Accounting, Business and Tax News Stories and Updates

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29-09-2020
Excuse v apology
We have all been in situations where we have received bad service. For example, you place an order in a busy restaurant and notice that folks who had arrived after you were receiving their order Read more..

25-09-2020
The new Winter Economy Plan - Summary of Measures
The Chancellor, Rishi Sunak, has today delivered a statement to the House of Commons outlining plans to help protect jobs across the UK whilst the country faces a resurgence of coronavirus and a Read more..

24-09-2020
Venues required to record contact details
It has become a requirement for premises and venues across England to have a system in place to record contact details of their customers, visitors and staff. This move is intended to help trace Read more..

24-09-2020
Changes to duty free shopping
The government has published the new rules for duty free and tax free shopping that will come into effect from 1 January 2021. The changes are wide ranging. For anyone who smokes or drinks there will Read more..

24-09-2020
Claiming tax relief for work related expenses
Employees who need to buy equipment to use as part of their employment may be able to claim tax relief based on the cost of the equipment acquired. In most cases you can claim tax relief on the full Read more..

24-09-2020
Removing your home address from the public register
Company directors and other eligible people such as company secretaries, people with significant control (PSC) and LLP members can apply to remove their personal addresses from the UK’s official Read more..

24-09-2020
Companies in partnership
A Partnership is a relatively simple way for two or more legal persons to set up and run a business together with a view to profit. Partnerships can take many forms. Legal persons other than Read more..

24-09-2020
Definition of a potentially exempt transfer
The majority of gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or Read more..

24-09-2020
When the cash basis is not available to a property business
The cash basis scheme helps landlords, sole traders and other unincorporated businesses to benefit from a simpler way of managing their financial affairs. The scheme is not open to limited companies Read more..

23-09-2020
Mothballing your business assets
Mothballing as used in a business sense is usually defined as to stop using a piece of equipment or process, and then storing and preserving mothballed assets for later use. Many business owners are Read more..