Directors’ disqualifications

Two recent cases have highlighted directors who were disqualified and banned from being company directors and from being involved in the management of a limited company in any way. The first was for 12 years for selling rare earth elements as an investment and failing...

Client question – Community Event

We were asked: “We are taking over the running of a local community event. We ran it once before as a CIC, but this was complicated in terms of admin and we want to do it as simply as possible. It’s pretty simple. People pay a fee. We have to pay the space...

VAT flat rate scheme: revised HMRC guidance

An update to VAT Notice 733 ‘Flat rate scheme for small businesses’ was issued on 4 May 2016. According to HMRC the purpose of this was to ‘make the notice more suitable for publication on GOV.UK’. The update includes some minor amendments to various paragraphs....

Your view: tax coding notice

HMRC is seeking your comments on an early draft of Tax Coding Notice (P2). After digesting the information below and also elsewhere online, do you feel it provides sufficient detail for you or your clients to be useful? HMRC says ‘The HMRC Personal Tax Account...

RTI penalty concession extended

Reported on Accounting Web today, the “soft landing” for RTI penalty regime has been extended from April 2016 to April 2017. Employers shouldn’t be complacent of course, but its a welcome sign of common sense from HMRC as the comparatively new system...

Going concern

The FRC has issued guidance on going concern to assist both SMEs and larger entities. Guidance on the Going Concern Basis of Accounting and Reporting on Solvency and Liquidity Risks: Guidance for directors of companies that do not apply The UK Corporate Governance...
Whitefield Tax - Isle of Wight Accountants - IR35 specialists
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