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Funding for Lending scheme extended

The Bank of England has announced that the closure of its Funding for Lending scheme for SMEs has been deferred. How might this help your business obtain additional finance?

Extended scheme

At the end of November 2015, and with the backing of the government, the Bank of England extended its Funding for Lending arrangement for banks. It […]

By |December 14th, 2015|Personal Tax, Tax|0 Comments

Autumn Statement- Business rates

 

Business rates. The right to reduced rates for businesses that occupy small commercial premises has been extended. If your business meets the conditions you can claim small business rate relief (SBRR) for 2016/17.

You must claim SBRR, your local council will not grant it automatically.

You can claim Small Business Rates Relief (SBRR) where:

you only use one […]

By |December 14th, 2015|Business Tax|0 Comments

Stamp duty land tax

This week I have had several conversations again this week with clients on this subject following the autumn statement.  So I thought it would be usefull to share some information on it.

This article is a useful one which helps explain the new second home / landlord 3% stamp duty.

http://news.rla.org.uk/stamp-duty-land-tax-how-will-the-hike-affect-me/

If you have any questions about your […]

By |December 4th, 2015|Business Tax, Company Car, Personal Tax, Property Tax, Tax|0 Comments

AUTUMN STATEMENT 25 NOV 15

HIGHLIGHTS

In the first combined Spending Review and Autumn Statement since 2007, the Chancellor’s emphasis was on expenditure. He nevertheless made a range of tax-related announcements, the main ones being:

Stamp duty land tax (SDLT) From 1 April 2016 SDLT rates will be increased by 3% for the purchasers of buy-to-let and second homes. From April 2019, […]

Tax relief at Christmas – A reminder of the rules.

There’s no better time to reward staff and customers than at Christmas. But the tax man is less generous than Santa and there are certain clauses you need to be aware of before you start popping £50 notes into envelopes to hand out over mulled wine round the office tree.

Client entertaining is never an allowable deduction […]

By |November 27th, 2015|Tax|0 Comments

PROPERTY – Avoiding the tax relief trap on buy-to-let loans

To avoid the loss of tax relief on loan interest you’re considering using a company to enter into the buy-to-let market. However, a colleague says this will mean extra tax charges compared with personally owning properties. Is he right?

Buy-to-let tax relief

The buy-to-let market continues to grow and despite ups and downs over the years it […]

By |November 27th, 2015|Property Tax|0 Comments

HMRC Director Jennie Granger reveals new investigations plans

As ‘HMRC Director of General Enforcement and Compliance’, Jennie Granger is ideally placed to give accountants specialising in tax a sneak preview of the revenue’s plans for 2016.  Speaking at the PFP annual conference Ms Granger gave the profession some helpful guidance and some interesting news.

A major theme ofher speech will not come as a […]

By |November 27th, 2015|Tax|0 Comments

Take Cover!

A reminder that our annual Tax investigation cover renews on the 1st January 2016.

If you have not already renewed this or have not yet been offered this, please do contact us to arrange.

It is extremely good value for money, completely tax deduct-able and could potentially save you £000’s, should you be unlucky enough to be selected […]

By |November 23rd, 2015|Tax|0 Comments

The Annual Staff Christmas Do!

It is that time of year again and by now the decision on the location and format of the staff Christmas do has been decided upon.

At Best Accountancy, we decided it would be a good idea to remind the readers of the general rules relating to this expense both from an employees and an employers […]

By |November 23rd, 2015|Business Tax|0 Comments

Too good to be true?

For a number of years now, as a practice, we have been spouting on about the merits of something called EIS/VCT investments for saving Tax.  However it seems that no matter how much we promote these as fantastic options to potentially reduce client’s tax liabilities they are just not taken up as frequent as perhaps they […]

By |November 17th, 2015|Personal Tax, Remuneration Planning, Tax|0 Comments