Read our latest Practice News as well as sector specific and accountancy updates from across the UK.
One of the welcome announcements in the Autumn Statement included the immediate reform of Stamp Duty Land Tax (SDLT) on the purchase of residential property. Until this announcement SDLT was charged at a single percentage of the price paid for the property, depending on the rate band within which the purchase price falls. This created […]
2014/15 introduced the Employer Allowance, an up to £2,000 saving on Employer Class 1 National Insurance contributions (ERNIC) for many businesses and for charities. As the tax year draws to a close it is worth checking whether your business was entitled to claim and ensuring the claim has been made. This allowance continues into 2015/16 […]
Our summer show season got off to a good start at The Northumberland County Show at Bywell on Monday 25th May. We had a great time catching up with clients and acquaintances and enjoyed a delicious hog roast provided by The Juicy Meat Company. We would like to thank GrainCo Ltd for letting us share […]
In Budget 2014 the Government announced that it would consult on options to improve the operation of the CIS and on the introduction of mandatory online CIS filing for contractors. The consultation has now taken place and the legislative process will commence in April 2015. Turnover test for gross payment status Currently the turnover test […]
Capital allowances are generally not available for common items of plant and equipment such as white goods used in a residential lettings business. Instead for many years, owners of partly furnished residential lettings used the non statutory renewals basis which was a concessionary treatment allowed by HMRC. On the original acquisition of an asset, such […]