When it comes to financial information, many small businesses keep to the basic quarterly or annual statements from their accountants. Aside from dealing with the daily financial and cash flow issues, owners can make the mistake of neglecting valuable information—information that can be used to manage their businesses successfully now and optimise its health in the future. FRS102 - "The Financial Reporting Standard applicable to the UK and Republic of Ireland" fundamentally reforms financial reporting in the UK could further affect how you remeasure the assets and liabilities of your business..
To truly understand the current state of your business and to plan for the future, you need to understand your financial statements. Financial statements assist you to:...
As announced in the 2013 Autumn Statement, capital gains tax (CGT) is to apply to non-residents disposing of UK residential property, on gains arising on disposals after 5 April 2015.
Before then CGT was not applied to non residents (other than those carrying on a trade in the UK and, since April 2013, on companies subject to the 'annual tax on enveloped dwellings' (ATED)
If you are required to file a Self Assessment tax return there are compelling arguments to support the notion that you should calculate your tax position as soon as you can after the 5 April. Don’t forget, it is possible to work out your tax position for 2014-15 and consider your planning options before you file the return. Certainly, we can undertake this for you.
By the end of May or early June 2015 you should be able to draw together most of the information....