by Ray Baxter | Oct 26, 2015 | Business Updates
For the last 43 years firms who registered for VAT were able to claim back VAT paid on stocks and assets held at the date of registration. HMRC have changed its interpretation of the rules to a “pro rata” basis. For example a van bought by a business a year prior to...
by Ray Baxter | Oct 24, 2015 | Business Updates
National minimum wage increased on 1st October from £6.50 to £6.70 for employees aged 21 and over. On 1st April 2016 the National Living Wage will be introduced requiring employers to pay £7.20 per hour to employees aged 25 and over. Also from 6 April 2016 the...
by Ray Baxter | Dec 11, 2014 | Business Updates, Cloud Computing
The Chancellor announced a major reform to Stamp Duty Land Tax in the Autumn statement. He abolished the “slab system” in which the tax tax rate for each price band was charged on the full value. It is replaced by a slightly more complex but progressive...
by Ray Baxter | Oct 28, 2014 | Business Updates
There has been a marked increase in Company formations in the UK. A recent survey of 1,000 micro businesses by Mori cited the main reason for incorporation was the protection which Limited Liability provided (24%). The second main reason was tax and national...
by Ray Baxter | Jul 21, 2014 | Cloud Computing
It’s a historical thing. Accountants over a certain age were trained to accept information once a year from their Clients in whatever form and whatever state the Client felt capable of producing. They were told by their Practise Mentors something like...
