News and Comment - Page 64 of 96 - Whitefield Tax - Isle of Wight Accountants

Updated guidance on financial sanctions enforcement

by Jessica Garbett | Aug 18, 2017 | ACCA, business issues

The government has extended powers to act against those who don’t report information that could undermine UK financial sanctions. All businesses, organisations and individuals have an obligation under financial sanctions regulations to report information which...

Discover the value of intellectual property

by Jessica Garbett | Aug 17, 2017 | ACCA, business issues

Join the Intellectual Property Office for a free webinar on 12 September when David Hopkins of the IPO will cover the four main areas of intellectual property and build your understanding of the free online tools available from the IPO. Register here. Beforehand, we...

Auto Enrolment – Enrol staff before processing opt outs

by Jessica Garbett | Aug 17, 2017 | pension reform, pensions

The Pensions Regulator has issued a brief this week, “Staff need to be enrolled before they can opt out” As outlined in our latest compliance and enforcement bulletin, during the inspections we’ve been carrying out across the country we came across a...

Charity audits under review

by Jessica Garbett | Jul 31, 2017 | ACCA, financial reporting

FRC asks for comments on proposed changes that reflect developments in legislation and regulation The Financial Reporting Council (FRC) has asked for comments on its proposed revisions to Practice Note 11: The audit of charities in the United Kingdom, by 25 August. It...

Business-splitting to avoid VAT: HMRC loses the latest round

by Jessica Garbett | Jul 27, 2017 | ACCA, VAT

Husband and wife’s appeal for hairdressing companies to be treated separately is allowed Background Couples can often run similar businesses separately. HMRC can and has viewed these as artificial separations and looks to combine the businesses. In many cases the...

Auto-enrolment for new employers

by Jessica Garbett | Jul 24, 2017 | ACCA, pension reform

Existing businesses that previously had no employees are also affected From October, new employers, which will include all new limited companies, will have instant pension duties and obligations. These businesses will need to put pension plans in place. The extension...

Auto-enrolment: ignore at your peril!

by Jessica Garbett | Jul 20, 2017 | ACCA, pension reform

Pensions Regulator fines Johnsons Shoes Company £42,000 for failing to meet enrolment deadline The Johnsons Shoes Company fine shows how ignoring auto-enrolment duties is ill-advised. Ignoring The Pensions Regulator ended up costing the company £42,400! In its case...

Tempted to run a Social Enterprise or Charity?

by Jessica Garbett | Jul 19, 2017 | business issues

As businesses mature, and peoples priorities change, thoughts often turn to Social Enterprises and Charities, both for existing businesses and new ventures. We’ve written a new guide about how these work, and some of the pros and cons. You can read our guide...

Demystifying interest-free and below-market-rate loans

by Jessica Garbett | Jul 17, 2017 | ACCA, financial reporting

Terms vary depending on the nature of the finance and the recipient The accounting recognition for interest-free and below-market-rate loans is an area that has caused difficulty for many advisers and businesses. Most loans are basic financial instruments accounted...

Making Tax Digital Deferral

by Jessica Garbett | Jul 14, 2017 | business taxation, HMRC, politics

A bit of good news for a summer Friday morning. Yesterday – Thursday 13 July – the Government announced a deferral in the timescales for the ambitious Making Tax Digital programme – the one where businesses would have to submit quarterly figures...

Quick second update: capital gains tax relief for let property

by Jessica Garbett | Jul 13, 2017 | ACCA, capital taxation, property taxation

Gathering information in advance is advisable Let property relief can reduce capital gains tax and is an important consideration when clients have let out residential property. The information needed can be difficult to find out and it is often easier to collect in...

A garden by any other name – CGT Permitted Area

by Jessica Garbett | Jul 10, 2017 | ACCA, capital taxation, property taxation

The ‘permitted area’ around a residential property qualifies for private residence relief from capital gains tax The area of garden and grounds of a person’s residence that qualifies for capital gains tax relief is referred to in the legislation as the ‘permitted...

Some Feedback We Received

by Jessica Garbett | Jul 10, 2017 | administration

Its nice to get feedback from clients, and this is something sent to us recently – we have permission to share: I just wanted to say thanks to you all for your helping me over the last 16 years. It’s been an absolute pleasure dealing with you always. You manage...

Understanding the dangers of trading while insolvent

by Jessica Garbett | Jul 6, 2017 | ACCA, business issues

Inattentive directors are putting their companies at risk When a company – for whatever reason – encounters financial difficulties it is vitally important that the directors act quickly. If the company is seen as trading insolvently it may lead to accusations of...

P11D deadline is approaching: are you up to date?

by Jessica Garbett | Jul 4, 2017 | ACCA, employer returns

Use our guide, including helpful Q&As, to understand the new rules Since 6 April 2016 new rules for P11Ds have been in place. This is the first year when P11Ds are going to be submitted after the change. Here’s a recap of the main changes: 1 ...

Updated guidance on financial sanctions enforcement

Discover the value of intellectual property

Auto Enrolment – Enrol staff before processing opt outs

Charity audits under review

Business-splitting to avoid VAT: HMRC loses the latest round

Auto-enrolment for new employers

Auto-enrolment: ignore at your peril!

Tempted to run a Social Enterprise or Charity?

Demystifying interest-free and below-market-rate loans

Making Tax Digital Deferral

Quick second update: capital gains tax relief for let property

A garden by any other name – CGT Permitted Area

Some Feedback We Received

Understanding the dangers of trading while insolvent

P11D deadline is approaching: are you up to date?

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