HMRC has issued advice on customs, excise and VAT if the UK leaves the EU without a deal on 29 March. Aimed at VAT-registered businesses that trade with…

A recent report by the House of Lords Economic Affairs Committee warned that the increased powers given to HMRC to tackle tax avoidance and evasion are undermining the…

All successful companies want to generate profits and surplus cash reserves.  While a business is growing, spare cash is commonly reinvested into the working capital but for more…

Where did the last 7 years go? Born from a management buy-out in November 2011, Magma Chartered Accountants is 7 years old this week. We wanted to highlight…

Did you know there is a package of tax reliefs introduced to encourage investment in sport? CTA10/PART6A extends the circumstances in which contributions to grassroots sports can be…

Tax impacts land and property owners in a multitude of ways.  From Stamp Duty Land Tax on purchase, to tax on sale or death (…whichever comes first!)  We…

Unlike the last few, yesterday’s Budget proved quite eventful for private businesses and successful individuals.  Magma’s review is focused on those impacts. To read more, click here  

According to official figures, since 2015, HMRC has clawed back more than £332m in tax in a crackdown on football. At this time HMRC has open ‘enquiries’ into…

From 1 April 2019 Making Tax Digital (MTD) will be compulsory for VAT-registered businesses with a turnover above the current VAT registration threshold of £85,000. Under the scheme,…