UHY Ross Brooke Chartered Accountants
It is common for businesses to enter into a contract with a telecoms company to provide mobile phones to the company’s staff. There is no benefit in kind on the provision of the mobile phone as there is a specific provision in Section 319 ITEPA 2003 to exempt such a
The SEIS was created to encourage individuals and other businesses to invest in new enterprise and entrepreneurship in return for tax incentives. Under the scheme, individuals can invest a maximum of £100,000 in a single tax year, which can be spread over a number of companies. In return they
As 31 July approaches scammers will take the opportunity to increase the number of fraudulent emails and imitation HM Revenue & Customs (HMRC) websites in order to obtain individuals’ bank information on the pretext of a tax demand or a claim that a tax refund is due. Our repeated advice
Private tuition is exempt from VAT provided that it is both given by an individual teacher acting independently of an employer; and a subject ordinarily taught in school or university. The first point is fairly clear and means that VAT exemption would not be available to a company or its
The IR35 Business Entity Tests and example scenarios have been with us for over 2 years now, but are they working? No, according to the minutes of a recent meeting of the IR35 Forum consisting of a focus group of independent advisers, who concluded that the business entity tests were
Personal view by Chris Davies – Don’t get me wrong. I am certainly not in favour of anyone breaking the law to avoid taxes and I appreciate that HMRC have a real battle to frustrate those who do not intend to pay their fair share of tax, but I do
Most accountants are also successful business owners, and can offer much more than just accounts and tax services. They should be your on-call business partner, a sounding board for ideas, helping you run your business smoothly and suggesting ways to earn and keep more income. They also have a wide
Updated 04/04/2022 Hands up anyone who would like to handover £1 and get £2.30 back? Sounds like a good deal doesn’t it? Well in a way that’s pretty much what the Research and Development Tax relief for small companies offers. The most surprising thing about this scheme is despite the
HMRC have recently issued a “Spotlight” publishing their view on the various Contractor Loan Schemes following the decision in P Boyle (TC1303). Mr Boyle provided his services through an offshore company and extracted money from that company in the form of loans which he argued were not taxable. The tribunal
Despite overall static retail sales in the period, according to a survey by the British Retail Consortium, a record amount of shopping was performed online in December, with a staggering increase of almost 20% over the previous year. The rise was attributed to both increased use of smart phones and