Today is Valentine’s Day and for many around the world, it is a special time to show their love and affection for others. Some might even be planning on getting…

…mistake of showing income after deduction of agent’s commission and VAT. Gross income, before deductions, should always be shown, and a separate claim made for the commission and VAT costs….

Simon Mott-Cowan, audit partner here at HW Fisher comments in the BBC Business news. Read the full article here: https://www.bbc.co.uk/news/business-47074971…

…be best to lodge a claim. Looking on https://www.gov.uk?​ may help. Authors who operate through limited companies cannot claim under this scheme although they may be able to claim a…

…months from commencement to 5 April 2019.Those who began their activities after 5 April 2019 will not be eligible for the scheme. You cannot apply for the scheme yet. HMRC…

…active role in mentoring and managing talent within the company and guides trainees through three year training contracts, setting objectives and supporting with career planning. Paul runs a large portfolio…

…Colorado-based outdoor products company. Mayfly subsidiaries operate under various brand names including Abel®, Ross Reels® and Airflo®. Combined, these businesses are the recipients of more industry “Awards in Excellence” for…

…days when pre-nuptial agreements (or pre-nups) were just the domain of the rich and famous – more and more millennials are seeing the benefit of setting out their finances up…

…entrepreneurial businesses and look forward to working with the team to help clients navigate the complex and ever-changing UK and international corporate tax environment.” For more information please contact hwfisher@cognitomedia.com….

…at HW Fisher is extremely proud to welcome Muneeza, Adam, Simon and Lily as Partners today. They have shown exemplary work and commitment in their time at HW Fisher and…

…primarily sold through the sgs-engineering.com website, and distribution is managed through the newly built warehouse in Derby, England. The company has a workforce of about 50 employees and founder Andrew…

…China, Hong Kong, Vietnam, Singapore, India, and Russia. Readers may write to the Head of UK and Ireland Business Development, and market entry advisor, Maria Kotova at UK.Ireland@dezshira.com    …

…and six months and involves the following government authorities: Ministry of Commerce (MOFCOM) and its local branches; State Administration for Market Regulation (SAMR) and its local branches; State Administration of…

…less than £10 million. Even if a company is not eligible for entrepreneur’s relief, because, for example, it is deemed to be a property or simple investment vehicle, a members…

…for taxes in a streamlined process jointly created by HMRC and Companies House. From 2018 most businesses, the self-employed and landlords will start updating HMRC quarterly for income tax and…

…should be a distinction between trustees’ compliance with the basic requirements of the code, and their values and behaviours, which, the Charity Commission states are key to earning public trust….

…communities. From a brand perspective, customers have increasingly high expectations of companies to clearly articulate their purpose and values, as well as their approach towards tackling societal issues and crucially,…

…urgent simplification of the tax system and to minimise changes that will add complexity to our byzantine tax code. As entrepreneurs grapple with the impacts of the Coronavirus and preparations…

…will offer more attractive terms for both businesses applying for new facilities and lenders, with the aim of supporting the continued provision of finance to Small and Medium size UK…

…points are as follows: The deferral of most VAT payments due between 20 March and 30 June 2020; This therefore includes the VAT Return payments due for the periods ended…

…per month. The grant currently covers three months’ profits, i.e. a maximum of . For example: Profit 2016/17 Profit 2017/18 Profit 2018/19 Average annual profit , therefore eligible for the…

…4th May for applications. The scheme will be made available through a network of accredited lenders. Key Terms Lenders will have a 100% Government backed guarantee for the loan. The…

…Health Trusts eventually got this VAT back, care homes generally make exempt supplies and cannot recover any VAT incurred. Should you have any questions, please do not hesitate to contact…

…and Pizza Express. But it is the independents that have the greater day-to-day fight for survival who sadly won’t benefit from the scheme.” If you have any questions on the…

…the normal rules. Example So, for example, a sub-contractor builds a brick wall for another contractor and charges £1,000 for that service. From 1st March 2021, the sub-contractor issues an…

…on building a stronger long term view. Furlough cannot last forever, and neither will CBILS. In reality, we have 2.5 months left of business this year and more questions than…

…for expense claims, overtime and other accounting and payroll functions? Do you compare actual to budgeted expenditure to identify potential discrepancies? By revisiting these core questions, while reflecting on a…

…year will no longer have to complete Inheritance Tax forms when probate or confirmation is required. When will it change: These changes will come into effect from 1 January 2022….

