Blog

  • 7th October 2016

    Variations on a theme…

    As we await the new Chancellor’s first Autumn Statement, it might be worth taking note of a comment slipped into his predecessor’s last one.
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  • 26th September 2016

    Making Tax Digital – delayed, but not forgotten!

    For those in the profession, the start date of April 2018 for the first businesses to come within Making Tax Digital (MTD) has always seemed overly ambitious, and doomed to failure or delay. The Government and HMRC are determined that it will succeed, but unsurprisingly the delays are beginning to creep in.
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  • 16th September 2016

    The business of ‘business type’

    Most people in business know what ‘type’ of business they have, mainly one of three common structures; Sole trader, Partnership or a Limited Company (there are many others but lets leave those for another day). However, there is normally confusion of what the tax implications and benefits are with each.
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  • 14th September 2016

    The Common Reporting Standard: Reporting Requirements for Charities

    The issue of international tax evasion has proved a hot topic over the last few years. The “Panama Papers” scandal earlier this year uncovered a great amount of secrecy when it comes to assets and accounts ‘hidden’ across the world from the tax authorities.
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  • 14th September 2016

    Financial Focus On...When Not To Claim

    Capital Allowances (CAs) are purely a tax invention used to standardise the rates for depreciation of assets used in business. To give a “true and fair” picture of an individual business’s profitability, the rate of depreciation of an asset is tuned to its particular usage. However, to standardise the rate of “depreciation” for tax purposes and avoid abuse, depreciation is not an allowable deduction against business profits and CAs are used instead.
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