Speech recognition applications have been around for a long time but until recently haven’t seen a huge uptake by the business community. With high accuracy and professional apps available for mobile devices, is voice recognition a technology that your business could make effective use of today?   Many business users may have already experienced what voice recognition can offer. Apple’s Siri is already quite popular but Windows 10 users

It may be possible to delay paying Capital Gains Tax (CGT) if you sell a business asset that is subject to a charge to CGT, but you use all or part of the proceeds to buy new business assets. The relief you can claim is called Rollover Relief.   This relief means you won’t usually pay any CGT until you sell the new, replacement asset. Depending on the circumstances of

  The length of time you need to keep tax records depends on the types of income you earn and the types of tax you are paying. A list of time limits is set out below:   Income Tax and Capital Gains Tax   If you are not in business One year from the 31 January following the end of the tax year. For 2016-17, you would need to keep

  We have received enquiries from a number of clients, concerned that HMRC is going to try and tax them for the small amounts of cash that they make from pursuing hobbies. For example, buying and selling on eBay or setting up stalls at their local drive in markets – car boot sales.   If you establish a regular pattern of making money in this way, and in fact turn

  The government is concerned that many small companies are missing out on generous R&D tax credits. For the last year HMRC have been offering companies an advance assurance scheme to check whether or not their activities qualify before they make a claim. So far over 200 applications for advance assurance have been made.   There is a general misconception that R&D involves scientists in white coats but it should

  Where credit card sales have been omitted from business takings, HMRC are encouraging taxpayers to come forward and make a disclosure of the income that has been omitted to avoid incurring interest and penalties on top of the unpaid tax.   As you may be aware HMRC now receive information from third parties such as banks and credit card companies and will then match that data with business accounts,

  From 6 April 2016 new rules were introduced to allow employers to provide their directors and employees with certain “trivial” benefits in kind, tax-free.   The new rules are a simplification measure so that certain benefits in kind will not need to be reported to HMRC, as well as being tax free for the employee. There are of course a number of conditions that need to be satisfied to

  Ever since 6 April 2015 employment agencies and other intermediaries have been required to make quarterly reports of payments made directly to workers or via partnerships, LLPs and companies where no tax has been deducted from the payments.   HMRC have recently updated their guidance to intermediaries to make it clear that, where an employment intermediary has supplied no workers in a specific quarter, a “nil report” must still

  These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 September 2016. Where there has been a change the previous rate is shown in brackets.     You can continue to use the previous rates for up to 1 month from the date the new rates apply.   VAT Implications of Employee Mileage Claims   Note that where employers reimburse their employees 45p

  From 2016/17 onwards farmers now have the option to smooth out their profits over two or five tax years as the result of a change in Finance Act 2016.   Farmers’ and market gardeners’ profits often fluctuate wildly from one year to the next and the tax rules for many years have allowed them to average their profits in order to smooth out those fluctuations.   It is expected