Latest blogs for Services

Wondering ‘Why should I write a business plan?’ Business plans are vital for the future of any small and large companies. They investigate the long-term goals and objectives that you would like to achieve and put these into short term goals to ensure you are reaching your end target.   A good business plan may…

Plan and reflect or reflect and plan? The first few months of the year generally allow for a reflection on the previous year and then planning ahead for the current year, however planning ahead this year looks like it could be even more difficult than normal.   House prices are growing, albeit slowly, mortgage rates…

It’s commonly known that, following changes introduced gradually from 2017/18, the method by which finance interest is relieved has changed dramatically. No longer can interest be deducted in full when calculating rental profits; instead, relief is provided by way of a 20% tax reducer.   With the recent increases in loan interest rates and the…

In light of the increase to corporation tax rates, effective 1 April 2023, you may be considering how to reduce your corporation tax liabilities. One option is purchasing a car through your limited company – the key points to consider in your decision are as follows.   Investment allowances on purchases of motor cars: First…

We have moved! We are excited to announce the recent move of our March office to Fenland House on Hostmoor Avenue in March.   Working closer with our colleagues from Wisbech and Ramsey, we have created a central Fenland Hub providing high quality services to existing and prospective clients in the region.   The Old…

Are you building a new home in which you will live?   Perhaps converting an existing building into a home?   You may be able to get the VAT back – you don’t even need to be VAT registered!   When you purchase a brand new house from a property developer you will not be…

As HMRC have experienced an increase in the number of SME Research & Development (R&D) tax relief claims being made by companies, so have they witnessed a number of fraudulent claims being made. To tackle this abuse, HMRC have established a tax credit compliance team to deal with R&D enquiries.   If a company receives…

Our offices are now closed for the Easter break and will re-open on Tuesday 11th April 2023. We hope that you all have a wonderful Easter break.

With many businesses seeing a return to pre-pandemic trading levels, now is an ideal time to review your SME’s VAT status.   Businesses must compulsorily register for VAT where ‘VAT-able’ supplies (which is usually, but not always, your turnover), on a rolling 12 month basis, exceeds £85,000. Voluntary registration, however, can take place with turnover below this…

The flat rate VAT scheme is available to any business with taxable annual sales of £150,000 or below, excluding VAT. It was introduced in 2003 to ease the administration needed for small businesses by simplifying the VAT return process. Once you have joined the scheme you can remain until your total VAT-Inclusive business income exceeds…