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Compliance costs SMEs
SMEs pay almost £10 billion in tax compliance costs each year, according to research by the Association of Accounting Technicians (AAT). In a recent survey of 500 businesses , the AAT revealed that the average SME spends £4,376 complying with business taxes each year. Collectively, the SME sector spends £9.9 billion annually on tax compliance. Important findings: SMEs spend up…
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Prompt Payment Discounts are Changing!
If you make or receive prompt payment discounts, you need to read this. HMRC has recently reminded us of its intention to remove one of the few gifts that it gives to taxpayers. The Taxman is not renowned for its spirit of generosity, but hitherto VAT registered businesses that provide prompt payment discounts to their…
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Employers face Auto Enrolment Penalties
Many of Britain’s small businesses are sleepwalking towards a workplace pension’s disaster. Thousands of UK Business Owners are missing the legally binding deadlines by which they must introduce occupational pensions for staff – and many will face expensive fines and penalties as a result. Auto-enrolment, the regime that requires all employers, no matter how large…
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Solicitors – Limited time tax disclosure opportunity
Are you a Solicitor? Are your tax affairs up to date? Are you certain? In the latest in its series of campaigns, HMRC has recently launched the Solicitors’ Tax voluntary disclosure opportunity. Solicitors who wish to make use of the facility must notify HMRC of their intention by 9 March 2015, and make disclosure and…
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Do you have income overseas?
As the tax return season draws to a close again, HMRC have issued updated guidance to assist UK resident tax payers in bringing their tax affairs up to date in respect of any undeclared income or gains from overseas bank accounts and investments. There are currently formal disclosure opportunities with HMRC in respect of income…
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No Will? Changes to who inherits when you die….
If a person dies without leaving a valid Will the laws of intestacy spell out who is entitled to what. Unmarried partners, close friends and carers have no right to inherit (unless property is jointly owned in a certain way), even if that was the intention of the deceased. Even worse, if there are no…
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Yet another round is looming in respect of the Bridport Golf Club case
We have previously mentioned in other blogs that HMRC might be looking to argue that if it were to repay private members’ golf clubs overpaid VAT relating to green fees it would amount to unjust enrichment. It is currently rumoured that HMRC will make the case that the repayable amounts. which are likely add up…
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MOSS – IT HAS NOTHING TO DO WITH ROLLING STONES
In the first of two blogs on this subject, we look at what MOSS is and why it has been introduced. A subsequent blog will examine how MOSS will work and what the implications are for UK traders. There has recently been a fair amount of press coverage, some more accurate than others, regarding some…
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Non residents to pay tax on UK residential property
Following the closure of the consultation period, HMRC has confirmed that from 6 April 2015 non UK residents will pay capital gains tax on gains arising on the disposal of UK residential property. This measure will be particularly relevant for UK individuals who have moved abroad but retained property in the UK. Currently the…
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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