Month: September 2015

HMRC to tackle the hidden economy

The hidden economy consists of businesses who fail to register for tax, and individuals who fail to declare a source of income. HMRC estimates that the tax gap in 2012/13 due to the hidden economy stood at £5.9bn, which equates to 17% of the total tax gap. The tax gap is the difference between the […]

The Dash

We were recently reminded of Linda Ellis’ poem The Dash, which you can read in full here. The Dash talks about the life of a man who has passed away, being talked about by his friend at the funeral. The friend refers to everything that he had done and achieved during his life as being […]

10 Tax deduction prompts for SMEs

1. The Car Sole traders and business partners may claim a proportion of their car’s running costs, including petrol, insurance, road tax, repairs and maintenance, based on their annual business mileage. Sadly, your regular home to work travel doesn’t count as ‘business use’ for this purpose. On top of all the running costs, you can […]

September Market Commentary

Introduction “Markets can fall as well as rise…” Never was that statement more true than in August, when virtually all the major world markets headed down, led by the plunging stock market in China. It became virtually impossible to watch a news bulletin without seeing a shell-shocked fund manager or a weeping private investor. It […]