Accounting Roundup : Business news, updates and advice - June 2018

Talk to our team

12 June 2018

Welcome to June’s Accounting Roundup where we explore the latest real world and local news, tax updates, financial and business advice and accounting matters.

General

More positive news amid the media gloom and doom! According to a Goldman Sachs index of economic indicators the UK economy is surging ahead, after a slow start to 2018.

Mark Gregory designed the Welcome to Yorkshire garden at this year's RHS Chelsea Flower Show and won three awards! - a Gold Medal in the Show Gardens category, Best Construction and the Show Gardens People's Choice Award.

Leeds has been shortlisted to host one of three new Channel 4 bases. The broadcaster announced that Leeds is being considered as a possible home for its national headquarters or as a 'creative hub', along with Sheffield, Greater Manchester, Liverpool, West Midlands, Glasgow, Cardiff and and Bristol

Read more : Leeds could become new Channel 4 HQ

Tax

More than four million calls to the taxman were left unanswered over the past year, prompting accusations HMRC is failing the self-employed.

Recent figures show more than one in ten callers fail to reach an operator, compared with just over one in 20 a year ago.

HMRC has admitted the problem is nearly twice as bad as previously disclosed.

HMRC will be tracking down all Royal Wedding entrepreneurs to pay up their taxes! Thousands of British business owners thrived from Royal Wedding festivities, which saw tourists flock to Windsor, splashing out on luxury hotel stays, food and wedding memorabilia. HMRC said they will be scouring accounts on eBay, Airbnb and rental advertisements in local papers to pinpoint changes in income. Be warned!

If you or any of your contacts require any tax advice simply contact us on 0113 398 1100 or email leeds@hwca.com

Pensions

Read our series of blogs on pension and retirement options, the pros and cons of these different options and how they may impact on you. It may be time to review your pension, finances and investments - here's why

We recommend our clients to Tilney, one of the UK’s leading private client investment and wealth management company who provide top quality, solid and practical pensions advice You can sign up to their newsletter and financial planning magazine.

For pension and retirement advice, or to book a no obligation review, please contact Charles Coade direct on 0113 224 5544 or email charles.coade@tilney.co.uk or via our Leeds office on 0113 398 1100 or email leeds@hwca.com

We support a wide range of businesses with online Payroll outsourcing - here's an interesting US article on the Top 5 reasons you should outsource your payroll. Our managed payroll services also make all necessary submissions to the tax authorities on your behalf.

If you feel you have comments, questions or thoughts on our Accounting Roundup please let us know – honest feedback is always welcome!