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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.

What is the Criminal Finances Act 2017?

In the past, the directors of larger organisations have been able to avoid personal responsibility for the tax evasion acts of their employees and other associates if they can plead ...
Carry back charitable donation

Carry back charitable donation

One of the few remaining options to carry back tax allowable payments to a previous tax year is the facility to set off certain charitable donations made after 5 April ...
Autumn Budget 2017

Autumn Budget 2017

Prospects for growth, especially for productivity have been downgraded, but the Chancellor was bullish in his forecasts for investment and the Government’s intention to sort out the slow pace of ...
The Budget crystal ball

The Budget crystal ball

There is continuing speculation in the financial press about the likely changes that Philip Hammond will introduce in his Budget announcements on 22 November 2017. Politically, he is being encouraged ...
Common misconceptions about tax and letting property

Common misconceptions about tax and letting property

HMRC has published a list of popular misconceptions that taxpayers have about letting property. We have listed below a summary of situations where you will need to declare rental earnings ...
What are tax-free transfers for Inheritance Tax (IHT) purposes?

What are tax-free transfers for Inheritance Tax (IHT) purposes?

There are many reliefs for IHT purposes. They include: Business Property Relief – 100% relief for business assets including an interest in a business, a controlling interest comprising unquoted shares ...
Tax legislation

Tax legislation

Readers may be forgiven for finding the recent rash of announcements by HMRC, regarding possible changes to tax legislation, rather confusing. On 8th September, we were informed that the remaining ...
VAT bad debt relief

VAT bad debt relief

If you use standard VAT accounting – pay VAT on sales when invoiced and claim back VAT on purchases when invoiced – you may have availed yourself of the six ...
Making Tax Digital

Making Tax Digital

Making Tax Digital (MTD) is the government’s latest attempt to fully digitise the process of collecting data from taxpayers so they can speed up the process of calculating how much ...
When does a hobby become a trade?

When does a hobby become a trade?

An example may illustrate the answer to this question. Harry updates his iPad and decides to sell his old one – he does not use the iPad for his employment ...
Claiming back professional subscriptions

Claiming back professional subscriptions

If your employment requires that you obtain and maintain membership of a professional organisation, you can make a claim to set the cost against your taxable earnings for income tax ...
Evidence of earning for mortgage purposes

Evidence of earning for mortgage purposes

If you are a client, and registered to submit a Self Assessment tax return, we can provide you with a statement that you can use as evidence of earnings for ...
Making a claim for uniforms, work clothing and tools

Making a claim for uniforms, work clothing and tools

It is possible to claim for the cost of repairing or replacing small tools you need to do your job as an employee (for example, scissors or an electric drill), ...
Director minimum salary levels 2017-18

Director minimum salary levels 2017-18

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce NIC, and, in some cases, Income Tax. The planning strategy is to ...
Are we making progress on Making Tax Digital?

Are we making progress on Making Tax Digital?

There is evidence that HMRC’s Making Tax Digital (MTD) implementation team are working with advisors and their clients to beta test the computer systems that will drive the quarterly upload ...
Macalvins are now using OpenSpace

Macalvins are now using OpenSpace

Due to Making Tax Digital, Macalvins has introduced a new cloud-based communications software solution, called OpenSpace. OpenSpace has been created to help firms and individuals exchange documents quickly and securely ...

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