HMRC have announced that income and expenditure relating to charitable fundraising events run by volunteers can be recorded in bookkeeping systems as one item for the income and one item the expenditure, without separate entries for each individual transaction.
Nice recent article in the Guardian suggesting we should all get outdoors regularly. For those that don’t know our back story, Green Accountancy was indeed founded to bring environmental matters to small businesses, which in turn was inspired by outdoor hobbies.
From 1 October 2019 new VAT rules will require certain business to business supplies within the construction industry to have reverse charge VAT applied. This means the supplier will not charge VAT but instead the recipient of the supply will charge themselves VAT. This already happens in many business-to-business supplies of services from the UK […]
Have you incurred VAT in another EU country? Any VAT incurred during the calendar year 2018 can be reclaimed via HMRC by 30 September 2019. Note that older EU VAT cannot now be reclaimed. If Brexit goes ahead any such VAT would have to be reclaimed from the relevant EU country in future. As with […]
The boss of a leading charity has been given a seven-year director disqualification for causing it to collapse by entering into financial contracts that set unachievable targets. The charity provided drug and alcohol rehabilitation services to over 80,000 people across England and Scotland, including a number of prisoners. Between August 2015 and January 2016, the […]
New capital allowance for commercial buildings – Structures and Buildings Allowance (SBA) The Autumn 2018 Budget announced a new 2% straight line tax deduction for the cost of construction or renovation of commercial buildings and structures. Unlike the old Industrial Buildings Allowance the new relief, SBA, is available for the construction of shops and offices […]
Both the National Minimum and National Living Wage increased on 1 April 2019. The hourly rate for the minimum wage depends on the employee’s age and whether they are an apprentice. As the minimum wage increases more employers than ever will be directly affected, including some of those who currently pay above the minimum. The […]
The government is to introduce a new criminal offence of ‘wilful or reckless behaviour’ in relation to pensions which would see directors facing up to seven years in jail. In its response to a consultation on protecting defined benefit contribution pension schemes, which ran from June to August last year, the government said it will […]
Minimum contribution rates under automatic enrolment are due to rise from 3% to 5% for employees and 2% to 3% for employers from 6 April 2019. The Department for Work and Pensions (DWP) says its research suggests saving behaviour is sticking: the first increase in minimum contributions which took place last year has not prompted […]
If the UK leaves the EU on 29 March 2019 without a deal this could have an impact on any EU Intellectual Property or Trademarks held by a business. At this point in time it is not clear if EU trademarks would be applicable in the UK post Brexit. If you own intellectual property rights […]