Monthly Archives: January 2020

When assets can become a tax liability

There are certain assets that may be carried on your balance sheet at values higher than their market value or past their sell by date. If so, and if these amounts are written-off against your profits, you will pay less tax. Three possibilities are sketched out below: Stock Businesses that accumulate stocks of goods do…
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The Big Apprenticeship Event!

Are you interested in working for us? Are you interested in gaining a professional accountancy qualification and working at the same time? Join us at the Southern Regional College Apprenticeship Event in Craigavon Civic Centre to find out why this could be the perfect opportunity for you. The event runs starts at 5.30pm in Craigavon…
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Last week in the EU

At the end of this week, 31 January, the UK is leaving the EU. In actuality, we are entering the “transition” period during which we will need to negotiate our ongoing terms of trade with the EU. This transition period is due to end 31 December 2020. In the meantime, back at the coal-face, what…
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VAT – how this can affect your cash-flow

Paying VAT should never reduce your business profits as you are acting as an unpaid tax collector for HMRC: the VAT added to your sales (less any VAT paid on your purchases) is simply collected from your customers (less amounts paid to suppliers) and the difference paid to HMRC. But if my customers are registered…
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