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18-10-2018
Anti-money laundering rules

Anti-money laundering rules

The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by … read more

18-10-2018
New style £50 note to be introduced

New style £50 note to be introduced

In a joint statement issued by HM Treasury and the Bank of England it had been confirmed that the £50 note is to continue to be part of the UK currency. The new £50 note will be … read more

18-10-2018
Tax to pay if you exceed the annual pensions allowance

Tax to pay if you exceed the annual pensions allowance

The annual allowance for tax relief on pensions has been fixed at the current level of £40,000 since 6 April 2014. The previous allowance was £50,000 and prior to 6 April 2011, the … read more

18-10-2018
Son’s failed investment in father’s company

Son’s failed investment in father’s company

A recent Upper Tribunal case examined whether a sole trader operating a skip hire business was entitled to Income Tax relief on irrecoverable loans made to a company. The company … read more

18-10-2018
Electing not to have Incorporation Relief

Electing not to have Incorporation Relief

If a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market … read more

18-10-2018
Tapering of residence nil rate band

Tapering of residence nil rate band

The Inheritance Tax main residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB is a transferable allowance for married couples and civil partners (per person) … read more

18-10-2018
Finance (No.3) Bill and the Budget

Finance (No.3) Bill and the Budget

The Financial Secretary to the Treasury, Mel Stride has confirmed that the government will publish Finance (No.3) Bill on Wednesday, 7 November 2018. The Bill is so named as it is … read more

18-10-2018
MTD for VAT pilot extended

MTD for VAT pilot extended

The introduction of Making Tax Digital (MTD) for VAT is fast approaching. From April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) … read more

15-10-2018
Data protection self-assessment checklist launched for small business owners

Data protection self-assessment checklist launched for small business owners

The Information Commissioner’s Office (ICO) has launched a self-assessment checklist to help small business owners and sole traders to assess their compliance with the GDPR and the … read more

11-10-2018
Company director imprisoned

Company director imprisoned

A director of a company that manufactured security systems has been found guilty of two counts of fraudulent trading and one count of fraudulently removing property in anticipation … read more

11-10-2018
The end of late payments by large organisations?

The end of late payments by large organisations?

The government has been trying to combat the widespread issue of large businesses abusing their position by making late payments to small businesses. This initiative has included … read more

11-10-2018
Importing from non-EU countries

Importing from non-EU countries

There are special rules for businesses that import goods from non-EU countries. Whilst most smaller businesses importing goods will use a courier or freight forwarder it is still … read more

11-10-2018
Self-assessment filing deadline

Self-assessment filing deadline

The 2017-18 tax return deadline for taxpayers using a paper self-assessment return is 31 October 2018. Late submission of a self-assessment return will become liable to a £100 late … read more

11-10-2018
VAT – option to tax

VAT - option to tax

There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means … read more

11-10-2018
Companies and trading losses

Companies and trading losses

Corporation Tax relief may be available when a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offset against other gains … read more

11-10-2018
The Digital Disclosure Service

The Digital Disclosure Service

HMRC has used targeted campaigns to recover underpaid taxes and penalties from specific sectors and industries where significant underpayment of tax has been identified. The use of … read more

11-10-2018
Genuine messages from HMRC

Genuine messages from HMRC

HMRC has issued an updated version of their online guidance on Genuine HMRC contact and recognising phishing emails and texts. The guidance provides a current list of genuine … read more

03-10-2018
Charity filing deadline approaching

Charity filing deadline approaching

The Charity Commission has warned charities that the deadline for submitting the 2017 annual return is fast approaching. The deadline for charities with a standard 12-month … 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

    18-10-2018
    Anti-money laundering rules

    The Money Laundering ... read more

    18-10-2018
    New style £50 note to be introduced

    In a joint statement ... read more

    18-10-2018
    Tax to pay if you exceed the annual pensions allowance

    The annual allowance ... read more

    More news

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