Aug 30 2017 Know your employment status Categories: Healthcare It has become the industry norm that dental professionals, whether it be a dental associate, hygienist or therapist are treated as self employed for tax purposes, and rarely employed. You may ask yourself why this is the case and whether, with the recent legal rulings, this employment status will continue to be accepted by HM more
Aug 29 2017 Inheritance tax relief of Furnished Holiday Lets receives another blow Categories: LeisureTaxation A recent tax case before the First Tier Tribunal has poured further doubt on the availability of inheritance tax relief on properties let as furnished holiday accommodation (FHLs). Business Property Relief (BPR) can provide 100% relief against inheritance tax where a business activity is deemed to be “wholly or mainly trading”. If a business activity more
Aug 24 2017 ‘Appy to Pay Categories: Technology Although card payments are widely accepted in most retail outlets, there are some which still only accept cash due to the expense to the retailer; initial upfront costs plus ongoing charges. This can be a frustration for the customer and potentially lead to lost custom. To combat this, Worldpay have release an app, My Business more
Aug 17 2017 Criminal Finances Act 2017 Categories: Taxation The Criminal Finances Act 2017 will give law enforcement agencies and partners, further capabilities and powers to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism. From 30 September 2017, the Criminal Finances Act 2017 will – as well as a number of other new powers more
Aug 15 2017 Are you missing tax allowable business costs? Categories: Leisure Common deductible expenses within the Leisure industry include; advertising costs, telephone bills, heating and lighting costs, council tax, certain professional fees, general repairs, gardening costs, cleaning items, insurance, relevant membership subscriptions, crockery, cutlery, and bed linen to name a few. Don’t forget you may claim travel expenses of up to 45p per mile for travelling more
Aug 4 2017 Benefits of electric company cars Categories: TaxationTechnology Last week the UK government announced plans to ban the sale of new diesel and petrol cars and vans by 2040. This move will make electric vehicles more and more important in the coming years however is already of great benefit to many companies. Buying or leasing an electric vehicle as opposite to traditional petrol more
Jul 28 2017 Changes to requirement to register Persons of Significant Control (PSC) Categories: Professions To comply with new anti-money laundering regulations there have been changes to the requirement to notify Companies House of the people with significant control of an organisation. Previously only companies and LLP’s were required to notify and this was done annually on the Confirmation Statement (which replaced the Annual Return). The change now means Scottish more
Jul 19 2017 HMRC to use PAYE information to make in-year adjustments Categories: EQ AccountingTaxation From July 2017, HMRC will start to use PAYE information to make in-year adjustments to taxpayers tax codes in real-time. This will avoid both under and overpayments from occurring by the end of the tax year. Taxpayers will be notified when the right tax is not paid and, through their Personal Tax Account, HMRC will more