A recent report on business funding from specialist bank, Aldermore showed that a lack of funding meant 20% of SMEs missed at least one business opportunity last year. With an average impact of £112,508 per company, those affected worst were businesses with 50-249 employees. Utilising funds and grants is a key part of growth for […]
So Brexit is finally happening. With Article 50 being officially triggered on the 29th March at midday So what does this mean? Are we set for a period of stability and a little more certainty while decisions are made? Or will things shake up as we hear of new laws and business changes? Let’s hope for […]
The Evans Weir spring newsletter is available to download here: Evans Weir Spring Newsletter 2017 In this edition we take a look at: Reclaiming VAT on purchases Marriage allowances Child benefits National Insurance Contributions Pension recycling Salary Sacrifice Electronic PAYE For more information on anything you read in the newsletter, or for tax advice, contact us […]
Every time I turn on the TV or open up a newspaper, headlines are still dominated with two of 2016’s biggest controversies – Trump and Brexit. From Donald’s latest race rant to the next MP fighting against Brexit plans, it feels like we’ve not heard about much else in recent months. But don’t let these […]
Offering employees a small benefit or treat is a method employers use to boost productivity and reward the hard work and commitment of their staff. But, what happens when these small gestures of goodwill start to become unwanted additional tax burdens to the employee? We explore the new trivial benefit tax exemption. Employers will be […]
The VAT Flat Rate scheme can be extremely helpful for businesses with a turnover under £150,000. Moreover, it’s possible to actually generate profit out of the scheme if the flat rate percentage applicable to your sector is particularly favourable. For example, a journalist that pays 12.5% of gross sales as VAT each quarter, doesn’t have […]
Currently, there is a rumour spreading that it’s possible to backdate a dividend to avoid paying the dividend tax that applies from 6 April 2016. Unfortunately, we can confirm this is not true, a dividend simply cannot be backdated. Under current company law the dividend proposal must be voted on by the company’s directors. The […]
Whilst client feedback and timely settlement of our fee invoices is (for the team here) sufficient validation that we continue to meet the needs of our clients and provide a good service at a fair price; you will be pleased to know that as ICAEW (Institute of Chartered Accountants in England and Wales) members we […]
As of 1st January 2015, a new regulation has come into place where VAT on digital products sold in the EU is chargeable in the place of purchase rather than the place of supply. VAT Mini One Stop Shop (MOSS) has been introduced to stop large corporations diverting sales through low-VAT countries. However, regardless of […]
The auto-enrolment staging date is set to come into effect in the following months and we would like to take the time to remind you that you should be fully aware of when your staging date is as well as the effect this will have on your business. Ensuring that the auto-enrolment procedure is adhered […]
Changes to the taxation of dividends, announced in the Summer Budget of 2015, will take effect from 6th April 2016 where the 10% tax credit on dividends will be abolished. The proposed changes introduced will directly affect small companies who pay small salaries followed by march larger dividend payments in order to preserve entitlement to […]
On 16th March Chancellor George Osborne delivered the 2016 Budget and it appears to be a welcome boost for small businesses. April 2017 will see a number of changes to policies including business rates, corporation tax and capital gains tax all of which will help small businesses. Business Rates Business rates have been reformed as […]