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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 2 million workers receive a National Living Wage rise from 1 April 2018

2 million workers receive a National Living Wage rise from 1 April 2018

Over 2 million people will get a pay rise from 1 April 2018 thanks to an above-inflation rise in the National Living Wage (NLW). And no, this isn’t a late April Fool’s Day joke. The National Living Wage is going up by 4.4%, from £7.50 to £7.83, meaning a full-time minimum wage worker will be…

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View HMRC cracks down on online VAT abuse

HMRC cracks down on online VAT abuse

Fulfilment houses are being drawn into government endeavours to deal with the loss of revenue through online VAT abuse by traders based outside the EU. Therefore, from 1 April 2019, approved fulfilment businesses will be required to complete due diligence checks on their overseas customers and maintain records about the goods they store. HMRC have…

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View Why ticking the Gift Aid box is important

Why ticking the Gift Aid box is important

Tick That Gift Aid Box HMRC have said that charities are missing out on up to £600m a year of funding due to people not ticking Gift Aid box. They said: The research, published today by HM Revenue & Customs (HMRC), shows that a third of eligible donations made to many of the UK’s 200,000…

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View Why investing in tax professionals is always your best option

Why investing in tax professionals is always your best option

Tax Professionals are your best option The UK tax code, the laws that govern how much tax we pay, is one of the largest in the developed global economies. Unless you have a reasonable grasp of the multitude of tax rules and regulations, attempting to manage your own tax affairs is like driving with a…

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View Staff Spotlight – Meet Michele our VAT Expert

Staff Spotlight – Meet Michele our VAT Expert

We like to think we’re different here at Bracey’s. When people ask why, we tell them it’s our team that’s different. This is why we’re starting a staff spotlight feature where you can find out a little more about the team, what they do, what makes them tick and above all; how they can help…

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View What we make of Philip Hammond’s Speech

What we make of Philip Hammond’s Speech

Not a budget So what are we to make of the speech by Philip Hammond last week? Firstly, the Chancellor’s announcement was not a budget speech. There were no tax changes announced, in fact, the only change that was announced was to bring forward the expected business rates rebasing exercise by a year. He described…

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View Ken Dodd has the last laugh

Ken Dodd has the last laugh

Ken Dodd has the last laugh with his taxes. According to the press, Ken Dodd married his long-time partner, Anne Jones, just two days before he died. With an estate estimated to be £7m, the executors were facing an Inheritance Tax bill of over £2m, but tying the knot means that assets transferred to Anne…

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View Making Tax Digital – A reminder for VAT registered traders

Making Tax Digital – A reminder for VAT registered traders

Here’s a reminder for VAT registered traders on Making Tax Digital and what it may mean to them. As of April 2019, some self-employed businesses will be required to file VAT returns direct to their online personal tax accounts with HMRC. Eventually, all income and allowances will be kept in the digital account that HMRC…

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View Not long until GDPR becomes law

Not long until GDPR becomes law

GDPR – 66 days to go A reminder that the General Data Protection Regulation is due to become law 25 May 2018. At the time of writing this blog, that’s 66 days to become compliant. Why should you take it seriously? Because there are significant financial penalties for getting it wrong: meaning fines to you…

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