March 2019 Newsletter

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March 2019 Newsletter

Welcome to the Philip Burley & Co March 2019 Newsletter, bringing you the latest news and information.  

As you may be aware HMRC has announced new bookkeeping requirements for VAT registered businesses. This means manual record keeping is no longer accepted and under these new ‘Making Tax Digital’ rules, qualifying businesses must file VAT return using MTD enabled software. We have teamed up with QuickBooks and are holding an event on 10 April 2019 for clients to come along to ask questions and trial the software. Please click HERE to register your interest.


New NIC treatment of termination payments
The National Insurance Contributions Bill was introduced into Parliament on 25 April 2019. The Bill contains provisions designed to align the income tax and national insurance contributions (NICs) treatment of termination awards and sporting testimonials, Read More...
Making use of gift exemptions for IHT
According to a recent survey undertaken on behalf of HMRC, only 25% of people making financial gifts have a working knowledge of inheritance tax (IHT) rules surrounding such payments. Read More...
MTD for VAT: guidance updated
HMRC have published an updated version of their guidance for businesses on Making Tax Digital for VAT. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. Petty cash is traditionally a small am Read More...
Moving into partnership
A partnership may be a simple trading vehicle enabling two or more people to own and run a business, but there are few practicalities worth considering before making the move. Whilst there are no legal formalities involved in establishing a partnership, Read More...
June questions and answers
If I take my staff away overnight for an off-site daytime business meeting and evening social function, will the costs be tax deductible for corporation tax purposes? Read More...
June Key tax dates
19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/6/2019. Read More...
About Us

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year. If you need further assistance just let us know or send us a question from our Question and Answer Section. Philip Burley & Co Accountants are based in Whitby, North Yorkshire, offering local business owners and individuals a wide range of services.  


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Philip Burley & Co is a trading name of Philip Burley (Whitby) Ltd