Changes to Principal Private Resident’s tax treatment from 6th April 2020

Now that the summary of responses on the Government’s Principal Private Residence Relief consultation has been published, we wanted to take the opportunity to confirm the taxation reforms that are coming into effect on 6 April 2020 in relation to disposals of property that have at some time been your Principal Private Residence. Currently, the[…]

Tapered annual allowance

How it affects high net-worth individuals The tapered annual pension allowance for high net-worth individuals was in the headlines again recently. Concerns were raised that its impact on doctors within the NHS pension scheme is prompting high-earning NHS staff to leave their posts or reduce their hours. In December 2018, it was reported that the[…]

Identifying inefficiencies in a business

Avoiding waste, maximising profit Accountants, as a breed, are fans of efficiency. We tend to appreciate optimised systems and abhor waste, whether it’s time, effort or resources being frittered away. The concept of efficiency as we know it today is a product of the industrial revolution. That’s when engineers and manufacturers became obsessed with squeezing[…]

The scourge of late payments

Outstanding invoices compromise your business’s cashflow When you supply goods and services, you expect to be paid, and promptly, but Britain has a deeply embedded culture of late payments. Indeed, for some businesses, delaying payment is an essential part of the business model. Outstanding payments are problematic for various reasons. First, there’s the basic problem[…]

Tax implications of working from home

Advice for contractors and the self-employed Working from home offers all kinds of benefits, from the opportunity to create the perfect environment in which you can be most productive, to the improvements to work-life balance that come with ditching the commute. There are advantages for businesses, too, assuming they trust their employees to work without[…]

Risk assessment and contingency planning

How to minimise disruption in your business It has been a challenging and eventful three years for UK businesses with a series of high-profile incidents highlighting how situations can change suddenly and often without warning. From the continued pressure of uncertainty relating to Brexit, terrorism, fire, extreme weather and cyber-attacks, how would your business cope[…]

Accounting for charities

An overview of accountancy issues in the third sector If you’re in charge of running a charity, you will know how it differs from operating a business and how its motives and goals vary. Non-profit organisations are treated very differently under the law, and managing a charity’s accounts can offer some unique challenges as a[…]