The benefits of cloud accounting systems for small businesses
With HMRC’s Making Tax Digital initiative looming on the horizon, many small businesses are anxious about ensuring that they are compliant with the forthcoming requirements. One option to consider is investing in a cloud accounting system that complies with Making Tax Digital requirements. Nottingham chartered accountants Clayton & Brewill explains the benefits of cloud accounting… View Article
Multiple Dwellings Relief – advice for buy-to-let landlords
There hasn’t been much good news for buy-to-let landlords since the former Chancellor implemented the 3% stamp duty surcharge in April 2016. But the Multiple Dwellings Relief offers a chink of light, as Jack Moore explains. George Osborne first announced a 3% stamp duty surcharge on second homes and buy-to-let properties in the 2015 Autumn… View Article
Thinking of starting a new business?
You’ve done the market research and established that your business idea has legs, so now it’s time to start thinking about the legal and financial aspects that will help you get off onto the best possible footing. At Clayton & Brewill we’ve helped hundreds of people to get started in business, preparing business plans, taking… View Article
The implications of Brexit
Yvonne Jackson, partner and chartered accountant with Clayton & Brewill in Nottingham, offers reassurance after the Brexit vote. Following the UK’s historic decision to leave the European Union, many of you will be wondering how the Brexit vote will affect your business and personal finances. Despite a current climate of uncertainty, the UK economy nevertheless… View Article
People with Significant Control – new PSC Register
New rules mean that companies must create and keep an up to date register of ‘People with Significant Control’ and file this information on an annual basis at Companies House. In this Clayton & Brewill briefing note Doug Perry explains what it means for your business. For more information or help with creating your PSC Register,… View Article
Tax changes for public sector contractors
If you provide ‘off payroll’ services to public bodies such as universities, government agencies, schools, the NHS, BBC or Armed Forces, you need to be aware of tax changes affecting you from 6 April 2017. Yvonne Jackson of Clayton & Brewill explains. The government is hot on the heels of individuals who seek to ‘disguise’… View Article
Tax hike on loans to directors and shareholders
In the Budget the chancellor announced that loans to participators will be taxed at an increased rate of 32.5%. Doug Perry of Clayton & Brewill explains. A participator is typically a shareholder or director of a company with five or fewer owners. Other examples include owner-managed and family-owned businesses. Loans can be made to provide an… View Article
Budget Report 2016 – Clayton & Brewill
Welcome to the Clayton & Brewill Budget 2016 report, with an overview of the announcements and changes that may affect you and your business. As always, please do contact us if you would like to discuss in detail the impact of any of these changes. Small Business Rate Relief threshold rising to £12,000 Corporation tax to reach 17% from April 2020 New… View Article
FRS 102: revaluation of property assets
Transition to the new FRS 102 accounting standard will allow business owners to inject a one-off boost to the balance sheet, with a revaluation of land and buildings. It also relaxes the requirements for ongoing property revaluations as Jack Moore, chartered accountant at Clayton & Brewill in Nottingham explains. If you have a property asset sat… View Article
Dividend tax: pay dividends early if you can
The highly unpopular dividend tax will arrive in April 2016, meaning that the majority of business owners will pay more tax. Doug Perry, chartered accountant at Clayton & Brewill, suggests paying dividends early where possible. When the Chancellor announced the new dividend tax, we ran some immediate calculations to compare the tax implications for directors’ remuneration. Would a pay… View Article