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company losses

Company Trading Losses

New Changes On Company Trading Losses Carried Forward The government has announced that corporate losses arising on or after 1 April 2017 can be carried forward against total profits of the company or can be group relieved. So the previous restriction of corporate trading losses to be carried forward against the same trading profit has been removed now. Where your company operates more than one type of trade, or you…

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Charles Little - KSK

HMRC on the Prowl

Affluent Team by Charles Little Director at Keens Shay Keens Ltd With the conclusion of the 2015/16 tax filing season it is appropriate to now look ahead to the new fast approaching tax year. Amongst HMRC’s new teams is what is dubbed the “Affluent Unit” which our profession sees as scrutinising the financial affairs of middle class families. We believe that the unit has taken on 368 new inspectors to…

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Tax questions and answers

Resource Section has the Answers

Topical tax and VAT issues from the advice line Our clients will be aware that complimentary to their Qdos Tax Fee Protection insurance, they have access to telephone advice.  The advice lines give unlimited access to our tax and VAT consultants, who between them have many years’ experience working in both private practice and /or for HMRC.  They will consequently answer your questions with insight and opinion. Our consultants produce…

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flat rate scheme

Flat Rate Scheme

Flat Rate Scheme – changed from 1 April 2017 – Limited Cost Traders With effect from 1/4/2017 HMRC introduced new rules to the Flat Rate Scheme (FRS) to try to reduce what they see as significant financial benefits received by some businesses using the scheme. Under the new rules businesses will have to use a new FRS percentage of 16.5% when calculating the VAT due on their sales if they…

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care homes and HMRC

The Caring Government? Targeting care homes

Project to target care homes Most people can understand that H M Revenue & Customs (HMRC) will target tax avoidance schemes used by the rich and famous but did you know that there is also a project to target care homes? At a PAYE inspection the HMRC officer confirmed that there is a project targeting care homes. There are a couple of areas that HMRC are looking at in detail,…

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Accountex stand 570

Qdos Vantage will be exhibiting at Accountex 2017

Accountex – Stand No. 570 We are getting prepared for Accountex 2017 which is only weeks away and wanted to let you know that we will be on Stand No. 570. We hope that if you are attending that you will come and say hello.  Paul Rigney and Paul Clegg, who are manning the stand, will be armed with a few useful gifts and of course there is the opportunity…

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insurance premium tax

Insurance Premium Tax Rate Change

Insurance Premium Tax Rate Changes from the 1 June 2017 As you are no doubt aware, from the 1st June 2017 the rate for Insurance Premium Tax (IPT) will increase from 10% to 12%. What does this mean for Tax Fee Protection Insurance? If your scheme incepts or renews after the 1st June 2017 the new rate will apply to all clients who purchase and we will provide you with…

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capital allowances

Capital Allowances – Claims on property transactions

Benefits of correctly identifying Capital Allowances on embedded items Despite recent changes in tax legislation commercial property remains an attractive investment, although few owners fully understand the requirements and potential benefits of correctly identifying Capital Allowances on embedded items, especially when entering into a property transaction. Often it is possible to enhance the selling price of the property, and/or minimise a tax bill, by making sure that all qualifying fixtures…

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Enhancements to the Qdos Vantage Tax Advice Line

Vantage brings tax advice line in-house .. Qdos Vantage continues to go from strength to strength, with more and more accountants choosing Vantage as their Fee Protection Insurance provider. Accountants are drawn towards our simplified and transparent approach, innovative on-line tools, significant policy enhancements and expert claims handlers delivering 99% first time acceptance. At Vantage we do not stand still and continue to look for ways in which we can…

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digital-tools

Digital Tools Revolution for HMRC

Investments in digital tools Often our accountancy clients ask us for articles that they can pass on to their clients, which provide an update on the current HMRC approach to compliance work.  The following gives an interesting insight into HMRC’s use of digital tools, their undoubted effectiveness and the impact that it has had in respect of HMRC activity: Since 2005/06 HMRC has made significant progress in closing the tax…

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