Latest blogs for Services

Maximise R&D Tax Relief Claims. With the ability to now claim 225% tax relief on eligible costs, those making such R&D claims will need no convincing of the merits of including as much as possible within the claim. Areas, often over-looked, where this claim can be increased include: Claiming relief on all reimbursed expenses paid…

VAT Returns – Compulsory online filing has benefits It has now been nearly nine months since HM Revenue & Customs have stipulated that all VAT registered businesses should file their VAT returns online, apart from a number who are exempt. But some may say, what are the benefits of VAT online? 1. Security – all…

New audit exemption rules for small companies and for subsidiaries The government has recently announced changes to company law that allow many companies and limited liability partnerships more choice in deciding whether to have a statutory audit. The changes apply to financial years ending on or after 1 October 2012. Who is affected? Broadly, there…

Horizon 2020:  EU funding for ‘disruptive‘ SME’s. As part of the Horizon 2020 programme, the EU is selecting potentially disruptive businesses to invest in and support. SMEs with a strong growth potential and the ambition to become world-market leaders could receive up to €2.5 million in funding. The commission is looking for high growth, highly innovative…

Selling Your Business on Retirement: There is an Alternative. You’ve spent a lifetime building up your business, the thought on retirement of selling out to your business rivals may be unpalatable and selling to you own management team may not be feasible; there is an alternative. Allowing your staff to take ownership through a phased transition…

Reviewing business finances just before the year end, then taking actions to influence how the year end results will look, should be a key element of the annual financial management routine for larger more pro-active businesses. Although corporation tax reduction is usually the key aim of most company pre year end planning, you should not overlook…

Examples of the most helpful and generous tax elections and claims include: s222(5a) TCGA 1992 (Nomination of main residence) This capital gains tax election, often referred to as ‘flipping’, enables taxpayers, who own and reside in more than one home, to inform HMRC which of these homes is their principal private residence. For those who…

Certain payments made by businesses on behalf of employees are tax free personally, so are useful for profit extraction and within flexible remuneration structures: Employer pension scheme contributions (up to £60,000 per employee per annum, plus potential ‘catch-up’ from previous 3 years. This assumes your personal income is not above £260,000 and you are not…