…Fortune 500 CEOs believe their companies should “mainly focus on making profits and not be distracted by social goals”. Previously, investors and financiers divided their world into two distinct buckets,…

…and are you eligible?   SEISS 4 explained A fourth SEISS grant is available through the government’s website and covers 1 February 2021 to 30 April 2021. The grant is…

…penalties and even the underpaid income tax and NIC. Reasonable care would include the following:- Accurately completing and applying the results of CEST Applying HMRC guidance on determining status Seeking…

…turnover figures and compare them for you. The claims service will then advise if you can claim the higher or lower grant amount. If your turnover is down by 30%…

…VAT refund scheme. HMRC imposed a deadline of 31 December 2020 for these businesses to submit their claims for refunds for 2019 – 2020, but due to delays as a…

…after the end of the tax year and for companies, within 12 months of the accounting year end. The enquiry window for HMRC then runs for a full 12 months…

…the profession and has gone or is going through it. This gave me a lot more comfort and understanding which enabled me to ensure it was the right role for…

…for VAT in one EU country and account for VAT on all B2C transactions, with a value of less than 150 Euros, on one monthly pan-EU VAT Return. At the…

…are the loan repayments? The maximum length of the facility depends on the type of finance you apply for and will be: Up to 3 years for overdrafts and invoice…

…this can provide for some interesting reading. For example, the amounts of tax undeclared and ensuing penalty can be fairly substantial. A motor company in Birmingham received the red light…

…tax planning strategies. However, some recognition of risk/reward for longer term holding of assets may be reflected, for example re-introduction of some kind of taper relief type adjustment for capital…

…interpreted more broadly than training to pass exams or qualifying for a profession, and can include general instruction for developing a student’s abilities; while a school can be conceptualised as…

…You will also need to get permission from the freeholder or managing agent, even if you own part of the freehold via a company. In addition to the above requirements,…

…ensure that you avoid becoming jointly and severally liable for the non-compliance of others? Further information For further information or to discuss the way forward, please contact Gerry Myton or…

…impact created is actually captured and, beyond that, communicated to the target existing and potential audiences? And how can impact be maximised through building win-win strategic partnerships between charities and…

Unions 21 is a forum for unions to come together to explore our shared challenges and to look at practical projects and ideas to build tomorrow’s unions. Front and centre…

…and that the data is available for proper oversight, for example, areas such as dropout rates. Financial information is relatively easy to see and understand, but some of the student…

…The reports, captured and published in Green Plans, can celebrate and share successes to spread good practice and counter any fatalism, including highlighting how practical changes can save money and…

…of its own losses and the taxable profits of the claimant company, regardless of the other profits or losses of the surrendering company. For other non-capital losses, the surrendering company…

…burden is a pragmatic – rather than political – point. Companies are increasingly mobile; able and willing to up sticks and relocate to another jurisdiction if they can benefit from…

…This scheme wasn’t universal and was only compulsory for manual and other low-paid workers. It was the 1942 Beveridge Report, ‘Social Insurance and Allied Services’, that marked a major break…

…fit. However it’s worth remembering that the UK wouldn’t have a completely free hand. As a member of the World Trade Organisation, Britain would still have to comply with WTO…

…too understand and abide by the company’s policies. Practical advice for businesses Given that no business owner, large or small, wants to be sentenced to 10 years in prison for…

…the economy by enabling people to spend more on goods and services. The idea has been around for a while. Next year, Finland and the city of Utrecht are scheduled…

…and his manifesto plans for international trade included cancellation of the Trans-Pacific Partnership. And then there’s China. He had pledged to force China and other countries to pay for the…

…taxable income for the taxpayer, while driving up levels of compliance through more accurate reporting. As HMRC sees it, this is a move away from the “needlessly bureaucratic form filling”…

Are you eligible for research and development credits? The Government provides significant tax benefits to cover research and development. If your company is taking a risk innovating, improving or developing…

