CHANGES TO YOUR BANK FEED

If you use cloud accounting software such as FreeAgent, QuickBooks or Xero, important changes are taking place in September that will affect you.   The open banking initiative runs alongside the EU’s Second Payment Services Directive (PSD2) which came into force in January 2018. The effects of PSD2 are starting to roll out, and if[…]

HOW TO MEASURE RETURN ON MARKETING INVESTMENT

  Calculating return on investment (ROI) on marketing activity has been a longstanding challenge for businesses. Next year MMGA celebrates its 100th anniversary, so I have been contemplating our marketing budget. I thought it useful to share my thoughts with you:   Return on marketing investment is a metric used to measure the overall effectiveness[…]

THE POWER OF SAYING “NO”

It’s important to be able to say “no” at work without making enemies.   It’s a simple word, but one that far too many of us have trouble saying. Perhaps it is because you’ve become successful by saying yes to every business opportunity, every request that has come your way, in order to grow your[…]

WHEN IS A VAN NOT A VAN?

HMRC are being urged to provide clarity and consistency on the tax treatment of commercial vehicles such as VW Kombi Vans marketed as goods vehicles. The need for clarity follows the ruling in an important tax tribunal case involving “vans” provided to employees of Coca Cola. The court has upheld the HMRC view that certain[…]

VAT REVERSE CHARGE FOR BUILDING AND CONSTRUCTION SERVICES

The Government is introducing a VAT reverse charge on certain building and construction services. The legislation will come into effect on 1 October 2019. This is a very significant development which will present major challenges for many building contractors. Businesses involved in buying and selling construction services will need to understand the new rules.  […]

WHY SHOULD I TAKE FEE PROTECTION INSURANCE?

This is a question that I get asked a lot at this time of year. One reason for this is because we issue our insurance renewals, but another is because clients are unsure if they are covered by other insurance products that they take out and whether they actually need the protection that we offer.[…]

OFF-PAYROLL WORKING RULES GOING AHEAD

The draft Finance Bill clauses issued for consultation on 11 July include legislation to extend the “off-payroll” working rules to the private sector from 6 April 2020. These changes will have significant implications for workers providing their services through personal service companies and also the end user organisations that engage such workers.   End users[…]

CGT PRIVATE RESIDENCE RELIEF CHANGES

Draft legislation to be included in the next Finance Bill will make important changes to the calculation of CGT private residence relief. As announced in the Autumn 2018 Budget, there will be a reduction in the final period exemption to just nine months and stricter conditions for letting relief to apply. Currently where a property[…]