Latest Blogs

14th December 2012 Autumn Statement Tax Announcements

Chancellor helps UK business. In his 2012 Autumn Statement Chancellor George Osbourne announced a raft of tax measures to help UK businesses steer through the current recession: Pre Budget announcements and Whiting’s Commentary   Initiatives of particular help included: Increasing the Annual Investment Allowance (100% capital allowances on Plant in year of purchase) from £25,000 to £250,000 wef…

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13th December 2012 R&D Tax Relief

Maximise R&D Tax Relief Claims. With the ability to now claim 225% tax relief on eligible costs, those making such R&D claims will need no convincing of the merits of including as much as possible within the claim. Areas, often over-looked, where this claim can be increased include: Claiming relief on all reimbursed expenses paid…

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8th December 2012 VAT Returns

VAT Returns – Compulsory online filing has benefits It has now been nearly nine months since HM Revenue & Customs have stipulated that all VAT registered businesses should file their VAT returns online, apart from a number who are exempt. But some may say, what are the benefits of VAT online? 1. Security – all…

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1st October 2012 Audit Exemption

New audit exemption rules for small companies and for subsidiaries The government has recently announced changes to company law that allow many companies and limited liability partnerships more choice in deciding whether to have a statutory audit. The changes apply to financial years ending on or after 1 October 2012. Who is affected? Broadly, there…

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15th July 2012 Cashflow for Growth

Horizon 2020:  EU funding for ‘disruptive‘ SME’s. As part of the Horizon 2020 programme, the EU is selecting potentially disruptive businesses to invest in and support. SMEs with a strong growth potential and the ambition to become world-market leaders could receive up to €2.5 million in funding. The commission is looking for high growth, highly innovative…

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11th April 2012 Share Ownership Businesses

Selling Your Business on Retirement: There is an Alternative. You’ve spent a lifetime building up your business, the thought on retirement of selling out to your business rivals may be unpalatable and selling to you own management team may not be feasible; there is an alternative. Allowing your staff to take ownership through a phased transition…

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6th February 2012 Accounts Preparation

Accounts preparation, for internal and external reporting purposes, is our core disclipline. This process can begin from bringing in a bag of invoices and bank statements, or granting us access to a fully reconciled cloud hosted computerised book-keeping data set, or anywhere in between. Although the primary aim of statutory accounts is to report the…

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24th January 2012 Company Pre Year End Planning

Reviewing business financial performance just before the year end, then taking actions to influence how the year end results will look, should be a key element of the annual financial management routine. Although tax mitigation is usually the key aim of most company directors performing this task, they should not overlook the impression the accounts…

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24th January 2012 Top 10 Tax Elections to Minimise Tax

Examples of the most helpful and generous tax elections and claims include: s222(5a) TCGA 1992 (Nomination of main residence) This capital gains tax election, often referred to as ‘flipping’, enables taxpayers, who own and reside in more than one home, to inform HMRC which of these homes is their principal private residence. For those who…

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17th December 2019 Tax Free Benefits in Kind

Certain benefits in kind still remain entirely tax free, and can be used in flexible remuneration and/or salary sacrifice situations: Employer pension scheme contributions (up to £40,000 per employee per annum, plus potential ‘catch-up’ from previous 3 years. This assumes your personal income is not above £100k, you are not already drawing benefits from a…

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