July 2019

News Posted

New business – when is the best time to register for VAT?

23rd July 2019
You have identified a new business opportunity that you want to keep separate from your main business. What should you consider regarding your VAT recovery if you don’t want to register straightaway? VAT expert John Craig advises. You can voluntarily register for VAT at any time if you are either making or intend to make...
Joanne Gibson Head of Payroll

New rules for Employment Allowance

18th July 2019
The government has published draft legislation for the new restrictions which will apply to the NI Employment Allowance (EA) from April 2020. Will your business be affected, and if so, how? Head of Payroll Joanne Gibson brings you up to date. Employment Allowance Since April 2014 most employers have been entitled to a deduction from...

Is it a donation or sponsorship, or both?

17th July 2019
HMRC has recently updated its guidance about when a payment to a charity could comprise of two different elements, with different VAT outcomes for each part. What opportunities does this create for both charities and sponsors? John Craig looks at the change and how this might affect you. HMRC’s approach to philanthropy is very clear,...
Husband and wife companies - tax on dividends

Husband and wife companies – tax on dividends

17th July 2019
By Stuart Hair, JRW CA Tax Team You’re about to form a new company of which you’ll be the main income generator. To save tax your spouse will own shares in the company. Should you subscribe for shares and give some to them, or should you both subscribe? The example below demonstrates why HMRC was...

New DRAFT IR35 legislation

12th July 2019
The new DRAFT IR35 legislation which has just been released by HMRC, could potentially be really good news for many of our smaller sized clients. Of course, this is draft legislation and it could be subject to change but it does include promising signs for many of you, here is a summary of the key...

Should you be charging your company rent?

3rd July 2019
You and your fellow directors own your company’s trading premises. Currently it occupies the property rent free. If this is the case, you should probably think about charging rent to your company as a tax-efficient source of income. But what is the income tax efficiency versus entrepreneurs’ relief? Tax expert Helen Johnstone takes a closer...

Structures and Buildings Allowance

1st July 2019
After some delay HMRC have now published the draft rules for consultation on Structures and Buildings Allowance and in this article we update you with some of the details. This change, announced in the 2018 Budget, provides for capital allowances for expenditure incurred on or after 29th October 2018 on the construction of a building...