This article outlines some of the different ways employers can reward their staff and the tax implications of each approach. Seemingly as quickly as it came, another year is galloping off into the distance and people’s minds are beginning to turn to the festive holidays. Employers will want to show their staff that the year’s … Continued
HMRC has published updated guidance notes for charities, together with a set of updated Gift Aid templates for the use of charity shops. The guidance notes explain how the tax system operates for charities, including how to set up and run a charity. The latest changes are all in Chapter 3 of the guidance notes, … Continued
Further to our web news item of 15 April 2015 we are reminding you that from April 2016, HMRC are keen for employers to voluntarily move away from P11D reporting and report benefits in kind (BIKs) in real time each time an employee is paid. The move to tax the value of BIKs in real … Continued
The issues and assets to be considered when discussing death planning have expanded radically. People increasingly have a complex digital life that can be more private and less well recorded than their physical one. For example you may own music on iTunes, books on Kindle, store family photos in the cloud and blog, tweet and … Continued
The government spends around 0.49% of GDP on funding research and development (R&D), prompting business groups to call for an increase to help increase growth. The Confederation of British Industry (CBI) is calling on the government to increase total R&D spending to 3% of GDP as research shows that the current level of spending is … Continued
Where a company makes a trading loss that cannot be relieved against other profits that year, or the previous year, the unrelieved loss can be carried forward against future profits from the same trade that incurred the losses. This carry forward also applies where the trade is transferred to another company under common control (basically … Continued
In the Summer Budget it was announced that mortgage interest relief for buy to let landlords would start being phased out from 2017/18 onwards and restricted to basic rate only from 2020/21. Now that the Finance Bill has been published the full impact of this change is starting to emerge and for some landlords this … Continued
Care needs be taken when invoicing if your business makes supplies, some of which are standard rates and others which are potentially zero rated or exempt for VAT. A recent VAT Tribunal case has reinforced the rule established in the Card Protection Plan case that if the supply comprises a single service from an economic … Continued
In the Summer Budget Newsletter we outlined the new rules for the taxation of dividends that will apply from 6 April 2016. Further guidance has now been published by HMRC setting out how the new rules will operate and it seems the rules don’t work as many people expected. As previously reported, there will be … Continued
From 6 April 2017 an additional Inheritance Tax (IHT) Residence Nil Rate Band (RNRB) starts being phased in to enable individuals to pass on their family home to direct descendants. The additional nil rate band starts at £100,000 and rises to £175,000 for deaths after 6 April 2010. When fully phased in the additional nil … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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