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+4 4 votes

The property market is moving!! Is it 'Help to Buy'?

by Matthew Cook on 14/06/2013 10:39 0 comments , 14 views
Categories: Property & Construction
Filter by keyword: interest rate, help to buy, property mortgage, deposit, loan

In the last budget, the Government released details of their new 'flagship' property scheme named 'Help to Buy' that they are pinning their hopes on to give the economy a much needed boost.

The first stage of this scheme which has been available since 1 April 2013 is to assist anyone buying a new build home.  First time buyers and home movers are eligible to buy a property up to the value of £600,000 only requiring a 5% deposit. ...

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+3 3 votes

All change for profits for property investment companies

by Jane Bates on 11/06/2013 16:30 0 comments , 84 views
Categories: Property & Construction
Filter by keyword: property investment companies, credit rating, frs102, market value, revaluation reserve

Companies with investment properties will see their profit and loss accounts change when new accounting standards come into force.  As headline results such as profit before tax are used for credit scoring this academic change may have a real world unexpected effect on a company’s credit rating.

Companies with investment properties have for many years followed existing UK Generally Accepted Accounting Practice (UK GAAP) and have ...
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+5 5 votes

Contaminated land tax relief - Where there’s muck there’s brass (or possible tax savings at least)

by Cetin Suleyman on 10/06/2013 18:07 0 comments , 122 views
Categories: Property & Construction
Filter by keyword: tax reliefs, property development, land remediation, derelict land, contaminated land, option over land, barter transactions, corporation tax relief, business structure

Much has been written about Land Remediation Relief (LRR) and the closely related Derelict Land Relief (DLR). In a nutshell these can provide land owners and property developers relief for up to 150% of qualifying costs of “cleaning up” contaminated land – eg, spend £500,000 and get tax relief against a deemed spend of £750,000.  It’s very appealing.

But as they say, all that glitters is not gold and ...

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+4 4 votes

FRS 102 - Impact on Charities and the New Charities SORP

by Martin Bailey on 08/06/2013 12:37 0 comments , 111 views
Categories: Social Enterprises & Charities
Filter by keyword: charity accounts, charity financial reporting, new charities sorp, frs 102 for charities, charity sorp changes
Earlier this year, the Financial Reporting Council (the FRC) published Financial Reporting Standard 102 (FRS 102), the culmination of years of debate, consultation, draft versions, and delays. It replaces all previous FRSs, SSAPs, and UITFs (and at around 300 pages is considerably shorter than what it is replacing), and is based on the IFRS for SMEs. It also includes guidance specifically for public benefit entities.

So what is the impact ...
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+7 7 votes

Charity Funding Shortages - The Survey Says......No?

by Martin Bailey on 03/05/2013 14:48 0 comments , 142 views
Categories: Social Enterprises & Charities
Filter by keyword: charities, charity funding, charity finances, charity accounts, income sources
Over the last week or so, I have come across various instances of people commenting on how hard it is for charities in the current economic climate.
The first was a news article about how charities are turning to investment markets for new sources of funding during hard times, commenting that “with public donations…falling, one in six British charities have said they are concerned they might have to close this year.”

The ...
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+4 4 votes

Seed EIS extension

by Graeme Blair on 26/04/2013 13:43 0 comments , 259 views
Filter by keyword: tax, entrepreneur, hmrc, seis, seed eis, seed enterprise investment scheme, investor, 2013 budget

The 2013 Budget included an extension of the tax breaks for investment in start-up companies. This announcement has made the Seed Enterprise Investment Scheme (SEIS) even more accessible and attractive to both entrepreneurs and investors.

SEIS is the higher risk alternative to the Enterprise Investment Scheme. The objective is to help the development of smaller, riskier, early stage UK companies, which may face barriers in raising external ...

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+9 9 votes

The Entertainment Industry - National Insurance

by Alyson McMorran on 16/04/2013 15:28 0 comments , 251 views
Categories: Tax
Filter by keyword: national insurance, self assessment, nics, class 1, class 2, class 4, entertainers, dancers, actors, tax return

Many people will be familiar with the basic difference between the National Insurance paid by employees (Class 1 National Insurance Contributions), and that paid by self-employed individuals (Class 2 and Class 4 NICs).

However, this distinction is blurred when it comes to our clients who are actors, dancers and other entertainers.  They may be treated as self-employed for tax purposes, but at the same time they are deemed to be ...
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+6 6 votes

Latest HMRC campaign targets sales of second homes

by Richard Verge on 12/04/2013 11:48 0 comments , 284 views
Categories: Property & Construction, Tax
Filter by keyword: property, tax, second home, sale of home, sale of property, hmrc campaign, tax disclosure

HMRC suspect that many sales of second homes are not being reported for tax purposes. They have used their extensive powers to obtain details of property sales both in the UK and abroad and are now inviting people to come forward to voluntarily disclose previously undeclared sales.

Most people are aware that they don’t have to pay any capital gains tax when they sell their home, but this is only due to a specific capital gains tax ...
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+14 18 votes

Five good reasons why you shouldn’t delay submitting your tax return….

by Alyson McMorran on 22/03/2013 14:36 0 comments , 336 views
Categories: Tax
Filter by keyword: income tax, hmrc, tax returns, self assessment, late filing penalties

A press release issued by HM Revenue & Customs (HMRC) has confirmed that over half a million taxpayers submitted their 2011/12 tax returns online on the 31 January 2013, making the 31 January filing deadline the busiest day for the submission of returns.

As the 2012/13 tax year ends, HMRC will shortly start issuing tax returns to those within Self-Assessment.  HMRC’s statistics indicate that for many the completion of their ...

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+6 6 votes

Charity Staff Foundation - Charity Innovator of the Year Award 2013

by Julian Flitter on 12/03/2013 09:32 0 comments , 320 views
Categories: Social Enterprises & Charities
Filter by keyword: charity, charity staff foundation, csf awards, charity innovator of the year, 2013, martin bailey

Thursday 7th March saw a packed Central Hall Westminster host the inaugural Charity Staff Foundation Awards.



Rory Fenton, Dialogue Officer of the British Humanism Association with Martin Bailey, Goodman Jones.

The Charity Staff Foundation is a charity which aims to encourage and provide access for young people to make long-term careers in the charity sector. It also provides a support structure for those who work and volunteer for . ...

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