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 health.(more…)
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 paid within this 30-day period.(more…)
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 put in the accounts as a fixed asset?(more…)
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 may become suspicious and decide to investigate.(more…)
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.(more…)
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.(more…)
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. VAT is therefore accounted for on the full value of each instalment.(more…)
So why would we want to do a time study for the Admin/support team, after all they are a non-chargeable resource?(more…)
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 deal with the development side of the business.(more…)
We are very pleased to announce a few very important and well-deserved promotions within our staff team at Charnwood Accountants.(more…)
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