Latest News

Are changes to VAT imminent?

The Office for Tax Simplification (‘OTS’) released their report Value added tax: routes to simplification on the 7^th November 2017.

After taking some time to read through this report, I am pleased to report that there are many positive ideas coming out of this, along with one not so positive recommendation, which may have a significant impact on small businesses.

The portrait tour continues in Northallerton

Our 150th anniversary celebrations continued in Northallerton, with the clients' portraits being shown at Romanby Golf Club at the beginning of November.

Attending the event, alongside 80 guests, and featured as part of the project was Thirsk’s Judy Bell, founder of 30 year old award-winning artisan cheese producer, Shepherd’s Purse.

Also captured in oils was Beryl Gatenby, director of fit-out and construction specialists Simpson (York) Ltd who expressed her delight at being part of the portrait collection,

Is the VAT registration threshold set to be reduced?

Currently only businesses with taxable turnover above £85,000 per annum are required to be VAT registered in the UK.

As part of their review into the UK’s VAT system, the findings of which are due to be released this week, the Office for Tax Simplification (‘OTS’) has been reviewing whether this current threshold should be retained.

The UK currently has one of the highest registration thresholds in the world, with only Singapore having a significantly higher level.

New VAT Specialist Brings Health Check Service to Tax Team

Armstrong Watson’s award winning tax consultancy team are celebrating with the recent appointment of Steve Ferrie to the firm.  Steve joins as a VAT Consultant following a 39 year career with HMRC, primarily as a VAT Inspector.

Call to Family Businesses to Participate in Largest Survey of its Kind

Armstrong Watson, Accountants, Business & Financial Advisers has launched its third annual Family Business Insight Survey in a bid to delve into the current issues dominating the agenda for UK Family Business.

With the results aimed at providing vital insight into the unique challenges and opportunities faced by Family Business, the firm is urging participation from family businesses from all sectors and regions.

Insolvencies on the rise – what will happen when interest rates go up?

I read with great interest this week that Government statistics show that applications for Individual Voluntary Arrangements (IVAs) - where an individual comes to an agreement with their creditors to pay back their debts over a period of time - have reached their highest level since they were introduced in 1987.  In England there were 15,523 IVAs recorded in England & Wales in the third quarter, rising from 13,290 in the same period a year ago.

The portrait tour lands in Skipton

We are well under way with our Yorkshire leg of the portrait tour, with Skipton hosting their 150th anniversatry celebrations, a. To commemorate the occasion, the firm has taken a unique approach by commissioning a series of 10 client portraits by award-winning artist Helen Perkins and presented the aptly named ‘Face Forward’ project at a special event held at Utopia, Broughton Hall, Skipton.

What actually IS the 'Internet of Things'?

Tony Bullock Accounting Senior Manager, discusses the ‘Internet of things’ and looks into why an increasing number of businesses are embracing this technology.

“Aren’t R&D tax credits only for businesses using test tubes and wearing lab coats?”

R&D (Research and Development) tax relief is not just limited to manufacturing. By taking a genuine interest in how our clients' businesses operate we have uncovered R&D processes other areas. Find out what areas Armstrong Watson can help you gain tax relief.

Multiple Gold Medallist Celebrates Yorkshire Family Business at Skipton’s Broughton Hall

World and Paralympic Champion Cyclist, Jody Cundy OBE, joined renowned local business leaders, Gordon Black CBE, of Black Family Investments, and Tim Dewey CEO of Timothy Taylor at a Family Business Networking Lunch held at Broughton Hall, Skipton.

The event, hosted by Armstrong Watson Accountants, Business and Financial Advisers, Gordons Solicitors and HSBC, brought together family business figureheads from across the region for this unique opportunity to listen to the insight and experiences of prominent business leaders and to hear inspirational stories.