Tax Saving Accountants

Partnership Taxation Changes from May 2013

Towards the end of May 2013, the government published its consultation paper on the taxation of partnerships. This new consultation, which came alongside the new 2013 budget, set out two specific areas to be reformed. First of all, the government is intending to look at how under statutory footing, some members of a salaried partnership […]

Tax Saving Accountants

New International Retirement Scheme is Now Open to UK Limited Firms

A brand new Pension Trust has launched in the United Kingdom, which now allows UK Limited Companies to provide their workers with retirement packages if they have responsibilities outside of the country. This new International Retirement Scheme was previously only open to select few, namely direct clients, but it is now available across the board. […]

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

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

HMRC loses £2.3 billion in tax credit

HM Revenue and Customs have missed their target for tax credits by more than 2.3 billion pounds, meaning that there are still many cases in which people are being overpaid. It's believed that up to 10% of the tax credits that were issued to the public in 2009 shouldn't have been. Although there were plans […]

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