News

Rural Development Programme – Armagh, Banbridge & Craigavon

Please see attached details in relation to the Rural Development Programme which has opened in Armagh, Banbridge and Craigavon regions. We thought the Rural Business Investment Support may be of interest to you or your contacts whereby Businesses can get up to £90k capital grant assistance. We have attached in the link below further information for your reference. Rural Development Programme Dates of Madatory Workshops If any business is interested ...

When The Taxman Comes Calling

Question: I operate a large convenience store and last week I experienced an unannounced visit by three taxmen, waving a legal notice and insisting they inspect my business premises, business assets and business documents. What are my rights?  Answer: From 1 April 2009 officers of HM Revenue and Customs (HMRC) have significant powers to obtain information from taxpayers and to carry out inspections of business premises. The ...

Giving shares to employees

Question. I am currently considering giving some key employees the option to become shareholders in my company. However, I am unsure of the tax implications around this, can you please explain what options are available? Answer. Retaining and motivating staff are key issues for many employers. Research has shown a clear link between employee share ownership and increases in productivity. An effective way of giving shares to employees ...

Employer Support Programme

Please see attached details in relation to the Employer Support Programme which we thought may be of interest to you. Innovate Us and Skills Focus are skills development programmes which are funded by the DEL and delivered across Northern Ireland by Southern Regional College (SRC) along with other FE Colleges. The focus of Innovate Us is to enable small businesses to acquire the skills necessary to engage ...

The average farmer and his tax bill

Question. I am a farmer and my profits/losses fluctuate wildly from one year to the next caused by global prices and extreme weather conditions. I have heard of changes being introduced to farmers averaging and I would like to understand what this means for my tax bill. Can you explain?  Answer. Finance Bill 2016 is set to introduce an option for farmers to average their trading profits over ...

Are you ready for employment changes from 6th April 2016?

1. “Dispensations – the end of an era” Finance Act 2015 brings in ITEPA 2003 ss 289A–E, effective from 6th April 2016. From this date you will no longer have to pay tax and National Insurance Contributions (NICs) on qualifying paid or reimbursed expenses payments.   This means that where an employee is entitled to claim a fully matching tax deduction e.g. receipts for accommodation, subsistence etc., ...

UK Budget 2016

Please see below link to the PKF-FPM UK Budget Summary 2016. UK Budget Summary 2016

PKF-FPM Post Budget Breakfast 2016

To book your FREE place email Lauren Quinn – l.quinn@pkffpm.com or call 02830261010

Ways to save tax before 5th April year end

Question. The tax year is nearly over. What can I do to structure my business and personal finances so that they are as tax efficient as possible?  Answer. The end of the tax year on 5th April is fast approaching, and this is always a good time of year to think about ways to structure your business and personal finances so that they are as tax-efficient as ...

Seed Enterprise Investment Scheme – finance for business

Question. I have been a successful entrepreneur and I am keen to invest in new young businesses that need finance to grow but are struggling to secure this money from banks. I have heard about the Seed Enterprise Investment Scheme and I would like to understand the rules in more detail. Can you explain the key features of this scheme? Answer. The Seed Enterprise Investment Scheme (SEIS) provides ...