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 […]
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 […]
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, […]
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 […]
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, […]
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 […]
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, […]
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 […]
Did you know there is a package of tax reliefs introduced to encourage investment in sport? CTA10/PART6A extends the circumstances in which contributions to grassroots sports can be deducted from […]
Unlike the last few, yesterday’s Budget proved quite eventful for private businesses and successful individuals. Magma’s review is focused on those impacts. To read more, click here
