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.

Make the Most of Your Annual Investment Allowance

The Annual Investment Allowance (AIA) provides an immediate deduction to many businesses for the cost of most plant and machinery and office equipment purchased, up to an annual limit. This means if your business buys a piece of equipment that qualifies for the AIA (which for clarification does not include cars), you can deduct 100% […]

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Countdown to new Capital Gains Tax Rules

Individuals that own additional and buy-to-let properties have been under the HMRC microscope for a number of years now. And this focus by HMRC is set to continue. Following the reduction in relief for mortgage interest, plus increased rates of Stamp Duty Land Tax (SDLT) and Capital Gains Tax (CGT) on additional properties, HMRC are […]

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Why We Value Training

We understand that in order to be the best at what we do and continue to deliver Quality Advice-Quality Service, GWA needs the most knowledgeable and approachable employees. In order to achieve this, we recognise the requirement to invest in ongoing staff training – you will see us celebrating the resulting exam success in our newsletters. […]

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IRS or HMRC – Should You be Paying US Tax

Tax laws around the world have become increasingly complex in recent years with ever more scrutiny on tax evasion. The USA is no different, and the US Congress and tax authorities have been tightening up their compliance rules for US taxpayers with non-US income and assets. It is estimated that over 250,000 US taxpayers live […]

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The Road to Making Tax Digital

Spring is often described as the season of new beginnings, so it seems appropriate that 1 April was the launch date for, arguably, the biggest change in the UK’s tax system for 20 years. VAT registered businesses above the VAT threshold would be required to start recording their business transactions using digitally compliant software from […]

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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 […]


Blog

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 […]