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Macalvins is the modern face of what Chartered Accountants should be. By developing strong personal relationships with our clients we deliver first class, practical solutions and strategic advice to help business owners thrive.

Childcare scheme update

Childcare scheme update

The childcare voucher and directly contracted childcare schemes closed 4 October 2018. In time, these schemes will be replaced by the roll-out of the new Tax-Free Childcare: this offers parents ...
Reporting tips for building contractors

Reporting tips for building contractors

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted. Each month contractors must send HMRC ...
£50 note gets new lease of life

£50 note gets new lease of life

The Treasury has confirmed that the £50 note will continue to be part of the UK’s currency, and further, that the Bank of England will reissue it as a new ...
Saving the High Street

Saving the High Street

In his Autumn Budget delivered 29 October 2018, Philip Hammond made a number of promises including measures to improve the lack-lustre retail sector in our High Streets. There is no ...
Increase in the Annual Investment Allowance

Increase in the Annual Investment Allowance

The Annual Investment Allowance (AIA) is being increased from 1 January 2019 to £1m from the present base level set some years ago of £200,000. The increase is due to be ...
Passport issues if a “no-deal” Brexit

Passport issues if a “no-deal” Brexit

Guidance on the use of a British passport to travel abroad after 29 March 2019, if there is a “no-deal” Brexit, was issued by government in September. The pertinent facts ...

Autumn Budget 2018

The Prime Minister announced at the Conservative Party conference that the end of austerity was in sight. Recent tax revenues have exceeded expectations, and although there was an expectation that these ...
Invoice discounting with larger customers

Invoice discounting with larger customers

Suppliers who sell goods and services to larger concerns often find that the terms of their supply, limits or bans the process of factoring the debts to release funds into ...
About-turn, you can use spreadsheets

About-turn, you can use spreadsheets

HMRC has about-faced regarding the ban on using spreadsheets to work out your VAT return data from 1 April 2019, when the new requirement to file VAT returns using Making ...
What is a reasonable excuse?

What is a reasonable excuse?

HMRC is still required to obtain certain returns from you even if there is no income or tax to declare. Failure to submit will likely trigger late filing penalties and ...
Grants available for food producers

Grants available for food producers and suppliers

Up to £20 million is being made available to increase productivity and sustainability in crop and ruminant agriculture systems through the Industrial Strategy Challenge Fund. Innovate UK are looking for ...
Protect your home

Protect your home

A government think-tank, the Office for Tax Simplification (OTS), was briefed to consider a non-tax issue, a restricted form of limited liability for sole traders. At present, a sole trader’s ...
Buy to let mortgages

Buy to let mortgages

The gradual restriction of tax relief for buy-to-let mortgage interest has received much publicity since the process commenced 5 April 2017. From that date, tax relief is converted from a ...
What is side-ways loss relief

What is side-ways loss relief?

If a business owner makes a loss as a self-employed person, they can set off the losses against any other earnings of the same year. In effect, the business losses ...
Pay your VAT monthly

Pay your VAT monthly

If you find it difficult to manage quarterly payments to HMRC to settle your VAT, why not consider the VAT Annual Accounting Scheme (AAS). With the AAS you: make nine ...
Ask the government to sell property

Ask the government to sell property

UK residents can ask for publicly owned land and buildings to be sold if they think that the property is vacant or underused. You will need to track down the ...
When is Capital Gains Tax payable

When is Capital Gains Tax payable?

Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19. There are also a number of circumstances when a disposal ...
Changes to rent-a-room relief

Changes to rent-a-room relief

A new test is to be added to the qualifying criteria for rent-a-room relief from April 2019. The test will require that the individual or individuals in receipt of income ...
Points based penalties

Points based penalties

In the recently published draft clauses that will form the basis of the Budget later this year, HMRC has outlined a significant change to the way they will be levying ...
Making Tax Digital

Making Tax Digital

A reminder that from April 2019, HMRC’s much vaunted Making Tax Digital (MTD) scheme will apply to certain businesses. The April 2019 launch will only apply to VAT registered traders. ...

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