Firm News | February 6, 2018

Firms banned from Charging Credit Card Fees

Retailers and businesses are no longer able to charge consumers extra for using a credit card to pay for goods or services. Interchange fees charged by firms on people who paid by credit card were banned on 13 January 2018 on the back of a widespread piece of EU legislation. Some were previously surcharging consumers … Continued

Business News | March 14, 2018

R & D Incentives: How a Business Can Reap the Rewards of Innovation

Legislation was introduced some time ago now with the aim of encouraging businesses to increase investment in innovative activities, R&D tax reliefs offer significant benefits for businesses advancing science and technology. These reliefs significantly reduce the corporation tax bill, or if loss – making can generate tax credit repayments. However it is estimated that 10% … Continued

Tax News | March 14, 2018

Reduced Dividend Allowance From 6/4/18

The dividend allowance was introduced in the 2016/17 tax year to encourage people to invest by making the first £5,000 of dividend income earned by shareholders each year tax-free from 6/4/18 the tax-free dividend allowance to will reduce £2,000. Dividends above the £2,000 threshold will be taxed at 7.5% for basic rate taxpayers, 32.5% for … Continued

Charity News | March 7, 2018

Consultation Proposing Amendments to the Charities SORP (FRS 102) Now Open

The Charity Com­mis­sion for England and Wales (‘Charity Com­mis­sion’) and the Office of the Scot­tish Charity Reg­u­lator (OSCR) have issued a joint con­sulta­tion on pro­posed amend­ments to the Char­it­ies State­ment of Re­com­men­ded Prac­tice (FRS 102) (‘Char­it­ies SORP FRS 102) fol­low­ing recent amend­ments to UK ac­count­ing stand­ards. SORPs are in­ten­ded to sup­ple­ment ac­count­ing stand­ards and other legal … Continued

Employer News | March 1, 2018

Are You Sure You Or Your Workers Are Self-Employed?

Last year we reported that the House of Commons Work and Pensions Committee published a report calling on the Government to close the loopholes that allow “bogus” self-employment practices, which burden the welfare state but reduce the tax contributions needed to sustain it. Most of the people working for organisations such as such as Uber, … Continued

BWM Online News | February 6, 2018

Most small Businesses are not ready for Digital Accounts

The overwhelming majority of business owners and landlords remain in the dark over making tax digital (MTD), government research shows. Ipsos Mori polled 2,900 small businesses and landlords on behalf of HMRC and found that 71% were unaware of the requirement to submit quarterly updates to the taxman. A further 13% had heard of the … Continued

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