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Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency

Are you trading?

Are you trading? Trading income is taxed for both income tax and corporation tax purposes. In order for a tax charge to arise under the ...

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Could the end of the Furlough Scheme trigger a debt crisis?

Could the end of the Furlough Scheme trigger a debt crisis? As the government furlough scheme draws to a close at the end of September 2021, thousands of workers could be facing redundancies and job losses and could therefore be plunged into debt. Those who are already car...

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Disposing of an asset on which capital allowances have been claimed

Disposing of an asset on which capital allowances have been claimed Capital allowances are the tax equivalent of depreciation, and the mechanism of providing tax relief for certain items of capital expenditure. However, with the exception of cars, capital allowances are no...

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Collection of tax debts post Covid-19

Collection of tax debts post Covid-19 As the country starts to emerge from the pandemic, HMRC have once again turned their focus to the collection of tax debts . A policy paper has been published setting out their approach. During the Covid-19 pandemic, HMRC paused much...

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I need help with debt, could an IVA be right for me?

What is an IVA? An IVA is a way of dealing with your debt, protecting your assets and avoiding bankruptcy. An Individual Voluntary Arrangement (IVA) is a private, legal contract between you and your creditors. How much you pay...

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RTI penalties and period of grace

RTI penalties and period of grace Under real time information (RTI), employers are required to report pay and deductions information to HMRC ‘at or before’ the time that the payment is made to the employee. This is done by means of the full payment submission (FPS). Pe...

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Relief for losses in the early years of a trade

Relief for losses in the early years of a trade It is not uncommon to realise a loss in the early years of a trade. However, traders who commenced their self-employment in 2019 or 2020 may also have suffered as a result of the pandemic. Although the ...

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Tax relief on loans to close companies

Tax relief on loans to close companies Family and personal companies are often ‘close’ companies. Broadly, this is one that is controlled by five or fewer shareholders or any number of shareholders all of whom are directors. In a ...

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Termination payments and Class 1A National Insurance

Termination payments and Class 1A National Insurance As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to decide whether they are able to bring the employee back to work, either full time or part time, or ...

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Claim tax relief for additional costs of working from home

Claim tax relief for additional costs of working from home During the Covid-19 pandemic, the advice was ‘work from home if you can’. As a result, millions of employees found themselves working at home, often at very short notice. Many still have not returned to the wor...

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  • Arthur Boyd & Company prepare our annual accounts and provide assistance with book-keeping and management accounts as and when we require it. They make the process simple and hassle free and explain everything in detail. We liaise with them on a regular basis and find them prompt, efficient and easy to deal with. They provide advice on all sorts of matters such as pricing/margins, business expansion, director’s duties and tax implications of potential transactions, in clear, concise terms which are easy to understand.

    Mauds Ice Creams Ltd

  • "I found the process of winding up my company very easy and quick, thanks to your help and guidance. Throughout the process, your communication was prompt and clear."

    Director of an owner managed company, wound up by way of a CVL

  • "We have been with Arthur Boyd & Company from the very beginning. The staff are always friendly, professional and helpful. They have provided us with sound business and tax advice throughout the years, and really do go the extra mile to help. We are very happy clients and will continue to use their services."

    Bell family, hauliers & farmers

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    Past IVA client

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    Fegan Transport Ltd

  • "Arthur Boyd & Company were a great source of comfort for me. I was going through a tough time with my finances and they really helped me get through it with their advice and guidance. I would recommend them to anyone."

    Past IVA client

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