VAT payments and surcharges

If you don’t pay all the VAT you owe on time, HMRC will eventually send you a surcharge calculated as a percentage of the unpaid VAT. This surcharge is not interest, and doesn’t relate to length of the delay for the payment, just the amount of unpaid VAT. The surcharge increases each time the VAT…

Public sector contracts

When you work as a contractor through your own personal company, you will be aware of the IR35 rules, which have been around since April 2000. If you contract for a public sector body (PSB) you should be aware that the application of the IR35 rules has changed significantly since 6 April 2017. For contracts…

Claim back SDLT

If you bought a house or flat after 1 April 2016, you may have paid a stamp duty land tax (SDLT) supplement of 3% on the entire value. This supplement is generally not due when you replace your main home, even if you end up owning more than one residential property after the purchase. However,…

Big win for Stockport’s NK Theatre Arts

Stockport’s NK Theatre Arts has had three big wins at the 2017 Manchester Musical Awards, which recognises the achievements of musical societies and theatre companies in the Greater Manchester region with the Awards taking place at The Victoria and Albert hotel in Manchester on Saturday 10th June. NK received a total of 14 nominations, more…

Plan to be strong and flexible

Confucius said; ‘The green reed which bends in the wind is stronger than the mighty oak which breaks in a storm’. We can help your business be that green reed, which reacts quickly and flexibly to changing commercial conditions, and to new regulations. We know the business environment will come under some pressure over the…

Stockport Business Awards 2017 shortlist

The shortlist has been announced for Stockport Business Awards 2017. The awards, now in their 6th year, were set up by Clarke Nicklin Chartered Accountants back in 2012 to recognise and reward business excellence in the town. Judging took place at headline sponsor Orbit Development’s Beckwith House property last week, and the panel was made…

NEW SPONSOR FOR STOCKPORT BUSINESS AWARDS

Stockport Business Awards are now in their 6th year, bigger and better than ever the awards celebrate business success in the borough and are now established as one of the best nights in the Stockport Business calendar.   The awards have always been supported by local businesses and this year organisers are delighted to welcome…

STOCKPORT BUSINESS AWARDS OPEN FOR ENTRIES

It’s that time of year again; the Stockport Business Awards are back and open for entries. Last year a record number of entries were received and organisers, Clarke Nicklin, are hoping to uncover even more successful businesses again in 2017. Andrew Baggott, of Clarke Nicklin commented: “Last year we were celebrating our fifth awards ceremony….

Students have a Gander at business life

Last week we were proud to be part of Gander and Seashell Trust’s business challenge. The two organisations joined forces for this ‘The Apprentice’ style search for business leaders of the future, which also had the added benefit of raising funding for the charity. For those that don’t know, Gander brings business and education together…

VAT flat-rate scheme

Many small businesses can save time by using the VAT flat-rate scheme. You may even make money out of the scheme if the flat-rate percentage applicable to your trade sector is particularly favourable for your business. The tricky bit is picking the right trade sector for your business. Use normal English to describe what your…

Stamp duty land tax problem

The block on deducting interest and finance charges from residential rents for income tax purposes (introduced from April 2017), won’t apply to companies. For this reason, many landlords are looking at incorporating their property lettings businesses. However, the big hurdle is the Stamp Duty Land Tax (SDLT) which is payable by the company when it…

Sign-in online for tax refund

Every year HMRC reconciles the tax position for employees and pensioners who are taxed under PAYE. If a tax refund is due, or more tax is payable, this is reported to you on a form P800. HMRC wants to send any tax refund due by electronic transfer straight to your bank account. But to do…