Blog

  • 18th February 2022

    Planning ahead for the next tax year

    As we reach the end of another tax year, here are a few last minute tips that might save you some tax before 5 April 2022.

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  • 15th February 2022

    The 7 questions to ask when creating a Local Authority Trading Company

    The consideration of the long-term goal for the LATCO is vital to its success and being clear on this question is key.

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  • 15th February 2022

    The most common pitfalls of Local Authority Trading Companies – Structure

    Over the course of the last few years most if not all local authorities have considered or created wholly owned Local Authority Trading Companies (LATCO’s).
    These LATCOs have normally been created to service specific needs within the community or to create a good investment vehicle which can return profits and dividends to the council in future.

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  • Photograph of Hugh Simpson
    9th February 2022

    Year-end tax planning for farmers and agricultural businesses

    The 2021 Harvest, although a little stop-start, generally saw better yields and combined with the current high prices could make for a fairly profitable year (before the bite of the higher fertiliser prices). There are various opportunities in the short window up to 5 April 2022 for farmers and farming businesses to take that may reduce the tax liabilities.

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  • Robin beadle
    21st January 2022

    Are you employing a carer?

    The number of elderly or infirm people who directly employ a care worker or personal assistant has been increasing in recent years. Whilst the funding may come from a variety of sources, the relationship between the service user and the care worker/assistant is predominantly one of employer and employee.

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  • 14th January 2022

    Carbon reporting for LATCOs

    Carbon reporting is not new, and its not just a LATCO requirement. However, what makes this topical is the increased focus on climate change and the expectations from a wide range of stakeholders to see these disclosures in the accounts.

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  • 23rd December 2021

    Tax implications of converting Farm buildings

    The RPA has commenced the distribution of the 2021 Basic Payment Scheme (BPS) payments, but it will not have escaped notice that the payments have decreased, thus bringing a stark reminder to agricultural businesses that the phasing out will undoubtedly leave what may be a significant hole in the business finances.

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  • Robin beadle
    10th December 2021

    Personalised Car Registrations

    Personalised numberplates continue to be sought after with some achieving stratospheric values. The most valuable registration sold in the UK was in excess of £518,000 and worldwide, the record is over £7.25m (Dubai). Consequently, HMRC have not been slow to seek tax.

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  • Robin beadle
    19th November 2021

    When Not To Claim Capital Allowances

    For tax purposes, the method of claiming asset depreciation is known as Capital Allowances (CAs). These operate on a reducing pool of value basis using HMRC-prescribed rates ranging from 2% to 100% depending on the asset (and tax year) involved.

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  • 18th November 2021

    Software tips – Banking Rules

    With harvest nearing an end and cultivations well underway, we appreciate that many have even less time to spend in the office than usual. That’s why, now more than ever, your accounting software needs to work for you. We’ve compiled a list of ten accounting software hints and tips covering a range of software options, designed to save you time in the office, at no extra expense to you. Here is tip number ten.

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