All Change At The Government’s Business Department

In July, the Prime Minister, Theresa May, made a major overhaul of the departments responsible for business. The new department overseeing business matters is the Department for Business, Energy and Industrial Strategy. This is quite a mouthful. Its acronym is BEIS. It has been created by merging the Department for Business, Innovation and Skills (BIS) and the Department of Energy and Climate Change (DECC).

Why Use the New HMRC Online Application Process for VAT Annual Accounting?

14 November 2016

HMRC has introduced an online application process for VAT annual accounting, consistent with its ‘Making Tax Digital’ plans. This looks to be good news as it will reduce the administrative burden HMRC places on businesses. The purpose of the scheme is to aid cash flow and budgeting.

Does a Trump Win Impact UK Taxpayers?

10 November 2016

Well… that was a surprise! The second big political shock of 2016 has occurred across the pond.

Driving into our Truro office on Wednesday morning listening to Donald Trump’s acceptance speech, I found myself reflecting on what impact The Trump Plan might have on the UK taxpayer.

Making Tax Digital – Important Update

3 November 2016

In 2015 the government announced major plans to modernise the tax administration system by introducing digital services for tax.

Steve Maggs gives detail of all the major changes you need to be aware of.

Increase in take-up of R&D Tax Relief – are you missing out?

1 November 2016

HMRC’s latest statistics show that companies claiming Research and Development tax relief increased in 2014/15 – could you be missing out?

Independent Examination in England and Wales

With the increase in audit thresholds to £1,000,000 of income, significant numbers of additional charities will now fall within the bands which permit independent examination of their financial statements.

Automatic Data Exchange

The Common Reporting Standard (CRS) is an information standard for the automatic exchange of information and requires certain institutions to collect and report data to HMRC for exchange with other countries.

Power to Disqualify – Consultation

The CCEW have the statutory power to disqualify individuals from acting as a trustee, which would also disqualify such individuals from holding senior management positions within the charity or charities concerned. The power enables the CCEW to disqualify, for a proportionate period, individuals who are unfit to be a trustee so as to protect an individual charity, charities in general or other trustees and the public.

Official Warnings – Consultation

The CCEW is consulting on how they propose to use new powers to issue an official warning where they consider there has been a breach of trust or duty or other misconduct or mismanagement within a charity.