Blog

  • 16th February 2015

    Financial Focus On...Fig Leaves to Fleeces

    From biblical times to the present day, clothing has been worn for more than one purpose at a time – for protection, for comfort, for modesty, as a uniform or because it is traditional. This inherent “duality of purpose” element of wearing clothing for more than one reason at a time is a cause celebre as far as HM Revenue & Customs (HMRC) is concerned. As a result the Inspector of Taxes will often seek to disallow or to tax the costs of clothing when they appear in a business’s accounts or as a tax claim.
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  • 11th February 2015

    The answer all charities are still waiting for: Gift or distribution?

    When it comes to the issue of direct taxation for charities, this can be a minefield for charitable organisations to understand, and then to arrange their affairs so that they are compliant and not exposed to tax.
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  • 6th February 2015

    Time is running out for the 11,000 companies who may have a claim for a share of over £2bn

    The Financial Conduct Authority (FCA ) has set a deadline of 31 March 2015 by which time those who may be eligible for redress for mis-sold financial hedging products under the Interest Rate Hedging Products (IRHP) scheme must register their intention to be included within the review process.
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  • 2nd February 2015

    Time to take advantage of Entrepreneurs Relief

    Now that we have passed the 31 January deadline for tax returns and we accountants are thinking of taking a breather, it may well be time to look at our owner managed clients who, for a variety of reasons may be thinking about ceasing to trade and returning funds to shareholders.
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  • 27th January 2015

    Financial Focus On... Cheap motoring for young drivers

    The costs of insuring a car for a young driver these days are extremely high. Seen as high risk by the insurance companies, many insurance premiums can top £1,200 per year, even on small cars. As a result, these days, motoring for young drivers often has to be subsidised by their parents.
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