by David Winfield | Jun 9, 2020 | Accounting News, Uncategorized
Tax treatment of local authority grants Under the coronavirus special measures, local authorities can help businesses with Small Business Grant Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF) payments. If your business receives such a grant must it...
by David Winfield | May 4, 2020 | Accounting News, Uncategorized
A business associate recently told you that his accountant changed his financial account period in order to delay tax liability. Is this something worth considering for your company? Changing dates We’ve previously explained that altering the length of an accounting...
by David Winfield | Mar 9, 2020 | Accounting News, Uncategorized
Return of the two-tier NI threshold New rates. The government has announced the rates and thresholds for NI contributions for 2020/21. There’s nothing startling about them with one important exception; there will be two NI earnings thresholds (ETs). While in 2017 the...
by David Winfield | Jan 7, 2020 | Accounting News, Uncategorized
Business entertainment Income tax, corporation tax and VAT legislation each contain a similar rule which blocks a tax deduction for “business entertainment” costs. This includes hospitality of any sort. A common example is where a business provides food and drink for...
by David Winfield | Mar 11, 2019 | Accounting News, Uncategorized
Making tax digital for VAT legislation requires you to have “digital links” between your financial data and the quarterly VAT reports. What changes might you need to make to your record keeping to achieve this? Why digital links? VAT law offers no explanation of what...
by David Winfield | Nov 16, 2018 | Accounting News, Uncategorized
As usual, the more interesting Budget changes didn’t feature in the Chancellor’s speech but in the documents produced by HMRC. What important changes might you have overlooked? Hidden agenda. These days the Budget speech is more of a media show than an explanation of...
