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

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05 March 2018

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

General

Leeds Teaching Hospitals NHS Trust has started work on a new children’s cardiac hybrid theatre and intra-operative MRI facility. This new development will create a dedicated environment at Leeds Children’s Hospital for paediatric cardiac surgery and paediatric neurosurgery Sharon Coyle, Chief Executive of our client Children’s Heart Surgery Fund, said: “We’re delighted work has started on the revolutionary heart theatre, which our passionate supporters have helped fund through the Keeping The Beat appeal.”

Leeds City Region is quickly establishing itself as one of the UK’s fastest growing cities and a key destination for entrepreneurs, due to the excellent opportunities to gain financial support, expert advice, access to working space and other like-minded individuals.

Xero

We are very excited and proud to be an accredited Platinum Partner status with Xero Accounting Software, making us one of the few Xero accountants in Leeds with Platinum status!

Tax

Former BBC Look North presenter Christa Ackroyd lost the first IR35 case for 7 years recently, news which will be a concern for contractors who have declared themselves outside this complex tax legislation.

Many believe that the case may be the tip of the iceberg. HMRC obviously wanted to make a public example of the former presenter, who could be the first of many contractors finding their IR35 status scrutinised.

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

VAT

It is not uncommon for businesses to make incorrect VAT payments - but how do you go about claiming back overpayments of VAT? Read the guide below to understand how VAT overpayments occur, how to claim VAT from HMRC and when interest can be claimed.

Read more : How to handle overpayment of VAT

Pensions

Our latest blog on pension and retirement options covers annuities, the pros and cons of this option and how it may impact on you.

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 Here are more recent blogs.

We also support a wide range of businesses with online Payroll outsourcing. Our managed payroll services 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!