10Jan
Outsourcing payroll – doesn’t it make sense for your business?
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll. This task […]
Blog
08Jan
How to avoid tax charges for overdrawn director’s loan accounts
In a personal or family company, the lines between the directors as individuals and the company are often blurred – the director may lend money to the company when cashflow […]
04Jan
HMRC change of policy on VAT treatment of retained deposits
HMRC has recently issued Revenue & Customs Brief 13 (2018), explaining their new policy on VAT treatment of retained payments and deposits. This may be relevant to companies and businesses […]
18Dec
Countdown to Tax Return deadline
The deadline for submission of online self-assessment tax returns is 31 January 2019. If you send your return late, you will receive a £100 penalty – even if you have […]
12Dec
HMRC’s latest ‘no deal’ Brexit advice
HMRC has issued advice on customs, excise and VAT if the UK leaves the EU without a deal on 29 March. Aimed at VAT-registered businesses that trade with the EU, […]
06Dec
Taxpayers treated unfairly by HMRC
A recent report by the House of Lords Economic Affairs Committee warned that the increased powers given to HMRC to tackle tax avoidance and evasion are undermining the rule of […]
27Nov
A nice problem to have – Surplus Cash
All successful companies want to generate profits and surplus cash reserves. While a business is growing, spare cash is commonly reinvested into the working capital but for more established businesses, […]
21Nov
Magma – 7 years on
Where did the last 7 years go? Born from a management buy-out in November 2011, Magma Chartered Accountants is 7 years old this week. We wanted to highlight our 7 […]
14Nov
Benefit your staff at Christmas NOT the Taxman!
With Christmas approaching more and more employers are offering Christmas gifts to their employees. Showing your appreciation of your staff’s efforts by gifts and benefits is good for morale. However, […]
06Nov
Recent Land and Property Tax Work
Tax impacts land and property owners in a multitude of ways. From Stamp Duty Land Tax on purchase, to tax on sale or death (…whichever comes first!) We have a […]
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