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Comments Off on New Markets- SME Business Support Programme

New Markets- SME Business Support Programme

New Markets- SME Business Support Programme

Developed by Liverpool City Region Local Enterprise Partnership (LEP), working with local partners, The New Markets Programme is a new way for local businesses to access high value, commercial business advice, tailored to your business needs and chosen by you. Eligible businesses can receive a 35% contribution to the cost of commercial advice that supports … Continued

Comments Off on Free training for faith groups

Free training for faith groups

In September the homeless charity, The Whitechapel Centre, will be running two free training sessions specifically designed for churches and faith groups in Merseyside. The “Stranger at the Door” session on Thursday 18th of September will look at the practical services available to people in need in the city The “Homelessness in Liverpool” session on … Continued

Comments Off on Reminder-New ISA allowance from 1 July

Reminder-New ISA allowance from 1 July

Reminder-New ISA allowance from 1 July

On 1 July 2014 ISAs were reformed into a replacement product- the New ISA (NISA) – and all existing ISAs will automatically become NISAs. The annual allowance of £11,880 increased to £15,000 which can be made up of cash, stocks and shares or a combination of both. Key aspects: Investments can be transferred from a … Continued

Comments Off on Lottery funding to help tackle domestic violence in Merseyside

Lottery funding to help tackle domestic violence in Merseyside

A project in Liverpool which aims to reduce and prevent domestic violence is one of three in Manchester and Merseyside sharing in a total of £834,047 in grants from the Big Lottery Fund’s Reaching Communities Programme. Merseyside Domestic Violence Service Ltd (MDVS) will use their funding of £278,561 to help reduce the risk of harm, … Continued

Comments Off on Charity accounts review examines reductions in permanent endowment funds

Charity accounts review examines reductions in permanent endowment funds

Charity accounts review examines reductions in permanent endowment funds

The Charity Commission has reported that is encouraged by the  use by trustees’ of professional advice when considering the legal status of their charity’s permanent endowment (PE) funds arising from a review of 60 charities with an income of over £500,000 whose accounts showed a reduction in the level of PE funds on the previous … Continued

Comments Off on Charity sector finances to come under scrutiny

Charity sector finances to come under scrutiny

Charity sector finances are to come under scrutiny during a major review of financial sustainability and funding to be led by the National Council for Voluntary Organisations (NCVO). NCVO will be working with a steering group comprised of the chief executives of Charity Finance Group, the Institute of Fundraising, and Navca, as well as a … Continued

Comments Off on Clampdown on use of trusts for inheritance mitigation

Clampdown on use of trusts for inheritance mitigation

Clampdown on use of trusts for inheritance mitigation

The Revenue have announced new rules preventing people reducing their exposure to inheritance tax by setting up multiple trusts for their heirs, each with a £325,000 tax free allowance. Under the plans, which are intended to come into force in April 2015, they would have only one £325,000 allowance, which could be divided between several … Continued

Comments Off on What should you do if you find an error in an earlier VAT return?

What should you do if you find an error in an earlier VAT return?

What should you do if you find an error in an earlier VAT return?

If you identify an error in an earlier VAT return, you can correct it by including the net effect in the latest return, providing that the error is no more than the greater of £10,000 and 1% of the Box 6 figure (total sales ex. VAT) on your VAT return for the period that you … Continued

Comments Off on Forms P11D due by 6 July

Forms P11D due by 6 July

Forms P11D due by 6 July

As mentioned in the tax diary, the deadline for filing 2013/14 returns of benefits and expenses paid to employees is 6 July 2014. Significant penalties can be incurred for incorrect returns, so great care is required. The most common benefits in kind that need to be reported are company cars and loans of over £5,000 … Continued

Comments Off on VAT fuel scale charges reduced

VAT fuel scale charges reduced

VAT fuel scale charges reduced

The VAT fuel scale charges (in respect of petrol and diesel supplied for private motoring) have decreased for return periods. This reduction is to commence on or after 1 May 2014 and follows the recent reductions in the price of petrol and diesel. The new quarterly charges range from £156 a quarter (inclusive of £26 … Continued