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Video games companies to begin claiming tax relief
Video games companies across the UK will be able to begin claiming tax relief on their production costs, as the government’s cultural regulations come into force from the 19th August 2014. With tax...
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Equitable Life Payments Scheme payments pass £970 million
Since April 2014, the scheme has issued payments to a further 17,000 policy holders, meaning that over 877,000 (out of 1 million) eligible policyholders have now had payments issued to them. The...
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Hertz Accounting Exposé
Hertz, the US car rental company, has said it may find more errors in its accounts and warned that its earnings will be “well below” previous guidance. In a filing to the Securities and Exchange...
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Looking for an accounting solution for your small business?
Looking for an accounting solution for your small business? Business owners need all the help they can get. Instead of being inundated with crunching numbers, balancing incomes with expenses, and...
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Thinking of starting your own business? Well hopefully this infographic can...
The post Thinking of starting your own business? Well hopefully this infographic can help. appeared first on IBC Accountancy - Counsultancy.
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FIVE BOOKKEEPING TIPS FOR SMALL BUSINESS
Unless you are an accountant or a fan of working with numbers, bookkeeping is probably not your favourite task. But adopting some good habits early can help you avoid costly errors when it comes to...
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CIOT welcomes Scotland’s tax devolution Bill
The Chartered Institute of Taxation has welcomed the passing of the Revenue Scotland and Tax Powers Bill, which changes the tax landscape regardless of the outcome of the independence referendum. Moira...
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Accountant gets three year ban over audit failures
A tribunal has excluded an ICAEW member from membership of the profession for three years following a Financial Reporting Council (FRC) investigation over audit failures. The firm where Paul Newsham...
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A third of HMRC callers waiting 10 minutes
Over a third of callers to HMRC helplines are waiting 10 or more minutes for their call to be answered, according to the latest HMRC Contact Centres survey report. Overall, the median waiting time is...
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The New Rules on Dividends 2016/17
Rules Prior to 6 April 2016 Prior to 6 April 2016, the taxation of dividends had been made complicated due to a 10% tax credit being added to the cash amount of the dividend, with the tax credit then...
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TAX AND PROPERTY
AN OVERVIEW OF KEY CHANGES The Government has announced a series of changes to the property tax regime in recent months. This factsheet considers the tax implications of owning property and looks ahead...
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WAYS TO SAVE TAX AHEAD OF THE 5 APRIL YEAR END
The end of the tax year on 5 April is fast approaching, and this is always a good time of the year to think about ways to structure your business and personal finances so that they are as tax-efficient...
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Ten Biggest Changes to Personal Finances in 2016
Whatever aspect of Budget 2016 that you are interested in, below are the most common rules affecting households and businesses in 2016. Many saw 2015 as the introduction of both pensions freedom and...
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Changes for Improvement within the Construction Industry Scheme (CIS Scheme)...
Changes for improvement within the Construction Industry Scheme (CIS Scheme) for 2016 HM Revenue and Customs have introduced changes, which are now in force to the Construction Industry Scheme (CIS) to...
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HMRC’s VAT Flat Rate Scheme Flawed!
Inaccurate VAT Flat Rate Scheme Causes Unexpected Tax Rise to Small Businesses According to verdicts from tax tribunals, HMRC are facing calls to review their categorised VAT Scheme because it has been...
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Tax Rates and The Personal Allowance
Although the personal allowance for 2016-17 was set at £10,800 by the first Finance Act 2015, it has now been confirmed that it will rise from its current level of £10,600 to £11,000 for 2016-17. The...
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Non-Domiciled Individuals
Whilst the Chancellor stopped short of Labour’s proposals to completely abolish non-dom status, he said that ‘it is not fair that people live in this country for very long periods of their lives,...
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Tax-Advantaged Venture Capital Schemes Amendments
Amendments are to be made to the existing Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) rules. Broadly, the changes are as follows: – The first measure specifies the age of a...
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Reduction in Corporation Tax Rate
The main rate of corporation tax has already been cut from 28% in 2010 to its current rate of 20%. The Chancellor has announced that the main rate will now be cut further from 20% to 19% in 2017, and...
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