The Law Society met with HM Revenue & Customs and has now released interim guidance on how HMRC intends to approach the VAT treatment of electronic property searches. (more…)
News that £68m of investment would be made in the development of 19 health and care centres across Wales caught my eye in April. Plans for 11 new Hubs and GP Centres, as well as money to refurbish existing centres will certainly be the sort of expenditure that will attract VAT on those projects – so will that VAT be recoverable and indeed who will be incurring that VAT? (more…)
Having been a treasurer/trustee with three charities (consecutively) for 15 years, I can reflect on my experience of 4 auditing firms. (more…)
Well the good news is that it doesn’t now apply to any tolls paid by commuters – business or personal – crossing on the Severn Bridges from the 8th January 2018. (more…)
By: Luke Walden, FX Expert, Godi Financial
Every year, thousands of hard working individuals finally take the plunge and purchase their dream holiday property. The end goal is to be sitting with a cold drink in the sunshine around the pool, but the process leading up to that point is far from plain sailing. Finding the right property in the right location is just the start. Once it comes to parting with your hard-earned cash, that’s when there are some potentially costly pitfalls to consider. (more…)
The referendum decision has given rise to political and economic turbulence which is unprecedented in recent times and there is likely to be a continued level of uncertainty for some time to come as business waits for clarity on the expected timescales for ‘Brexit’ negotiations and the invoking (or not) of Article 50.
Despite such uncertainties, whilst recognising that this is a difficult time for business owners, start-ups and SMEs in particular, it is equally important to recognise that it is not all bad news and significant opportunities exist in the commercial market for business growth and opportunities abound for corporate transactions to flourish.
I recently heard the founder of a social enterprise complain that “governance gets in the way of doing business”. Her basis for this claim was that she had to get board permission for everything. I fundamentally disagree. Good governance drives successful charities. The harsh flipside is that charities fail when governance is not fit-for-purpose.
When I recently became chair of an establish charity, it was clear from the beginning of my role that the charity faced many challenges, not least an insolvent balance sheet, a management structure no longer addressing the charity’s business needs, a public funds dependency culture, a management team used to controlling information flows to the board and, as a consequence, a board keen to get involved in operational matters, i.e. interfere!
How do farmers free up working capital when margins are under pressure? Here’s some examples of how farmers have made the most of their finances when times are tough.
- Farmers are taking advantage of flexible funding to free up working capital.
- Restructuring loans on capital expenditure to upgrade farm facilities can improve profitability and cash flow.
- Resourceful farmers are identifying additional revenue streams as commodity prices remain under pressure.
Rising input costs and falling commodity prices have put pressure on farmers across the UK. With the right support, some have turned adversity to their advantage by making their funding work much harder for them.
In the recent referendum the UK, including Wales, voted to leave the EU. While nothing much is expected to happen in the short term regarding VAT, once the Government has triggered Article 50 of the Lisbon Treaty to formally confirm that we are leaving negotiations will begin in earnest to agree the terms and process of our exit. It is said that negotiations are likely to take place over a 2-year period but possibly they may take more or less time than that, we just don’t know yet.
During the period of negotiation and until they are concluded, the UK is still part of the EU and accordingly we would expect that it must continue to be bound by EU VAT legislation, European Court Judgements on VAT and also reporting requirements, including VAT returns, ESL returns for both goods and services and Intrastat returns.
Invoice Discounting (ID) has been around in the UK for four decades and really became part of the mainstream funding landscape in the 1980’s, says Mark Edon, Head of Invoice Discounting – Allied Irish Bank (GB)
Like Factoring, monies are advanced against the trade debts due into your business but unlike factoring you stay in control of your own client relationships and your customers are unaware of the financier’s involvement. As well as all the main high street banks there are also many independents offering this type of finance, so what is the Owner Manager of a growing business to think?