Click here: http://www.youtube.com/watch?v=NttdQCbjK-g
to watch our Personal Tax Manager - Robyn Milstead in action!
Tuesday, 2 July 2013
Tuesday, 18 June 2013
New docSAFE client interface
New docSAFE client interface has arrived!
Great news, the new client interface
for docSAFE has hit the Ward Williams website and first impressions are
that it is a much more user friendly interface which also looks the
part.
 |
| New docSAFE interface |
Login process remains unchanged so go and have a look and let us know what you think.
For any readers who haven't heard
of docSAFE, it is the free communications portal provided to all of our
clients which provides a secure environment in which information can be
exchanged. Further information can be found in prior blogs: docSAFE update & docSAFE making our communications safer.
Also this neat video demonstrates what docSAFE is all about:
Monday, 17 June 2013
New mileage rates for company cars
HMRC has updated its advisory
fuel rates (AFRs) for company cars. The new rates apply from 1 June, but
employers can continue to use the old rates until 30 June. AFRs may be used to
avoid potential tax charges that can arise where:
A director/employee puts fuel
into a company car or van for private journeys e.g for travelling between home
and work, and your business pays for this fuel.
An employee pays for the fuel
used in their company car or van, and you pay them an allowance to cover
business travel.
In both cases, where the
reimbursement rate is made at the AFR, HMRC accepts no fuel scale tax charge
arises on the director or employee.
See table below for new rates:
|
Engine
Size
|
Petrol
|
Liquid
Petroleum Gas
|
Diesel
|
|
1400cc
or less
|
15p
|
10p
|
-
|
|
1600cc or
less
|
-
|
-
|
12p
|
|
1401cc to
2000cc
|
17p
|
12p
|
-
|
|
1601cc to
2000cc
|
-
|
-
|
14p
|
|
Over
2000cc
|
25p
|
18p
|
18p
|
For further information please contact us:
enquiries@wardwilliams.co.uk
01932 830664
www.wardwilliams.co.uk
Thursday, 30 May 2013
Leaving the UK - planning for Tax
If you
are leaving the UK, perhaps to work abroad or to escape for a new life in the
sun, there are some important tax matters to plan for.
The
timing of your departure from the UK and arrival in the destination country can
have a significant effect on your tax position in each country, and can provide
planning possibilities regarding the timing of asset disposals and income
receipts.
New tax
residence rules from 6 April this year are designed to correct the
lack of clarity under the previous rules. The new rules use several
automatic tests to determine your residence status, which should make it
easier to plan your number of visits to the UK to avoid remaining
UK-resident. For example, you will be regarded as automatically
non-resident if you are present in the UK for not more than a
maximum number of days in the tax year; the maximum depending on whether
you have been resident in any of the three tax years before you left, and on
whether you have gone to work full-time abroad.
The
rules also prescribe situations where you are automatically UK-resident in a
tax year. In other cases your residence status is determined according to
the number of ties you keep with the UK such as family, accommodation,
work and whether you were UK-resident in either of the two previous tax
years.
Matters
such as dual residence may also need to be considered if you become resident in
the destination country while also remaining UK-resident. In this case the matter can usually be decided
for double tax treaty purposes under special rules in the treaty between the
two countries, assuming there is one.
Inheritance
tax should not be overlooked, since if you are UK-domiciled you remain subject
to UK IHT regardless of where you are resident, whereas other countries may
charge IHT according to residence.
Proper
advice should therefore be obtained both in the UK and the destination country.
01932 830664
Wednesday, 29 May 2013
docSAFE update
Ward
Williams provide a free communications portal to all of our clients. This
secure area is called docSAFE and provides a secure online place where
you can upload and even access any business documents from anywhere in the
world via our website. It is invaluable for sharing sensitive information and
working on business documents remotely or in conjunction with us. You can use
this as the very best way to exchange files with us.
The Key
Benefits:
- Secure, encrypted personal storage area with your own individual login and password 24/7 client access
- Retrieve all documents – including large files that are too big to email
- Download large files such as SAGE backups
- Your own personal folder within your ‘login’ area where you can store sensitive information such as financial documents, lease documents etc
- It is tried and tested - used by hundreds of accountancy firms across the UK
- Smart Phone app available
All we ask is that you keep us advised of your current email address.
Many of our clients are now using
this service. If you wish to be included
for such a service please contact us and register your interest.
Tuesday, 28 May 2013
New funding for SMEs in Berkshire to support plans for growth
SMEs in Berkshire with high
growth aspirations now have another source of funds to consider to help them
deliver their plans. The Thames Valley Berkshire Funding Escalator has been
established by Thames Valley Berkshire Local Enterprise Partnership with £7.25m
available across three complementary Loan Schemes. The Funding Escalator is
managed by The FSE Group.
The Funding Escalator aims to
help businesses whose growth plans are being hampered by lack of funding. This
might be because they have insufficient track record, require additional funds
to complement existing loans, or need support beyond typical bank parameters.
Launched at the beginning of
February, loans have already been approved for two businesses:
- A company that creates and publishes music for corporate and media clients, looking to expand its services in the UK and abroad, requiring additional staff to deliver its plans.
- A well established business that provides sophisticated video conferencing services, needing funding to secure IP and enhance its offering, to support rapid sales growth.
The Funding Escalator has three
elements:
- The TVB Commercialisation Loan Scheme, providing loans of £25k to £50k to early stage businesses that have generated some sales and require funds to invest in market development activities to establish market presence.
- The TVB Expansion Loan Scheme, providing loans between £50k to £200k to established companies that have been trading for at least 12 months and generated sales of £250k+ pa. Finance will be required to invest in expansion and scaling up activities that will deliver substantial growth.
- The TVB Growth Loan Scheme, providing loans of £50k to £150k, alongside matched equity investment, to high growth businesses with strong IP.
In each case businesses will need
to demonstrate compelling commercial potential based on sustainable competitive
advantage which will create job opportunities in the Berkshire region.
After completing a short
pre-application, businesses that the Funding Escalator may be able to help will
be invited to submit a full application and business plan. Ward Williams will
be happy to discuss assisting companies to ensure their business plan provides
the best chance of success.
The Pre-application form is
available at http://www.thefsegroup.com/thames-valley-berkshire-funding-escalator
together with details of the Loan Schemes.
The FSE Group provides growth
finance to ambitious businesses. The organisation has a strong track record of
achieving significant results through relatively small investments and
currently has £30m of assets under management. An economic impact study found
the companies that FSE invested in grew almost five times faster than the
national average.
For more information, visit www.thefsegroup.com
or email tvbfunding@thefsegroup.com
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