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We like to keep ahead of the curve wherever we can – whether that’s technological advances, legislation, or just what’s happening in accounting. Then share it all as free advice on our blog page.

View Stamp Duty and Personal Assets: How To Price The Garden Shed

Stamp Duty and Personal Assets: How To Price The Garden Shed

When you are selling your home, you are likely to be selling a range of fixtures and fittings. For example: White goods, washing machines, fridges, cookers etc, Furniture, Carpets, Curtains, Garden equipment, Leisure or fitness equipment, jacuzzi etc, And the garden shed. If identified in the sale contract, any value attributed to these personal assets,…

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View Claiming Expenses: A Case Study

Claiming Expenses: A Case Study

In a recent tax case, three taxpayers asserted that cleaning costs of work clothes amounted to £2,200 a year and HMRC disagreed. The facts were compelling, each of the appellants worked in the drainage or sewage industry and to maintain personal hygiene washed work clothing on a daily basis. Why shouldn’t they claim for the…

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View A New Hope For Self-Employed Liability?

A New Hope For Self-Employed Liability?

 If you are a sole trader, or in a basic partnership, and if your business gets into financial difficulties, any liabilities that cannot be covered by the disposal of business assets may have to be settled out of personal assets. In accountancy speak, you have unlimited liability; there is no protection for your personal assets….

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View Are You Prepared For March 2019?

Are You Prepared For March 2019?

As we have outlined in recent posts, change is upon us and come to the end of March next year, the combination of Brexit and the advent of Making Tax Digital (MTD) will change much that we have taken for granted. Apart from the cross-border considerations (import VAT, customs duties and the like), MTD will…

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View Accountancy Franchise Top Tips

Accountancy Franchise Top Tips

If you’ve always wanted to run your own practice, interact and manage your own clients and make sure your income reflects the value you add, then step this way. We’ve spoken to our resident Accountancy Franchise Manager Kath Cooper to give us her top tips on what you need to look out for when considering…

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View Making Tax Digital: Traders Checklist

Making Tax Digital: Traders Checklist

Making Tax Digital (MTD) is HMRC’s long-running intention to make an electronic link with the accounting data of UK businesses. The idea is to draw in the data they need directly from your computers using links provided by your software developers for this purpose. Which is fine if you are using accounts software that will…

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View A No Deal Brexit: What Could Happen To Customs Procedures?

A No Deal Brexit: What Could Happen To Customs Procedures?

Last week we posted an article advising businesses that trade with the EU of guidance that HMRC has issued in the event that we do not reach an accommodation with the EU when we leave March 2019. This week we are paraphrasing, from HMRC’s guidance announcements, the likely changes to customs procedures if the so-called…

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View Brexit And VAT: What Should You Do To Prepare?

Brexit And VAT: What Should You Do To Prepare?

Businesses that buy goods from the EU or export goods to the EU would be advised to read the recent VAT guidance from HMRC that is published under the title: VAT For Businesses If There Is No Brexit Deal The stated purpose of the document is reproduced below. The full text can be read online…

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View Where There’s A Will…

Where There’s A Will…

None of us relish our own demise which probably explains why approximately 70% of us have not made a Will. With no direction from your good selves, who will inherit your worldly goods if you die without making a Will? The legal jargon is dying intestate. A Non-Living Example Consider Louis. 75 years old and…

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