News Room

News Room

News Room

LOAN TO SHAREHOLDERS (NON-EMPLOYEE)

I have a client who owns 25% of the ordinary voting shares of a close company, but she is not a director or employee nor is she connected to a director or employee of the company. The company has lent her father £25,000 interest-free. As neither her father nor the client is an employee or […]

read more

INTERACTION OF PPR AND S260 HOLDOVER RELIEF

The trustees of a discretionary trust have transferred a residential rental property to a beneficiary and held over the arising gain under s260 TCGA1992. There was no holdover claim made when the property was transferred into the trust ten years ago. The beneficiary plans to live in the property for a few years and is […]

read more

SDLT ADDITIONAL RATE

My client owns several residential properties in her sole name.  Her spouse wishes to buy a buy-to-let property in their own name.  Will Stamp Duty Land Tax higher rates for additional dwellings apply?    To read the full article – CLICK HERE

read more

ATED & CORPORATION TAX

We have a company which has to pay the Annual Tax on Enveloped Dwellings (ATED) charge as the property is let to the shareholder’s son. Is this an allowable expense for the company?    To read the full article – CLICK HERE

read more

WORKPLACE MEALS

My client owns a pub/restaurant and provides his staff with a meal halfway through their shift, is this a taxable benefit?   To read the full article – CLICK HERE

read more

EU CHANGES 1 JULY 2021

Many of my clients are asking me about “the changes in the EU” from 1st July 2021.  What are they talking about?   To read the full article along with the latest updates – CLICK HERE

read more

Margin Scheme and Sale of Converted Campervans

My client has started a new business buying second hand commercial vans and converting them into campervans before selling. They also buy existing campervans and repair/refurbish these. My client understands they can use the VAT Margin Scheme for these sales – is this correct?    To read the full article – CLICK HERE

read more

Employee Ownership Trusts

My client is a director and majority shareholder of a successful trading company (“the Company”), and as he is approaching retirement, we are discussing succession issues. The client has had many offers for his business, but he prefers not to sell to a competitor. He wants to realise a capital gain in recognition of his […]

read more

IMPORT ONE STOP SHOP (IOSS) & ONE STOP SHOP (OSS)

My client supplies digital services to consumers in the EU and runs an e-commerce business selling CDs and MP3 players on their website that are sold in consignments of less than £135/150€. My client was registered for MOSS in the UK and from the 01 January 2021 they registered in the EU for Non-Union MOSS. […]

read more

PENSIONS AND TAPERING

I have a client that has taxable income for the tax year ended 5th April 2021 of £230,000 of which rental income is around £23,000 and attracts relief for the mortgage interest payments. Their employer has made £15,000 contribution and they have also made personal contribution of £15,000. Would they get caught by the tapering […]

read more

ONLINE PLATFORMS AND DIGITAL SERVICES

An increasing number of my clients are young people basing their careers on social media platforms, with income as influencers and YouTube contributors and I am familiar with the VAT place of supply issues this raises. I have now been approached by a potential new client who is a “content creator” using the platform OnlyFans. […]

read more

PPR AND ABSENCES

My client is in the process of selling their main residence and has asked me if there would be any capital gains tax to pay on disposal. The property, located in Manchester, was acquired in March 2010 and my client lived there until March 2016 – they had taken a job in London and decided […]

read more

Surveillance

In light of recent headlines surrounding the use of webcams to monitor employees, a client would like to know more about the legalities of this as well as other surveillance methods.   To read the full article – CLICK HERE

read more

Kittel

My client is a restaurant which had a major refurbishment of their premises.  They employed a builder to carry out the work.  The job was completed and invoiced with VAT.  The restaurant then claimed the input tax on its next available VAT return and submitted to HMRC.  Given the size of the repayment due to […]

read more

Electric Car Charging

Our practice is getting an increasing number of queries from clients who have bought electric cars which will be used for both business and private purposes. Please could you clarify how to treat input tax recovery on the charging costs for my clients?    To read more, click HERE

read more

Company Rental Losses

My client is a trading company and due to trading difficulties in the current year, they have made a loss in their trade, which they will carry back to the profitable previous year. They also have a rental property in the company that also made a loss, can they carry that loss back against the […]

read more

Supply of Admission Tickets

My client is an online retailer of cinema and theatre e-tickets. Since the announcements across the UK for relaxing COVID related restrictions there has been a surge in sales. The e-ticket is for admission only and can be used in certain cinemas and theatre chains nationwide, irrespective of the regional price differences for admissions. The […]

read more

Potentially Exempt Transfers

I want to set up a discretionary trust for my grandchild with £100,000 cash but I have already gifted them £325,000 in cash directly so will I now have to pay inheritance tax if I set up this trust?   To read the full article – CLICK HERE

read more

ATED & New Dwellings

My client has a limited company that has acquired some land to develop. They are going to develop some high value residential properties that are going to be let out on a commercial basis to third parties. One of the properties is going to be the main residence of the sole director/shareholder of the company […]

