All active building contractors and building subcontractors are subject to HMRC regulation. The rules they have to abide by are set out in the Construction Industry Scheme (CIS). Essentially, contractors cannot pay their subcontractors without stopping tax. Only in specific circumstances can payments be made without deduction of tax. The scheme operates a little like the PAYE system with one Continue Reading
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European Commission ventures opinion on UK economy
In March 2014 the European Commission published a report entitled Macroeconomic Imbalances United Kingdom 2014. The text includes a few observations on the UK property market that have been greeted with less than enthusiasm by the UK Government. The report includes the following introduction: “The United Kingdom continues to experience macroeconomic imbalances, which require monitoring and policy action. In particular, Continue Reading
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Small business rate relief
You can get small business rate relief if you only use one property and its rateable value is less than £12,000. Until 31 March 2015 you’ll get 100% relief (doubled from the usual rate of 50%) for properties with a rateable value of £6,000 or less. This means you won’t pay business rates on properties with a rateable value of Continue Reading
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Seminars Schedule
THE DANGERS OF GROWTH AND HOW TO NEGOTIATE THEM 16 SEPTEMBER 2014 Lough Neagh Discovery Centre 9.00am to 11.30am At long last we are seeing the first signs of recovery. We all want to see our business grow but if not properly planned, it can be even more dangerous than contraction! Growth requires increased working capital, improved infrastructure and systems. In Continue Reading
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