Latest blogs for Services

Tech companies that are financed through EIS equity cash will be aware that this ‘tax wrapper’ can be super-generous, but that many criteria have to be met to ensure eligibility. One of these long standing criteria has been that the company must use the proceeds (up to £5m pa) raised: In either a qualifying trade…

HM Revenue & Customs is proposing, in less than two years’ time, to rewrite the rules around Capital Gains Tax, CGT, following the disposal of a residential property. The current timescale for payment is going to be slashed to 30-days. From April 6 2020, a payment-on-account of CGT, will be required following the sale of…

The property allowance is a tax exemption of up to £1,000 a year for individuals with income from land or property. The property allowance applies to relevant property income which includes: Both UK and overseas property businesses. Both commercial and residential letting (but not rent-a-room businesses – see below).Where property income exceeds £1,000, the legislation…

Fraud is a gigantic area which I would never be able to discuss fully in one blog however, after a recent run-in with a fake HMRC line; I did want to make you aware of a few key things to look out for or to be aware of when dealing with possible fraud. It’s important…

A lot of our blogs are about rules and regulations, however something that happens often in our world is that we get the fantastic opportunity to be part of a new business venture for one of our clients. Shume Bottle Emporium – is a beer shop specializing in locally brewed beer, cheese, coffee, gin and…

Tech companies that have a business plan of developing a new product, with the aim of an eventual trade sale or IPO exit, will be very familiar with EMI share options. These options give generous personal tax breaks, to help recruit, retain and reward middle management and key workers. Under generic EU principles, such tax…

On 6th April 2017 the Government introduced the trading allowance. The aim of this new allowance is to simplify income tax obligations for minor amounts of trading and miscellaneous income.  In essence, if trading and miscellaneous income is less than £1,000 in a tax year:-  The income is exempt from income tax There is no…

iZettle was founded in Stockholm in 2010 and have attempted to revolutionise mobile payments with the first mini chip card reader and software for mobile devices. Their commerce platform for small businesses in Europe and Latin America provides tools to get paid, sell smarter and grow your business. Some of the huge benefits are: Automatically…

Builders will probably now be aware that the basis for calculating how much their annual payment is under the Construction Industry Training Board (CITB) has recently changed:     Old Basis New Basis Levy on employees 0.5% 0.5% Levy on labour only sub-contractors 1.25% 0% Levy on payments to sub-contractors with Net CIS status 0%…

  VAT registered businesses will be aware that they can only reclaim VAT on business purchases if they have a valid VAT invoice.   For supplies over £250, this invoice should disclose: Supplier: sales invoice unique sequential invoice number, name, address and VAT number. Date and tax point, if different Your name and address Description…