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    Advisory Fuel Rate for Company Cars

      These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2017.   Where there has been a change the previous rate is shown in brackets.   Engine Size Petrol Diesel LPG 1400cc or less 11p 7p 1600cc or less 9p 1401cc to 2000cc 17p 9p 1601 to […]

    in News on July 26, 2017 Comments 0
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    Motor Racing Sponsorship was Tax Deductible

      In order for an expense to be deductible against business profits it must be incurred “wholly and exclusively” for the purposes of the trade.   In a recent tax case a hotel owner near Silverstone sponsored his grand-daughter’s career as a racing driver by making payments through his company. The argument was that this […]

    in News on July 24, 2017 Comments 0
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    One Business or Two for VAT

      A recent VAT Tribunal had to decide whether two hairdressing businesses should be treated as a single business for the purposes of VAT registration.   The distinction was critical as the two separate businesses were operating below the registration limit (currently £85,000) and the combined operation would have exceeded the limit meaning that VAT […]

    in News on July 21, 2017 Comments 0
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    What is this Dementia Tax?

      The Conservative Party Manifesto announcement and subsequent U-Turn on the requirement to pay for social care may have caused many voters to switch their allegiance in the June Election. Although this so-called “Dementia tax” is not strictly a tax, paying for social care has become more important than Inheritance Tax for many families.   […]

    in News on July 19, 2017 Comments 0
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    The Implications of a Hung Parliament

      The result of the General Election has left Teresa May and the Conservative Party clinging on to power with support from the Democratic Unionist Party (DUP) in Northern Ireland. This leads to a period of significant uncertainty for the country as the BREXIT negotiations are just about to start.   Following the General Election […]

    in News on July 17, 2017 Comments 0
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    Strategy – it’s All About the Execution

      Your firm might have the best business strategy but if the management team doesn’t execute that strategy properly, it could fail.   While execution can go wrong for a variety of reasons, one of the most basic mistakes may be failing to allow the strategy to evolve over time. The business world doesn’t stand […]

    in News on July 14, 2017 Comments 0
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    Technology

      As agile working becomes more common, technology has had to adapt to ensure that employees can be productive, regardless of where they are physically located. Many potential new recruits expect some degree of agile working and the leading businesses have already started to adapt in order to appeal to the best candidates. Many firms […]

    in News on July 12, 2017 Comments 0
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    Understanding Your People

      One of the most important tasks in creating a high-performance culture in your business is taking the time to understand your team and their needs. When employees’ needs are met, and they feel aligned with the strategy, vision and values of the firm, they tend to respond with higher levels of engagement and commitment, […]

    in News on July 10, 2017 Comments 0
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    Diary of Main Tax Events July/August 2017

      Date What’s Due 1/07 Corporation tax for year to 30/9/16 (unless pay quarterly) 5/07 Last date for agreeing PAYE settlement agreements for 2016/17 employee benefits 5/07 Deadline for agents and tenants to submit returns of rent paid to non-resident landlords and tax deducted for 2016/17 06/07 Deadline for forms P11D and P11D(b) for 2016/17 […]

    in News on July 7, 2017 Comments 0
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    Risky Business – Good Risks Versus Bad Risks

      From a business perspective, there are good and bad risks. Every opportunity that creates value can be considered a good risk. Bad risks include ignoring regulations or failing to implement effective policies and procedures.   Successful business owners understand when to take a risk and how to balance that decision with the potential reward. […]

    in News on July 5, 2017 Comments 0