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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…
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How will new tax rules on interest affect landlords?
The recent Summer Budget 2015 contained one or two unpleasant surprises, especially if you are a landlord and liable to higher rate tax. Chancellor George Osborne announced that the Government will restrict the amount that landlords can currently claim on loan interest payments from April 2017. According to the Chancellor, this will “create a more…
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The changing strategy of emerging-market acquirers
There was a very interesting article published recently by McKinsey, the global management consulting firm, about the changing M&A profile of emerging-market acquirers. The article’s insights should be taken into account by any business owner who is developing their exit strategy and considering where to find potential buyers. Emerging-market companies have been key acquirers in…
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The Summer Budget brings in a real increase in tax on dividends of 7.5%
A significant but perhaps less publicised change announced by the Chancellor last week was that if you are earning more than £5,000 in dividends you will be subject to an increase in tax. Notional dividend tax credits are to be abolished and the rate of tax on dividends will be increased to 7.5%, 32.5% and…
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Are you missing out on Tax Relief on Patents?
UK Patent Box allows 10% corporation tax for sales of patented products and patent royalties; existing regime to be closed for new companies in June 2016 but available for five more years to those who have opted in. Background: Companies that own or have an exclusive licence over patents granted by the UK Intellectual Property…
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Engineering a bright future
One of the UK’s fastest growing companies has successfully completed a secondary management buy-out that was arranged and structured by Burgis & Bullock Corporate Finance. The Engineering Technology Group supplies high specification machining centres and fixtures and provides engineering services to manufacturers in the automotive, aerospace, and other specialist industrial sectors. Turnover has increased by…
Last week, our trainees took part in an internal audit training session designed to strengthen their technical knowledge and support their professional development. While gaining practical skills was the key objective, we also wanted to make the learning experience engaging and enjoyable, so we incorporated some games. At Burgis & …
October 14, 2026
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