VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes input tax...
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Making Tax Digital: Government delays introduction
Roll out of MTD is Delayed Tax expert Craig Walker comments on the latest twist to the government’s plans for Making Tax Digital (MTD). New timetable Ministers have announced a delay to the roll out of MTD to ensure businesses have more time to adapt to the changes....
The Election result: What are the tax implications?
The Election result: What are the tax implications? The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the...
Making Tax Digital: Full steam ahead
The public consultation on the Making Tax Digital (MTD) project has failed to change HMRC’s plans in any significant way. The timetable for implementation of MTD remains April 2018 and the income threshold for inclusion in the programme remains at £10,000. What is...
The Autumn Statement 2016 predictions
Autumn Statement predictions The Autumn Statement 2016 on Wednesday is set to be an important event. It will be the Chancellor’s first opportunity to outline his plans for taxes & spending in the wake of the Brexit vote. But what tax changes can we expect in the...
SME tax corner – Edition 5
Welcome to our fifth edition of the SME tax corner. There have been some big recent changes to a number of taxes that will bring both good and bad news to small businesses and their owners. In this month's SME tax corner, ahead of the 2016 Budget in a few weeks, we...
SME tax corner – the good, the bad & the Autumn Statement
Welcome to our fourth edition of the SME tax corner. In this month’s SME tax corner we look at what’s changed in the world of tax for small businesses. Good: R&D claims made easier for SMEs The recently published government plan to improve access to R&D...
SME tax corner – the good, the bad & the PAYE!
Welcome to our third edition of the SME tax corner. In this month's SME tax corner we look at what's changed in the world of tax for small businesses. Good: Minimising tax by spreading income around the family Owner-managed companies often seek to minimise the tax...
SME tax corner – the good, the bad & the chance
In this month's SME tax corner we look at what's changed in the world of tax for small businesses. Good: R&D claims from SMEs increase by 23% New figures released by HMRC earlier this month show that since the relief was launched in 2000 over 120,000 claims have...
Input Tax – Beware of the pitfalls!
VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes input tax...
Making Tax Digital: Government delays introduction
Roll out of MTD is Delayed Tax expert Craig Walker comments on the latest twist to the government’s plans for Making Tax Digital (MTD). New timetable Ministers have announced a delay to the roll out of MTD to ensure businesses have more time to adapt to the changes....
The Election result: What are the tax implications?
The Election result: What are the tax implications? The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the...