If you buy a new car for your business that has CO2 emissions of no more than 95g/km, you can claim a full deduction against your business profits. There are approximately 30 cars that fall into this category, but the list is growing. If you run your business as a limited company, the private use … Continued
Cash Basis for Small Businesses plus Fixed Rate Deductions
This new option for some small businesses needs careful consideration, particularly if you are self-employed and have annual turnover of less than £79,000. You can choose to: use the cash basis with or without also using fixed rate deductions use accruals accounting with or without also using fixed rate deductions The fixed rate deductions cover … Continued
BWMacfarlane sponsor ‘The Grandest Charity National’
BWMacfarlane are proud to be sponsoring the ‘Best Dressed Pantomime Horse’ at the first ever pantomime horse racing at Aintree Racecourse. Teams will dress up as pantomime horses and race against each other on part of the Aintree Grand National circuit, raising money for their favourite charities. The Grandest Charity National event attempts to break … Continued
Inheritance tax raises £3bn for the taxman
Individuals and families in the UK paid £3.14 billion in inheritance tax (IHT) in 2012/13, official figures from the Office for National Statistics have shown. It comes as a result of the freeze in the IHT threshold – held at £325,000 since April 2009 – and a recovery in property prices, which has pushed more … Continued
Number of home businesses hits 2.5m
More than half of the UK’s small businesses now operate from home, according to research from Direct Line for Business (DL4B). The 2.5 million home business owners account for 52 per cent of all small businesses and eight per cent of the total UK workforce. DL4B’s analysis of data from the Office for National Statistics … Continued
Employment tribunal fees begin
As from 29 July 2013, individuals who want to take a claim to an employment tribunal will have to pay fees under new legislation now in place across the UK. Employees will now: pay between £160 to £250 to lodge a claim pay a charge of £230 to £950 if the case goes ahead to … Continued
BWMacfarlane wishes goodbye to Freda
After nearly 26 years of working for the firm, BWMacfarlane wished their loyal, friendly cleaner Freda a happy retirement yesterday. The entire firm were saddened to see her leave but a warm and reminiscent speech was delivered by Paul Kurthausen who had known Freda since she began cleaning for the company. Freda, you will be … Continued
Free Auto Enrolment and Pension Reforms Seminar 18 September
BWMacfarlane are delighted to be running this event which is aimed at all employers to find out how the new Pension Auto Enrolment Requirements will affect them and their business. In this 90-minute seminar we are working in partnership with expert speakers to explain the full picture of the changes and what steps will need … Continued
Four join the BWMacfarlane team!
Liverpool chartered accountancy firm BWMacfarlane LLP is proud to welcome four new junior members to their team. Two of our new starters are apprentices from Liverpool Chamber Training, and are working to gain their NVQ Level 2 Business Administration qualification. Hayley Gillespie has taken on an Administration and Support role within the company, whilst Jessica … Continued
“Make hay while the sun shines” for estate planning?
A recent article in The Times highlighted at least one of the main political parties has come out and said it will look to make major changes to taxation if it wins the election. Under the heading “Lib Dem’s plot raids on the rich” it states “The Liberal Democrats are planning a raid on the wealthy … Continued