Can you benefit from capital allowances on your business premises?

Can you benefit from capital allowances on your business premises?

If you own your own business premises, you may be entitled to claim capital allowances on some of the costs associated with the ‘intrinsic fabrication’ of the building. The ‘intrinsic fabrication’ of a building includes items such as lighting, heating, plumbing, electrics and fire safety systems. It essentially covers the items that are necessary for the business to be able to function. Capital allowances mean Read more…

HMRC confirms stance on VAT accounting changes

HMRC confirms stance on VAT accounting changes

UK businesses only need to change the way that they account for VAT on transactions between overseas members of the same corporate group if they operate in countries whose tax laws work the same way as in Sweden, HM Revenue & Customs (HMRC) has confirmed. The changes, which apply to transactions on or after 1 January 2016, will predominantly affect businesses operating in member states Read more…

Autumn Statement 2015

Autumn Statement 2015

For the third time in 2015, the Chancellor of the Exchequer has taken to the despatch box to update the Commons and country as a whole on the state of the nation’s finances. There was a lot of debate ahead of today’s Autumn Statement about the approach that George Osborne would take. Would cuts or compromise be the order of the day? And how many Read more…

Summer Budget 2015

Summer Budget 2015

Budget Summary In the first Conservative budget in 18 years, George Osborne has delivered a number of measures – some well publicised in advance, others a surprise – in what he says puts security first and recognises the hard-working British people. Our summary deals mainly with the taxation issues raised today.  As usual the devil will be in the detail, we therefore plan to provide Read more…

Surprise summer Budget on way

Surprise summer Budget on way

Chancellor of the Exchequer George Osborne has announced there will be a surprise second Budget in July. Following the Conservative victory in the 7 May general election, he confirmed on 16 May that there would be a summer Budget on 8 July. Writing in the Sun newspaper, Mr Osborne said: “I am going to take the unusual step of having a second Budget of the Read more…

£223bn in SME debt ‘unprotected’

£223bn in SME debt ‘unprotected’

Small and medium-sized enterprises (SMEs) in the UK are exposed to serious levels of financial risk, with £223 billion worth of corporate debt currently unprotected, according to new research.

According to a study commissioned by Legal & General as part of its Every Business Matters campaign with professional advice search website unbiased.co.uk, 51 per cent of businesses have some form of corporate debt, averaging £144,980.

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UK counts £52bn cost of fraud

UK counts £52bn cost of fraud

Fraud is costing the UK economy billions of pounds a year, new research has found.

The Annual Fraud Indicator, compiled by the National Fraud Authority (NFA) and published on 6 June, put the annual cost at £52 billion.

Private businesses were estimated to have suffered total fraud losses of £15.9 billion while the public sector faced a £20.6 billion fraud bill. The cost to individuals was put at £9.1 billion, while charities were estimated to have suffered losses of £147 million. Fraud affecting financial and insurance activities was put at £5.4 billion.

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