Grant McKnight Blog

HMRC have just issued some fresh policy guidance, dated 13 August 2020, on their collection of debts.  How HMRC treats customers who have a tax debt. Note that HMRC says here that: 'There is no standard Time to Pay arrangement. We discuss a customer’s specific financial circumstances, look at what they can afford to pay, and then use that to work out how much time they need. There’s no upper limit on the amount of time that someone can have to pay, but we will look for customers to repay their debt as quickly as possible while maintaining affordable payments.' How HMRC supports customers who have a tax debt In it they say: ''We start by asking business customers about their company’s financial position. As with our individual customers, it’s really important that we have an open and honest conversation to understand what the business can afford to pay. Business finances are often complex, so we ask our business customers to calculate what they feel they can afford to p

  Partnership with R&D tax credit specialists R&D Tax North West Ltd We have some exciting news! We’ve agreed a collaborative partnership with R&D tax credit specialists R&D Tax North West Ltd. This will allow us to expand our capability to offer full support for businesses seeking tax relief for their research and development activities. @NickBiden from R&D Tax North West will look after the R&D tax relief application process, while we look after our client’s tax planning and financial accounting. This joint approach will enable us to provide a technical level of insight from a consultant known to have a keen eye for innovation. Nick has worked on many high-profile projects, including nuclear (MofD), renewable energy and the water industry. Trained as a mechanical engineer, he has a detailed knowledge of industrial engineering, which includes project management and producing feasibility studies. Many businesses do not realise that some of their activities are

Business is booming for accountants who embrace new technology Positive disruption is good for the industry, Sage survey indicates       (Image credit: Pexels) Bookkeeping professionals are becoming more tech savvy in the face of increasing pressures from inside and outside their businesses, new research has claimed. Business accounting software  giant Sage surveyed of 3,298 accountants across the globe, finding that clients often expect them to offer an increasing range of  digital services  in place of, or alongside more traditional bookkeeping practices. As a result, accountancy businesses are being required to invest in expanding their capabilities, with 82% saying that clients are demanding more business advice and consultancy services. At the same time, 87% of those surveyed agreed that their customers expect more flexibility and better service without an increase in rates. Have a look at the  best accounting software The  best tax software  around today Check out the  best money