VAT on discounts

The rules regarding VAT on discounts (Early Settlement Discount) is changing from 1 April 2015.

HM Revenue & Customs (HMRC) have estimated this could affect up to 250,000 businesses that currently offer early settlement discounts to their customers. These businesses will need to review their systems and look to revise their paperwork accordingly.

Read moreVAT on discounts

Categories VAT

Tax Relief When Selling Your Own Home

Did you know that you can get tax relief when selling your own home?  Providing a property has been your residence at some time during your ownership of it, a gain on its disposal will qualify for Principal Private Residence (PPR) relief and be exempt for Capital Gains Tax (CGT) purposes.  Even though you may not be living in the property at the time of disposal and may be living in another property as your main residence.

Read moreTax Relief When Selling Your Own Home

Our Response to the Budget 2014

Chancellor George Osborne’s fifth Budget statement was delivered today at 12.30pm.  The Chancellor’s message was that although the economy is more resilient and the recovery is much better and faster than forecasted, it does remain fragile and so he still has some tough decisions to make which will affect us all.

He is keen however to reward those of us who work hard and want to get on and he wants to support the UK’s businesses to encourage growth and aspiration.

If you are a maker, doer or saver then this was a Budget for you!

So what were the key announcements from today’s Budget?

Read moreOur Response to the Budget 2014

ICAEW Chartered Accoutnants Logo
The Chartered Institue of Taxation LogoThe Chartered Institute of Taxation
The Association of Taxation Technicians LogoThe Association of Taxation Technicians
Seavorchartered Xero Certified Advisors and Gold Partners