Any Accountant in Practice today is aware of the digital agenda that’s a simple statement of fact. The fact is they would have to be operating their practice in a vacuum to not know because the wall of noise about…
Category: In Practice Blog
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Being in Practice means living with constant change and new threats: Nothing new there
Accountants in practice are pragmatic and as my old principle used to say “Know the value of £”. The landscape they operate in is subject to constant change based on annual budgets which effect taxation directly and are getting larger…
Every little tax break helps
Mark McLaughlin highlights an income tax exemption that could be more useful than some people might expect. The UK tax system is not known for its generosity when it comes to allowing tax-free benefits from an employment. Any such benefit…
Annual Allowance for Pensions and the tapering provisions
The annual allowance has applied from the tax year 2006-07 onwards. There have been various changes since then with the current allowance set at £40,000 for 2017-18. In basic terms an individual can make pension savings up to £40,000 and…
£95 million for local broadband
Autumn Budget 2017 launched a £190 million Challenge Fund to help roll out full-fibre to local areas – providing the fastest, most reliable broadband to more homes and businesses. Today’s Spring Statement 2018 has allocated the first wave of funding,…
Taxationweb Editor Lee Sharpe considers the Spring Statement in all its gory glory
Introduction The Chancellor issued his Spring Statement on 13 March 2018. This article focuses on the tax aspects of his Statement that seem likely to be of interest to OMBs and their advisers. From that perspective, the Statement was primarily…
Payment of CIS Tax
By: Robert W. Maas FCA, FTII, FIIT, TEP 8.31 Focus Tax is also deducted at source from payments to building industry sub-contractors. This has to be deducted (and in most cases accounted for electronically) by contractors and anyone else who…
VAT registration threshold exceeded. But not for long
My client has recently finished a large one-off contract, and while this combined with his other work has taken him over the registration limit, his normal level of sales is well below. Does he have to register if he has…
Input Vat on Cars Again
By CronorTaxwise “My client is considering replacing the cars used by the employees of his company, including the directors. I understand that a friend at his golf club has advised him that if the company buys electric cars the VAT…
Trust and Company Service Providers: What exactly is one?
Find out if you’re a trust or company service provider who needs to register with HM Revenue and Customs (HMRC) under Money Laundering Regulations. Contents Who should register Types of business that should register Who doesn’t need to register How to…