News

Rules on directors’ tax returns are not as clear you might think - 25 Jul, 2017

George Hay Chartered Accountants

Per the gov.uk guidance, a director must register for self-assessment (SA) and send a personal SA tax return to HM Revenue & Customs (HMRC) each year, however, this doesn’t always apply. There are…

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Opposing HMRC penalties on grounds of ‘reasonable excuse’ - 25 Jul, 2017

George Hay Chartered Accountants

Recent reports have cast light on some of the most unusual and unexpected scenarios where self-assessment taxpayers have successfully appealed late filing and late payment penalties issued by HM Revenue…

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Take control of your cashflow - 25 Jul, 2017

George Hay Chartered Accountants

Effective cashflow management is crucial and quite necessary when it comes to the success of a small business and staying on top of what comes and goes is vital if your business is to grow. However, we…

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Persons of Significant Control – changes to Companies House Reporting - 25 Jul, 2017

George Hay Chartered Accountants

Last year saw a whole host of changes come into effect at Companies House. Amongst the new measures introduced was the requirement for companies to keep a register of Persons of Significant Control (PSCs)….

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I’m a non-resident landlord. Do I have to file a tax return in the UK? - 25 Jul, 2017

George Hay Chartered Accountants

If you have resided abroad for six months or more in a year, you are classed as a “non-resident landlord” and the income you collect from renting out your UK-based home whilst abroad is taxable in…

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Huge fines for employers stalling workplace pensions - 25 Jul, 2017

George Hay Chartered Accountants

Around 800,000 small businesses are still yet to enrol into the Government’s flagship pension scheme, new figures have revealed. The Pensions Regulator, which published the report, said nearly eight…

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WannaCry? Not if you prioritise cyber security - 21 Jun, 2017

George Hay Chartered Accountants

Last month more than 200,000 computers across 150 countries were infected during the WannaCry ransomware attack, including the systems of several NHS trusts. The cyber-attack caused mass hysteria and crippled…

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The Big Squeeze – A slowdown in pay and consumers parting with cash - 21 Jun, 2017

George Hay Chartered Accountants

With inflation hovering around 2.7 per cent, many businesses are facing a period of elevated costs and a slowdown in consumer spending – a trend which, like the Chartered Institute of Personnel and Development…

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Can you benefit from capital allowances on commercial premises? - 21 Jun, 2017

George Hay Chartered Accountants

If you own your own business premises, you may be entitled to claim capital allowances on several of the costs associated with the ‘intrinsic fabrication’ of the building. The ‘intrinsic fabrication’…

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‘A business support black hole’ predicted for post-Brexit Britain, according to the FSB - 21 Jun, 2017

George Hay Chartered Accountants

A new study from the Federation of Small Businesses (FSB) has indicated that the UK’s army of small firms will face a funding shortfall of around £3.6 billion by 2021 because of the UK’s withdrawal…

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