It’s coming to that time of year when business owners look to provide some festive cheer for their workers and favoured customers. With that in mind, Burgess Hodgson’s VAT and Duty Specialist Greg Mayne explains how employers need to bear VAT in mind when planning their celebrations. (more…)Read More
British employers plan to hire more staff to meet demand but confidence about future investment and hiring has deteriorated because of worries about the impact of Britain’s exit from the European Union, a survey by a recruitment body showed.
The “business-as-usual attitude” among consumers so far since the vote had encouraged many businesses to plan to expand their workforces, Kevin Green, chief executive of the Recruitment and Employment Confederation (REC), said. (more…)Read More
Companies in London and the South East continue to be the biggest benefactors of the R&D tax credit scheme, according to new figures.
In total, companies received £2.45bn in tax relief for research and development last year, according to official figures, with claims rising to 22,445, an increase of £675m or 38% on the previous year.
The number of claims from small and medium-sized companies rose by 16% while large company R&D claims fell by 38%, reflecting the switch over to a new tax credit scheme for larger companies. (more…)Read More
When (and if) the UK finally exits the EU – current estimates suggest some time in 2018) – it will be the perfect time to revise the UK’s existing (and some might say outdated) VAT legislation, writes Greg Mayne, Greg Mayne, Director, Indirect Tax Services at Burgess Hodgson.
The current VAT Act – which takes its lead from the Principal EU VAT Directive -dates back to 1994 (and was preceded by one from 1983) is arguably long past its useful shelf-life; an overhaul would be welcomed by most professionals who have to deal with it. This would hopefully bring the legislation more in line with modern commercial transactions, such as Internet trading. (more…)Read More