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Research & Development Tax Relief (R&D)
HMRC’s tax incentives for companies investing money in R&D are not new, but it is only in recent years that the number of SME’s taking advantage of the relief has increased significantly. Still there are businesses who are likely to qualify for the relief who are not yet making a claim. With all the negative…
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Triple Awards for B&B Dealmakers
This month the firm was named “Best for Management Buy-Outs and Best Corporate Finance Team – UK” at the Finance Awards run by Acquisition International. Commenting on the awards, Nathan Angell of Acquisition International said, “These awards put the spotlight on the outstanding individuals who have truly stepped up to the mark for their clients…
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HMRC taken to task over response to taxpayers telephone calls
The head of HM Revenue and Customs (HMRC) recently spent an afternoon attempting to defend the department’s inadequate record on answering telephone calls. In answer to questions put to her by members of the Public Accounts Committee, Lin Homer stated “I don’t think the overall trend is worsening. We aren’t answering enough calls within five…
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VAT opportunities for not-for-profit businesses
For most not for profit entities, VAT is an added cost that needs be considered in respect of any spend plans, particularly when the spending is on a capital item. It is therefore great news if VAT can be avoided on the purchase of either goods or services. Happily, there are a several reliefs from…
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New law for small businesses sneaks under the radar…
Have you implemented the changes in The Small Business, Enterprise and Employment Act 2015 that received Royal Assent in March 2015? Some of the changes should have been implemented already but if you haven’t seen or heard much about these new rules you would not be alone. The new legislation is part of the Government’s…
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HMRC over charge VAT to tune of £900,000!
A recent tax tribunal case holds several lessons for taxpayers who are informed by HMRC that they have underpaid their VAT. Mr Hodges ran a scaffolding company, Aqua Scaffolding Limited “Aqua” between 2006 and 2011. One of HMRC’s offices ran a series of “street sweeps” under which a HMRC employee would travel down a residential…
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Responsibilities of Charity Trustees
Earlier this month the Charity Commission released a report into one of our much loved local charities. They were responding to three allegations of a lack of oversight by the trustees of the charity. The Charity Commission found that there was a failure to plan and to make adequate risk assessment in relation to an…
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HMRC move the goalposts in respect of Pre VAT registration input tax recovery
VAT practitioners around the country have recently become aware that HMRC has revised its interpretation of the legislation that allows the recovery of input tax incurred prior to registering for VAT. Many taxpayers who have had their pre- VAT registration input tax reviewed over the past few months have seen HMRC challenging the full…
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Kids Company criticised after liquidation plans
Trustees of the well known charity Kids Company are being criticised in the press after the charity announced plans to go into liquidation this week. Commentators are asking whether the governance and controls of the charity were sufficient. There will undoubtedly be more information on what exactly went wrong with the charity in the coming…
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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