Changes are being made that will affect VAT on B2C ‘e-services’. For the uninitiated here are some services that will be affected:- Telecoms (telephone, fax, internet access) Broadcasting (radio, TV, live internet broadcasts) E-services (video on demand, downloads of music and apps, online gaming, e-books, software and online auctions) (A more extensive list can be […]
From 1 January 2015, companies filing their financial statements currently according to UK Generally Accepted Accounting Practice will see several changes implemented, in the form of FRS 102. We’ve set out the key changes to financial statements below, so you’re aware of them. Cash Flow Statement Currently, only 90% subsidiaries are exempt from preparing a […]
There are two normal ways to extract funds from a company – dividends, payable from profits, and salary, paid through a PAYE scheme. However, for limited companies with significant cash balances available, there is another tax-efficient option, allowing the shareholders to have funds returned to them potentially tax-free. The catch? It’s only available on the […]
The reduction in employers’ National Insurance Contributions (NICs) due to come into force next month means there may never be a cheaper time to bring fresh blood into your business – particularly the blood of young’uns. So, with a reduction in NICs for under 21s and youth unemployment at approximately 20% – much higher than […]
Most businesses incur expenses and losses while they are getting off the ground. Losing money can be a bit of a reality check at times but if you know the tax regulations it’s not all bad news. Any losses you make can be used to offset other profits in order to reduce your corporation tax. […]
The number of Brits affected by inheritance tax is set to double to 42,000 by the year 2016-17 according to experts, but it seems worryingly few of us know much about the tax at all. We’re here to put that right. Crowd pleasers to a fault, we’ve put together this guide to help you understand […]
If you are filing your tax return be warned: there are currently plenty of fraudsters trying to con you out of your hard-earned cash. There seem to be more than ever this year and we’ve received a number of warnings at Howlader & Co as the submission deadline looms. For those who have managed to […]
British chef Sat Bains successfully claimed research and development tax credits last week (£) – and that got us thinking about the implications for all you hard working guys and gals out there. The double Michelin-star chef secured a groundbreaking pay-off due to the experimentation and innovation in the development kitchen at his Nottingham restaurant. Until […]
The financial sector knew that it was going to be popular, but just not quite how popular the Royal Mail privatisation share issue would be. Last week, hundreds of thousands of people became new shareholders – having a stake in an entity that has been in existence for almost 500 years. For those that were […]
After you’ve agreed to use a certified accountant, there are various administrative steps that need to be done to let HMRC know, and so that the accountant can do their job to the best of their ability. eir ability. We need to get various codes and reference numbers from you, and when we ask for […]