Contact us

245 Bury New Road, Whitefield

Manchester, M45 8QP

Search News


News

New checker tool to help businesses prepare for Brexit
11/09/2019 - More...
The government has launched a “Get ready for Brexit” public information campaign to help ensure businesses are ready when the UK leaves the EU on (currently) 31 October 2019. As part of the campaign, a new checker tool will help businesses to prepare for Brexit, particularly if they import or export, deal with personal data or

Immigration rights of EEA citizens in the event of a no-deal Brexit
11/09/2019 - More...
The Government has now announced the revised transitional arrangements that will apply in the event of a no-deal Brexit to EU, EEA and Swiss citizens and their close family members arriving in the UK after Brexit, replacing those set out in a January 2019 policy paper issued under the previous Prime Minister, Theresa May. The

Information Commissioner’s Office publishes no-deal Brexit guidance for small and medium-sized organisations
10/09/2019 - More...
The Information Commissioner’s Office (ICO) has published dedicated guidance to assist small and medium-sized businesses in their preparations for a no-deal Brexit and has urged them to “prepare for all scenarios” to maintain data flows when the UK leaves the EU. The guidance for small and medium-sized businesses is not

Get information about a company
10/09/2019 - More...
There is a significant amount of information that can be obtained from Companies House. Companies House is responsible for incorporating and dissolving limited companies, examining and storing company information and making company information available to the public. Much of the company information available can be accessed free of

What is the Annual Investment Allowance?
10/09/2019 - More...
The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant, machinery, commercial vehicles and other qualifying equipment to be deducted from your profits before tax. The AIA can be claimed by an individual, partnership or

Planning a Christmas party?
10/09/2019 - More...
Now is the time that many businesses are planning a Christmas celebration for staff as well as possibly for partners/spouses, clients and prospective clients. The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below, then there is no

Reporting employee changes
10/09/2019 - More...
There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission (FPS). The FPS is a submission that you need to make to HMRC every time you pay your employees and must be submitted on or before the usual date you pay your employees. The information

Options to close down a limited company
10/09/2019 - More...
There are a number of reasons why a limited company may no longer be required and can be shut down. This may be because the limited company structure no longer suits a client's needs, the business is no longer active, or the company is insolvent. You will usually need the agreement of all the company’s directors and shareholders

Claiming Entrepreneurs’ relief
10/09/2019 - More...
Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available, CGT of 10% is payable in place of the standard rate. There are a number of qualifying conditions that must be met in order to qualify for the relief. When the

Duty-free shopping to make a comeback?
10/09/2019 - More...
The Chancellor of the Exchequer Sajid Javid has said that the Government will reintroduce duty-free shopping with EU countries in the event the UK leaves the EU without a deal. This would mean that passengers travelling to EU countries would be able to buy beer, spirits, wine and tobacco without duty being applied in the UK. According

VAT changes for CIS Sub-contractors delayed
09/09/2019 - More...
The VAT rule changes for building contractors and sub-contractors that were expected to come into effect imminently, have been delayed for 12 months until 1 October 2020. This surprise announcement followed intense lobbying by the construction industry who have long argued that many businesses in the sector were unprepared for the

Filing deadlines for company accounts
03/09/2019 - More...
The normal deadline for filing private limited company accounts is 9 months after the company’s financial year end, known as the accounting reference date. For example, many companies have a year-end date of 31 March and are therefore required to file their accounts by 31 December. For public companies, the time limit is 6 months

Filing deadlines for a company confirmation statement
03/09/2019 - More...
As well as filing accounts with Companies House, there is a further requirement to check that the information Companies House holds about your company is correct every year. This is facilitated by the filing of an annual company confirmation statement. The confirmation statement was introduced in June 2016 and replaced the annual return

Help to Save accounts
03/09/2019 - More...
The Help to Save scheme can help those on low incomes to boost their savings. The scheme was launched in September 2018, and new figures published by HMRC have revealed that over 132,000 people have signed up, depositing more than £31.4 million into Help to Save accounts. These savers are now eligible for bonuses totalling around

State Pension update for recipients living in the EU
03/09/2019 - More...
If you live or move abroad, you are entitled to claim the State Pension if you have met the necessary qualifying criteria. This is based on your UK National Insurance record. You require a minimum of 10 years of UK National Insurance contributions to be eligible for the new State Pension. The New State Pension can be claimed if you

Merchandise in Baggage in case of no-deal Brexit
03/09/2019 - More...
There are special customs requirements for commercial goods or samples which are imported or exported by passengers in their accompanied baggage (hand carried) or in a small motor vehicle (carrying less than 9 passengers and weight 3.5 tonnes or less). This is known as Merchandise In Baggage or MIB. MIB goods include the

Simplified expenses motor vehicles
03/09/2019 - More...
There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses regime is not available to limited companies or business partnerships involving a limited company. The fixed rate deduction

Simplified expenses use of home
03/09/2019 - More...
If a taxpayer is self-employed and running a business from home, there are simplified expense rules available for claiming a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses rules are not available to limited companies or business partnerships involving a limited

Trading income priority rules
03/09/2019 - More...
There is specific tax legislation that seeks to determine which charge takes priority where two different charges could potentially apply to the same income. These rules are known as the 'priority rules'. HMRC manuals state that for Income Tax purposes, savings and investment income, and income otherwise within one of the charges

New advisory fuel rates published
03/09/2019 - More...
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A

Government to end free movement if a no-deal Brexit
28/08/2019 - More...
If the UK leaves the EU without a deal in place on 31 October 2019, EU, EEA and Swiss citizens (and their family members) who are living in the UK by this date will still be eligible to apply for settled or pre-settled status under the EU Settlement Scheme and they will have until 31 December 2020 to do so. Under Theresa May’s

Do you trade with EU companies?
27/08/2019 - More...
The new Chancellor, Sajid Javid, has stepped up plans to help ensure businesses are ready to trade post-Brexit if the UK leaves the EU without a deal. If you trade goods with the EU then you will be responsible for making customs declarations, as is the case for businesses currently exporting goods outside the EU. To do this, you must

How dividends are taxed
27/08/2019 - More...
The dividend tax allowance was introduced in April 2016. It replaced the old dividend tax credit with an annual £5,000 dividend allowance with tax payable on dividends received over this amount. The tax-free dividend allowance was reduced to £2,000 with effect from 6 April 2018. The tax rate for dividends received in excess

Deregistering for VAT
27/08/2019 - More...
A compulsory VAT deregistration is usually required if you: Stop making taxable supplies Sell your business Change legal status Disband a VAT group Join a VAT group Join the agricultural flat rate scheme A voluntary VAT deregistration can be made if you do not expect your taxable turnover to exceed the VAT deregistration limit.

 

Latest News

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

 

 

Cookie Policy

 

Copyright © 2019 - John Spibey Associates