There's not much joy in the Christmas air right now with the Brexit deal seemingly beyond our grasp. Business is nothing if not adaptable but it would be good to know at this stage what we are adapting to! The uncertainty caused by the delay runs the risk of cooling the economy but the uncertainty [...]
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So far Ian Holmes has created 30 blog entries.
Two changes to the private residence relief for capital gains tax ('CGT'), announced in October's Budget, could have a significant impact on tax liabilities for rented properties sold after 5 April 2020. Many rental properties have previously been occupied by the owners as their homes. This can arise for a number of reasons; the owners [...]
For the second year, we attended Xero's yearly conference in the London ExCel – The UK's largest accounting convention with over 3,000 professionals in attendance! This is the best place to learn about the latest developments in the Xero ecosystem and demo the newest add-ons, apps and integrations. It allows us to remain at the [...]
One of the few notable announcements in the Budget on 29 October 2018, introduces significant changes to the qualifying conditions for entrepreneurs' relief. One fundamental change came into effect immediately with others coming into effect from 6 April 2019. Before the budget announcement the basic conditions for a shareholder to claim entrepreneurs' relief on a [...]
Overview The Chancellor claims that the era of austerity is coming to an end, and there are substantial spending commitments, both in tax cuts and spending, most notably the NHS and Universal Credit – but all bets are off if there is a no deal Brexit. There follows a brief summary of the key points, [...]
Increasingly our expertise is in demand in Bristol's burgeoning technology sector. Bristol has been placed among Europe's top 10 tech 'super clusters' in a recent survey. Employment in Bristol's tech sector has grown by 25% since 2008. We believe Bristol's technology profile will grow in 2019, following trends of previous years. In 2017, the City [...]
What is Making Tax Digital? From 1 April 2018, VAT-registered businesses with a taxable turnover of over £85,000 will be required to keep their VAT records digitally and submit VAT returns using Making Tax Digital (MTD) compatible software. At present, only 11% percent of VAT returns are filed with software. Under the new regulations, it [...]
Despite having to redirect resources to deal with ever increasing pressures from Brexit, and calls to further delay the implementation, HMRC are persevering with their digital revolution - Making Tax Digital (MTD) – starting with MTD for VAT taking effect from 1 April 2019. This will see VAT-registered businesses having to comply with new legislation [...]
When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from certain tax reliefs which wouldn't otherwise be available to residential landlords, providing certain conditions are met. However, there are also several disadvantages associated with letting property as holiday accommodation whether or not the furnished holiday letting conditions [...]
We’re delighted to announce that we have been appointed as a Xero Gold Partner which means we can help you achieve more success in your business by adopting this innovative, cloud-based accounting software solution. Contact us today to find out more about how Xero could help make running your business so much easier. For those [...]