…Business Taskforce, backed by the Institute of Chartered Accountants in England and a dozen other organisations, is calling for exports to be protected and a review of the funding for…

…learn how credit cards work, and how interest and charges are calculated, and how they can mount up if the balance isn’t cleared each month. When it comes to borrowing…

…and parking. Mileage allowances are claimed as expenses in the self-assessment tax return. Capital allowances are shown separately. There are currently boxes for AIA and WDA included separately on the…

…them in their Annual Accounts. Other measures announced include free sanitary products for secondary schools and colleges in England from the start of the next school year, and an additional…

…adviser. Pension Tax Relief goes up The only major change that does come into force in the next tax year are the larger increases in the personal allowance and basic…

…of disruption caused by COVID-19, which are outlined below. Support for businesses who are paying sick pay to employees The Government will bring forward legislation to allow small- and medium-sized…

…always practical for the employer to purchase and provide the equipment an employee needs, and the rules do not allow for an employer to reimburse an employee for equipment that…

…the UK, and those UK companies with licenses only for the UK will lose access to the major EU markets. Interestingly, the vast majority of UK licenses are for the…

…and backing free school meals for those who need it most. Our clients and friends in the industry have also had to push the boundaries of creativity, finding new ways…

…back of a completely decimated Christmas and New Year trading period. “However, more support is needed. The key for survival for these businesses also lies in negotiating with their landlords…

…provides some tax relief on charitable giving. Don’t forget to make a copy of your completed tax return and keep a proof of postage, on file. If you are employed…

…out a property, including through Airbnb.” Confused about whether you need to file? Self-employment continues to rise. However, it’s not just the self-employed who have to complete their self-assessment tax…

…format. However, it’s vital to be able to understand the data to use it to maximum effect. Data mining for completeness of reporting and potential issues forms a big part…

…surcharge for overseas buyers. The UK needs to remain an attractive option for overseas buyers and attract foreign capital to our shores.   Start thinking about life after furlough We…

…that an individual can’t give away their family home and continue to live there rent free, and avoid or reduce their Inheritance Tax liability, but what about a bank account?…

…will apply for the trade of goods within NI, and between NI and the EU. The movement of goods between NI and the EU will follow EU VAT legislation, and…

…Customs declarations are required for imports and exports and there may be checks on the goods at the border. Currently, submission of customs declarations on imports of non-controlled goods into…

…months is that some of our campaigning work comes to fruition. For example, we are lobbying for guaranteed royalties for musicians from music streaming and we have some big opportunities…

…Swifter approval being given to requests for Customs authorisations such as warehousing, Inward and Outward Processing; and The introduction of freeports and the potential economic benefits around tariffs and employment/property…

…clause to surrender its lease with an end date in 2014. In 2013, HGPL applied for planning permission to develop the site. Planning consent was granted and allowed for the…

…a 30% income tax reducer for investments made in qualifying EIS companies. For example, if you invest £100 in a qualifying company, HMRC will reduce your tax bill by £30….

…low and the constant U-turns make it almost impossible for businesses to plan. Government must restore credibility and confidence by committing to changes announced today. “As we move forwards, The…

…allows for safe exchange of data digitally. There are a number of differences between CHIEF and CDS, which we have summarised below. CHIEF CDS Declaration Completion Requirements SAD form –…

…investments and dividends foreign income Make sure to avoid these common mistakes Allow plenty of time. Gathering paperwork takes longer than you think! This includes your P60 which will confirm…

It’s Valentine’s Day this week and HW Fisher outlines what Marriage Tax Allowance is, how it works and how you can claim it, plus other tax breaks available to married…

…is a free trade agreement between 11 countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam and now the UK. Commenting on the news,…

…that the Australian company’s financial statements will need to be filed and available for public inspection. This is a significant difference compared to a subsidiary and often influences the decision…

…businesses whose stock is publicly traded, usually by assessing certain market multiples of these comparable companies. Under the multiples method, a group of comparable publicly-traded companies are selected and market…

…therefore necessary for such structures to be funded by someone other than the parents, a grandparent for example. There are a number of different types of trust structure available so…

…It is available to nationals of Commonwealth countries aged 30 or under (35 for nationals of New Zealand). This visa is usually granted for 2 years and comes with the…