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.

Direct Recovery of Debts (DRD)

You may have heard that HMRC are proposing new rules on the Direct Recovery of Debts (DRD). HMRC recognise that: ‘…there are concerns about the impact of this change on vulnerable members of society. We must ensure that there are strong safeguards in place so that this is only targeted at the truly non-compliant.’ HMRC […]

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RTI penalties on the horizon

Earlier this year, HMRC laid out their timetable for various changes to the PAYE compliance system: April 2014 – in-year interest on any in-year payments not made by the due date – this is already happening, although HMRC are not writing to affected businesses. Instead, the interest charge can be seen on the relevant tax […]

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VAT change for the digital business

The one-stop VAT service starts from 1 January 2015 for businesses supplying what are collectively known as ‘digital services’ in the EU. The effect of the measures is that a business will not have to account and pay VAT separately in each country where they do business which would otherwise be the case following a […]

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Planning for non UK residence

Individuals who are not resident in the UK for tax purposes do not pay tax on income arising outside the UK and currently do not pay UK capital gains tax (CGT) on the disposal of assets anywhere in the world. For those who can organise their residence position there are clear potential advantages, subject, of […]

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Are you calculating your employees’ holiday pay correctly?

A recent ruling by the European Court of Justice could lead to changes in how employers are required to calculate holiday pay. Currently holiday pay in the UK is calculated on the basis of a week’s pay. A week’s pay is usually held to mean basic salary only, excluding payments such as working allowances, expenses, […]

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