News

How to get tax relief on research and development

Question. My business is incurred costs this year relating to research and development activities of the business.  Can I claim any enhanced tax relief on these costs?   Answer. Research and development (R&D) by UK companies is being actively encouraged by the Government through a range of tax incentives.  The incentives are only available to companies and include an increased deduction for R&D revenue spending and a ...

Here comes the Bride…….. and a tax break!!

Question. HMRC recently announced a new tax break for married couples which can be claimed from April 2015. How much is this tax allowance and how can I claim it? Answer. It is believed that more than 4 million married couples and 15 thousand civil partnerships stand to benefit from the recently announced Marriage Allowance, according to official government estimates. In a bid to reward commitment and stay-at-home spouses, ...

FRS 102 – what are the implications… is your business ready?

What is FRS 102?                                                                             For accounting periods commencing on or after 1 January 2015, FRS 102 will replace current UK accounting standards for all companies, except those who apply International Financial Reporting Standards (IFRS) or the Financial Reporting Standards for Smaller Entities (FRSSE). What are the main changes? FRS 102 brings changes to both the figures within financial statements along with the format of and the disclosures required.  ...

Is your charity ready for SORP 2015 + FRS102 / FRSSE Changes ?

Charity Accounting – changes are coming… are you ready? What’s new? It was recently announced that two new Charity Statements of Recommended Practice have been introduced for accounting periods commencing on or after 1 January 2015.  They are called the Charity SORP 2015 (FRS 102) and the Charity SORP 2015 (FRSSE). Why two SORPs? For accounting periods commencing on or after 1 January 2015, FRS 102 will replace current ...

PKF-FPM RoI Quarterly Newsletter

Please click on the link below to view PKF-FPM’s RoI Quarterly Newsletter Issue 1 for 2015: PKF-FPM RoI Newsletter Issue 1 2015.

Calling Strabane Businesses…You Are Invited To A Business & Finance Seminar

  Businesses in the Strabane District are invited to attend a Business and Finance Seminar at the following venues:   Fir Trees Hotel – Thursday 26th February 2.00pm – 4.00 pm Killeter Heritage Centre – Thursday 26th February 7.00pm-9.00 pm Newtownstewart Leisure Complex – Thursday 5th March 2.00pm – 4.00 pm Aughabrack Community Hall – Thursday 5th March 7.00pm – 9.00 pm   FREE BUSINESS HEALTH CHECKS for BUSINESSES at the SEMINAR The ...

Still using SAGE 50 or Instant payroll on Windows XP? Time is running out!

If you’re still using SAGE 50 or Instant payroll on Windows XP, time is running out. The new update won’t install on Windows XP, meaning from 6 April 15 you won’t be able to process your payroll and your operating system will require to be upgraded before updating payroll. In April 14, Microsoft ended all support for Windows XP We’re all familiar with the Windows security updates, and ...

Employment Allowance

Employer’s – make sure you have claimed your Employment Allowance before payroll year end – up to £2,000 off your National Insurance bill You can claim Employment Allowance if you’re a business or charity (including community amateur sports clubs) paying employers’ Class 1 National Insurance. You can only claim Employment Allowance for one PAYE scheme. To claim through your payroll software, put ‘Yes’ in the ‘Employment Allowance ...

New Business Startup

Question. I was employed until 31 December 2014, however, I have now set up a new business. I started trading from the 1 February 2015 as a sole-trader and I am not sure what records I need to keep, what taxes I need to register for and when I  need to fill in an income tax return.  Can you advise? Answer. It is extremely important that you keep ...

Free Information Seminar For The Farming Sector

Conference Room, Greenmount College 22 Greenmount Road, Antrim, BT41 4PX 17th February 2015 from 10.30am   Event Overview 10.30am – Arrival Registration & Refreshments 11am – 12.30pm Presentations by: Lowry Grant – Director of PKF FPM Accountants (Succession Planning for your future) Jason McMinn – Farmgate Consultancy (Challenges in the Dairy sector) Steven Millar – DARD NI (TBA) Amanda Fulton-Russell – Barclays International (How Barclays can help you with your foreign transaction requirements) Ian McCluggage – DARD ...