HMRC given additional powers allowing them to collect more tax

HMRC additional powers   HMRC have recently been given new powers to access taxpayer information. This relates to anyone who may have offshore bank accounts or assets. HMRC are now issuing what is called “nudge letter” to anyone suspected of

Posted in Uncategorized

COVID-19: government support for individuals/businesses

COVID-19: government support for individuals and businesses The UK Government has announced a number of schemes over the period of time since the start of the Covid-19 pandemic to minimise the impact of the pandemic on the UK business community.

Posted in Uncategorized

CGT changes – impact on property investors

Capital Gains Tax changes impact on property investors In July 2020 the chancellor Rishi Sunak wrote to the office of tax simplification asking them to do a review on Capital Gains Tax (CGT). The consensus amongst property and tax experts

Posted in Uncategorized

Property investors Tax update

Property investors Tax update   Rishi Sunak’s summer statement has great news for property investors tax. SDLT on residential property up to £500,000 in value will be scrapped till 31st March 2021.   Residential Rates on Purchases from 8 July

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Coronavirus Business Interruption Scheme Summary

Coronavirus business interruption scheme summary:- you can get further information here. 1. Loan from £25,001 to £5m 2. Terms from 1-6yr 3. No interest for 12mths 4. Capital repayment holiday for 12mths, so some businesses wont have to pay anything

Posted in hmrc

Capital Gains Tax Rule Changes

Major change in capital gains tax rules for landlords On 6th April 2020 capital gains tax rules change and landlords will now have just 30 days to pay any capital gains tax due. Prior to 6th April 2020 if you

Posted in hmrc, Tax advisory

Management accounts, are they a waste of time?

The value of Management accounts is often something that small business owners don’t understand and therefore don’t implement. Most small business owners are only interested in submitting their end of year accounts so that they can pay taxes. A definition

Posted in Accountants, Tax advisory

HMRC Credit Card Changes – What To Do About It

As of 31st January 2018 HMRC credit card changes come into effect. That means you can no longer use your credit card to pay for income tax, NI or VAT. However, debit cards and corporate credit cards will still be

Posted in hmrc, Uncategorized

Chartered Accountants for Businesses in Ilford

Finance Equation Ltd is established, since 2004.  We are Multi Award-Winning Chartered Certified Accountants in Ilford, because of the service we offer. At  Finance Equation Ltd, we specialise in providing Cloud and Online Accounting solutions as well as Expert, experienced Tax

Posted in Accountants, ir35, Tax advisory

Commercial Debt Management – Using the Law Effectively

Commercial Debt management on late payment or non-payment of commercial debts can be managed by using the law effectively. The late payment of commercial debts (interest) act 1998 can be used to compensate creditors for late payment as well as

Posted in Business finance, Business Planning Tagged with: , ,

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