Read our latest Practice News as well as sector specific and accountancy updates from across the UK.
If you offer a discount to your customers for prompt payment, the VAT treatment in your VAT accounts has become quite tricky. For many years UK legislation has allowed suppliers to account for VAT on the discounted price offered for prompt payment even when that discount was not taken up. An example would be a […]
If you are an employee or a director you typically will have received a notice of coding for the 2015/16 tax year about three months ago. If you haven’t done so already, it is well worthwhile comparing this to the notice of coding for 2014/15. Because if you have a company car and you haven’t […]
From time to time there is a change to the income or corporation tax system which can significantly impact on capital tax planning. Some would argue that the new tax treatment of pension funds is one such change. Where an individual has not bought an annuity, a defined contribution pension fund remains available to pass […]
In recent years, there have been a number of cases before the Employment Appeal Tribunal (EAT) and the Court of Justice of the European Union (ECJ) which show that it can be difficult to calculate the amount of holiday pay due to an employee. Under the Working Time Regulations 1998 (as amended) most workers are […]
The AIA provides a 100% deduction for the cost of most plant and machinery (not cars) purchased by a business, up to an annual limit and is available to most businesses.