Keep up to date with the latest news and information from UHY Torgersens in Sunderland, Newcastle and Jarrow.
The benefits of cloud accounting – Real time information
July 19, 2018
When data (such as sales invoices, supplier payments, or bank transactions) is entered into cloud accounting software, the system updates the user’s account instantly, giving an immediate view of a business’s most recent financial position. This information can be accessed by the business owner, their colleagues and their accountant from any location in the world, providing an internet connection is available.
The biggest challenges facing small businesses in 2018 – part one
July 10, 2018
Running a business has always been challenging. Making the activity worthwhile for both the owner and the employees even more so. As accountants we are in a privileged position – we get to hear of the grumbles, genuine grievances, and hardships of our business clients earlier and in more detail than other advisers.
Q&A: Claiming expenses when working abroad, the cash accounting scheme for VAT and Marriage Allowance
July 5, 2018
Whether you will be able to claim tax relief on travel expenses depends on the reason for your relocation. If the move is for personal reasons, you will not be able to claim tax relief for expenses. However, if the duties of your role require you to relocate abroad, you should be able to claim for some expenditure incurred. The HMRC Employment Income Manual (EIM34000) can assist with further details.
The benefits of cloud accounting – data on the move
June 27, 2018
The advantages of the cloud over traditional methods of accounting are numerous. In this first in a series of blogs on this topic we look at one of the main benefits: Mobility.
Furnished holiday lets – are they a good investment?
June 18, 2018
What could be more appealing than owning a property in your favourite seaside resort or rural retreat, which you can use when you want to and rent out for profit for the rest of the year? With claims of much better returns than those offered by residential lettings the interest in furnished holiday lettings (FHLs) is on the rise.
The buy-to-let sector – an overview
June 6, 2018
During the 80s and 90s about 10% of households in the UK occupied homes owned by private landlords. However, in the 1990s the increased availability of mortgages to buy properties to let sparked off a growth in this type of investment, so that the number of homes in this sector rose from 2.5 million in 1999 to 4.5 million by 2016.
Innovation: the key to business success
May 30, 2018
A few years ago, we were invited to review a business plan prepared by a start-up company with an innovative idea. The company had been declined investment by a venture capitalist. A good deal of market research had been carried out, key potential customers had indicated their interest, and the company’s bankers had offered some support.
UHY Torgersens joins Durham Cathedral’s Foundation 2020 initiative
May 23, 2018
UHY Torgersens has become a partner of Foundation 2020, an initiative established by Durham Cathedral with an aim to build a £10 million endowment by the year 2020.
May 18, 2018
This month we look at questions relating to mortgage options for landlords, inheritance tax and offsetting the purchase costs of a property against rental income.