One of Weybridge’s leading firms of accountants TWP is encouraging businesses to put together a robust business plan after new research suggests some companies don’t have one in place. An official study by the Centre for Economics and Business Research (CEBR) has revealed that 26 per cent of small and medium-sized enterprises (SMEs) do not […]
With 2015 slowly drawing to a close, most people’s focus will be on the festivities in the weeks to come. However, forgetting to prepare for the self-assessment tax return deadline in January could make your year start with a fizzle rather than a bang. Self-assessment taxpayers have until midnight on 31 January 2015 to fill […]
Following news in the previous newswire that interest rates could be cut further if inflation does not rise, the Bank of England has now declared that interest rates will stay low for longer, but warns that household debt is a worry. Mark Carney, Governor of the Bank of England, told the Treasury Select Committee (TSC): “The […]
With high demand and low supply, the buy-to-let (BTL) market is currently flourishing as an investment option. As a result of this surge in demand, lenders are trying to attract new buy-to-let borrowers. However, this surge may be affected by an announcement in the Autumn Statement that stamp duty land tax will be raised by […]
HM Revenue & Customs (HMRC) has updated its list of recognised overseas pension schemes (ROPS). In July, HMRC slashed thousands of overseas schemes from its recognised list after it was revealed that overseas pension schemes across the world were being declared invalid by new tax rules that rendered them unusable if they allowed savers access to their benefits before the age of 55. […]
With the season for workplace parties fast approaching we thought it would be a good idea to remind you of the tax implications of these types of events. The good news is that, unlike entertaining customers, the costs of entertaining employees are generally allowable against the profits of the business. But what about the tax […]
The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions (NIC) through the use of personal service companies and partnerships. The rules do not stop individuals selling their services through either their own personal companies or a partnership. However, they do seek to remove any possible tax advantages from doing […]
The government has published guidance for employers on the use of zero hours contracts. The guidance sets out where zero hours contracts may be appropriate and also sets out alternatives and best practice. The guidance gives examples of where zero hours contracts might be appropriate: new businesses, where demand might be fluctuating and unpredictable seasonal […]
New company car advisory fuel rates have been published which took effect from 1 December 2015. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or […]
Higher SDLT on purchases of additional residential properties Higher rates of SDLT will be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016. The higher rates will be three percentage points above the current SDLT rates. The higher rates will not apply to […]
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