More recent posts
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Auto-enrolment fines rise 146%
A recent report from the Pensions Regulator shows that fines issued to employers that fail to comply with their auto-enrolment responsibilities have more than doubled over the last…
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HMRC launches new disclosure facility to combat corporate tax avoidance
HM Revenue & Customs (HMRC) has announced the launch of a new ‘profit diversion compliance facility’ designed to encourage Multinational Enterprises (MNEs) to disclose mistakes and/or non-compliance related…
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Patent box Research & Development relief up 25%
The aim of the Patent Box is to provide an additional incentive (in the form of reduced corporation tax) for companies to retain and commercialise existing patents and…
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Magma strengthens Audit team
Magma are pleased to announce that Matt Norris has joined their Rugby office as Manager within the Audit team. Matt, a Chartered Accountant, brings with him significant experience,…
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Cryptoassets for individuals
Cryptoassets are a relatively new type of much talked about asset. This sector is fast-moving and developing all the time. The CATF (Cryptoasset Taskforce) have currently identified three…
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Outsourcing payroll – doesn’t it make sense for your business?
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll.…
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How to avoid tax charges for overdrawn director’s loan accounts
In a personal or family company, the lines between the directors as individuals and the company are often blurred – the director may lend money to the company…
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HMRC change of policy on VAT treatment of retained deposits
HMRC has recently issued Revenue & Customs Brief 13 (2018), explaining their new policy on VAT treatment of retained payments and deposits. This may be relevant to companies…
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Countdown to Tax Return deadline
The deadline for submission of online self-assessment tax returns is 31 January 2019. If you send your return late, you will receive a £100 penalty – even if…