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An Added Value Audit

We have all heard many of the following phrases when discussing the requirement to have an audit:

‘We have to have one’

‘It’s just an overhead’

 ‘A necessary evil’

 ‘A box-ticking exercise’

But what if the audit process can really add ‘value’ to your business?

There are many ways in which an audit can really benefit you and your business, with just a few as follows:

VAT Pitfalls For Your Farming Business

When VAT was introduced in the 1970s it was described as a “simple tax”. For many farming businesses this may be the case, as all income is zero rated sales of crops and animals, which entitles all the VAT on related costs to be reclaimed.

However there are many instances where modern diversified businesses have VAT issues – either having to pay over VAT on some of their income or not being able to reclaim VAT on all their expenses.

Conservative Majority - Financial Markets' Reaction

Future Money Fund Manager, Richard Cole, provides his summary of the financial markets' reaction to last night's Conservative election victory:

Boris Johnson’s gamble to call a general election as a means to unlock the deadlock crippling the House of Commons has proven to be a success. Last night’s exit poll suggested a Conservative majority, with a haul of 368 seats, and with a couple of seats still to declare at the time of writing, the final result has come within a whisker of this level.

Managing your Agricultural Business in a Changing Environment

Managing your Agricultural Business in a Changing Environment with guest speakers Robert Craig of Peepy Farm Northumberland and Adam Day, Managing Director of The Farmer Network.

Chief Economist Provides Economic Insight at Business Leaders Lunch

Mark Berrisford-Smith, Head of Economics at HSBC captivated local business leaders at annual Business Lunch, Broughton Hall, Skipton.

Stephen Dinsmore Leads Armstrong Watson Commercial Funding

Stephen has moved to Armstrong Watson from Sedulo Funding Solutions where he held the role of Senior Funding Manager.

Stephen has extensive experience within the finance industry across the Yorkshire region, working with SMEs to provide the most suitable funding strategies and providing guidance on the raft of lending options available.

What’s the value of your pension?

In April 2015 pension legislation changed resulting in people using pensions as a way to pass on wealth to subsequent generations due to the favourable Inheritance Tax treatment.

Using Your Pension to Live the Retirement you Want

The introduction of pension freedoms has been a huge benefit for the over 55s and can now mean a pension can now offer the ability to take a more phased approach to retirement.

Increasing Tax Burden for Landlords

As many landlords will be aware, the government have over a number of years increased the tax burden of property ownership, particularly residential property, and from 6 April 2020 the government will now further reduce the deemed occupation period allowable under Principal Private Residence relief and remove Lettings Relief - which could considerably increase the amount of Capital Gains Tax a landlord will pay.

Entrepreneurs’ relief may be abolished after the general election

There have been quite a few tax surprises in the leading parties’ manifestos ahead of the general election on 12^th December. Not least amongst these is the possible abolition of Entrepreneurs’ relief (ER) by both the Conservative and Labour parties.