Accountancy Blog

Our accountancy blog is updated monthly with our opinions on a variety of issues affecting our clients and the industry sectors we cover.

Tax Efficient Profit Extraction

As the new tax year begins any changes to income tax bands, the personal allowance, National Insurance thresholds and the rate of corporation tax should be considered when looking at how best to extract profits from your personal or family company. From 1 April 2017 the rate of corporation tax reduced from 20% to 19%. […]

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Making Tax Digital – The Story So Far

You should by now be aware of the Government’s push to online tax compliance under the ‘Making Tax Digital’ (MTD) initiative. We believe this will be the biggest shake up in taxation since the introduction of Self-Assessment twenty years ago. Originally announced back in the 2015 budget by George Osborne, HMRC want to modernise the […]

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Child’s Play – Your Childcare Choices Explained

In order to support parents who currently work, wish to return to work or increase their working hours the government has introduced new ways to help with childcare costs. A: Tax Free Childcare Scheme This long awaited scheme will start being slowly rolled out by the government from 28 April 2017 and over time will […]

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Scottish Taxes – An Update

The Scottish Parliament has devolved powers to control certain taxes.  These ‘Scottish Taxes’ are: Fully Devolved Taxes Land and Buildings Transaction Tax Scottish Landfill Tax Air Departure Tax (from April 2018) Partly Devolved Taxes Scottish income tax rates and bands Assignment of taxes: VAT (expected to commence 2019/20) The decision by the Scottish Government to […]

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Can my company get a tax deduction for a parking fine?

Your business makes lots of deliveries by van to clients and quite often drivers have to park on double yellow lines as there is no available parking nearby. The result is quite a lot of Penalty Charge Notices (PCNs) issued by the local authority or the police. Your drivers are instructed to avoid parking in […]

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