Kilsby Williams urges businesses to check for furlough claim inaccuracies following HMRC warning
South East Wales’ largest independent accountancy firm is urging all business that have utilised the Government’s Coronavirus Job Retention Scheme (CJRS) to thoroughly check their claims for inaccuracies before the cut-off date, to avoid the risk of fines or even prosecution. Newport-based Kilsby Williams is issuing this warning following a growing number of businesses recently […]
Key questions for hoteliers at the start of 2019
There are many, varied challenges associated with running a successful hotel, and as well as getting guests through the door, and ensuring that they have an enjoyable stay, it’s important that all the background operations run smoothly too. Hotel owners need to constantly examine their operations to ensure that they are controlling costs and […]
Changes to taxation and reliefs on homes and properties
In recent years we have seen a tightening of reliefs for those people with second homes which they let. In the recent budget the focus shifted to those people selling or letting their main residence. Some key points are: Previously recognition that our home may take a while to sell and that we should not […]
Changes to Entrepreneurs’ Relief
Recap – Entrepreneurs’ Relief (ER) reduces the capital gains tax payable by individuals on gains realised on disposals of shares from 20% to 10% subject to a number of conditions. In the recent Budget the chancellor announced that ER would be restricted from 29 October 2018 so that it would only be available to individuals […]
Making Tax Digital – What Next?
With very limited exceptions, from 1 April 2019 if your business has taxable turnover in excess of £85k, you must sign up to Making Tax Digital (MTD) for VAT. 1 April 2019 – VAT returns must be submitted to HMRC digitally 1 April 2019 – Business records must be maintained in a digital format (software/spreadsheets) […]
Increased tax incentives for investment in plant, equipment and buildings
Businesses planning on acquiring or constructing new capital assets, e.g. plant, equipment or buildings, should consider the timing of their projects to ensure they maximise the tax reliefs available to them in the form of capital allowances. There were a number of changes announced during the 2018 Budget that have increased the tax incentives open […]
