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Why not come and join us on 27 June 2020 for the World Aunt Sally Championships?  

Taking a break from our world of numbers Bronsens are pleased to sponsor this years Chip Lit Festival Our chosen author is Marian Keys who will be reading from her new book “Grown Ups” on Saturday 25 April 18:00 – 19:00 at The Theatre Chipping Norton Tickets on sale to the general public from 2 […]

This article considers the question: should businesses invest in new equipment or other long-term capital acquisitions at this time? In truth, no one knows what the impact of the Brexit will be? Brexiteers believe that the floodgates will open, and the rest of the world will rush to buy our goods and services whereas Remainers, […]

In order to qualify as a deduction for tax purposes we have to demonstrate that the expenditure was incurred “wholly and exclusively” for the purposes of our business or employment. We will also need to consider a further criterion: where the expenditure has a duality of purpose. In a 1980’s case, a barrister claimed for […]

Companies House have published a list of bizarre excuses for the late filing of their statutory accounts. They include: “goats ate my accounts” “I found my wife in the bath with my accountant” “pirates stole my accounts” “we delivered the accounts to the betting office next door to Companies House” “a volcano erupted and prevented […]

Suppliers who sell goods and services to larger concerns often find that the terms of their supply, limits or bans the process of factoring the debts to release funds into cash flow. Cynically, this could be seen as a method these larger customers have used to control options available to their smaller suppliers. Unfortunately, suppliers […]

Options for reducing the impact of taxation on our earnings are somewhat limited. That said, there are still opportunities that will keep you the right side of the law and will increase the take home pay of employees. One such opportunity available to employers is to pay so-called trivial benefits. The benefits may be of […]

HMRC has about-faced regarding the ban on using spreadsheets to work out your VAT return data from 1 April 2019, when the new requirement to file VAT returns using Making Tax Digital (MTD) format is introduced. Bowing to pressure from industry, the accountancy profession and Parliamentary committees, HMRC has now agreed that you can use […]

HMRC is still required to obtain certain returns from you even if there is no income or tax to declare. Failure to submit will likely trigger late filing penalties and unfortunately, pleading ignorance of your obligations to file “nil” returns is not a reasonable excuse. Which begs the question, what is a reasonable excuse? HMRC […]

If you are a sole trader, or in a basic partnership, and if your business gets into financial difficulties, any liabilities that cannot be covered by the disposal of business assets may have to settled out of personal assets. In accountancy speak, you have unlimited liability; there is no protection for your personal assets. You […]

Countdown to off-payroll rules change The extension of the public sector off -payroll working rules (known as IR35) to the private sector is still set to go ahead in April 2020, despite the postponement of the Budget and a call from the Federation of Small Businesses (FSB) for the change to be delayed. Click here […]

Although the Brexit issue is not yet decided it may be salutary for businesses to consider the changes they will need to face if we depart with a no-deal Brexit. We have touched on these issues in past articles posted on this blog, but today we have reproduced the present regulations you will need to […]

Guidance on the use of a British passport to travel abroad after 29 March 2019, if there is a “no-deal” Brexit, was issued by government last month. The pertinent facts are reproduced below: After 29 March 2019, if you’re a British passport holder (including passports issued by the Crown Dependencies and Gibraltar), you’ll be considered […]

As we will possibly live on until our 80s and beyond, and as that may involve coping with disability of one form or another, the need for consideration of support as we get older is ever more pertinent. Readers will no doubt have heard the term “power of attorney”, but not many, we suspect, will […]