Tag Archives: Accounting for the Money
How to Maximise Your Capital Allowances
Any business can claim tax allowances, called capital allowances, on certain purchases or investments. This results in a reduction in the business tax bill – which can’t be bad.
In general capital allowances are available on plant and machinery, buildings – including converting space above commercial premises to flats for renting – and research and development. [...]
What Is Transfer Pricing?
“Transfer pricing” is an increasingly important and contentious area of international tax law. This is because so much of modern world trade involves the transfer of goods, intangibles or services within multinational enterprises (MNEs) – groups of companies or related businesses based in 2 or more countries.
Such international trade offers scope for an MNE to [...]
Taxman Faces Writs for VAT Errors
HM Revenue & Customs are facing a flood of legal claims that will blow another massive hole in the public finances.
In the past few weeks thousands of High Court claims have been lodges by companies and local councils relating to millions of pounds of interest wrongly charged by HMRC.
When HMRC makes a repayment to a [...]
What Was the Point of IR35?
The controversial tax which was introduced by Gordon Brown shortly after he became Chancellor has proven to cost far more to administer than the cash it has raised.
Gordon Brown has long had the typical socialist view of business owners which sees them all as crooks only concerned with paying as little tax as possible. Tax that [...]
Accounts Demystified
Accounting is viewed by most non accountants as a complicated and highly technical matter, and this is a view that is encouranged by the accountancy profession. But the truth is that it is based on a very simple principal which once understood allows business owners and managers to understand the financial state of their business without [...]
Full StoryHow To Close Down Your Limited Company
In the UK it is remarkably easy and cheap to form a limited company. For less than £100, perhaps even less than £50, you can have a company formed in a matter of hours. This compares to the situation in many other EC countries where the costs can run into thousands and it can take [...]
Full StoryUniversities Offer Help to SMEs in Credit Crisis
A New Publication – Standing together: universities helping business through the downturn, has been put together by Universities UK, as the major representative body for the higher education sector, with the assistance of the Higher Education Funding Council for England (HEFCE).
It sets out the kind of support universities and colleges can offer employers, both in [...]
