Blog

  • 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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  • Business valuations and Brexit implications
    6th September 2016

    Business valuations and Brexit implications

    Business valuations are subjective and are carried out on a hypothetical basis of a willing buyer and a willing seller.
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  • 1st September 2016

    Brexit and VAT

    Hypothetically, VAT could be abolished following Brexit as it was introduced as a condition of joining the EU. However, most people consider that an abolition of VAT is so unlikely that it can be discounted as a possibility as VAT rises just short of £120 billion per annum.
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  • 16th August 2016

    Financial Focus On...The Capital Allowance Sting

    Since the introduction of the Annual Investment Allowance (AIA), the level of Capital Allowances (CAs) on offer from the government has been, in tax terms, incredibly generous when viewed from a small business point of view.
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