Author Archives: bwmwp

Comments Off on HMRC’s campaign focused on landlords gets underway

HMRC’s campaign focused on landlords gets underway

HMRC’s campaign focused on landlords gets underway

HMRC is to launch a campaign targeting landlords who are failing to pay the tax due on rents they receive on their properties. The campaign will target all landlords, but will be focussing compliance activity into specific landlord ‘types’, for example, those who own more than one property, specialist landlords who rent to students, people … Continued

Comments Off on BWMacfarlane sponsors the Spirit of Merseyside Awards

BWMacfarlane sponsors the Spirit of Merseyside Awards

BWMacfarlane sponsors the Spirit of Merseyside Awards

We are proud to again be sponsoring the Spirit of Merseyside awards in 2013. Our sponsorship helps to enable the largest community awards in our region to go ahead, honouring and rewarding the vital and inspirational work taking place in the communities of Merseyside. This is the eighth Spirit of Merseyside Awards organised by Community … Continued

Comments Off on Free Seminar on Tendering for Grants and Contracts 14 October

Free Seminar on Tendering for Grants and Contracts 14 October

BWMacfarlane are delighted to be running this event which is aimed at charities and businesses who wish to find out about Tendering for Grants and Contracts. During this 60 minute seminar we will be working in association with expert speakers to share insight on the following topics: Demystifying the tendering process, Delivering successful tender presentations, … Continued

Comments Off on Succeed at Succession Seminar on 2 October

Succeed at Succession Seminar on 2 October

Succeed at Succession Seminar on 2 October

We are pleased to invite you to attend this event aimed at all business owners to find out how you can ‘Succeed at Succession Planning’ and, when the time comes to get out, how to plan to get the right result for you, your family and your business. In this 60-minute seminar we are working in … Continued

Comments Off on HMRC new powers to access businesses credit card records

HMRC new powers to access businesses credit card records

HMRC new powers to access businesses credit card records

The Finance Act 2013 has provided HMRC with a new weapon to combat tax evasion. As of 1st September, HMRC have been legally entitled to have access to merchant acquirer data. They will be able to see information on businesses credit and debit card payments to attempt to reduce fraud. The Revenue suggests that its … Continued

Comments Off on Should LLPs incorporate?

Should LLPs incorporate?

Should LLPs incorporate?

A consultation document has been published on an HMRC attempt to stop what they believe are artificial profit and loss allocation schemes involving members of LLPs (and indeed other partnerships) where some of the members are chargeable to income tax but others are not. What they do not like is allocating to a limited company … Continued

Comments Off on Extra Corporation Tax relief for the creative sector

Extra Corporation Tax relief for the creative sector

Extra Corporation Tax relief for the creative sector

If you run a business involving the creation of animation programmes, high-end TV programmes, or video games, you can look forward to extra tax relief on the production costs. This results in corporation tax relief on no less than 200% of the actual costs on UK expenditure up to a maximum of 80% of the … Continued

Comments Off on Tax charge on taking a loan from a close company

Tax charge on taking a loan from a close company

Tax charge on taking a loan from a close company

If you have an overdrawn loan account with your company, there is a tax charge on the company unless the loan is cleared within 9 months of the end of the period to which accounts are prepared. Nasty anti-avoidance measures have been introduced to stop companies avoiding the tax charge. In particular when the loan … Continued

Comments Off on New Tax Relief Arrangement of Small Cash Donations to a Charity

New Tax Relief Arrangement of Small Cash Donations to a Charity

New Tax Relief Arrangement of Small Cash Donations to a Charity

Previously, cash deposits made into a charity collection box would offer no tax refund to the charity. This has now changed; a cash donation of no more than £20 is treated as a gift, after deduction of basic rate tax, which the charity can now reclaim. This is subject to a modest overall limit to … Continued

Comments Off on Coding out Tax Debt

Coding out Tax Debt

Coding out Tax Debt

HMRC are looking to increase this activity, which involves the collection of tax debts by way of reducing your Code Number used when calculating PAYE deductions on earnings. There would be no change to the current £3,000 maximum that can be coded out for individuals earning less than £30,000, and the current coding out limit … Continued