Business as usual, we are here to help.

We are all homeworking & providing all our usual services.  Areas where we are seeing an increased need for help; 1. Preparation of forecasts & loan applications.  These are needed to assist businesses with cash requirements over the next few months .They are required to support business interruption loan applications which we are assisting with… Continue reading Business as usual, we are here to help.

Free Useful Resources

Access to really useful resources including: calculators, tax rates and allowances, market data, a tax calendar together with access to HMRC and Companies House forms. To get access to these free useful documents use this link https://www.torrwaterfield.co.uk/resources Why not register to receive our Monthly Newswire? Registration will allow you to: receive our monthly email packed… Continue reading Free Useful Resources

Dormant companies – obligations

What is a dormant company? A company or association may be ‘dormant’ if it is not trading and doesn’t have any other income - for example from investments. A dormant company has different obligations for corporation tax, annual accounts and returns for Companies House in comparison to a trading company. Dormant companies and corporation tax… Continue reading Dormant companies – obligations

A GUIDE TO ACCOUNTING REFERENCE DATES AND PERIODS

I am sometimes asked, “What date should my company accounts be made up to?”. It’s a very important question because there are deadlines connected to the filing of accounts with both Companies House and HM Revenue and Customs.  Automatic penalties are issued to companies where their accounts have been filed late.  Being aware of your… Continue reading A GUIDE TO ACCOUNTING REFERENCE DATES AND PERIODS

When is a van not a van?

It's not important whether the vehicle is a van. What's important is that it's not a car. For VAT purposes it will be a car if: It is of a kind normally used on public roads, has three or more wheels and either: is constructed or adapted for carrying passengers; or has roofed and windowed… Continue reading When is a van not a van?

Hot Topic Making Tax Digital for Business

The government have issued information on how Making Tax Digital for Business (MTDfB) is expected to work for VAT once the rules are introduced in April 2019. Under the proposed rules, which have been issued subject to consultation, VAT registered businesses with turnover over the VAT registration threshold will be required to submit their VAT… Continue reading Hot Topic Making Tax Digital for Business

Have you got a moment?

  Have you got a moment? Do you dread hearing that in your office or, in fact, anywhere? It invariably means that your plans have just been scuppered and that you will know have to spend a chunk of time looking at something completely different. Exactly how long is a moment? I guess I’ve always thought… Continue reading Have you got a moment?

Changes to information requirements about people with significant control

In 2016 UK companies and UK limited liability partnerships (LLPs) were required to keep a register of people with significant control (PSC register) and to file relevant information at Companies House. New rules have now been introduced as part of the UK’s programme implementing the EU Fourth Anti-Money Laundering Directive and tackling money laundering and… Continue reading Changes to information requirements about people with significant control

Thinking of an Upgrade?

If the seemingly endless adverts are to be believed then if you subscribe to online bookkeeping software such as QuickBooks or Xero then your bookkeeping will become effortless, will probably be done in a coffee shop or on the go and will leave your accountant kissing an iPad with glee. Whilst new software isn’t going… Continue reading Thinking of an Upgrade?

Tax Calendar

The following Tax Events are due on 19th July 2017: Business Tax Events PAYE quarterly payments are due for small employers for the pay periods 6th April 2017 to 5th July 2017. This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions… Continue reading Tax Calendar