A new statutory reporting duty has come into force requiring disclosure of supplier payment practices. The stated aim is to boost transparency of payment practices to help SME businesses. The new reporting requirement applies to large companies and LLPs, regardless of whether they are private or public companies, based on the size thresholds in the Companies Act 2006 and therefore exceed at least two of the following criteria:-
– Annual turnover of £36m;
– Balance sheet total of £18m;
– 250 employees. (more…)
For over 40 years, supporting our local community has always been a priority to Burgess Hodgson and a cornerstone of the firm. In addition to providing a full range of quality financial services to our local businesses and individuals, we still remain strong in promoting our local area throughout a range of fields. (more…)Read More
Article written by our Associate, Fiona Wilkes
As we turn to the final quarter of the 2016/17 tax year, many buy to let landlords are reviewing their affairs due to the restriction of tax relief on loan interest and finance costs being brought in from 6 April 2017.
Any higher rate tax relief on loan interest and finance costs, such as arrangement fees, will be restricted from 6 April 2017, with the restriction being phased in over 3 tax years.
The news that Wayne Rooney was facing a potential £3.5 million tax bill over alleged involvement in a film tax avoidance scheme has raised the profile of these dubious tax measures.
According to The Times, the Manchester United and England captain was the biggest investor in one of the highest profile film schemes.
He is believed to have been informed by HM Revenue & Customs (HMRC) that the investment is liable to retrospective tax action.
Introduced by former chancellor Gordon Brown in 1997, the schemes were popular investments among the rich and famous due to their generous tax benefits. (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
The world of pensions altered significantly in April 2015, and further changes are due in April 2016. You would be forgiven for losing track of these; pensions have become increasingly complex and politicised. Lee Giles, Chartered Financial Planner at Argentis, looks at some of the changes (more…)Read More
From February 1, Sage Instant Accounts as we know it will no longer be available. Burgess Hodgson will be rolling out Sage 50 Accounts Essentials as its replacement which has all the functionality of the old Sage Instant Accounts Plus – with a little bit extra added. (more…)Read More
“Like a teenager’s bedroom, it will become a mess” – this was how one Guardian writer described this year’s Queen’s Speech. But then that’s hardly surprising from a newspaper that is not exactly pro-Conservative (according to a MORI poll taken in 2005, 48% of Guardian readers were Labour voters and 34% Liberal Democrat voters). (more…)Read More