In a recent tax tribunal case a tax payer was denied Capital Gains Tax relief for the cost of improvements to a property as he could provide no evidence of his expenditure to the court. The court came to the conclusion that the taxpayer had made improvements and were somewhat dismayed by his inability to […]
Electric bill that won’t cause tax problems
Employers that provide a company car and pay for the employees’ private fuel create tax, NIC and administrative issues for both parties. Employers will be liable for Class 1A National Insurance charges on the taxable benefit created by the provision of the car and payment of private fuel; unless the employee fully reimburses the private […]
Best to be informed
If you are self-employed, as a sole trader or in partnership, and if we assume that your business year end is 31 March, then the profits you earn in the year to 31 March 2014 will form the basis of your tax payments on account for the tax year 2014-15 (unless the year to 31 […]
Why should you elect to pay tax?
There is a situation where you might be advised to make an election to pay tax. It arises if you sell your company and accept payment in the form of shares (or certain types of loan notes) from the buying company. Let’s say that you own all of the shares in your company X Ltd […]
Create impact with your Tenders
The pressure to win new business in today’s market has never been so great. With more firms chasing less work, the market has become highly competitive. Consequently, firms have had to adapt and retune their business development models. How firms design and package their bid presentation can make the difference between success and failure. Be […]
Tips for Buying out a Competitor
As the economy begins to recover, many businesses are finding themselves in a rather enviable position: large cash reserves in the bank and weaker competitors just waiting to be snapped up (for a bargain price!). So you know you want to expand by acquiring another firm, but where to start? Analyse Your Business Start with […]
Small business rates relief
The following information is reproduced from the GOV.UK website where you can get more information on this topic if required. You can get small business rate relief if: you only use one property its rateable value is less than £12,000 What you get Until 31 March 2015 you’ll get 100% relief (doubled from the usual […]
Improve your Customer Relationships
One thing is true for all businesses; if we have any work, we have customers! One of the most important parts of our work is maintaining and enhancing our relationships with our clients. Maintaining and growing these relationships makes the time spent on a project more enjoyable, satisfying and effective. Improved relationships also improves the […]
Watch out for copycat sites
There has considerable press commentary during the last few weeks about a “copy-cat” website taxreturngateway. If you Google tax return gateway you will still be directed to https://secure.taxreturngateway.com, it’s the top listing. The site purports to act as a channel that allows you to file your return online. When you have finished the process you […]