Client entertaining is a common expense that businesses incur, but the vast majority do not know realise the tax issues arising from this type of expenditure. It is important to get these correct – on the most basic level so that you are fully aware of the costs of entertaining and because if you . . . → Read More: Client Entertaining – VAT, Corporation Tax and National Insurance implications
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HMRC have indicated that they are considering reclassifying self-employed construction workers as employed. They have actually launched a consultation process with interested parties. Reclassified workers would be taxed through the PAYE system regardless of the length or brevity of each employment assignment. HMRC are convinced that a significant number of construction workers are taxed . . . → Read More: Are you a Constructor Subcontractor? If so, beware! In order to qualify for Child Tax Credits (CTC’s) the person responsible for taking care of your children (child) needs to be registered with the Childcare Approval Scheme. From 18 July 2009 the Childcare Approval Scheme will no longer exist and all childcare providers approved under this scheme (for example a nanny or foster . . . → Read More: Changes to the Childcare Approval Scheme Innovative software firm Imbercal today announced a new initiative to join with Accountants across the Country. Accountants are the most important and valuable business advisor a company can have, and we think it’s important to give our customers easy access to the best Accountants in their area. Paul Sheeran, Sales Director of Imbercal said . . . → Read More: Imbercal announces new links with Accountants There was a great deal of press speculation, prior to the announcements made on 24th November 2008 that the Chancellor of the Exchequer was to unleash a number of tax cuts. The major, predicted cut to VAT was confirmed, as was the introduction of a 45% income tax rate for high earners . . . → Read More: Pre Budget Report 2008 – What you need to know In the current climate, the stock markets have plummeted and many people have seen their pension funds value fall significantly, but what can be done to mitigate this? Pay more in This may seem to be a ludicrous suggestion given the position of the stock markets, but investing now means that you are . . . → Read More: Can your business survive the economic downturn? It is becoming more and more common that H.M. Revenue & Customs are carrying out Employer Compliance Reviews to ensure that businesses are correctly dealing with Employment Taxes, and where sub-contractors are used, to ensure that the new regime is being correctly operated. This will include a comprehensive review as to the status of . . . → Read More: Employee or Subcontractor? Are you compliant? Can you use your pension fund? There is currently a window of opportunity to take up a scheme for persons who shall reach the age of 50 prior to 5th April 2010. As from 6th April 2010, you must have reached the age of 55 years old in order to benefit . . . → Read More: Raising Capital The Chancellor announced in his Pre- Budget Report that Capital Gains Tax was to be reformed as from 6th April 2008, with the abolition of Taper Relief. This may have a significant impact on any gains that crystallise, which could be mitigated. The proposed new rules would mean that everybody will pay a flat . . . → Read More: New Capital Gains Tax Rules- Are you affected? |
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