Keep up to date with the latest news and information from UHY Torgersens in Sunderland, Newcastle and Jarrow.
December Q&A: Annual Investment Allowance, penalties for late payments to HMRC and restrictions on a company’s use of carried-forward capital losses
December 14, 2018
Beverley Howells answers your questions on the limit for claiming the Annual Investment Allowance, penalties for late payments to HMRC and restrictions on a company's use of carried-forward capital losses.
Interview with Donna Parkin, cloud accounting manager at UHY Torgersens
December 11, 2018
We asked Donna Parkin, cloud accounting manager with UHY Torgersens’ to give us her perspective on cloud accounting, an essential tool to allow small businesses to access real-time financial information.
How to use your accounts to grow your business
December 3, 2018
Many business owners regard ‘doing the numbers’ as an essential chore. But what if you could use the data generated by your accounting function as a tool to grow your business?
Apprenticeship levy increase to help smaller firms
November 26, 2018
In a bid to make apprenticeship schemes more accessible, the Treasury has raised the amount of the apprentice levy that larger companies can transfer to smaller firms in their supply chain from 10% to 25%.
Case study: From desktop to the cloud in 48 hours!
November 19, 2018
With the help of UHY Torgersens, County Durham Sport has made the move from desktop accounting to a cloud-based system in just two days.
November Q&A: Voluntary VAT registration, gifting for IHT purposes and CIS
November 15, 2018
Alison Henshaw answers your questions on:the advantages of voluntarily registering for VAT, gifting for IHT purposes, and deducting tax from sub-contractors’ wages.
VAT on holiday accommodation
November 8, 2018
Letting of residential accommodation is generally exempt from VAT. However, this exemption does not apply to holiday accommodation (including furnished and non-furnished holiday lettings).
The Budget 2018
November 8, 2018
Now that the dust is settling on the October 29th Budget announcement, we take stock of its economic context and its potential effects on taxpayers and SMEs.
October Q&A: Private residence relief, IHT on gifts and the taxation of a non-UK resident’s company
October 19, 2018
Q: I would like to give a close friend a wedding gift of £15,000. What are the inheritance tax implications of making a gift of this type? A: The cash gift is likely to qualify as a potentially exempt transfer (PET), meaning that
An inspector calls – part two: HMRC is upping its game under increasing political pressure to reduce the ‘tax gap’
October 15, 2018
MTD, in providing more information, could lead to an increase in in-depth investigations. So small businesses will have to be more vigilant and attentive to the accuracy of their accounting records as they clearly are going to be more susceptible to being investigated. It is worth noting that the most common reasons why HMRC may start an enquiry are as follows: