Finance

/Finance

Brexit is, well maybe, probably, almost definitely happening

Here’s what your business needs to do to prepare

After over two years of uncertainty concerning the UK’s departure from the European Union, Brexit is finally due to happen on 31 October. We are still no clearer on whether the UK government will be able to negotiate a deal, or we leave with a no-deal Brexit. Either way one thing is for sure – if you’re a UK business trading within the EU and/or the rest of the world,

Changes to Private Residence Relief affecting Income from Property

Selling a property is considered to be one of the most stressful times in a person’s life. So, when help comes along in the form of tax exemption, like principal private residence relief (PRR), it can make the experience a little easier to bear. However, following the 2018 autumn budget announcement, the proposal was made to change the current tax relief criteria relating to principal private residence relief and lettings relief. These changes could leave individuals who are struggling to find a buyer for their home,

Making Tax Digital (MTD) – time is running out!

Making Tax Digital (MTD) is the government requirement for businesses with an annual turnover above the VAT threshold (£85k) to submit their accounting information digitally every quarter, and from 1 April 2019 this means all VAT returns, and the digital records of the VAT return, should be submitted via MTD.

If you have a VAT quarter that begins in Feb 2019 and ends in April 2019, you don’t need to submit the April return via MTD. It is after April 1 that MTD will come into effect,

20 years of making connections

Helen Bennett, owner of The Business Network, has been professionally making connections for Manchester business people for well over 20 years – linking them with contacts, both locally and beyond.

It might just be in her DNA, as Helen tells the story of when she was a 4-year-old growing up in Sale she used to invite neighbours home to come and meet her Mum for tea. “I picked up the value of ‘connections’ very early on.” She says,

Are you prepared for new construction industry VAT rules?

HMRC is implementing new VAT rules for the construction industry to combat fraud – are you prepared?

Due to a number of cases of fraud in the construction industry which has been significantly impacting upon the amount of tax payments received from the sector, HMRC feel they have been forced to take action. This has resulted in a decision meaning that from 1 October 2019, HMRC will be introducing a new method of accounting for VAT for construction workers and sub-contractors to prevent the ongoing exploitation and avoidance of VAT payments.