Welcome to Strength in Numbers
We hope you enjoyed the festive season! Now, it is January and that time when many of us review our busy lives and think about what we want to accomplish personally or in our business during the next 12 months. With this in mind, in the latest issue of our regular newsletter Strength in Numbers we have produced a series of articles and timely news which we hope will be useful to you as you plan the year ahead.
Final reminder: Making Tax Digital…
Firstly, we want to remind you that there is limited time to prepare for the first phase of Making Tax Digital which begins with a new regime for VAT reporting from 1 April 2019. Under the new rules, businesses and charities must keep their VAT records digitally and submit their VAT return to HMRC through Making Tax Digital compatible software. VAT partner, Alison Birch addresses the main queries businesses have on the new rules on page 19.
Also in this edition…
In last Autumn’s Budget, the Chancellor of the Exchequer made changes to Entrepreneur’s Relief, which could significantly affect an employee’s capital gains tax status. Latha Rodgers, director of tax, discusses the particular impact on Enterprise Management Incentives. Tax partner Tim Adcock has written a guide to self assessment tax returns and VAT partner Alison Birch explains when the VAT zero-rating can be applied to the construction of a building.
We also have a detailed article on creative industry tax relief and how SMEs within this sector can benefit from the tax relief available, written by tax manager Phil Hartley.
Alongside tax, our other specialist services have also contributed articles to this edition. Richard Gorst, director of insurance, has drafted a handy Q&A to assist in conducting a business insurance review, Julie Webster, corporate recovery and insolvency associate, comments on the Government’s plans to introduce tougher insolvency laws and there is a reminder for employers about itemised payslips from our payroll team.
Finally, there is an update on the latest news from Mitchell Charlesworth, including our fundraising activity over the past year, forthcoming events and the launch of the 2019 Merseyside Innovation Awards, of which we are a proud sponsor.
We hope you find the articles in this issue interesting and of practical use. If you would like to discuss any of the items in this newsletter or need advice on general financial, taxation and business matters, please contact your local Mitchell Charlesworth office.
- VAT and the supply of temporary staff
- A Reminder for Employers: Itemised Payslips
- A Guide to Self Assessement Tax Returns
- Creative Industry Tax Reliefs – what are they and how can your company benefit?
- Key Tax Dates: January - October 2019
- Construction – when does zero-rating apply?
- Employee Share Plans: Enterprise Management Incentive “EMI” options
- Mitchell Charlesworth news update January 2019
- What insurance cover does my business need?
- Government plans to shake up insolvency regime
- Final Reminder: Making Tax Digital for VAT