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accounts

Academies accounts return

The academies accounts return (AR) online form is now live for users to complete and submit their trust’s return by the deadline of 23 February 2021.

Amending accounting periods to get earlier tax relief

 One obvious effect of the current situation is that businesses of all types (not just companies) are likely to be loss-making or at the very least have significantly reduced profits

Amending accounting periods to get earlier tax relief

 One obvious effect of the current situation is that businesses of all types (not just companies) are likely to be loss-making or at the very least have significantly reduced profits

In Business? Add these to your new year resolutions

The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2019 is a must-do.

2016/2017 Academies Account Direction

The ESFA has published its Academies Accounts Direction for 2016/17. Although the changes aren’t as significant as last year, there are a number of things to consider. As well as introducing new disclosure requirements, including academy transfers and the apprenticeship levy, and providing guidance on accounting for premises occupied by church academy trusts, the ESFA has taken the opportunity to re-affirm/clarify existing financial administrative and legal requirements.

2016/2017 Academies Account Direction

The ESFA has published its Academies Accounts Direction for 2016/17. Although the changes aren’t as significant as last year, there are a number of things to consider. As well as introducing new disclosure requirements, including academy transfers and the apprenticeship levy, and providing guidance on accounting for premises occupied by church academy trusts, the ESFA has taken the opportunity to re-affirm/clarify existing financial administrative and legal requirements.

FRS 102 could have significant tax and reporting implications for small businesses

The introduction of FRS 102 (the Financial Reporting Standard which replaces all current GAAP standards) represents a major re-write of UK GAAP and could substantially affect reported profits and tax liabilities. 

Making Tax Digital - Proposed changes to the tax system

On 15 August 2016 HMRC published six consultation documents, together with a summary document, under the Making Tax Digital (MTD) initiative. In HMRC’s own words, the overall objectives of MTD are for the tax system to become ‘more effective, more efficient and easier for taxpayers’.

Making Tax Digital - Proposed changes to the tax system

On 15 August 2016 HMRC published six consultation documents, together with a summary document, under the Making Tax Digital (MTD) initiative. In HMRC’s own words, the overall objectives of MTD are for the tax system to become ‘more effective, more efficient and easier for taxpayers’.

The deadline for paper tax returns is looming.... avoid these common mistakes

The countdown has begun for this years’ paper tax return, a crucial time for around 400,000 taxpayers who are self employed or those that receive other income that requires the submission of a tax return, which is normally rental income, or interest and dividend income that is liable to income tax at more than the basic rate. It is also necessary to submit a tax return if you have realised capital gains on which a tax liability arises, or if you have made a loss on the disposal of a capital asset that you want to carry forward to set against future gains.

The deadline for paper tax returns is looming.... avoid these common mistakes

The countdown has begun for this years’ paper tax return, a crucial time for around 400,000 taxpayers who are self employed or those that receive other income that requires the submission of a tax return, which is normally rental income, or interest and dividend income that is liable to income tax at more than the basic rate. It is also necessary to submit a tax return if you have realised capital gains on which a tax liability arises, or if you have made a loss on the disposal of a capital asset that you want to carry forward to set against future gains.

Tax planning using the new Lifetime ISA

Budget 2016 announced a new 'Lifetime ISA' that will be available to those aged between 18 and 40 from 6 April 2017.

Tax planning using the new Lifetime ISA

Budget 2016 announced a new 'Lifetime ISA' that will be available to those aged between 18 and 40 from 6 April 2017.