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The Coronavirus Job Retention Scheme

Government grants relating to Coronavirus (COVID-19) It is important to note that all grants received from the government to provide support in respect of COVID-19 are taxable. For companies, the funds received will be added to income in the annual accounts. For the self employed the grant will be added to your profits and reported…Read More

Coronavirus Event – now live

26th March 2020 Here at Davies Tracey we always aim to ensure that our clients receive the best possible advice, and so last week we teamed up with Avensure to host a free event relevant to businesses at risk due to the Coronavirus outbreak. The demand for places was high, and as such we are pleased to…Read More

Coronavirus Update – contacting us

24/3/20 Further to the latest government announcement, all Davies Tracey staff will be working from home as of tomorrow (25th March). We have prepared for this eventuality and are confident that we can continue to provide an excellent service to our clients. Until we resume our normal office working arrangements, you can contact us in the following…Read More

Coronavirus Update

Throughout the Coronavirus outbreak, our main priority is the health and safety of our staff and clients, closely followed by continuing to provide an excellent service to our clients. As such, we ask that you choose alternatives to face-to-face meetings whenever possible. Telephone and video calls can be arranged, and documents can be brought into…Read More

Reflections on the 2020 Budget

by Ian Kelly, Tax Partner, March 2020 Well, his first Budget is over and Rishi Sunak spent an awful amount of time talking about ‘getting it done’. After only 27 days in his new job as Chancellor of the Exchequer, Mr Sunak had to wrestle with a United Kingdom and its economy that, in a…Read More

What is IR35, and why does the private sector need to know?

Ian Kelly’s ‘Taxing Thoughts’ – November 2019 With the expansion of off-payroll working (IR35) from the public sector into the private sector from April 2020, a recent case found in favour of HMRC in respect of three BBC presenters is a timely reminder of when things can go wrong. It’s maybe a good idea to…Read More

Digital City – opportunities and challenges

Last month, Middlesbrough Mayor Andy Preston and Tees Valley Mayor Ben Houchen announced a £45 million pound development of a digital campus (three 20-storey towers for apartment and office blocks), kick-starting a wider £250m investment in the digital and creative industries to make Middlesbrough “the first digital city in the UK”. Since the news broke, we have spoken to Davies Tracey clients in the industry about both…Read More

Avoiding late payments from customers – Our Top Tips

In September, new research (from Hitachi Capital UK, full article here) showed that almost a third of SMEs (31%) have experienced late payments costing their business at least £10,000 in the last 12 months. Having dealt with several clients who have experienced a profit squeeze because of late payments, we have put together a list of tips to…Read More

September Tax Tips Newsletter

Non-Residents and UK Property HMRC’s guidance for non-UK residents disposing of UK property has been updated to reflect the changes which took effect on 6 April 2019. The guidance note can be found here. Loan Charges The government has announced an independent review of the Disguised Remuneration Loan Charge. The Treasury has asked for the report…Read More

IR35 (Practice News August 2019)

The spectre of IR35 continues to loom over the contractor world and those engaged by the public sector. There have already been several cases heard at tribunal surrounding individuals working for the BBC under their own limited company, otherwise known as off-payroll working, and more cases are expected. The extension of the off-payroll working rules…Read More

Predicting this year’s Budget

6th June 2019 Our Tax Partner Ian Kelly discusses what might attract the Chancellor’s interest over the next few months, and advises on pre-emptive actions to consider. Brexit. It’s safe to say, this word won’t disappear any time soon. Had the UK left the EU as intended in March then we may have had a…Read More

Changes to VAT on Construction

New legislation from HMRC will come into force on: 1ST OCTOBER 2019 Please speak to us to clarify how the Construction Services Domestic Reverse Charge affects you. As ever, we are highlighting this now in order for our clients to prepare for the changes, which may impact cash flow and your accounting software. The measure will introduce a…Read More

The new tax year

28TH MARCH 2019 When I wrote last November about the increasingly hectic Tax Return season for the year ended 5 April 2018, we had had the first spell of bad weather and the clocks had just gone back giving us instantly darker evenings. Here we are now with a not too bad winter (hopefully!) behind us…Read More

Minimise tax for the current year (ending 5 April 2019)

With the dust already beginning to settle on this year’s Tax Return filing season, it is now, traditionally, the time to consider any measures that will help to minimise tax for the current year ending 5 April 2019 and strategies for the following year ending 5 April 2020. For several years now, the existence of…Read More

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