Blog
Welcome to our blog – where we share insights, updates, and practical advice to help you navigate the latest in business and finance.
GDPR – a simple summary
As an SME ourselves, we wanted to get to the GDPR point.What do we need to do differently on 25 May that we don’t do now? We couldn’t find a simple summary, so we set about condensing the Information Commissioner’s Office published content on the subject. Here it is....
Requirement to Correct legislation
Many taxpayers are unaware of the “Requirement to Correct” legislation which has recently been introduced and has potentially enormous consequences for non-compliance.Richard Coombs, Tax Partner at Bates Weston explains: The legislation is very much targeted at people...
A real employment?
Craig Simpson, Tax Partner at Bates Weston draws attention to the dangers of paying wages to relatives.A recent First Tier Tribunal Case finds that wages paid by a self-employed individual to his son were not deductible for tax purposes. The case of Nicholson v...
Tax bands and allowances
When a system is so complex, that it defeats HMRC’s own online system and they resort to asking you to submit your return on paper, alarm bells should be ringing.Graham Buckell, Bates Weston tax partner, sheds some light on the complex interactions between allowances...
Year end tax review 2018
Year end tax review 2017/18The key to minimising your tax bill is planning ahead and working with your advisors to make sure they understand your plans, both in the short and the long term. If your personal or business circumstances are changing, if you are thinking...
Childcare Vouchers
Childcare VouchersUsing Government childcare vouchers to pay for childcare can save parent thousands of pounds a year. The scheme is operated by employers and allows childcare to be paid for from pre-tax salary. Basic rate taxpayers can buy up to £55/week voucher,...
Charities materially misstate accounts
The Charity Commission expects trustees to take compliance with accounting requirements seriously.It was not impressed with the 97 charities, with a collective income of almost £195 million, who filed accounts where their auditors stated that the accounts were or...
HMRC settlements on EBTs
HMRC Settlements on EBTs are back on the tableRichard Coombs reminds advisors to encourage clients to settle their historic EBT liabilities before April 2019 . Employee Benefit Trusts seem to be permanently in the news these days and the recent “Paradise Papers” leak...
Trading and property allowances
If your property income is less than £1,000 there is probably no need to report it to HMRC.There are exceptions and Graham Buckell takes us through the traps. "In the Budget 2016 the Chancellor announced two new exemptions for casual trading and property businesses to...
Looking to grow? Take the next step
From compliance to growth, our accounting firm in Derby has you covered. Call us to see how we can help.