Howlader & Co Blog

Scary letter from Companies House

13th July 2012

================================================================ Companies House Annual return reminder - Urgent Action required. Dated 24 June 2012 Company Name xxxxx Ltd Company number XXXXXXX Your annual return is due for filing. It should be made up to 28 June 2012 and must be delivered to Companies House no later than 26 Jul 2012. Please note that you cannot file the annual return before the made up date unless more

Ken Livingstone and fiduciary duty of directors

2nd May 2012

In the interests of being topical we talk about fiduciary duty today. What is it? The most synonymous word is trust. With respect to any company, the directors have a fiduciary duty towards it. They are supposed to act in its best interests - in fact, to act in its best interests is a legal duty! We are not picking on more

Graduates applying to firms of chartered accountants

11th April 2012

As an expanding practice, we have needed a graduate trainee for a while now – hungry, capable and durable! We therefore advertised a single vacancy on the ICAEW website. How many CV’s did we receive? 25? 100? Much higher as it turns out. A staggering 252 CVs with cover letters – mostly through email but a handful through the old-fashioned postal more

Our budget views in blue: VAT

22nd March 2012

-          New threshold is £77k -          Hot food if meant for consumption whilst hot (as opposed to kept hot for hygiene reasons or as part of preparation) was always standard rated. Now it is standard rated whatever the reason (apart from fresh loaves of bread) This is huge news for take-aways. This is probably as a result of the failed more

Our budget views in blue: Company Car tax

22nd March 2012

These are becoming yet more expensive. From Apr 2015, the multiplier rises from (the current maximum of) 35% to 37% The following year, Diesel  cars will no longer be more expensive than petrol. Low carbon cars (<95g/km) are currently not chargeable! This ends from Apr 2015. Where it will start at 13% of the price, increasing to 15% the following year. more

Our budget views in blue: Employee share schemes

22nd March 2012

EMI’s allow employers to reward their best employees selectively (unlike approved share schemes which need to be offered to everyone). The limit of the value of underlying shares subject to EMI options has risen from £120k to £250k – and will now automatically carry Entrepreneurs relief (10%) on. Capital gains rather than the normal 28% rate.   This is an more

Our budget views in blue: Stamp Duty Land tax

22nd March 2012

With immediate effect SDLT rate of 7% will apply to residential property at over £2m A penalty rate  of 15% will apply to residential property purchased by a “non-natural” person (e.g.  company) after this limit. This is (one could argue) a fluffy version of the proposed the “mansion tax”. The overseas company loophole on stamp duty has been closed.