Business advisory

News by Service

Grant funding for Brexit costs

18th September 2019
HMRC has announced that a £16m fund has been made available from which businesses can claim grants to cover certain costs associated with Brexit. On 31st October 2019 the UK will leave the European Union. Businesses will have to apply the same customs rules to goods moving between the EU and UK as they would...

September Questions and Answers

3rd September 2019
Can we submit monthly VAT returns? Q. We struggle to pay our quarterly VAT returns on time because we use the VAT money for other business expenses before it becomes due. Would HMRC allow us to complete monthly returns to help our cash flow? A. Unfortunately not. A business can only submit monthly returns if...

August Questions and Answers

1st August 2019
Does the name on the invoice matter? Q. I am the finance director of a large company and have just discovered that hotel bills we pay for in relation to our sales staff working away from home are always made out to the individual employee and not the company. Does this create an input tax...
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...

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...
Joanne Gibson Head of Payroll

Payroll like clockwork

29th May 2018
Managing Payroll is one of those core business functions that you might believe is better kept in-house, but as our new Payroll Bureau Manager Joanne Gibson informs you, there is a compelling case for outsourcing it. As a business owner you will know that employing a workforce requires a good understanding of your legal obligations...
Kevin Crowford, Partner at JRW CA

INCORPORATING YOUR BUSINESS – The Hidden Tax

29th March 2018
You are looking to incorporate your business and you’ve heard that any resulting tax charges can be legitimately mitigated. However, there is tax to pay as Kevin Crowford shows in his latest blog. Undoubtedly one of the main reasons for transferring a sole trader business to a company in which you own shares is tax...

PUTTING IT THROUGH THE BUSINESS

27th March 2018
You are buying new IT equipment, mainly for use at home, but occasionally it will be used for work. Can you reclaim the VAT on the cost of the equipment and is there any advantage in doing so? VAT expert John Craig takes a closer look. ‘Putting it through the business’ is the old chestnut...

BE SMART ABOUT CASUAL LABOUR

13th March 2018
As an employer, you’ll be aware of the increasing number of obligations when employing and looking after your staff.  But this also has an impact on employing casual workers too, Kevin Ferguson looks at the Tax do’s and don’ts of employing casual workers. You will probably know from experience that these days employers must not...

TAX ON DIRECTORS SALARY, DIVIDENDS AND PERKS

3rd October 2017
If you are the Director of a company, you will know that the taxation of dividends and benefits in kind has changed quite significantly in recent times. So, if you are considering taking more income from your company, which option should you choose for maximum tax efficiency? But before we do that, let’s look at...