Notice: Trying to get property of non-object in /var/www/vhosts/jamesstanley.co.uk/httpdocs/templates/luxon/vertex/parameters.php on line 39

Strict Standards: Only variables should be assigned by reference in /var/www/vhosts/jamesstanley.co.uk/httpdocs/templates/luxon/vertex/responsive/responsive_mobile_sidebar.php on line 8

Notice: Trying to get property of non-object in /var/www/vhosts/jamesstanley.co.uk/httpdocs/templates/luxon/vertex/responsive/responsive_mobile_top_bar.php on line 164

Blog

The Accountants for Growth

Getting compliant for Making Tax Digital

Getting compliant for Making Tax Digital
MTD-flow-chart.pdf
If you need any help with making sense of how Making Tax Digital will affect your business, get in touch with us! 
Continue reading
10 Hits
0 Comments

Can I Gift Aid?

Can I Gift Aid?
In recent years the government have made several tax changes that have taken individuals out of the tax system
Continue reading
114 Hits
0 Comments

Dividend Impact Review

Dividend Impact Review
The 2017 Spring Budget brought the tax rules in respect of dividends under the spotlight yet again. The Budget included a further increase in tax for anyone receiving dividends. This announcement combined with recent dividend changes could have a significant impact on many, whether you own shares in your own company, you hold shares as investments, or even if you run your own self employed business.
 
Continue reading
360 Hits
0 Comments

P11d Reporting: Payroll your Benefits

P11d Reporting: Payroll your Benefits
All business by now will have completed and filed with HM Revenue & Customs their Forms P11D and some businesses find this to be costly in terms of time and effort.

Is there a better way of dealing with this?
Continue reading
372 Hits
0 Comments

An Office Jingle?

An Office Jingle?
We thought this week that we would share a case study with you all regarding ABBA Limited and the company’s owner and director, Fernando.
 
Continue reading
666 Hits
0 Comments

Cloud Accounting

Cloud Accounting
Let’s face it, most people see accounts as a necessary evil and they play little part in helping business owners make better decisions. However they are a necessity in order to comply with the law and tax authorities, so if we have to do them we may as well do them properly and in a way that adds benefit to the business.

We can make accounts a very important management tool that reports in real time the financial performance of your business. We do this via our cloud accounting solution where you can choose from a number of software solutions and support packages that best suit your business.
Continue reading
780 Hits
0 Comments

Budget Press Release

Storm clouds revealed by the Budget will force taxpayers in Birmingham to work an extra 2 years without pay to balance the country’s books
 
Birmingham accountants James, Stanley & Co. Limited have today launched two free initiatives to prevent local taxpayers and businesses being drowned by the storm clouds identified in the small print of George Osborne’s Budget. Launching the initiatives James, Stanley & Co. Limited partner Andrew James said:
 
“Inevitably the likes of the sugar levy, school reforms, lifetime ISAs, business rates exemptions and flood defence spending promises will grab most of the headlines. But the real story today is not about the detailed announcements, which ranged from innovative and genuinely useful to window dressing and spin. It is not even about the prediction that there are storm clouds on the horizon.
Continue reading
891 Hits
0 Comments

Have you transferred your Marriage Allowance?

Have you transferred your Marriage Allowance?

What is it?


The Marriage Allowance is a new way for couples to transfer a proportion of their personal allowance (the amount you can earn tax-free each tax year) between each other. It will reduce your husband, wife or civil partner’s tax by up to £212.

Continue reading
959 Hits
0 Comments

Making your properties tax efficient

Making your properties tax efficient

Against the rental income of furnished residential properties, you can offset a significant amount of the ongoing expenditure, including:-

Continue reading
888 Hits
0 Comments

Follower and Accelerated Payment Notices (APN)

Follower and Accelerated Payment Notices (APN)

Basic Facts


From the date The Finance Bill 2014 receives Royal Assent (within the next couple of weeks!!), any individual or company that has undertaken aggressive tax planning since August 2004 may receive a “Follower Notice and/or an Accelerated Payment Notice (APN)” requiring them to amend tax returns, and in some cases payback the tax saved via “tax advantageous” strategies.

Tags:
Continue reading
949 Hits
0 Comments

HMRC New Debt Recovery Plan

HMRC New Debt Recovery Plan

News has just broken today on the new powers granted to H.M. Revenue & Customs to collect overdue tax by dipping directly into taxpayers’ bank accounts.


The Revenue has assured there are safe guards to protect against possible errors, for instance, the Treasurer has stated that HMRC will only to take the money after four ignored requests, if the amount is more than £1000 and if £5000 remain in the bank after the transaction is made.*

Continue reading
1131 Hits
0 Comments

UK Policy Paper on Aggressive Tax Planning

UK Policy Paper on Aggressive Tax Planning

HMT and HMRC have just released their policy paper on the G20 and OECD Action Plan to tackle Base Erosion and Profit Shifting (‘BEPS’). In it, the government strongly endorses the BEPS initiative for “creating a fair and balanced set of international rules for both countries and companies.”

Continue reading
849 Hits
0 Comments

Tax Tip I

Tax Tip I
Have you made sure that any non-tax payers in your family receive their interest gross? To do this, simply ask the bank or building society for Form R85 and complete one for each account.

Provided total income is below the personal allowance for 2013-14 of £9,440 then savings income can be paid gross. If income exceeds this limit at a later date then your bank or building society will need to be notified to start deducting tax.

 

Continue reading
813 Hits
0 Comments

Couples - Making the most of your personal allowance

The government has announced that from April 2015 married couples and civil partners may be eligible for a new Transferrable Tax Allowance. This Allowance will enable spouses and civil partners to transfer a fixed amount of their personal allowance to their partner.

Continue reading
829 Hits
0 Comments

Family Inheritance Tax Planning

Family Inheritance Tax Planning

Inheritance tax is something people often put to the back of their minds as they find it unpalatable to consider or plan for. As it is a tax which often crystallises on death we tend to ignore it for as long as possible. It is however a tax which, with the right planning, can be to varying degrees avoided.

Continue reading
843 Hits
0 Comments

Your self assessment tax return

Your self assessment tax return

Too early to prepare for your 2012/13 tax return?


Not at all!


Forwarding all relevant information to your accountants now will make the filing process easier for both you and your accountant!

Continue reading
847 Hits
0 Comments

Getting the most out of VAT

Getting the most out of VAT

Every year VAT is becoming increasingly more complicated as HMRC continuously amends and introduces new rules and regulations. In conjunction with this, the government is working harder than ever to clamp down on any tax irregularities.

Tags:
Continue reading
873 Hits
0 Comments

Annual staff parties

Annual staff parties

Businesses often get confused over the tax free amount they can spend on employees at an annual party.


Currently, £150 (including VAT) can be spent in respect of each employee at the annual party. If, however, the expenditure exceeds the £150 allowance then the whole amount becomes taxable, not just the excess over £150 and has to be reported on the business’ Forms P11D. The allowance covers all costs associated with the event, such as taxis home or accommodation costs. To be applicable the event has to be available to all staff members.

Continue reading
787 Hits
0 Comments

How to treat website development costs in accounts

How to treat website development costs in accounts

The accounting treatment for the costs of building and maintaining your website depend on how you intend on using it.


If it is going to act as a brochure website where customers use the site to find out about your business and products but do not buy directly from the site, then you should put the development costs through the profit and loss account as an expense. Clients like this treatment as it reduces their taxable profits and therefore the business’ tax bills.

Continue reading
3832 Hits
0 Comments

Local cricket clubs stumped by HMRC

Local cricket clubs stumped by HMRC

The Telegraph has recently highlighted the plight of minor league cricket clubs that have fallen under the radar of HM Revenue & Customs who have carried out several recent tax investigations.

Tags:
Continue reading
906 Hits
0 Comments