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Chancellor’s last Autumn Statement
On Wednesday the Chancellor, Philip Hammond, presented his first and what will prove to be his last Autumn Statement to Parliament. Many of the announcements had been widely leaked to the press in the weeks running up to the Statement but the news that the annual Budget was to be moved to November from 2017…
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VAT: deregistration enquiries reap rewards
Recently we have noticed that there appears to be a co-ordinated strategy by HMRC to review the national option to tax records whenever a business deregisters from VAT. Where the business had a property subject to an option to tax HMRC are looking into the reason for deregistration. Quite often the business will have been…
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Charity Advertising-VAT relief
A journey through Time and Space! The reissue of VAT Notice 701/58 “Charity advertising and goods connected with collecting donations is a welcome reminder of the rules for this valuable relief. Zero rate VAT is available for supplies of all types of advertising time and space to charities in any medium which communicates with the public.…
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Claiming VAT on pre-registration costs
Input VAT HMRC have backed down on their (unannounced) apparent policy change for recovering pre-registration input tax. HMRC had been issuing letters threatening assessments where assets had been on hand prior to the date of VAT registration for a reduction in the input tax to reflect that use. Indeed some assessments had been issued! There…
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VAT Update – Charities & Not for Profit
Level playing field… Charities and Not for Profit businesses providing care and welfare services are increasingly being depended upon to take up the role previously held by the public sector of caring for the most vulnerable in society but it would be wrong to assume that all of these providers benefit from the same VAT…
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What is changing with IR35?
Do you understand your responsibilities under IR35? Changes are coming from April 2017 If all of the following apply then you need to follow IR35 legislation: you work for a client as a contractor, sole trader, freelancer, or consultant you engage with the client and pay yourself through your own limited company or partnership (sometimes…
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Why are Companies House rejecting Small Company Accounts?
The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that new accounting rules for small companies has led to Companies House rejecting accounts filed by the 30 September deadline as companies and accountants are falling foul of complicated reporting rules under the Companies Act and new FRS 102 exemptions. Recent changes to…
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What’s happening to Business Rates in 2017?
Business rates are a tax levied on the occupation of property and ownership of empty buildings. All non-domestic properties need to pay business rates, similar to individuals paying council tax on private residences. Business rates are calculated by multiplying the rateable value of your non domestic property (worked out by rental value) by the correct multiplier…
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Changes to Non-Domicile Tax Rules – part 2
In the second part of our blog on HMRC proposals to changes in the taxation of non domiciles we look at the final two recommendations from the recent consultation paper. Trusts The proposal for a trusts benefits charge has been scrapped in favour of amending the existing rules. The adapted legislation will provide certain, limited…
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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