrument in the battle to improve taxpayer compliance. However a helpful decision on managing Default Surcharges was released earlier this month. The case was heard by the Upper Tribunal so it sets a precedent which HMRC have to follow. A Default Surcharge is the term given…
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Further International Award for Burgis & Bullock
We are delighted that our Team have been recognised with our first award of 2017, having named among this year’s winners, in the Corporate Vision Global Excellence Awards as: Most Outstanding Chartered Accountancy Practice – Midlands. The Global Excellence Awards is one of Corporate Vision’s most popular and wide-reaching programmes, based on quantitative and qualitative research,…
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A 20-year Business Partnership – Flowmeters, Finances and Friendship
Today’s blog has a slightly different twist and was written by our clients Katronic: In the 20 years since Katronic started, many things have changed, but some have not. As the company has grown and evolved certain people, and partnerships have flourished along with the expansion of the organisation. The black and white picture above,…
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Can you be charged a VAT Penalty where you’re caught up in a fraud?
Last autumn HMRC published a consultation document asking for views on a new penalty for participating in VAT fraud. The Budget confirmed that the new penalty is due to come into force when the Finance Bill receives Royal Assent later this year. But I’ve not been fraudulent! This is a significant development because the new…
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Martin Clunes loses right to remain anonymous at tax tribunal
TV celebrity Martin Clunes has recently lost his case at a First Tier Tribunal (FTT) to keep his name and details private in a forthcoming tax appeal over whether he is entitled to offset the cost of cosmetic surgery against his earnings when working out his income tax liability. The tribunal heard that Clunes will argue he underwent…
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Are you affected by the VAT Flat Rate Scheme changes?
Are you a “Limited Cost Trader”? Answering the easy question first- if you use the VAT Flat Rate Scheme and you spend less than 2% of your VAT inclusive turnover or less than £1000 per annum you are classed as “Limited Cost Trader” and you need to look at how the changes will affect…
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What is the Apprenticeship levy and how does it work?
The Apprenticeship levy starts on 6 April 2017. The levy will be set at 0.5% of an employer’s ‘pay bill’ (see below) and is to be paid through the PAYE system. It will only be paid on any ‘pay bill’ in excess of £3 million. This is achieved by employers having an allowance of £15,000…
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Tribunal overturns HMRC Penalties
In a recent tax case the First Tier Tribunal agreed with HMRC that the capital loss claim in Simon Fry’s tax return was due to his carelessness and should be subject to a penalty, but given that the unused portion of the claimed loss would be used the tribunal agreed that the penalty should be calculated on the…
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Valuing synergy in M&A deals
Synergy is the rationale that is used to justify many public and private M&A deals and support the transaction price. However, synergy is often little understood and still less valued correctly or actually delivered once the deal celebrations are over. In this paper we consider the best ways to identify synergy, value it, and effectively…
Understanding your business finances is about far more than meeting your statutory obligations. While many business owners focus on sales and turnover, a deeper understanding of profitability, cash flow and overall financial performance can lead to better decision-making and long-term business success. The financial statements produced by your accountant can …
August 14, 2026
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