Blog

  • R&D tax credits - not just for men in white coats
    3rd October 2019

    R&D tax credits - not just for men in white coats

    Innovation has never been more conducive to maintaining and building competitive advantage and has seen the manufacturing sector become considerably more high-tech than is often realised. The UK Government recognises this and is using the tax system to encourage and support investment into British Manufacturing in several ways.
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  • Capital Allowances
    30th September 2019

    Capital Allowances

    Following the 2018 budget where it was announced that the Annual Investment Allowance (AIA) has been temporarily increased from £200,000 per year to £1,000,000, meaning more tax relief can be obtained on qualifying capital expenditure, now may be the time to make the investment into your business that you have been putting off.
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  • Financial Focus On Connect Data Gathering
    27th September 2019

    Financial Focus On Connect Data Gathering

    A few years ago, an Inspector of Taxes local to East Anglia had a hobby. He would frequent car boot sales and make a note of the car registration numbers. If the same vehicles turned up regularly, he would enquire as to whether those people could be deemed to be trading and from there whether any under-declared tax could be identified. Legend has it that while it may take him some time to make the connection, he was very good at his hobby. Like policemen, it could be argued that an Inspector of Taxes may never be off-duty.
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  • Tax Traps for Art Dealers and how to navigate them: stock
    18th September 2019

    Tax Traps for Art Dealers and how to navigate them: stock

    There are a number of traps which lie in wait for the dealer or gallery trying to navigate their way through the complex UK tax rules and avoid any unexpected and unwelcome tax bills along the way. As is so often the case, a little thought (and perhaps some paperwork) up front can help see off HMRC challenges.
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  • Why are Partnership Agreement's important in farming businesses?
    6th September 2019

    Why are Partnership Agreement's important in farming businesses?

    Many farming businesses do not have a formal Partnership Agreement, possibly because the partners are all family members, with the only evidence of the partnership being the annual accounts. Without a formal agreement the fall-back position is The Partnership Act 1890.
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