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The benefits of a Limited Company
If you are thinking of starting a business, or are already self-employed, you may have considered running a Limited Company, indeed this may have been recommended to you. There are clear tax advantages in running a company as opposed to being self-employed as a sole trader or partnership, although recent sensational headlines from HMRC and…
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Burgis & Bullock wins major award
Burgis & Bullock Corporate Finance has been voted Regional Financial Advisory Firm of the Year in the ACQ Global Awards 2012. The corporate finance division of Burgis & Bullock has completed a string of deals over the past 12 months including advising on the sale of UK Solutions to a company formed by Penta Capital,…
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Charities, beware the VAT pitfalls of Service Level Agreements
Are you in the not for profit sector? Do you enter into service level agreements in order to receive “grant “income? If the answer to both these questions is yes then you need to read this. Charities should be cautious when entering into contracts. Contracts are governed by contract law and there can be severe…
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Could you make a ‘profit’ from the VAT flat-rate scheme?
If your business turns over less than £150,000 and is VAT registered or is looking to register for VAT then this scheme may benefit you. The standard way of accounting for VAT is to pay to HMRC VAT on sales and deduct input VAT on purchases. To simplify the calculation of this VAT HMRC offer…
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Window of Opportunity to pay backtax – HMRC offer ‘light touch’ for 2009/10 and prior
Higher rate taxpayers who have failed to submit tax returns are being offered the opportunity to come forward and pay up under a time-limited HM Revenue & Customs (HMRC) campaign. The Tax Return Initiative, launched on 3 July, is aimed specifically at people liable to pay tax at rates of 40% and above who have…
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Further clamp down on Tax Dodgers
Following the success of their “taskforce” initiatives in 2011, and rapidly on the back of the focus on Taxi firms and market traders in May, HMRC have this week announced that further new taskforces have been set-up to target tax evasion in a number of additional specific locations: • restaurants in South Wales, • hair and beauty…
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French holiday homes under attack
In a move certain to anger the 200,000+ Brits who own property in France, newly elected President François Hollande has announced he is set to significantly increase taxes on foreign-owned second homes. Tax on rental income in France is increasing from 20% to 35.5%, with the Capital Gains tax rate also rising from 19% to 34%. The increase…
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Pension Rules for Safeguarding Workers – the new law has come into effect
Workplace pensions reform law came into effect from 1 July 2012, marking the start of the new duties which will eventually see employers automatically enrol certain workers, and enrol those workers who choose to opt in, into pension schemes. The new law places requirements on employers not to: 1. induce workers to opt out or…
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Football League 1 HMRC 0
HMRC have long been at a disadvantage when dealing with football clubs. The existing ‘football creditor’ rule means that on the insolvency of a football club all football debts are paid first before others, such as HMRC, can get a look in. With footballers’ salaries with the top flight clubs at the level they are…
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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