News and Blog

Credit Where Credit’s Due – Food and Drink and R&D Relief

Despite the Research and Development (R&D) corporation tax relief scheme being around for a good number of years, the food and drink manufacturing sector continues to be one of the worst culprits for not making a claim. Recently, the government … Continue reading

Tax Returns – Clock is Ticking

Don’t forget that the deadline for filing your 2015/16 self-assessment tax return is 31 January 2017.  If the return is filed between 1 day and 3 months late the penalty is £100.  If it is filed more than 3 months … Continue reading

HM Revenue & Customs Investigations – are you in their sights?

We are increasingly concerned at HM Revenue & Customs new aggressive approach to investigations meaning that more innocent taxpayers are likely to be investigated. HMRC do not need a reason to open an enquiry although the majority of these are … Continue reading

The Highway Code of company cars

Many businesses offer a company car as an employee benefit in kind. This is a great incentive for staff, but employers could face a HMRC challenge if they do not first review their procedures and employment terms and conditions, writes … Continue reading

Bleak House

It came as no surprise that there were record Stamp Duty Land Tax (SDLT) receipts in March this year as buy- to-let landlords rushed to beat the deadline for increases in SDLT from 1 April 2016. However increased SDLT costs … Continue reading

Class 2 National Insurance Contributions

Background Traditionally self-employed individuals paid their Class 2 National Insurance contributions via six monthly bills or regular direct debits. If an individual’s profits were, or were expected to be below the small earnings threshold they could apply for the small … Continue reading

Change to Employment Allowance from 6 April 2016

Some Businesses are able to claim an additional £1000 relief in employers National insurance, the allowance increasing to £3000 , however others are now exempt from claiming the allowance.  Exemption details and how to report this can be found below: … Continue reading

Top Ten things to know on your payroll for the 2016/17 tax year

National Living Wage – WEF 1st April 2016 workers in the UK over the age of 25 will see a 50p increase to £7.20 per hour.The statutory rates for employees under 25 remain as follows: Aged 21-24 inclusive           £6.70 Aged … Continue reading

Construiction Industry Changes

Changes within the Construction Industry

In the Budget of 2014 the Chancellor announced that the Government would consult on options to improve the operation of the Construction Industry Scheme (CIS) and on the introduction of mandatory on-line CIS filing for contractors. Following the consultation, the … Continue reading

Are you interested in the buy to let market? If so, read on.

Chancellor George Osborne’s imminent 3% stamp duty rise might be good for first time buyers, but what does it mean for property investors? Jimmy King, board director at Pierce Chartered Accountants, explains.