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tax and financial insights”

Business Blog

What is the tronc system?

Mercer & Hole Audit and Business Advisory Partner Andy Turner has significant experience of advising the hotel and hospitality industry. One of his regular talking points with clients is how to help them manage the fair distribution of tips, gratuities and service charges whilst considering the tax considerations and liabilities, which...


Date: 29th January, 2019
Author: Andy Turner

Budget 2018 - A mixed bag of VAT challenges

In the Budget announcement, there were an unusual number of updates for VAT, some referring to existing or ongoing initiatives, and some new. In this article, I have covered five main areas; Making Tax Digital (MTD) and groups, construction, retail matters, general adjustments as well as HMRC anti-avoidance initiatives. There were also some...


Date: 1st November, 2018
Author: Richard Collier

Budget 2018 - Entrepreneurs’ Relief

Whenever someone is looking to sell their business almost the first thing they ask (apart from what do you think it is worth?) is whether Entrepreneurs’ Relief (ER) will be available. ER reduces the rate of Capital Gains Tax (CGT) to 10% on the first £10 million of lifetime qualifying gains and so can be worth £1 million in tax...


Date: 1st November, 2018
Author: David Hadley

Budget 2018 - IR35 – privatising the public sector approach

It has long been an aim of HMRC to ensure that as many individuals as possible are within the PAYE system, literally paying tax and national insurance as they earn. The rules relating to companies have historically enabled individuals to extract funds in a very tax efficient manner leading to an anti-avoidance framework applicable to Personal...


Date: 1st November, 2018
Author: Jacqui Gudgion

Budget 2018 - Changes for businesses

Every box of chocolates has some with hard centres and some (possibly the same ones) that nobody wants. The changes for businesses announced are similarly mixed. The government has announced some exciting tax breaks on capital costs generally and a brand new relief on buildings but is continuing the clampdown on abuse of reliefs, eg on R&D and...


Date: 1st November, 2018
Author: Cathy Corns

Making the most out of your home? Rent a room relief

For years, it has been very common for people to rent out a room in their home for all sorts of reasons and take advantage of rent a room relief. The owner (landlord) of the property can currently earn up to £7,500 in gross rents per year tax free by renting a room to a lodger provided certain conditions are met. The accommodation must be...


Date: 22nd October, 2018
Author: Cathy Corns

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

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