by AJN Accountants | Apr 21, 2022 | Accounting, Advice, Business, Financial planning, Tax planning, VAT
Contract termination fees can be a bitter pill to swallow when you just want out of an expensive agreement. What’s worse is that some suppliers will charge VAT on top of the cancellation fee while others will not. The law has been a bit of a mess but HMRC has...
by AJN Accountants | Apr 11, 2022 | Accounting, Advice, Financial planning, Tax planning
In uncertain times people instinctively look for alternative ways to invest and some may choose cryptoassets such as Bitcoin and non-fungible tokens. If you decide to go digital with your investments, think about how the profit or loss you make on these assets will be...
by AJN Accountants | Mar 25, 2022 | Accounting, Business, Financial planning, Tax planning
The Covid-19 support grants (CJRS, SEISS and Eat Out to Help Out) are taxable and should be declared on your business’ tax return. For corporation tax (CT) you must report amounts received in the accounting period covered by the return, not grants claimed for...
by AJN Accountants | Dec 7, 2021 | Business, Financial planning, Tax planning
High street shops, hospitality and leisure businesses were some of the hardest hit during the Covid-19 pandemic and many have not fully recovered. These businesses were granted 100% business rates relief during 2020-21 which continued until 30.6.21 for properties in...
by AJN Accountants | Nov 6, 2021 | Accounting, FAQs, Financial planning
In the March 2021 Budget the Chancellor announced a super-deduction scheme that provides a 130% deduction for the cost of new plant or equipment if it is purchased by a company before 1.4.23. Expenditure on other new assets such as fixtures and integral features in...
by AJN Accountants | Oct 3, 2021 | Accounting, Financial planning, News, Tax planning
Companies can now claim ‘super’ capital allowances on the purchase of new machinery and plant and to a lesser extent on certain new fixtures and fittings. These super allowances give the company a deduction of 130% of the cost in the year of purchase for...