Category Archives: Tax, Audit & Accounts

November 22, 2016

100% Capital Allowances on Cars?

Capital Allowances and 100% deductions under the Annual Investment Allowance (AIA) have been with us for some time now and whilst you can claim AIA on most items of plant and machinery, AIA isn’t available on cars.
October 27, 2016

Cycle to Work Scheme

Now that the Olympics are all over and given the fantastic success team GB had in the Velodrome I thought I would get back on my bike after a rather long hiatus. Unfortunately the long lay off had not been too kind on my bike so it got me thinking about purchasing a new one.
October 10, 2016

Micro Entity Accounts

Following on from my colleague’s blog ‘The end of FRSSE’ which stated that for accounting periods beginning on or after 1 January 2016, the latest incarnation of FRSSE (2015), will no longer be available and companies will need to choose between FRS102 and FRS105 (Micro Entities), we will look at the options available for clients. . .
September 02, 2016

The end of FRSSE

After the seismic change to medium sized company’s financial statements with the move to FRS 102, the next change is the end of the road for FRSSE (Financial Reporting Standard for Smaller Entities).
August 30, 2016

Pension Auto Enrolment update

The number of businesses required to automatically enrol into a pension scheme is set to peak over the next 18 months, with an estimated 1.8 million small (5-49 staff) and micro (1-4 staff) employers now being required to take action.
August 18, 2016

Tax Compliance – Proposed Increased Fines and Regulations

HMRC are proposing the following changes which they would like to introduce over the next few years:- A sliding scale of penalties for the late filing of Tax Returns. 4% of outstanding tax for Tax Returns filed between 30 days and 6 months late.
July 15, 2016

Autumn Statement November 2015

Mr Osborne’s primary goal was to deliver the Spending Review, so there was a heavy emphasis on departmental expenditure and the £4,000bn expected total government spending over the next five years.
June 28, 2016

Solicitors Accounts Rules – The New Approach

In July 2015, the Solicitors Regulation Authority announced changes to the format of accountants’ reports for solicitor firms. These changes were approved by the Legal Services Board and take effect for accounting periods ending on or after 1 November 2015.
June 10, 2016

Pension reminder for 2016/17

It should be noted that the following changes to allowances have been introduced with effect from 6 April 2016:- Lifetime Allowance Tax efficient upper limit fell to £1m. If fund value and age determine that lifetime allowance protection is suitable, you can obtain fixed protection at the current level of £1.
May 12, 2016

HMRC – and your eBay account!

HMRC wants accommodation and auction sites such as Airbnb and eBay to hand over customer details in a bid to crack down on people who rent out a room or sell items online to make some extra cash.
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