Tax and technical

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Now that the 2014/15 tax year has passed, it is important to ensure that the expenses and benefits provided to employees during the 2014/15 tax year are r...

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Background
As we all know, capital allowances are an important form of tax relief available to UK taxpaying commercial property owners. A capital allowances claim can generate a repayment from HMRC and reduce future tax liabilities. They are avail...

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HMRC and electronic computer data

When most people think of an HMRC audit, they tend to imagine an Inspector taking days and weeks to pore over a pile of ledgers and invoices, much in the style of Bob Cratchit in Dickens’s “Christmas Carol”. The re...

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A good budget for business, with more than one eye on a general election?

Today George Osborne delivered his fifth budget, and probably most important, of his tenure as Chancellor. In the run up to today, all the talk was about a Budget for busine...

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There may be trouble ahead

by Gareth Jones on 16.12.2013 20:37

A recent ECJ decision on the Application of TOMS could have significant repercussions for the travel and hospitality sector

The ECJ has handed down its ruling on the infraction proceedings taken by the Commission against Spain in relation to Spain&r...

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Taxpayers whose appeal against refusal of inheritance tax (IHT) business property relief (BPR) for a single property furnished holiday letting business have lost their last chance to take the matter further.

The Court of Appeal has refused the ex...

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Energy is currently a hot topic. Rising wholesale oil and gas prices are being passed on to the consumer – business and private – in increased gas and electricity bills. Concurrently, investment in low carbon solutions – primarily ...
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Many travel companies have been contacted over the last few months by a special HMRC unit about the correct VAT treatment.

Whilst the position for principals is undisputed (HMRC has always considered that any charges were part of the price for ...

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My colleague Damon Wright, Director of VAT Services at MHA MacIntyre Hudson, has written the below article addressing this question:

 

With reducing margins and commissions, travel companies have been generating revenue, or at least c...

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The Department for Business, Innovation and Skills (BIS) and the Financial Reporting Council (FRC) have recently released proposals for a simplified reporting regime for the smallest businesses. Plans to exempt micros from the accounting requ...