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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…
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Changes to Non-Domicile Tax Rules – part 1
Introduction On 19 August 2016 HMRC published documents on their proposed changes to the taxation of non-UK domiciled individuals (“non-doms”) which are due to take effect from 6 April 2017. There are some complex changes to the UK taxation of non-doms and careful deliberation needs to be taken to understand the full effect of the changes…
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New and improved Business Watch Alert System for Businesses in Warwickshire
The Police Warwickshire Business Watch email alert system has now been updated from VC Relay to the Community Messaging Service (CMS), and it brings with it a host of new features to enable you to tailor the messages you want to receive. Warwickshire County Council’s Business Crime Advisor along with colleagues in Warwickshire Police are…
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Company purchase of own shares – getting it right
Share buy-backs are a useful and potentially tax efficient method to restructure the shareholdings of a private company. However, it is all too easy to get the procedure wrong meaning the transaction could be void or adverse tax consequences arise. The two most common situations we encounter where a share buy-back is used are the…
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SMEs losing out on ‘unfair’ contracts
That’s the conclusion of a report recently produces by the Federation of Small Business (FSB) which suggests that half (52%) of small firms have been stung by unfair contract terms with suppliers, costing them almost £4 billion over the past three years. 42% of FSB members raised concerns about utility firms, but there were also concerns…
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Business valuations post-Brexit
For any company, business owner, lender or investor looking at an M&A deal one of the main questions thrown up by the EU referendum vote is how this affects business valuations. After initial plunges, all of the main listed company indices – the FTSE 100, FTSE 250, and FT All Share Index – are now…