by Admin | Jul 8, 2020 | Tax credits
Families and individuals that receive tax credits should ensure that they review their tax credit claims by 31 July 2020. Claimants who do not inform HMRC about relevant changes in their circumstances by the deadline date may have their payments stopped. HMRC has sent...
by Admin | Jul 6, 2020 | Business Support
Accountants would say that working capital is the difference between current assets and current liabilities. It is the capital of a business used in day to day trading operations. Current assets are generally those that can be converted into cash reasonably quickly,...
by Admin | Jul 6, 2020 | Business Support
It may be some time before we could state with some certainty that it was back to business as usual; usual being the business environment before the arrival of Coronavirus. What has changed? The major change has been the dampening of demand due to lock-down and other...
by Admin | Jul 1, 2020 | Accounting Standards
One of the acceptable methods to value stock is at the lower of cost and net realisable value (NRV). NRV is broadly defined as the estimated selling price of an asset less any disposal costs. HMRC provides the following guidance in their Business Income...
by Admin | Jul 1, 2020 | Inheritance Tax
It is possible for wealthier taxpayers to take advantage of the IHT exemption for gifts and payments that are paid as normal expenditure out of income. This is a very flexible exemption from IHT as there are no specific requirements, for...
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