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20-03-2019
Keep abreast of Brexit news

Keep abreast of Brexit news

As the Brexit date fast approaches, it seems the only thing we can say with any certainty is that uncertainty continues to plague the issue of our leaving the EU. The negotiations … read more

20-03-2019
Present tax-free company benefits

Present tax-free company benefits

The list of company benefits that can be provided tax-free to employees is quite short. However, some of the benefits that can be provided include the following:

Meals: Free or … read more

20-03-2019
Changes to VAT IT systems if no-deal Brexit

Changes to VAT IT systems if no-deal Brexit

In a letter being sent to businesses across the country, HMRC has published the following information on the effect a no-deal Brexit would have on changes to VAT IT systems.
We … read more

20-03-2019
What is a finance lease?

What is a finance lease?

The definition of a finance lease can be difficult to pin down. In legal form a finance lease is just another lease – the legal ownership of the asset lies with the lessor and the … read more

20-03-2019
Removing your home address from the public register

Removing your home address from the public register

Since April 2018 company directors and other eligible people such as company secretaries, people with significant control (PSC) and LLP members can apply to remove their personal … read more

19-03-2019
Full EU Settlement Scheme roll-out

Full EU Settlement Scheme roll-out

The government has laid a Statement of Changes to the Immigration Rules implementing the full opening of the EU Settlement Scheme from 30 March 2019. The scheme will apply … read more

19-03-2019
2019 Spring Statement: employment implications

2019 Spring Statement: employment implications

In the Spring Statement 2019, the Chancellor of the Exchequer has announced that the apprenticeship reforms set out in the Autumn Budget 2018 will now be introduced a year early. … read more

19-03-2019
Cash basis and capital expenditure

Cash basis and capital expenditure

The cash basis scheme helps many sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme is not open to limited … read more

19-03-2019
Business record keeping for the self-employed

Business record keeping for the self-employed

If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep suitable business records as well as separate personal records of your … read more

14-03-2019
Topping up your self-employed NIC contributions

Topping up your self-employed NIC contributions

In many circumstances it can be beneficial to make voluntary Class 2 National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New … read more

14-03-2019
Lost your Unique Tax Reference number?

Lost your Unique Tax Reference number?

Your Unique Taxpayer Reference (UTR) identifies your tax records at HMRC. The number is also known as your taxpayer number or tax reference number and should be used whenever you … read more

14-03-2019
Treatment of deposits for VAT purposes

Treatment of deposits for VAT purposes

As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when the deposit is received. It is important that businesses ensure that … read more

14-03-2019
What are the badges of trade?

What are the badges of trade?

The ‘badges of trade’ tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side … read more

14-03-2019
Sale of income by an individual

Sale of income by an individual

A capital sum received by an individual in respect of the sale or relinquishment of income to be derived from his or her personal activities, can sometimes be treated as earned … read more

13-03-2019
Employee tax codes 2019-20

Employee tax codes 2019-20

The P9X form is used to notify employers of the tax codes to use for employees. The basic Personal Allowance for the tax year starting 6 April 2019 will be £12,500 and the … read more

13-03-2019
Spring Statement – 13 March 2019

Spring Statement - 13 March 2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government … read more

12-03-2019
Expenditure on building that qualifies as plant

Expenditure on building that qualifies as plant

Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available to sole traders, self-employed … read more

06-03-2019
Are you claiming the Marriage Allowance?

Are you claiming the Marriage Allowance?

HMRC has published a press release to remind qualifying couples to claim the Marriage Allowance. The Marriage Allowance allows lower earning couples to share part of their personal … read more

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    The Accountancy Practice is a Kent based firm specialising in small and medium sized businesses. We provide a friendly, professional service and regard our smallest client as important as our largest.
  • Latest News

    20-03-2019
    Keep abreast of Brexit news

    As the Brexit date ... read more

    20-03-2019
    Present tax-free company benefits

    The list of company ... read more

    20-03-2019
    Changes to VAT IT systems if no-deal Brexit

    In a letter being ... read more

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