Risky Business: Good Risk Versus Bad Risk

From a business perspective, there are good and bad risks. Every opportunity that creates value can be considered a good risk. Bad risks include ignoring regulations or failing to implement effective policies and procedures. Successful business owners understand when...

Motor Racing Sponsorship was Tax Deductible

In order for an expense to be deductible against business profits it must be incurred “wholly and exclusively” for the purposes of the trade. In a recent tax case a hotel owner near Silverstone sponsored his grand-daughter’s career as a racing driver by making...

Advisory Fuel Rate for Company Cars

These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2017. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less   11p   7p 1600cc or...

Implications of Hung Parliament

The result of the General Election has left Teresa May and the Conservative Party clinging on to power with support from the Democratic Unionist Party (DUP) in Northern Ireland. This leads to a period of significant uncertainty for the country as the BREXIT...

Diary of Main Tax Events – July/August 2017

JULY/ AUGUST 2017 Date What’s Due 1/07 Corporation tax for year to 30/9/16  (unless pay quarterly) 5/07 Last date for agreeing PAYE settlement agreements for 2016/17 employee benefits 5/07 Deadline for agents and tenants to submit returns of rent paid to non-resident...

Being ready for change: the rise of business technology in 2017

Technology has become an increasing presence in our 21st-century lives, nowhere more so than in the business world, where technological innovation can lead to so many efficiencies, process improvements and increased levels of profitability. Cloud technology, advances...