Are you in training for the Brexit Marathon?

November 6th, 2018

March 2017 was the date we declared we were going to exit from the EU. This set the deadline for our national drawbridge to be raised on the rest of Europe at the 29 March 2019. This is the first time we have separated ourselves from our largest trading partner since we joined the Common […]

Up to �1m tax break for investment in qualifying assets

November 1st, 2018

The Chancellor picked out business investment as his preferred give-away to the business sector in his Autumn Budget 2018. The Annual Investment Allowance is being increased from 1 January 2019, to £1m from the present base level set some years ago of £200,000. The increase is due to be available for two years, until 31 […]

Did Philip Hammond save the High Street?

October 31st, 2018

In his Autumn Budget delivered 29 October 2018, Philip Hammond made a number of promises. One of these was measures to improve the lack-lustre retail sector in our city centre areas. There is no doubt that the major online retailers, Amazon and the like, have caused a major shift in the way we shop. As […]

Autumn Budget 2018

October 30th, 2018

Personal Tax and miscellaneous matters   Personal Tax allowance The personal Income Tax allowance for 2019-20 will be increased to £12,500 (2018-19 £11,850). It will remain at this increased level for two years. Changes to personal tax allowances will apply to the whole of the UK.   Income Tax bands, rates and the dividend allowance […]

Taxing dividends

October 25th, 2018

To reduce National Insurance costs, shareholders of small privately owned companies, who are also working directors of the company, can presently restructure their remuneration package to reduce their salary and make up the difference as dividend payments. Unless this strategy is affected by the Budget at the end of this month, this remains one of […]

Exporting goods to the EU with a no-deal Brexit

October 18th, 2018

Last week we considered the effects of importing goods from the EU if a no-deal Brexit occurred. This week we are considering matters that government has published for exporters to the EU. A summary of the comments made in recent announcements is reproduced below. After the UK leaves the EU, in the event of a […]

Is this a good time to invest

October 16th, 2018

This article considers the question: should businesses invest in new equipment or other long-term capital acquisitions at this time? In truth, no one knows what the impact of the Brexit will be? Brexiteers believe that the floodgates will open, and the rest of the world will rush to buy our goods and services whereas Remainers, […]

Exclusivity and tax relief

October 11th, 2018

In order to qualify as a deduction for tax purposes we have to demonstrate that the expenditure was incurred “wholly and exclusively” for the purposes of our business or employment. We will also need to consider a further criterion: where the expenditure has a duality of purpose. In a 1980’s case, a barrister claimed for […]

Importing goods from outside the EU

October 9th, 2018

Although the Brexit issue is not yet decided it may be salutary for businesses to consider the changes they will need to face if we depart with a no-deal Brexit. We have touched on these issues in past articles posted on this blog, but today we have reproduced the present regulations you will need to […]

Did your goat eat your accounts?

October 4th, 2018

Companies House have published a list of bizarre excuses for the late filing of their statutory accounts. They include: “goats ate my accounts” “I found my wife in the bath with my accountant” “pirates stole my accounts” “we delivered the accounts to the betting office next door to Companies House” “a volcano erupted and prevented […]

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