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View UPDATE: No-Deal Brexit

UPDATE: No-Deal Brexit

The phrase “no-deal Brexit” is assuming a rather specific meaning as the exit from the EU grinds towards a conclusion – the present deadline for achieving a withdrawal agreement is the end of October. No Luck If we fail to achieve consensus by that date, there are three outcomes: We agree terms for the withdrawal…

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View It’s Business As Usual At The Treasury | Finance Bill 2019

It’s Business As Usual At The Treasury | Finance Bill 2019

With all the present upheavals in UK politics it is reassuring that for one government department, the Treasury, it’s business as usual. What’s To Come For The UK Taxpayer Ordinarily, we would expect the next Budget to be presented to parliament in the autumn, usually November. As part of the Budget 2018, certain changes to…

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View What Is Goodwill?

What Is Goodwill?

According to the dictionary goodwill is: a feeling of benevolence, approval, and kindly interest (modifier) resulting from, showing, or designed to show goodwill willingness or acquiescence (Accounting & Book-keeping) accounting  intangible asset is taken into account in assessing the value of an enterprise and reflecting its commercial reputation, customer connections, etc Our Definition Goodwill, as discussed in…

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View Watch: Improve A Businesses Fitness In 2 Minutes

Watch: Improve A Businesses Fitness In 2 Minutes

How much attention do you give to your company’s ability to weather external and internal challenges? Business Challenges If you engage in a systematic, periodic review of your business circumstances, you are more likely to pick up on issues that would be challenging. These challenges can arise from your business’ finances and external factors; witness…

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View Filing Documents With Companies House

Filing Documents With Companies House

In the not too distant past, if you filed a set of accounts for a registered company with Companies House this usually involved sending the required documents using the postal system. Unreliable Systems Inevitably, this involved a certain amount of delay: initially, for the package to find its way from your location to Companies House,…

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View Property Transactions | Legal And Professional Fees

Property Transactions | Legal And Professional Fees

We are often asked to explain: are the professional fees you pay, associated with a property transaction, a tax allowable deduction? The Answer The straight-forward answer is yes. But, it is necessary to consider the reason for which a property is purchased to determine which taxes are reduced by such payments. The Reason Simplistically, if…

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View Building Income Streams | Advice

Building Income Streams | Advice

If you are in business you either buy (manufacture) or sell goods, or you deliver a service based on your personal skills. The Good(s), The Bad If you buy or sell goods there is no reason to believe that once you have achieved a sale to a particular person or business, they will return to…

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View Have you heard of the Prompt Payment Code?

Have you heard of the Prompt Payment Code?

The Prompt Payment Code (Code) is not a fanciful device to access cash from bank machines or a way to secure an automatic “prompt” payment from your customers. Code Of Payment Conduct The Code was actually set up by the Chartered Institute of Credit Management (CICM) on behalf of government in order to promote a…

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View Capital Gains Tax Giveaway? | GHOR

Capital Gains Tax Giveaway? | GHOR

The awkwardly named “Gift Hold-Over Relief” (GHOR) allows you to give away business assets – including certain shares – or sell them for less than they are worth, and not pay (or pay reduced) capital gains tax (CGT). The person receiving the gift will potentially pay CGT when and if they sell the asset at…

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