Posts Categorized: Accounts and Audit

8 Ways to Improve Your Mental Health

8 ways to improve your mental health

In these current, troubling socio-economic times, we are seeing the nation’s anxiety levels rise to an all-time high. Every day on the news, it seems as if there’s a new disaster unfolding before our eyes. On top of the usual day-to-day stress and work-life pressures, its little wonder many people are struggling with their mental… Read more »

Reporting Capital Gains on UK Residential Property

capital gains tax on residential properties

There are changes coming into force from 6 April 2020 on the reporting of disposals of UK residential property to HMRC. Capital gains will have to be reported using HMRC’s online, real-time service within 30 days of completion of the sale. An estimate of the tax due on the disposal will also have to be… Read more »

Capital allowances on an office fit out

Capital Allowances on Office refits

Great news! That shiny new office fit out as well as looking amazing can also save you some tax! Most people are aware that they get tax deductions for what is deemed a ‘repair’ and goes through their profit and loss account. But what about the extensive investment in the office refit which has been… Read more »

What Does HMRC Know About You?

What do HMRC know about you?

In today’s connected world, it is all too easy to retrieve information about our lives. Did you know that HMRC can check and compare information about you, which includes what you are posting on social media? If it looks like you are living a lavish lifestyle that does not equate with your income, then HMRC… Read more »

Business Entertaining – VAT & Corporation Tax

Business Entertaining - What can you claim for?

Over the festive period, most businesses will have enjoyed some time out with their employees at Christmas parties. Often, such events can also involve entertaining customers and suppliers. However, there can be some confusion when it comes to claiming VAT and Corporation Tax (CT) relief on business entertaining.

2019 – The Year in Review

Charnwood Accountants - Review of the Year 2019

And in the blink of an eye, another year has gone and somehow, we’re in 2020! 20 years since we ushered in the start of a new Millennium and 16 years since Charnwood Accountants was launched.

VAT Changes to PCP Contracts for leasing

VAT Changes to PCP Contracts for leasing

In summary, the correct treatment of Personal Contract Purchases (PCP) and similar contracts depends upon the level of the final optional payment. If, at the start of the contract, it is set at a level where that final payment would be greater than the market value, it is classed as a supply of a service…. Read more »

Delegation and Time Management

Delegation and Time Management

The key to any successful practice is to find a balance between working on the business and in the business. If you want to grow your practice, effective time management is crucial. However, when we speak to the partners of the firms we work with, they tell us they simply don’t have enough time to… Read more »

Brexit and VAT MOSS (Mini One Stop Shop) Scheme

Brexit & VAT MOSS Scheme

Despite the further delay to Brexit, B2C suppliers of electronically supplied digital services still need to be aware of rules relating to the VAT MOSS (Mini One Stop Shop) scheme. As it currently stands, if we leave the EU on 31stJanuary without a deal, HMRC’s advice is that UK businesses will no longer be able… Read more »

Debt Recovery and Cash Flow Management

Debt Recovery and Cash Flow Management

As well as winning new business, cash flow should be the top priority for solicitors. Effective cash flow management is the foundation of any successful practice. As they say, “cash is king” and never has this been more relevant than in today’s volatile economic climate.