Accountancy Blog

Our accountancy blog is updated monthly with our opinions on a variety of issues affecting our clients and the industry sectors we cover.

Avoid the Cost of HMRC Investigation

Tax investigations by HMRC have been on the rise for a number of years. Anyone can be selected for an investigation by HMRC, whether you are a business, a director or an individual taxpayer. What does an investigation involve and why does it happen? Put simply, a tax investigation is when HMRC decides to take […]

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Proposed Changes Ahead for Inheritance Tax

If you intend to pass on money or assets following your death, your heirs could face an inheritance tax (IHT) bill of up to 40% of your estate. If the value of your estate is below the Nil Rate Band (NRB) of £325,000 or you leave everything above the threshold to your spouse or civil […]

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Company Cars – is now the Time to Switch to Electric?

Changes in tax legislation later this year mean that battery electric vehicles (BEV) and some plug-in hybrid electric vehicles (PHEV) will soon be exempt from company car tax. The new rules come into force from 6 April 2020. This may mean that buying ‘electric’ makes a company car purchase more attractive. From April 2020, the […]

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The £40,000 Value of Financial Advice

Financial advice is often considered to be a luxury, taken up by those with sizeable wealth. However, research suggests that actively seeking financial advice can play a valuable role in increasing the assets of those that seek advice, regardless of their initial financial status¹. The study confirmed that those who received financial advice in the […]

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Do you need to complete a self assessment tax return? What are the penalties for late submission?

The deadline for submitting your 2018/19 self assessment tax return is midnight on 31 January 2020. You need to complete a tax return if you: or your partner received Child Benefit and either of you have an annual income of more than £50,000 received more than £2,500 in other untaxed income, for example: – from […]

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News

Coronavirus/COVID-19: Update 5 June 2020

After the notable announcement last week about the Job Retention Scheme and Self-Employment Income Support Scheme, the more recent financial updates in relation to COVID-19 are likely to have less of an impact and possibly affect fewer people. Nonetheless, they are still important to know and we appreciate if they help just one person are […]


Blog

Avoid the Cost of HMRC Investigation

Tax investigations by HMRC have been on the rise for a number of years. Anyone can be selected for an investigation by HMRC, whether you are a business, a director or an individual taxpayer. What does an investigation involve and why does it happen? Put simply, a tax investigation is when HMRC decides to take […]