Best4business Accountants & Co. Ltd.
Back in the 2012 Autumn Statement it was announced that, for a period of two years from 1st January 2013, the maximum amount a business can claim under the Annual Investment Allowance (AIA) would increase to £250,000. Previously, since April 2012, the limit was set to £25,000. [click to continue…]
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From the 1st October 2012, more small companies will be exempt from statutory audit, as laid out in The Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012. [click to continue…]
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On the 1st October 2012 the National Minimum Wage (NMW) was changed for certain groups of working people. The NMW for workers aged over 21 and apprentices were increased [click to continue…]
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Cars and vans are treated quite differently for benefit in kind (BIK) purposes. A recent tax tribunal case, Jones v Revenue & Customs (2012) UKFTT 265, has highlighted these differences in a number of important ways while providing further clarity on the definition of a car or a van from an HMRC perspective. [click to continue…]
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Although still in consultation, the Government recently announced in the Queens Speech that charities (and Community Amateur Sports Clubs) are to benefit from a new spending measure that will allow Gift Aid type top-ups to be claimed on ‘bucket donations’ from April 2013. [click to continue…]
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New rules on the taxation of profits for companies with ‘qualifying patents’ were proposed in the draft Finance Bill 2012 late last year. [click to continue…]
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The small business rate relief holiday currently being enjoyed by many smaller businesses is now to be extended by another 6 months to April 2013. [click to continue…]
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Further to our recent update in April 2011 on the Enterprise Investment Scheme (EIS), the Government has recently announced further positive changes to the EIS rules, to be included in Finance Bill 2012. The changes will therefore take effect from 1st April 2012. [click to continue…]
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Further to our article in January 2009 on Research & Development (R&D) Tax Credits (previous article), the Government has recently announced further improvements to the R&D tax credits relief that is available to most companies, to be included in the Finance Bill 2012. [click to continue…]
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