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Business Blog

Take 5 with Daniel McCloskey

Your outsourcing questions answered Daniel McCloskey, Senior Audit and Accounts Manager, provides the answers to some of the frequently asked questions about outsourcing and how the team helps to support our clients. 1. How does the Mercer & Hole team support clients? A. Our team helps clients by providing them with a wide range of...


Date: 19th July, 2018
Author: Daniel McCloskey

Outsourced accounting services: How to choose the right company

The value of outsourcing can be measured in both time and cost saving efficiencies.. Real-time financial reporting is available at the touch of a finger-tip, enabling better and quicker commercial decision making. To get started though you will need to choose a progressive accountancy firm which is a good fit for your business – this is a...


Date: 19th July, 2018
Author: Ross Lane

Update on Making Tax Digital

By now, you are probably well aware of HM Revenue & Customs’ (HMRC’s) plans to modernise our tax system through the initiative of Making Tax Digital (MTD). In short, MTD drives mandatory digital record keeping and digital reporting for businesses. Since its introduction the timescales for the roll-out of MTD have fluctuated....


Date: 19th July, 2018
Author: David Hadley

Business News Outsourcing Special July 2018

Welcome to this latest edition of Business News, Outsourcing Special. This special edition looks at our new service line, Outsourcing Services. Business owners can be empowered by outsourcing, their financial functions and use their time to saved to grow their business. We are proud to be headline sponsors of the St Albans Business Festival and...


Date: 19th July, 2018
Author: Ross Lane

Airbnb - VAT

The challenges of VAT are ever present. A relatively simple idea such as renting out a property on a temporary basis to visitors would seem quite innocuous, but if the Rental turnover becomes significant it could lead to VAT registration and associated considerations. The income from property that qualifies as UK holiday accommodation will be...


Date: 3rd May, 2018
Author: Richard Collier

Tax changes for non-resident corporate landlords

The UK tax landscape has changed dramatically for companies owning and letting property in the UK. Historically, any rental income received, net of costs, was charged to income tax but capital gains were excluded from the charge.  The position on residential property changed in 2015. Any gains on such properties are now chargeable to UK tax....


Date: 3rd May, 2018
Author: Cathy Corns

EMI options - a current risk

EMI options are the favoured route for most SME’s to provide share incentives to staff.  However, EU State Aid approval for the EMI scheme expires on 6 April 2018. The government has been following the process of applying to the EC for fresh approval but the final response has not yet been received and is not now expected before 6 April...


Date: 4th April, 2018
Author: Cathy Corns

And finally a small gift; trivial benefits

There is not much in life that is free and even if you do not pay for it, you can be fairly certain that one way or another you will be taxed on it. However, there is no tax in relation to payments by an employer to benefit an employee if the benefit cost £50 or less and it is not: Cash or a cash voucher (although gift vouchers for a...


Date: 20th March, 2018
Author: Jacqui Gudgion

International employees – Short Term Business Visitors

Where a UK company is part of an international group, it may be common for group employees to visit the UK to work for the UK company. Where these visits form part of a secondment arrangement, resulting in the employee becoming UK tax resident, the UK company’s obligations are likely to be clear; UK income tax and NICs (if applicable) will...


Date: 20th March, 2018
Author: David Hadley

Beneficial loans

Where an employer provides loans to employees (or their relatives) this will generally need reporting on a  Form P11d.  The taxable benefit is usually equal to the notional interest on the loan at the official rate (currently 2.5% per annum) less any interest actually paid by the employee. However, if the loan is made, after 6 April 2017,...


Date: 20th March, 2018
Author: Cathy Corns

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