Author Archives: myersclark

John Lewis has been one of the first to reveal its sales figures from Black Friday. The 150 year-old company recorded its best year on record; however Black Friday might not be here to stay.

David Miles of the Bank of England has said falling inflation will mean consumers will have more money, but the plans for rising interest rates are not to change.

Despite the volatility of oil prices in the last week, the market shares moved very little during the three-hour conference, suggesting those buying shares were not encouraged or worried.

Black Friday has played a vital role in pushing retail sales growth to levels seen 26 years ago. The biggest price-cuts seen in more than 10 years, embraced more widely by more UK retailers than ever, encouraged consumers to bring forward some of their spending on Christmas presents this year.

The Russian economy appears to have made minor improvement since Tuesday’s all-time low, however fears remain as trading continues to be unpredictable.

The Patent Box scheme, which offers 10% tax rate for companies who can prove they innovate, is soon to be closed.

Whilst the Scottish may have voted to remain in the UK, the changes planned before power was devolved are coming into force, and will affect many taxpayers and employers throughout the UK.

A ground-breaking tribunal has today ruled that staff members who work overtime could claim for additional holiday pay.

The tax treatment of expenditure used to refurbish buildings falls into three broad categories: repairs, for which a full tax deduction can be claimed in the accounting period in which the cost was incurred; alterations to the fabric of the building, which is then added to the cost of the premises and taken into account if the property is sold; and fixtures for which capital allowances can be claimed.

The first tax return deadline is imminent. The first deadline for submitting your self-assessment is 31st October for those who are submitting their return on paper. If you are already running out of time, you are advised to register for online filing. Then you will have until 31st January 2015 to submit your form.