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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 When Does Gifting Become Tax-Free?

When Does Gifting Become Tax-Free?

There are certain gifts you can make that will not create a capital gains tax (CGT) charge, but care should be taken as there are exceptions. Gifts To Your Spouse Or Civil Partner Ordinarily, you will not pay CGT if you gift assets – that would normally create a charge to CGT if sold elsewhere…

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View Breathing Space For Those In Debt

Breathing Space For Those In Debt

In a recent news story published to the Government website it was announced that a new breathing space period will freeze interest, fees and enforcement for people in problem debt, with further protections for those in mental health crisis treatment. Millions of people will be helped by the Government to get their finances under control….

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View Brexit: What Happens Next

Brexit: What Happens Next

PM Boris Johnson and the Conservatives did what they had vowed to do in last year’s election to ‘Get Brexit done’. Friday saw celebrations and commiserations from the Leavers and the Remainers. The question now is what happens next? We are out of the EU, but what difference does this make and what is the…

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View Do You Have A Furnished Holiday Lets Business?

Do You Have A Furnished Holiday Lets Business?

Most property owners who let property under the Furnished Holiday Let (FHL) tax rules, submit their income and expenditure details on their tax return each year. Is your FHL business accounts year due on the end of the tax year, 31 March (5 April)? Then, we suggest that you take out your calculator and booking…

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View VAT Checklist | Our Top Four Tips

VAT Checklist | Our Top Four Tips

Do you know everything you need to know about VAT?  As part of your business planning for 2020, we’ve picked the brain of our VAT expert, Michele Harris, who gives her top four tips when it comes to correctly planning for the all-important, yet somewhat complicated tax. Brexit In the lead-up to Brexit, HMRC has…

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View When Assets Can Become A Tax Liability

When Assets Can Become A Tax Liability

No-one wants to pay more tax than necessary. If you are coming to the end of your trading year, now could be the perfect time to assess your assets to see if there is a way that you could be paying less. There are certain assets that may be carried on your balance sheet at…

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View Last Week In The EU | Advice For Transition Period

Last Week In The EU | Advice For Transition Period

On the 31 January, the UK set is set to enter the transition period of Brexit.  It’s almost here. The day we have been waiting for since the 2016 referendum. And whichever way you voted, I think everyone will breathe a sigh of relief. But, it isn’t actually the end. Oh, no. Transition Period Meaning…

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View VAT: Understanding The Cash Accounting Scheme

VAT: Understanding The Cash Accounting Scheme

Paying VAT should never reduce your business profits as you are acting as an unpaid tax collector for HMRC. The VAT added to your sales (less any VAT paid on your purchases) is simply collected from your customers (less amounts paid to suppliers) and the difference paid to HMRC. But if my customers are registered…

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View Is Your Home A Tax Free Zone?

Is Your Home A Tax Free Zone?

You may be at that time in your life when you are thinking of selling the family home where you raised your children in order to downsize ready for retirement. And, in most cases, the property you have lived in for what feels like a lifetime will earn you a nice little profit when you…

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