Blog archive

Auditing the Internal auditors!

We are often asked whether as internal auditors we get audited ourselves. Well last week we were!

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Business tax considerations in complying with the London Low Emission Zone

At the start of this year, Transport for London (“TfL”) tightened the conditions for vehicles entering the London Low Emission Zone (“LEZ”) and a number of businesses have therefore had to incur costs in order to comply with the new standards. As companies and businesses in East Anglia which frequently operate in the London area prepare accounts covering this period, their respective tax advisers are being faced with the issue of how to treat some of these costs for tax purposes.

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Capital Allowances Update - What has changed recently?

A significant change was made to Capital Allowances in April 2012 when the Annual Investment Allowance (“AIA”) was reduced from £100,000 to £25,000. The AIA is an excellent incentive to incur capital expenditure on qualifying plant and machinery assets or integral features as effectively 100% tax relief is given.

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Group Companies and the impact of recent changes to audit exemption

Following on from my initial Blog in May regarding the proposed changes to the level of audit exemption available in the UK, Government responses have now been published and I therefore set out the impact of these changes below. These changes came into force for accounting periods ending on or after 1 October 2012.

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Construction Industry Scheme (CIS)

H M Revenue and Customs (HMRC) have always paid very close attention to anyone who works within the construction Industry; as they want to ensure that they are all paying the correct amount of tax.

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