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Tax man gets tough!
VAT-registered taxpayers who are behind in submitting their returns and payments are being offered a time-limited opportunity to put their affairs in order. Businesses have until 28 February 2013 to...
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R&D Tax Credits, a warning
The current regime of claiming for enhanced credits against corporation tax is a generous one with up to 225% relief available for qualifying expenditure. In fact with HMRC tasked with approving these...
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VAT Penalty on Incorporation?
Have you recently changed legal entity, for example by incorporating a sole proprietorship or partnership ? Or has a sole proprietor taken someone into partnership? If you have, be sure to advise H M...
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Are small businesses targeted by HMRC?
HMRC would argue that all businesses have their taxation affairs scrutinised equally and fairly, but a cursory glance at some recent statistics make us wonder. In 2011 tax inspectors raided 499 homes...
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Coventry City FC head towards Administration
The long running dispute between the football club and the owners of the Ricoh Arena (ACL) over an alleged £1.3 Million in rent arrears has come to a head this week with ACL petitioning the High Court...
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Can I borrow money from my company pension scheme?
Many small companies continue to find it hard to obtain finance and although interest rates are at an all-time low, lending rates (where you can find them) remain stubbornly high so it would useful to...
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Small Business loses out
Recent research has concluded that small and medium sized enterprises (SMEs) in the UK are losing out on up to £122 billion in sales revenue by failing to keep on top of their marketing. The research,...
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Taxation of Partnerships and LLPs
Finally HM Revenue & Customs (HMRC) have published their consultation document on the taxation of partnerships and LLPs. For some time it has been rumored that HMRC wanted a ‘root and branch’...
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HMRC win dividend waiver case
We highlighted in this blog as long ago as 2012 HMRC’s increasingly aggressive stance against what has long been held as legitimate tax planning by smaller companies. In a recent ruling (January 6,...
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Budget 2014 – Business Tax
Corporation tax rates The main rate of corporation tax will be 21% from 1 April 2014. The current rate is 23%. From 1 April 2015 the main rate of corporation tax will be reduced to 20% and unified...
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Off-payroll working rules – Changes you need to be aware of
From April 2020, new rules come into affect to bring the off-payroll regulations for large and medium size otganisations in line with the public sector. The changes will only affect you if you have, or...
View ArticleOff-payroll working (IR35) – Position as at February 2020
What is IR35 and what is changing? It has always been the responsibility of any company engaging an individual directly to determine the employment status of that individual. Where an employment...
View ArticleHMRC delay IR35 Implementation
Despite the Chancellor confirming only last Wednesday that the off payroll working rules for the private sector would come into force from the 1 April 2020, Chief Secretary to the Treasury Stephen...
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Can I pay a dividend during Covid-19?
Paying dividends in lieu of salary is common (and tax efficient) for the vast majority of SME businesses, however directors considering whether to pay a dividend during these current turbulent times...
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BLOG: IR35 reform still set to be introduced in 2021 – despite impact of...
Anne Rose is Head of Tax at Burgis & Bullock: The planned reform of off-payroll working rules, more commonly known as IR35, has been hitting headlines again recently. MPs voted against an amendment...
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How your business can thrive even in a recession
The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean massive layoffs, jobs becoming harder to find, and wages frozen, which means...
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Fund your business with CAMPARI and ICE
If you’ve ever wondered how lenders look at funding applications you may be suprised to learn that many of them use the CAMPARI method. No I’m not talking about the bitter drink famously advertised by...
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Upsizing or downsizing? We can help with the forecasting
Are you looking to either scale up or downsize, your business? We’ll help you review your existing business plan, run scenarios and forecasts, and look at the most appropriate strategy for your...
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Stand out in the job market with a share option scheme
By Simon Chapman, Partner Simon Chapman In recent weeks and months there has been a significant amount of publicity regarding staff shortages in key sectors. One way for businesses to attract, retain...
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Businesses need stability to plan for rising costs
The UK’s new Chancellor Jeremy Hunt has overturned nearly all of the financial measures announced by his predecessor Kwasi Kwarteng less than a month ago. Sean Farnell, Partner at Burgis &...
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