Sep 17 2019 Advisory fuel rates for company cars Categories: Taxation HMRC have published new company car advisory fuel rates, which take effect from 1 September 2019. The previous rates can also continue to be used for up to one month from the date the new rates apply. The rates only apply when you either: reimburse employees for business travel in their company cars or require more
Sep 13 2019 Helping our food & drink clients explore ‘untapped’ tax savings Categories: Food & DrinkTaxation Research and Development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation and we urge food and drink businesses to explore the potentially significant tax savings often associated with manufacturing or scientific companies. Our Taxperts have claimed over £0.5M R&D tax savings for 13 food and drink clients within the last more
Aug 29 2019 Electric vehicles – what are the benefits? Categories: TaxationTechnology Climate change is high on everyone’s agenda and with transport accounting for a quarter of the UK’s carbon emissions, interest in Electric Vehicles (EV) is increasing. We are frequently asked to outline the financial and tax benefits of choosing an EV over a conventional vehicle. In Scotland, there are benefits for individuals, and for businesses, more
Jul 26 2019 Xero package price freeze for our clients Categories: EQ AccountingMaking Tax Digital Xero have recently announced a planned increase to two of their monthly subscription plans. From 1 August 2019, the standard plan is increasing by £2.00 to £24 + VAT, and the premium plan by £2.50 to £30 + VAT – for new and existing UK customers. As Xero Platinum Partners, we have historically chosen to more
Jul 5 2019 Are you signed up for Making Tax Digital? Categories: EQ AccountingMaking Tax Digital Making Tax Digital (MTD) is now live and if you meet the criteria for mandatory submission of VAT returns, then you should have received a letter from HM Revenue & Customs confirming this. By now you should have checked that you have suitable accounting software or ‘bridging’ software, to enable you to submit your VAT more
Jun 11 2019 The easy transition to Making Tax Digital Categories: EQ AccountingMaking Tax Digital Following on from our previous article discussing bridging software, we have provided a detailed example of how bridging software can help with your Making Tax Digital (MTD) submissions below. We have a client who was using a manual cashbook to process their monthly VAT Return for their farm, and discussed the implications of MTD for their business. more
Jun 6 2019 Helping Palimpsest Book Production Ltd with their transition to Employee Ownership Categories: Taxation Our Employer Solutions Taxperts have written a series of articles about Employee Ownership Trusts (EOT) on our EQ Taxperts website, including how an EOT sale structure is implemented, how the shareholders dispose of their shares to a Trust for the benefit of the employees, and how the selling shareholders are paid for their shares. In more
May 28 2019 Bridging Software for Making Tax Digital Categories: EQ AccountingMaking Tax DigitalTaxation With the advent of Making Tax Digital (MTD), HMRC will be expecting all businesses caught within the scheme to submit VAT returns through software, rather than through the traditional Government Gateway. Most software providers have now released MTD compliant software and this may involve paying to upgrade existing systems or changing them completely. Whilst some more