If you intend on filing your self-assessment tax return for 2016/17 sooner rather than later, then you may run into trouble. In April 2017, HMRC highlighted a number of situations in which its tax calculation software is calculating the incorrect amount of tax when tax returns are submitted online using …
“No delay” in Rates Relief Scheme
The Department for Communities and Local Government (DCLG) has given assurance regarding the new discretionary business rates relief scheme n that it will not be delayed by the forthcoming general election. The £300 million relief scheme is designed to help businesses adversely affected by the recent revaluation of commercial properties. …
Making Tax Digital shelved
Making Tax Digital (MTD) shelved! The Treasury has removed 72 of the 136 clauses from the Finance Bill so that they could get it through Parliament before it is dissolved ahead of the General Election. Amongst the key proposals that have been shelved are plans to ‘Make Tax Digital’ by forcing …
Tax experts agree MTD should be ‘parked’
Representatives from the CIOT, ICAEW and ACCA have agreed at a hearing with the Treasury Committee that plans for Making Tax Digital (MTD) should be ‘parked’ until HMRC can provide more clarity about various software and IT issues. However, it was not clear from the hearing whether the MPs are …
Jurassic Jaunts in May
We all know how good a bit of fresh air and some exercise is for us. Here are the Jurassic Jaunts for May for catching up with old friends and making new friends an contacts. A good guided walk, a bit of banter, some social, some networking and maybe even a bit …
New tax forum for start-ups
An online forum for start ups and small business owners has been launched by HMRC. The Small Business Forum is divided into three categories: starting your business, growing your business and managing your business. Registered forum users can post questions about filing tax returns, paying tax and using HMRC’s digital …
Why communication is key in managing business cash flow
In my previous article I outlined some key tips on how to spot cash flow issues before they become a serious problem. As useful as I hope that is, it begs the question as to what processes and techniques businesses should employ to manage that in practice. So here is …
How to spot the warning signs of cash flow issues in your business
There is nothing more important in business than surviving to fight another day. We all have periods of success and growth and lean times where business is stagnant or declines. The most important thing we as business owners can do in the tough spells is give ourselves time to correct the …
HMRC launches Making Tax Digital pilot
HMRC has said that it will invite a number of businesses and agents to sign up for their trial of reporting income and expenses online. Those companies chosen will be using accounting software to record their business income and expenses; sending summary reports of their income and expenses direct from their digital …
LEPs spending needs to be more transparent?
Communities Secretary Sajid Javid has told Local Enterprise Partnership (LEP) leaders that they must make sure that “every penny they spend is transparent and justified”. According to Mr Javid, who was speaking at this year’s LEP Network Conference, this level of accountability is necessary for LEPs to retain the trust …
Convicted for having CCTV on the premises
An employer who installed CCTV on their business premises has been convicted of a criminal offence under the Data Protection Act 1998. If you have or intend to have CCTV on your premises, even if you work from home, you should read this guide to avoid falling foul of the …
Anxiety and Wellbeing at Work
Wellbeing at Work is as vital a component of of the work-space as HR, health & Safety, managing budgets, and so on. Pressure on the job so often leads to anxiety, and rather than view this as a threat, why don’t we just understand it for what it is and use …
Have your business voices heard
Dorset Chamber of Commerce and Industry (DCCI) is urging all firms to have their say in its Quarterly Economic Survey, whether or not they are chamber members. Results from the survey are used to lobby government through the British Chambers of Commerce. They are also fed back to local councils, MPs and …
Take to the skies for Bournemouth Hospital Charity
Bournemouth Hospital Charity (BHC) is looking for daredevils to take to the skies and wing walk to raise money for its Orchard Garden Project. The exhilarating 10 minute experience will take the brave to speeds of 130mph and 10 daring fundraisers have already signed up. BHC is now looking for …
SMEs unprepared for the new Digital Tax regime
Small business owners are not prepared for the introduction of Making Tax Digital (MTD). From April 2018, business owners will have to file digital quarterly tax reports, as well as record their expenses using accounting software that can send updates to HMRC. However, research is revealing that 65% of small …
Reforming the business rates appeal process
The news recently has been full of unfortunate cases illustrating the consequenses of the up and coming business rates review in April this year. Simon Jack, business editor at the BBC says: “Although many businesses are expecting small falls in business rates in April, around a third are expecting very sharp …
Steps to brilliant business mentoring
Why you should have a mentor, and how you both make it work. One definition of business mentoring is: “The development of a one-to-one relationship that helps one person to learn from their own experiences and the experiences of another person to support the development of individuals as entrepreneurs and …
Legionairres and landlords responsibilities
It is the responsibility of landlords to ensure the health and safety of their tenants by keeping the rental property safe and free from hazards. The Health and Safety Executive (HSE) on their own website have reminded landlords of their responsibility in relation to Legionairres disease. They define . . .
Don’t be like Goeff
Thousands of people have lost their life savings after falling for a pension scam Don’t be next Scammers are after your pension pot. They know you can now access your savings in new ways and will try to lure you with promises of upfront cash and one-off ‘deals’ with guaranteed …