Our new coalition Government’s emergency budget is due on 22nd June and many of my fellow tax advisers are predicting with almost certainty that the rate of VAT will go up from 17.5% to 20% and I would have to agree.
Archive for June, 2010
Time for a new bike
As summer approaches now is a great time to cycle to work and the outgoing Chancellor left a nice little tax break in the legislation for those looking to buy a new bike in the form of the Cycle to Work Scheme.
This is all well and good but I took a closer look at the legislation to see if this could also apply to the owners of small businesses and, luckily, it does.
Working Pro Bono
As I finalise arrangements for my forthcoming finance surgeries at Cockpit Arts studios, it occurred to me that many businesses offer their time, services and/or products for free in order to generate goodwill but how do HM Revenue & Customs view the costs associated with such activity?
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