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.

Extra Stamp Duty for Second Homes

The Chancellor announced in his Autumn Statement in November 2015 that he would be introducing new rates of Stamp Duty Land Tax (SDLT) on purchases of buy to let properties or second homes. At the end of December the government launched a consultation paper which revealed the proposed details of the regime. SDLT does not […]

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Is a ‘Zero Hours Contract’ ever appropriate?

‘Zero hours contracts’ have been in the news recently, with employers being criticised for using these contracts inappropriately and, in some cases, using exclusivity clauses. What is a Zero Hours Contract? Generally speaking, a zero hours contract the employer does not guarantee the individual any hours of work. The employer offers the individual work when […]

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Reduced Lifetime Allowance – is your pension in danger of being affected?

From April 2016, the lifetime allowance will fall from £1.25 million to £1 million. The lifetime allowance is the maximum that can be built up in a pension over a working life and receive tax relief. Any savings in excess of the lifetime allowance will be subject to a tax charge of up to 55 […]

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Initial Interpretation of Budget 2016

Arguably, it is likely the surprise ‘Sugar Tax’ will be the most talked about initiative in the most recent budget but below are what we believe to be the summarised highlights from the budget delivered by Chancellor George Osborne on 16 March 2016. Much of the detail is still to be set out in the […]

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Its not just brown envelopes which interest HMRC now – ATED

ATED – the background The acronym ATED stands for Annual Tax on Enveloped Dwellings. This is an annual tax levied on residential dwellings worth more than a certain value that are owned, wholly or partly, by a non-natural person (company, partnership with a corporate partner or collective investment scheme). It was introduced in April 2013 […]

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News

Coronavirus/COVID-19: Latest Update 3 July 2020 – Summary of Finance and Business Measures

This article summarises the business support measures the UK and Scottish governments, along with other NGBs and organisations have introduced as a result of the COVID-19 outbreak. Last updated 3 July: CJRS how to adjust for overclaims or underclaims made in error;  SEISS claims for second grant open 17 August For each measure we have […]


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VAT Domestic Reverse Charge for the Construction Industry – What You Need to Know

HMRC have announced that the introduction of the VAT Domestic Reverse Charge (reverse charge) for the construction industry has been postponed again. Originally, the reverse charge was to be implemented on 1 October 2019, but was pushed back 12 months until 1 October 2020. The government has now announced a further five-month delay to its […]