Vale & West Chartered Accountants Blog

Category Archives:Lee Gardner

Government urged to scrap VAT changes on renewables

Trade associations representing the smart power industry have written a joint letter to the Government and have called for proposals to raise VAT on certain energy-saving materials to be scrapped. Read More

Audit of insolvent company uncovers £40,000 in concealed assets

A travel operator has been shut down after attempting to hide £40,000 in company assets. Read More

Proposal to increase VAT on energy-saving materials

The Renewable Energy Association (REA) has urged the Government not to increase the VAT rates attached to some energy-saving materials, including solar and battery storage. Read More

Import VAT deducted as input tax by non-owners

The Government has recently released an updated brief on the correct treatment for the deduction of import VAT paid by a ‘taxable person who is not the owner of the relevant goods’. Read More

Start-ups waiting for funding to be processed

A new report suggests that eligible start-up businesses have been waiting on average more three times longer than they should be to access funding from a Government programme. Read More

A matter of days before MTD

There are now only a few days before Making Tax Digital (MTD) is introduced for more than a million businesses in the UK on 1 April. The new regulations mean that most businesses above the £85,000 threshold will need to keep their records digitally and submit their VAT return using MTD-compatible software. Read More

Small firms not ready for MTD

According to recent research by the Federation of Small Businesses (FSB), almost half of the UK’s smaller firms do not have the right software in place to deal with the new regulations surrounding Making Tax Digital (MTD). Read More

FRC calls for tougher rules surrounding ‘going concerns’

The Financial Reporting Council (FRC) has called for stricter standards when assessing whether an entity is defined as a ‘going concern’. Read More

Directors ordered to pay back thousands after “abusing” company’s accounts

A pair of company directors have been ordered to pay back some £182,000 after “abusing the company’s bank account”. Read More

Patisserie Holdings reveal “extensive” accounting irregularities

An audit of Patisserie Holdings’ accounts have revealed “extensive” accounting irregularities, a report has revealed. Read More

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