March 2014 If or when you register for VAT, you need to charge VAT on any goods and services you provide that are subject to VAT and will also allow you to reclaim some or all of the VAT you suffer on your purchases. All businesses must register for VAT if their UK turnover of…Read More
March 2014 As announced by the Chancellor in his 2013 Budget, from 6th April 2014 the new Employment Allowance comes into effect. This will allow most employers who pay Employer’s National Insurance to be able to claim up to £2,000 against these costs. This allowance is deducted from the first £2,000 of Employer’s National Insurance…Read More
March 2014 Have you taken account of the maximum Annual Investment Allowance (AIA) available and invested in new plant and machinery for maximum tax benefits, writes Tony Rookes, a partner at accountancy firm Southgates, Chartered Certified Accountants. The government had previously reduced the AIA to just £25,000 from 6th April 2012 but from 6th April…Read More
Christmas 2013 This Christmas we wanted to show our appreciation for the continued support of all our clients and rather than send out small gifts we have chosen to make a donation to Macmillan Cancer Support charity. The charity is close to the heart of Andy who this year saw at close hand the amazing work done by Macmillan nurses…Read More
December 2013 George Osborne delivered his Autumn Statement last week and rather than just give us details of his spending he actually gave announced some tax changes which will take effect in 2014 and 2015. Some of these tax changes had been announced earlier and some were simply extending current initiatives but still, it was…Read More
November 2013 If you buy an asset such as a vehicle, plant and machinery or other equipment for use in your business you may be able to claim a capital allowance for that expenditure. Capital allowances have been around for many years and the aim is to give tax relief for the reduction in value of qualifying…Read More
September 2013 It’s been an interesting and sometimes quite exciting time (for an accountants anyway) at Southgates over the last few months. We have thought for some-time that the ‘logo’ we used on our letterheads and some adverts had become a little ‘dated’. With the introduction of Andy Guy as a partner in 2011 and…Read More
August 2013 The 31st January 2014 seems a long way off, but based on experience it will soon be here! What’s more there is Christmas in between!! This is the deadline to electronically submit your 2013 Self Assessment Tax Return to HM Revenue and Customs (31st October 2013 if submitting a paper version). Not everyone needs to worry about…Read More
August 2013 The Pensions Act 2008 established new duties that mean employers will need to provide employees with access to a workplace pension scheme that meets certain minimum standards. They’ll need to automatically enrol some of their employees and others may ask to join. Although this is not of immediate concern, there are advantages for employers to…Read More
July 2013 Are you ‘LinkedIn’? Not quite the business version of Facebook but still a useful tool to build up those business contacts and to enable you to get your message across about the goods or services your business provides. I can only see it getting more powerful in the future. Search on LinkedIn and…Read More
June 2013 Apprenticeships are work-based training programmes which are designed around the needs of employers. This nationally recognised qualification can be used to train both new and existing employees. With most of the training ‘on the job’ at your premises it is ideal for small businesses. Additional training is provided to apprentices by local colleges or by a specialist…Read More
May 2013 Over the last few weeks, we employers have had to cope with RTI, the biggest change in the PAYE system since its introduction and had to ensure our PAYE year end returns were submitted on time. All of this is with the threat of penalties hanging over us if we got it wrong.…Read More
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