A bit more Goodwill Tax Relief Reply

What has changed

You can now get relief on purchases made on or after 1 April 2019 if the:

  • goodwill and relevant assets are purchased when you buy a business with qualifying intellectual property (IP)
  • business is liable to Corporation Tax
  • relevant assets (including goodwill) are included in the company accounts

Find a full definition of goodwill and relevant assets on GOV.UK in the Corporate Intangibles Research and Development Manual CIRD44060.

Relief you can get

Relief is a fixed rate of 6.5% a year on the lower of the cost of the relevant asset or 6 times the cost of any qualifying IP assets in the business purchased.

Relief is given yearly until the limit is reached. More information about how to work out the relief can be found on GOV.UK in the Corporate Intangibles Research and Development Manual CIRD44093.

How to claim

You must complete a Company Tax Return and include the relief. This will reduce both:

  • your company or organisation’s taxable profit
  • the amount of Corporation Tax you have to pay

https://www.gov.uk/guidance/corporation-tax-relief-on-goodwill-and-relevant-assets

steve@bicknells.net

May be Arthur can help? Reply

Another brilliant App for Property Management is Arthur https://www.arthuronline.co.uk/features/

A complete web and mobile solution for property managers and landlords with apps for their tenants, contractors, agents and owners. A unique approach.

Arthur Online is cloud-based property management software for self-managing landlords and professional property managers. The system connects them to their tenants, contractors, estate agents, owners and accountants. It brings the “many” together; everything in one place, at one time, on one platform ensuring a seamless tenancy management process. We can’t reduce those moving parts but we can bring them together on one platform.

As Xero partners we would love to help you get started with Arthur

steve@bicknells.net

Factsheet – Construction Industry VAT – Reverse Charge Reply

 

Reverse Charge for the Construction Industry starts in October 2019, its complicated and will be confusing!

Read our 2 page fact sheet to understand how you need to account for VAT.

The new rules will affect Subcontractors and Contractors.

Click here to get the factsheet

steve@bicknells.net

Bicknell Business Advisers – Now on VoIP Reply

We like to implement the latest technology so that we can work in better ways with our clients and to make communication better we have just installed RingCentral.

Our new main office number is 01202 025252 but we also have all the other great features of RingCentral including Video calls, Conference Calls and messaging, on all our devices. Take a look at this video to find out more about RingCentral.

Would you like your address removed from Companies House? Reply

Some directors have been targeted by criminals such as those trying to steal your identity.

If you used your home address as your service address (or ‘correspondence’ address), you can ask Companies House to:

1. remove it from the register
2. withhold it from credit reference agencies – you can only do this in certain circumstances

You’ll need to apply and pay for each of these separately.

You cannot ask to remove your company’s registered office address, even if it’s your home address.

You can ask Companies House to remove your home address from publicly available documents, such as a form to appoint a director.

You’ll need to know which documents contain your home address. Check this by finding your company on the Companies House register.

Download an application form. It costs £55 to remove your address from each document.

Payment details are on the form.

Send your application form and fee to the Registrar of Companies.

The Registrar of Companies
PO Box 4082
Cardiff
CF14 3WE

Ask to have your address withheld from credit reference agencies

You can only do this if you’re at risk of violence or intimidation because of your company’s work. You need to provide proof such as:
# a police incident number if you’ve been attacked
# documentary evidence of a threat or attack, such as photos or recordings
# evidence of possible disruption or targeting, such as by animal rights or other activists
# evidence that you work for an organisation whose activities put you at risk, such as the Secret Intelligence Service

Request an application form by emailing dsr@companieshouse.gov.uk. It costs £100 to apply.

https://www.gov.uk/stop-companies-house-from-publishing-your-address

We are Xero App trained Reply

 

One of the best things about Xero is the ability to use apps and there are over 700 to choose from.

I have just completed the Xero courses for

  • Trade and Constructions Specialist
  • Professional Services Specialist
  • Retail and eCommerce Specialist

These courses explore how and when to use apps and compare features between the some of the most used Apps.

Great courses, very useful

If you need advice on Apps please let us know

steve@bicknells.net