Latest Business Support

In a society already dominated by red tape two new registers have been created to assail us. The Register of Trusts, when announced, did not seem unduly onerous. As the requirements have become clearer we are left pondering where trusts may exist that are not immediately obvious.   Of particular relevance to agriculture, land may…

Google ‘planting woodland and trees’ and you will find dozens of pages of advice but let’s focus on the farmer’s needs and the wide range of benefits to our readers where farmland grazing is poor or your land requires more fertilisers.   Large scale planting can: • Attract wildlife • Provide shelter for livestock •…

As we continually move from the analogue to the digital age, approving business documents by e-signature is becoming evermore common place. In response to this, The Law Society have just issued an updated practice note. This practice note sets the scene by recognising that e-signatures can be in various forms: name typed on a document…

With effect from 1st December 2022, although previous rates can still be used for up to one month after today’s date.   Engine size Petrol — rate per mile LPG — rate per mile 1400cc or less 14 pence 10 pence 1401cc to 2000cc 17 pence 12 pence Over 2000cc 26 pence 18 pence  …

It has recently been reported that the tax debt owing to HMRC as at 30 September 2022 stands at £46.9 million, and they are taking positive action to recover this from both individuals and business.   The profession has certainly seen a much more proactive approach from HMRC, and given the financial pressures on all,…

I can remember thinking that accountancy would be a boring career. Over 40-years later I found myself writing the introduction to our newsletter after a budget – aka ‘fiscal statement’ – which incensed the environmental lobby, attracted criticism on the world stage and plunged the pound to record lows against the dollar.   Now, it’s…

In the recent Autumn statement, there was the mention of a further focus on the matter of Research & Development (R&D), whereby this is something that is certainly wanted by the government given its benefits in moving the economy forward in a positive manner.   However, R&D can and does provide businesses with a very…

What is ATED? Annual tax on enveloped dwellings (ATED) is an annual tax charge payable by companies, partnerships (with at least one corporate partner) and certain collective investment schemes that own UK residential properties exceeding £500,000 in value.   When do I need to value the property? The property needs to be valued on specific…

HMRC have the right to enquire into any type of tax return, with common areas of investigation being self-assessment tax returns, corporation tax returns, PAYE submissions, and VAT returns.   Some enquires are carried out at random, but the majority are selected by way of risk assessment. HMRC have a sophisticated risk assessment computer system,…

Many businesses invest in science and technology research and development to improve their competitiveness. The UK Government encourages companies to develop new processes, products and services, as well as improvements to existing solutions by giving tax relief as a proportion of qualifying R&D expenditure. From April 2023 there are a few changes to the rules:…