Is this a good time to invest
October 16, 2018

This article considers the question: should businesses invest in new equipment or other long-term capital acquisitions at this time?

In truth, no one knows what the impact of the Brexit will be? Brexiteers believe that the floodgates...

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Exclusivity and tax relief
October 11, 2018

In order to qualify as a deduction for tax purposes we have to demonstrate that the expenditure was incurred “wholly and exclusively” for the purposes of our business or employment.

We will also need to consider a further...

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Importing goods from outside the EU
October 9, 2018

Although the Brexit issue is not yet decided it may be salutary for businesses to consider the changes they will need to face if we depart with a no-deal Brexit. We have touched on these issues in past articles posted on this blog, but today we...

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Did your goat eat your accounts?
October 4, 2018

Companies House have published a list of bizarre excuses for the late filing of their statutory accounts. They include:

  • “goats ate my accounts”
  • “I found my wife in the bath with my...

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Tax Diary September/October 2019
October 2, 2018

1 October 2018 - Due date for Corporation Tax due for the year ended 31 December 2017.

19 October 2018 - PAYE and NIC deductions due for month ended 5 October 2018. (If you pay your tax electronically the due date is 22 October...

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Passport issues if a no-deal Brexit
October 2, 2018

Guidance on the use of a British passport to travel abroad after 29 March 2019, if there is a “no-deal” Brexit, was issued by government last month. The pertinent facts are reproduced below:

After 29 March 2019, if...

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What is a reasonable excuse
October 2, 2018

HMRC is still required to obtain certain returns from you even if there is no income or tax to declare. Failure to submit will likely trigger late filing penalties and unfortunately, pleading ignorance of your obligations to file...

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Invoice discounting with larger customers
October 2, 2018

Suppliers who sell goods and services to larger concerns often find that the terms of their supply, limits or bans the process of factoring the debts to release funds into cash flow.

Cynically, this could be seen as a method these...

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About turn, you can use spreadsheets
October 2, 2018

HMRC has about-faced regarding the ban on using spreadsheets to work out your VAT return data from 1 April 2019, when the new requirement to file VAT returns using Making Tax Digital (MTD) format is introduced.

Bowing to pressure from...

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Not so trivial
October 2, 2018

Options for reducing the impact of taxation on our earnings are somewhat limited. That said, there are still opportunities that will keep you the right side of the law and will increase the take home pay of employees.

One such...

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