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Making Tax Digital (MTD) Is Here!

Making Tax Digital (MTD) for VAT has been a long time coming. It is now here, as of 1 April 2019, and will be impacting any businesses with a VAT period that starts on or after 1 April 2019 with turnover above the VAT Threshold of £85,000. For most businesses, this will be their first […]

Read more May 31st, 2019

Our New Smartphone App

Shapcotts Accountants are proud to announce the release of our new smartphone app. The app is available on both iTunes and the Google Play store, please find links at the end of the article. The App gives you easy access to the latest news and updates for you and your business, as well as help […]

Read more May 31st, 2019

Delivering Customer Value

Understanding what your customers really value can help you to market your products and services more effectively. Customer value is the perception of what a product or service is worth to the customer. Customers don’t buy features – they buy benefits. Your customers will buy your product or service because of the benefits that they […]

Read more May 30th, 2019

4 Steps To Effective Multitasking

In today’s fast-paced business world, here are some tips to help you to be more effective at multitasking. Over the past 10 years or so businesses have become leaner by reducing employee numbers, focusing on efficiency and increasing the demands on their staff. An increased workload forces us to multitask, which may be effective for […]

Read more May 28th, 2019

Managing Difficult People

Managing difficult people can be time-consuming and emotionally draining. You can’t reason with an unreasonable person. However, there is usually some underlying reason that is motivating them to behave in a difficult manner. Try to identify the person’s trigger. What is stopping them from co-operating with you? It may be helpful to set up a […]

Read more May 23rd, 2019

Making Tax Digital And VAT Registration

There will be a large number of businesses which have a turnover currently under the Making Tax Digital (MTD) registration limit but which will be getting nearer to that figure over time. Mostly these businesses will not yet be registered for VAT, but some may have registered voluntarily as their particular circumstances have a benefit […]

Read more May 13th, 2019

Possible Changes To CGT Private Residence Relief

The government is currently consulting on important changes to Private Residence Relief (PRR), that are likely to be introduced from 6 April 2020. The two possible changes announced in the Autumn 2018 Budget are: Firstly to limit to just 9 months the period prior to disposal that counts as a period of deemed occupation The […]

Read more May 10th, 2019

“Rent A Room” Relief Continues For Airbnb Landlords

Last year HMRC carried out a review of “rent a room” relief, especially at Airbnb Landlords. It proposed that the availability of this generous relief should be restricted to situations where the taxpayer was resident for at least part of the time when the “lodger” was paying rent. The scheme currently exempts from tax gross […]

Read more May 9th, 2019

Tax Planning To Minimise The High Income Child Benefit Charge

The substantial increase in the higher rate threshold to £50,000 is good news for many taxpayers. However, that same figure is the point at which child benefit starts being clawed back, and there has been no increase in that threshold since the High Income Child Benefit Charge was introduced in 2013/14. The charge applies if […]

Read more May 8th, 2019

Extracting Profit From The Family Business

The start of the new tax year means that shareholder/ directors may want to review the salary and dividend mix for 2019/20. The £3,000 employment allowance continues to be available to set against the employers national insurance contribution (NIC) liability. This means that where the company has not used this allowance it may be set […]

Read more May 7th, 2019