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 ...read more
Howlader & Co Blog
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 lucky enough to receive shares ...read more
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 ...read more
The UK is renowned for having one of the most complicated tax systems in the world. Once facet of this is VAT, or Value Added Tax, which is currently paid on the purchase of some items. An in-depth look at the rules – what is VAT-able and what isn’t – throws up some unusual findings. Products are Standard-rated, Zero-rated or Exempt ...read more
A common question we get asked by people is what travel expenses are tax deductible and what they can claim – such as whether they can claim their normal commute to work, hotel costs when on a business trip, those drinks at the airport bar. We’ve put together a short guide giving an outline to the can’s and can not’s ...read more
When you are giving a valuable gift, such as an antique, family heirloom, cash, shares, or more expensive asset such as a house, you don’t really expect to have to pay anything. Yet depending on the circumstances – what the asset is, how much it is worth – there may be a tax liability to pay, even if no cash ...read more
Thinking of forming a limited company but don’t know where to start? You aren’t the only one. Our team of experts have compiled a handy list of commonly-asked questions about anything and everything you need to know – including what your obligations are, how to change your details and what you need to pay. Don’t say we don’t look after you. Q: What ...read more
Fish and chips, bride and groom, knife and fork... some things just work better together. Whoever heard of Laurel without Hardy? Where would Torvill be without Dean? You get the picture. It is crucial you and your accountant work as a team too. We’ve heard countless stories about accountants who act like they are working against their clients – not with ...read more
Stamp duty – or to give it its official title Stamp Duty Land Tax – is a tax on the purchase of land and property. It is calculated as a percentage of the ‘chargeable consideration’ – anything of economic value paid by the purchaser – above various thresholds. The table below (taken from the HMRC site) outlines the thresholds for ...read more
Entrepreneurs Relief is a CGT relief available to taxpayers who sell or give away their businesses. Effectively, qualifying gains are taxed at 10%, rather than the normal rates (18%, 28%). It is available to the following people:
- Sole traders and partners selling the whole or part of their business.
- Company directors/employees selling a material stake in a trading company.
- Material stake means that the