Managing your receipts quickly and easily
Managing your receipts quickly and easily is something that can be done using the Receipt Bank app to take photos of receipts so that they can be held safely online. Watermill Accounting is working with the Receipt Bank to offer this free service to all clients who...
What you need to know about your personal tax return
Filling in your personal tax return form can feel a little daunting, so what do you need to know about your personal tax return? Firstly all company directors of UK companies need to fill in a personal tax return, the deadline of which is 31st January 2018 if you do...
Could State Aid impact your R&D tax credits?
State aid When taxpayer-funded resources are used to provide assistance to one or more organisations in a way that gives an advantage to them over their competitors. Some state aid is illegal under EU rules because it distorts competition in a way that is harmful to...
Get Paid for Being Innovative
Most companies do not know that they could claim tax relief of up to a third of their R&D spend Less than 2% of eligible companies claim R&D tax reliefs. This is unfortunate as they could be getting a cash injection amounting to thousands of pounds. See...
British Accountancy Awards
The British Accountancy Awards are regarded as the industry’s most prestigious accolades. They pinpoint professional development and highlight those that have demonstrated excellence in their profession during the last 12 months. With our hard work and support from...
Mortgage Interest Tax Relief
Mortgage Interest Tax Relief This had ceased for homeowners over 15 years ago, but landlords continued to receive it allowing them to deduct costs incurred when calculating the tax paid on rental income - of which a large portion was mortgage interest payments. The...
Brexit and UK Trade
Will Brexit affect trade with the United Kingdom? The UK’s global and European role following the Brexit referendum has been subject to much debate with, public reaction polarised between anxiety and optimism. For businesses however the UK continues to be a great...
Pension Auto-Enrolment
The United Kingdom faces the economic challenge of an ageing society and increasing pensioners to support its working population. There were three people of working age for every pensioner in 2010, but by 2050 this projected to be just two and it is also calculated...
Share Dividend Tax
The Finance Bill 2016 implemented the new rules for taxing share dividend income announced by Chancellor George Osbourne in his 2015 Budget, which came into effect from 6th April 2016. Whilst the dividends received by Pensions and I.S.A's were unaffected, the 10%...
HMRC Reference Numbers
HMRC Reference Numbers Every company is allocated a series of ‘Reference Numbers’ by Her Majesty’s Revenue Customs (HMRC) to reflect and process the variety of taxes they are required to pay: Corporation Tax Reference Number Businesses registered and incorporated...