Category Archives: Tax, Audit & Accounts

December 02, 2015

Management accounts – are they providing your business with useful management information?

Management accounts prepared for a business on a monthly or quarterly basis should be presented in a form useful to management to provide information about the business. If not providing additional management information, on their own, they do not serve any useful purpose. The management figures should be compared to a range of figures.
September 14, 2015

VAT – is it a van or a car?

It is important to understand whether a vehicle is a van or a car for the purposes of VAT input tax claims, VAT fuel scale charges and for assessment of tax due (by the employee) and NIC (by the employer) when provided as benefits in kind.
September 04, 2015

Tax considerations of a tube strike

Growing up in and around London you pick up on your local public transport links very quickly.  You also learn that whilst the timetable says the bus or tube journey will take 15 minutes, it is likely to be closer to 45 as 1 TFL minute usually translates to 3 earth minutes.
September 02, 2015

Thinking of selling shares back to your company?

I have been dealing with a number of share buybacks of ordinary shares within Limited companies recently and it has become apparent that it can cause significant amounts of confusion with shareholders. Share buybacks are when a company repurchases shares from its shareholders for an agreed price.
July 21, 2015

Subsidised Research and Development Expenditure

By now most companies are aware of the very generous tax credit available for expenditure incurred on research and development, recently increased to 230% from 1 April 2015.
July 13, 2015

Financial Instruments under FRS 102

I presented a seminar a few weeks ago on changes to UK GAAP, primarily focusing on FRS102.
July 10, 2015

Understanding your Financial Statements!

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July 03, 2015

How new UK GAAP can affect your business

Whilst the everyday pressures of running a business can be all consuming don’t assume that the upcoming  change in accounting standards is only a technical accounting exercise. New UK GAAP, applicable to December 2015 year ends for the first time, can affect a business’s tax and dividends, and even put its loans at risk.
May 07, 2015

Top of the Tax

We recently had the last Budget of the Coalition Government and the Parliamentary term has drawn to a close. The five year term has flashed by and it all began with the Emergency Budget back in June 2010.
April 21, 2015

Company size and audit thresholds – is change as good as a rest?

During a recent meeting to discuss a company’s accounting and tax requirements, I was advised that the company required an audit as it had increased turnover for the last year.
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