Tax Saving Accountants

Companies and Political Parties Bear All

New procedures and proposed changes now mean that companies and political parties will have to include much more in their tax returns. Taxpayers will now have to specify the other source from which any income has come. After regular taxpayers were asked to declare their liabilities and assets in the new Tax Return forms, it’s […]

Tax Saving Accountants

Henderson Loggie Has New Partner

Alan Davis has now become the latest partner to the Dundee office of Henderson Loggie. After having joined the law firm in 2005, coming from KPMG, Davis became an important figure in the Aberdeen and Edinburgh offices. He is also experienced in working at Customs and Exercise for 16 years in Jull. He is also […]

Tax Saving Accountants

£80m VAT Appeal Refused by HMRC

HMRC Rejected Sportech’s £80million VAT Appeal HMRC has recently been refused the leave it needed to appeal in the on-going £80m VAT battle. The battle is currently going against the owners of Spot-the-Ball, Sportech. Sportech is a listed gaming business that recently told the Stock Exchange that Her Majesty’s Revenue and Customs’ bid to have […]

Tax Saving Accountants

Annual Lease Accounting Rules Expect to Change Dramatically

The IASB’s New Proposals Will Impact Financial Figures International accounting proposals associated with leasing are thought to soon be changing dramatically, and in turn, impacting the finances of firms all across the United Kingdom. In a move to improve the level of transparency in the leasing industry, the International Accounting Standards Boards has recently created […]

Tax Saving Accountants

Audit Profitability Pushed Down Due to Fee Pressure

The continuing pressure on fees has, according to firms across the country, been pushing profitability down. This news has come as a result of a new survey published by CaseWire, an international IT provider. The survey found that around 80% of firms have been reporting strong fee pressure from their clients, and they blame this […]

Tax Saving Accountants

New Audit Report Standard from the FRC

The Financial reporting watchdog has recently issued a new and revised auditing standard. The watchdog claims that the new standard will improve transparency in the industry due to the fact that it will increase the amount of communication with investors. Board engagement was a primary suspect in the changes. The FRC now requires all boards […]

Tax Saving Accountants

New technology identifies susceptible sectors

The self-assessment deadline may have been and gone, but the taxman has announced that they have new technology which can indicate which sectors are most likely to have filled in their self-assessment incorrectly. This is done by looking at patterns throughout the economy, and then determining susceptibilities. For example, one area that could be under […]

Tax Saving Accountants

HMRC has food for thought

HMRC are beginning to launch specific tax crackdowns in certain regions and in particular industries. One example reported recently was that East Anglia fast food companies may be subject to more rigorous checks. In this particular instance, up to 5 million could be added to the Treasury's funds, contributing to the 7 billion in annual […]

Tax Saving Accountants

Could glitches be on the way for HMRC?

New reform for Pay As You Earn – also known as PAYE – is on the way, but HM Revenue and Customs are expecting that there will be technological hiccups along the way. The changes towards submitting information in real-time is one of the biggest reforms that the taxman has introduced in decades. The reason […]

Tax Saving Accountants

Will income tax rise by 3%?

The government is continuing to cut in order to eliminate the budget deficit, but these falls in spending are also coupled with rises in income tax to boost the revenue which the Treasury receives. It is estimated that £12.5 billion of extra tax revenue will be needed in order to ensure that the government can […]

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