Blog

Food Glorious Food – are HMRC artfully dodging the issue?

admin

Food Glorious Food – are HMRC artfully dodging the issue?

The Court Of Appeal has this week rejected the latest attempt by a Subway franchisee (Sub One) to recover VAT they say has been overpaid on sales of toasted sandwiches and a product called a Meatball Marinara. There are over 1,200 other Subway franchisees and lots of other catering providers who have claims with HMRC that depend on this litigation, so, quite a queue of prospective Oliver’s standing in front of Mr Bumble the VATman asking for some more (cash).

Read More

Spring Clean: Housekeeping tips for legal practices

admin

As reporting accountants, we not only review for non-compliance when we complete our Solicitors Accounts Rules review but we also look for improvements that can be made in order to help cash flow and enhance management information.

Housekeeping often takes a secondary place in firms due to the time constraints on all staff.

Read More

Non-Residents Selling UK Property – a place in the sun

Michael Morter

In this blog we consider the current consultation by HMRC, where they propose to charge capital gains tax to non-residents when they sell residential property in the UK.

When it comes to non-residents (that is, people who do not live in the UK) the tax implications can quickly become very complicated and this new proposal will add another layer to that complexity.

Read More

Tax Avoidance Clampdown starts to bite! Or does it?

Martin Hales

 

Some of the recent blog posts from myself and Michael have highlighted HMRC’s attempts to tackle tax avoidance and recover unpaid liabilities. It was with interest that we looked at this weeks’ official figures which do suggest at first glance that the crackdown is starting to pay off as last year saw a record £23.

Read More

Ten Peaks Challenge – Failing to plan is planning to fail!

Team Larking Gowen

I can’t believe how quickly this has come around. It only seems like yesterday that we started talking about doing the Ten Peaks Challenge and it is nearly upon us already. Only two weeks to go!

We are under no illusion that it is going to be a tough day. Although only 16 miles as the crow flies, in this part of the country most people would find that sort of distance achievable.

Read More

The Charity Commission hardens their Conflict of Interest guidance

Giles Kerkham

The Charity Commission’s website includes reports on recent casework, to act as cautionary tales for trustees and encourage better practice. These reports commonly include governance failings that they feel have led to improperly handled conflicts of interest. To encourage trustees to improve in this area, the Commission have reissued CC29: Conflicts of Interest – a guide for Charity Trustees with a tougher tone.

Read More

Understanding Accounts

admin

In our most recent legal blog post by Martin Bugg, he discussed how the Solicitors Regulation Authority (‘SRA’) are assessing a firms’ financial stability as a risk factor. In addition to this they have also indicated, as part of their risk profiling, that they will start looking inside a firm to assess the financial competencies of the key individuals responsible for the decision making.

Read More

Icebreaker gets stuck

Martin Hales

The press has been full of stories covering celebrities reportedly avoiding significant tax payments through a music industry investment scheme known as “Icebreaker” which a Judge ruled was primarily a tax-avoidance scheme that had allowed the wealthy to shelter substantial amounts from the tax authorities.

Read More

The latest AISMA Doctors Newsline, Spring 2014 edition is now available

Tessa Brown

The latest AISMA Doctors Newsline, Spring 2014 edition is now available. There are a number of articles which provide food for thought and which may be relevant to you.

The lead article discusses the alarming increase in the number of GPs unable to pay their bills. Insolvency practitioner and healthcare accountant Jeanette Brown looks at some of the pressures GPs are facing in relation to their personal financial situation.

Read More

Hire-Purchase Contracts and VAT

Daniel May

Historically, a hire-purchase (‘HP’) contract has been viewed for VAT purposes as a supply of goods. The tax point is when the goods are made available to, or sent to the customer. This has resulted in VAT being paid over to HMRC at the point the contract is entered into.

The decision in a recent VAT case heard by The Upper Tier Tribunal involving car manufacturer Mercedes-Benz’s financial services company appears to suggest this may no longer be the case.

Read More