HMRC and IR35

Since IR35 was first introduced in 1999 it has singularly failed to achieve its aim of increasing tax take from contractors who use Personal Service Companies (PSC) to contract through, either with end users of their services or via agencies. IR35 was intended to “see through” a situation where a PSC was inserted between a contractor and an end user …

Northwich office MBL

HMRC target sales of second homes

This new campaign targets those who have sold a property that is not their main residence and who have not declared any profits as a result.   It is aimed at those selling homes in the UK or abroad where capital gains tax should have been paid.  This would include for example buy to let or a holiday home. HMRC have …

The Budget…. Time for a drink

The Chancellors are allowed to refresh themselves with an alcoholic drink during their budget speech – no other Member of Parliament can do so.   It is interesting to review the choices that have been made:-   Whisky                                        Kenneth Clarke Gin & Tonic                                Geoffrey Howe Brandy                                        Winston Churchill and Benjamin Disraeli Sherry and Beaten Egg             William Gladstone Spritzer                                       Nigel Lawson Rum & …

The One Show comes to Altrincham

Having been President of the Altrincham and Sale Chamber of Commerce for the last 2 years, I am sure many readers will be sick of seeing my picture in the press! However, my 15 minutes of fame may well have been extended to a very brief TV appearance!   Last week The One Show spent the day recording in Altrincham …

Boston Marathon update

As you know I am running the Boston Marathon on Monday 15th April to raise much needed funds for the Childrens Adventure Farmwww.caft.co.uk   I thought that this update might be of interest! So far, thanks to very kind donations, almost £1400 has been raised for CAFT. Thank you to all who have donated but if anyone else would like …

Claims for Research & Development tax relief

Claims for Research and Development tax relief are very often overlooked by Accountants that don’t understand their clients businesses properly and by businesses who don’t think they are undertaking qualifying activities.   The relief is incredibly valuable at 225% of qualifying expenditure being deductable from profits and loss-making Companies being able to turn the relief into a cash tax refund …

Charities online

Yet more good news for Charities and Community Amateur Sports Clubs – Charities online commences 23 April 2013.   From 23 April 2013 Charities and Community Amateur Sports Clubs can enrol to make repayment claims electronically. This will make claims easier and quicker. Donor information will need to be completed in the correct format which will be published on the …

General Anti Abuse Rule (GAAR)

Tax Avoidance and the new General Anti Abuse Rule (GAAR) are very much flavour of the month and making consistent headlines most recently with Margaret Hodge MP in an article published in the Guardian.   http://www.guardian.co.uk/business/2013/feb/19/margaret-hodge-tax-avoidance-treasury-loss   Mrs Hodge states that tax avoidance costs £5b per annum and, before the Public Accounts Committee (presumably with the benefit of immunity from …