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MAKING TAX DIGITAL FOR VAT

MAKING TAX DIGITAL FOR VAT

24.10.2017 / by Gillian Jackson / 0 comments

Making Tax Digital for VAT 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…

EU VAT CHANGES FOR 2015

EU VAT CHANGES FOR 2015

12.12.2014 / by admin / 0 comments

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.

USES OF FINANCIAL REPORTS

USES OF FINANCIAL REPORTS

12.12.2014 / by admin / 0 comments

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more detailed understanding of the figures.

FUNDAMENTAL ACCOUNTING

FUNDAMENTAL ACCOUNTING

11.12.2014 / by admin / 0 comments

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

SAVE ON TAXES

SAVE ON TAXES

11.12.2014 / by admin / 0 comments

Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was introduced in 1973 and is the third largest source of government revenue after Income Tax and National Insurance. It is administered and collected by HM revenue and customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the European Union.

ACCOUNTING 1 ON 1

ACCOUNTING 1 ON 1

11.12.2014 / by admin / 0 comments

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

PROPER INVOICE INFO

11.11.2014 / by admin / 0 comments

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…

Budget highlights – March 2013

27.03.2013 / by admin / 0 comments

– Personal allowance increased to £9,440 for the year 2013/14, and a further increase to £10,000 in 2014/15. – A £2,000 Employment Allowance for businesses and charities to set against their employer national insurance contributions from April 2014. –  The…

Expert accountancy support

12.08.2011 / by admin / 0 comments

We provide a full spectrum of accountancy, taxation and business support services with an attitude of proactive advice and support.  We work with you to help ensure that your affairs are always in good order rather than taking remedial action…

Taxation Advice

12.08.2011 / by admin / 0 comments

Keeping on top of Payroll Tax records and VAT can be a serious strain for small businesses. It’s time consuming and detailed work which needs to be done on a regular basis and can distract busy business owners from other…

Retirement planning

12.08.2011 / by admin / 0 comments

At Clement & Co we have many years of experience and acquired expertise in advising clients in the often complex business of either “passing on” the business to other family, selling out a stake or selling the whole business.

Business planning

12.08.2011 / by admin / 0 comments

Businesses are now under increasing requirement by their bankers for more detailed and continually updated business plans to ensure financial support not only for new projects but even for continuation of existing facilities.

The Farmer’s Accountant

12.08.2011 / by admin / 0 comments

William Wyllie FCCA, one of our partners, has completed the EU sponsored Rural Business Development Advisers Programme.

Proposal for SME records checks by HMRC

12.08.2011 / by admin / 0 comments

HM Revenue & Customs has driven ahead with a ‘Pilot Scheme’ for HMRC records checks. Although there were assurances that there would be no ‘live’ action on SME Records Reviews, warning letters have been issued to a number of pilot…

Tax Agents and HMRC – Proposed review

28.07.2011 / by admin / 0 comments

We are currently studying the detail,  with a view to responding to a Survey of Members in practice by ICAS. Basically, we welcome the acknowledgement by HM Revenue & Customs of the vital role played by professional tax advisers such…

Staff update July 2011

1.07.2011 / by admin / 0 comments

We are delighted to welcome Alistair Bryson, a school leaver, to the accountancy and business tax services team. Alistair will be contributing to the team at Clement and Co as a trainee accountant, initially working towards an AAT qualification. Then…