Bribery and corruption – the hidden social evil on your doorstep

by Jessica Garbett | Jul 22, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA New ACCA report delves into the impact on SMEs Delve into the true extent of how bribery and corruption impacts SMEs across the world and...

The abolishment of multiple dwellings relief

by Jessica Garbett | Jul 22, 2024 | ACCA, business taxation, capital taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Understand the implications for landlords Multiple Dwellings Relief (MDR) has been a significant tax relief for landlords and property...

LLP salaried members’ tax rules

by Jessica Garbett | Jul 17, 2024 | ACCA, business taxation, financial reporting

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA A reminder in light of HMRC’s recent crackdown A recent change in HMRC’s partnership manual at PM259310 may be a cause for concern for...

The new LLP SORP 2024

by Jessica Garbett | Jul 15, 2024 | ACCA, financial reporting

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA LLPs will need to invest in updating their accounting practices and systems The new LLP SORP is effective for periods commencing on or after...

Change to Website Terms of Use

by Jessica Garbett | Jul 12, 2024 | administration

We have recently made some changes to the terms of use for our websites. As part of these changes, the publisher and controller of our websites is now Whitefield Websites LLP. Our new Website Terms of Use are: Our websites, www.whitefieldtax.co.uk and...

Distributions on winding up a company

by Jessica Garbett | Jul 10, 2024 | ACCA, business taxation, capital taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA What to include on the tax return There are many reasons why a company is dissolved, ranging from insolvency to simply having come to the end...

Seven in ten workers unaware of new flexible working law

by Jessica Garbett | Jul 8, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Research by Acas also finds low level of awareness among almost half of employers From 6 April 2024, new laws give UK employees the right to...

Update on MTD for ITSA

by Jessica Garbett | Jul 3, 2024 | ACCA, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA What businesses need to know Digitalisation of tax is a huge focus for the UK government. Making Tax Digital (MTD) for VAT is already running...

P11D: avoid late-submission penalties

by Jessica Garbett | Jul 1, 2024 | ACCA, business taxation, employer returns

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Why it pays to be on time – plus reasonable excuses for appealing HMRC can charge penalties if P11D Expenses and Benefits are not received by...

‘Green lease’ toolkit updated

by Jessica Garbett | Jun 25, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Landlords, tenants, property agents, investors, lenders and professional advisors will welcome updates to the Better Buildings Partnership...

Check if you have paid enough NI to get the full state pension

by Jessica Garbett | Jun 20, 2024 | ACCA, pensions, personal taxatation

Use the new online service to see if there are any national insurance gaps The Check your State Pension forecast allows British tax payers to view gaps in their NI record and pay voluntary contributions to fill those gaps, if it will benefit them. The new digital...

Benefit in kind rules for loans

by Jessica Garbett | Jun 18, 2024 | ACCA, business taxation, employer returns, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Understand the basics of interest-free loans for P11D purposes An interest-free loan to an employee (or director) is chargeable to tax if it...

How Do Recent Tax Changes Impact Choice of Business Structure? Part 2 – Director Salary Levels

by Jessica Garbett | Jun 18, 2024 | business taxation

In this first part of this article, we considered the question: “Many business owners ask “Would I be better off as a Limited Company?” or if already trading via a Limited Company the opposite question, “Would I be better off as a Sole...

Companies House changes for ECCTA implementation

by Jessica Garbett | Jun 13, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA A summary of the key changes at Companies House The Economic Crime and Corporate Transparency Act (ECCTA) was passed into UK law in October...

Living accommodation as a taxable benefit

by Jessica Garbett | Jun 11, 2024 | ACCA, business taxation, employer returns, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA A review of this benefit in kind, including proforma examples A charge to tax (ITEPA 2003 Part 3 Chapter 5) arises when an employee is...