Author Archives: myersclark

With the 31st October Brexit deadline looming, and as apt of Halloween season, many are wondering whether it will bring with it a trick or a treat.

On Monday 29th October 2018, The Chancellor announced in his Autumn Budget that the Annual Investment Allowance (AIA) would temporarily increase from £200,000 to £1m for a two-year period, between 1st January 2019 to 31th December 2020.

How often do some of us feel guilty about saying “no”. It is important to say “no” at work without making enemies.

From April 2020, the way that you are required to report and pay capital gains tax (CGT) made from the sale of residential property is changing. This will affect how and when you’re required to report CGT.

Since April 2014, certain businesses are eligible to claim an Employment Allowance (EA). This allows businesses to reduce their Class 1 National Insurance bill by up to £3,000. However, from 6 April 2020, the government is altering this, meaning not all businesses who currently benefit will be able to claim the allowance in the 2020/21 tax year.

These days stories of fraud and Cybercrimes are common items on the news for both businesses and individuals. SME’s need to be more alert of the types of crimes and ensure that they have robust internal controls set up to combat any attacks.

The latest figures would suggest that 120,000 businesses have missed the 7th August deadline (the first quarterly deadline for MTD) to sign up to Making Tax Digital.

Ahead of the looming potential of a no-deal Brexit, the Government has announced it will begin automatically issuing economic operator registration and identification (EORI) numbers to UK VAT registered businesses.

With just over two months to go before the major changes to VAT take effect within the construction industry, it is said two thirds of SMEs within the sector are unaware of the new reverse charge plans and have asked of the Government to delay the implementation date.

With it being National Micro, Small and Medium Enterprise Day, here are 10 facts that you might not know about SME’s in the UK.