General News

Guerrilla Coaching

Some new-fangled description of an age-old method, just to get new punters looking this way?

Well no! Guerrilla Marketing and Guerrilla Coaching are about stepping right in, doing some small stuff, and stepping right out. Small Interventions, BIG results.

GDPR is Almost Here!

The implementation date for the EU Data Protection Regulation (GDPR) is 25 May. Despite Brexit, UK businesses will need to comply.

In order to maintain business links with EU countries, the UK will need to create EU equivalent rules and regulations. GDPR is an example of this and must be complied with if businesses want to trade with the EU. The GDPR regulations are more favourable to consumers than businesses.

Don't Panic! Creating a Disaster Recovery Plan for Your Business

A disaster recovery plan is a documented process designed to help recover and protect a business and its infrastructure in the event of a disaster. It provides a clear plan of action to be taken before, during and after a disaster.

HMRC Loses IR35 Case

In the February newsletter, we reported the Tax Tribunal decision involving Christa Ackroyd Media Ltd, a company set up by a TV presenter to supply her services to the BBC, where it was held that the IR35 personal service company rules applied to the arrangements. In a recent case involving a night manager on a building site, another tribunal decided that the IR35 rules did not apply. 

Form P11Ds to Include Benefits Provided by Salary Sacrifice

Employers need to report all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) or “salary sacrifice” arrangements, to HMRC on form P11D from 6 April 2018, unless they are registered to voluntarily payroll benefits.

Charities Gift Aid Small Donations Scheme

Whilst on the subject of the reduction in cash transactions, we take the opportunity remind you of the Gift Aid Small Donations Scheme (GASDC). Under this scheme, a charity or community amateur sports club (CASC) can claim top-up payments on small donations up to £20. 

From 6 April 2017 charities have also been able to claim tax back on donations made using contactless technology, such as a contactless credit or debit card.

Cash and Digital Payments in the New Economy

One of the announcements in the Spring Statement was the possible demise of the 1p and 2p coins and the £50 note, but for different reasons. It seems that more and more of us are paying for small transactions such as our morning coffee by using contactless payments. 

Those who do pay in cash and where the cost is say £2.99 we put the penny change in the charity pot and many are thrown away! The £50 note has been linked to money laundering and other illegal cash-based payments.

What Allowances can you Claim on Replacement of Domestic Items?

As a Landlord, it’s always important to ensure that you know what you can be claiming for.

The government allows landlords to claim tax relief on money spent to replace 'domestic items' in their rental properties. This came into effect from 5 April 2016 and the replaces the previous wear and tear allowance basis, which was used to cover such items.

The government lists a number of examples of which domestic items qualify for this new relief. These include:-

Are you Claiming all your Expenses?

To ensure you are paying as little tax as possible it’s important to claim all the allowable expenses that are available. Are you claiming all of yours?

As a general rule, landlords can claim the expenses of running and maintaining their property. The most common types of expenses you can deduct are:

Can I Claim my Legal Expenses?

The answer to this question is that it depends what your legal expenses relate to. So let us cover a few examples in our article today.

Generally, legal fees are capital if they relate to a capital matter, such as the purchase of a property. Therefore costs incurred in respect of acquiring, adding to or selling an asset are normally capital.

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