read more

Post-Brexit Import VAT Procedures

  Post-Brexit Import VAT Procedures. There are now three possibilities for businesses importing goods from both the EU and third countries, that is, anywhere in the world: The original procedure which is still in use, requires the importing business to pay the import VAT on clearance of the goods into free circulation and then claim […]

read more

Recovery Loan Scheme

Recovery Loan Scheme. The final stage of the Government’s loan packages will open on 6th April 2021, this scheme is expected to run until 31st December 2021. Businesses who have received prior COVID funding will be eligible to apply for a Recovery Loan Scheme, in so far as the business meets the qualifying conditions.   […]

read more

PPR and Permitted Area

Our clients are downsizing and are disposing of their main residence. The property has 2 acres of garden. Would the whole area qualify for Private Residence Relief?   Want to find out more? Click here  

read more

SDLT Changes From April 2021

My clients are a non-resident married couple who have a portfolio of UK residential properties in both sole and joint ownership. As part of an Inheritance Tax planning exercise, the husband is considering the transfer of some of his properties to his wife and this will include a transfer of debt which we understand is treated […]

read more

TQOTW – Triangulation Transaction Post Brexit

My client is a wholesale supplier of furniture; he buys from VAT registered manufacturers in the EU. Some of the goods are delivered to him in the UK, but some of the goods are sent direct by the manufacturer to my client’s business customers in the EU.  He is fine with the supplies delivered directly […]

read more

February 2021 Newsletter

Our latest Newsletter is designed to help you navigate the challenges of 2021. We continue to advise on the emergency support available via HMRC, focussing on repaying VAT deferred in 2020, and compliance with the Self-employment Income Support Scheme. Front page news: Just one click? Get to grips with what your Business Tax Account can […]

read more

TQOTW: DISCRETIONARY TRUSTS AND 10 YEAR CHARGES

Tax Question of The Week: Discretionary Trusts & 10 year charges | 16th December 2020 My client is a husband and wife who have settled a jointly held rental property worth £400,000 into a discretionary trust for their grandchildren. If the property value stays the same in ten years’ time would the trustees have a […]

read more

Statutory Wage Increase

HR Expert: Statutory Wage Increase | 4th December 2020 A client is concerned about the Government’s recent announcement that the National Living Wage will increase next year. Is there anything that they need to keep in mind, or any financial assistance that they may be entitled to? It is unlikely that the Government will introduce […]

read more

VQOTW: Post Brexit Supplies of Digital Services

VAT Question of the Week: Post Brexit Supplies of Digital Services | 25th November 2020 A number of clients supplying various kinds of digital /electronically supplied services to businesses and consumers in the EU. Their activities include the supply of downloadable software and Apps, and access to information, photo or videos held online. They currently […]

read more

New Lockdown Business Information

Lockdown Information | 5th November 2020 As England faces its second lockdown until 2nd December, there are number of new lockdown rules that apply for all businesses, including which businesses are able to stay open, amendments to the furlough scheme and further changes made by the UK Government. How will your business or employees be […]

read more

November 2020 Job Support Scheme Updates

November 2020 Job Support Scheme | 29th October 2020 After further changes to the Job Support Scheme, a client would like to know how the changes will affect them, especially as they are a smaller business. Please can you advise? Employers like your client have likely been preparing for the Job Support Scheme (JSS) as […]

read more

DKR Newsletter: October 2020

Although the first round of government Covid-19 (coronavirus) business support schemes are coming to an end, the fundamental problems caused by the pandemic are still very much with us. In acknowledgement of this, the government has cancelled the autumn Budget and announced various new measures in an unexpected Winter Economy Plan. We outline key aspects […]

read more

Job Support Scheme 2020 Extended

Job Support Scheme | 23rd October 2020 The Government has announced that it will increase the scale of support available to employers through the Job Support Scheme above what was initially announced, in order to protect more jobs. The new scheme will run for six months and will be reviewed in the new year. If […]

read more

Job Support Scheme 2020

Do you need to know more about the Job Support Scheme and what it consists of. Will you be eligible? and how can you apply for it if so? The Job Support Scheme (JSS) will replace the Job Retention Scheme (JRS). You may know that the JRS has been in place since March 2020 to […]

read more

Winter Economy Plan

The Chancellor Rishi Sunak has outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK. Support for Workers A new Job Support Scheme will be introduced from 1 November to protect viable jobs in businesses who are facing lower demand over the winter months due to coronavirus. Under […]

read more

DKR opens a new office in Stafford

We are pleased to announce the opening of our latest office in Stafford Technology Park. With our growing client base in Staffordshire and the surrounding areas, we felt it necessary to have an office closer to our clients in the area. Our offices are located at Unit 14, Pearl House, Anson Court Business Centre, Staffordshire […]

read more

Important Updates for businesses and the self-employed

Help for those who are self-employed Self-employed people whose livelihoods have been affected by coronavirus will be able to claim a second payment of up to £6,570 from 17th August – as the government continues to help drive the UK’s recovery. the second stage of Self Employment Income Support Scheme (SEISS) opens for applications from […]

read more

DKR merges with Williams Ashton & Anderson Ltd

DKR is proud to announce our recent merger with Williams Ashton & Anderson. We are excited to team up with a reputable South Birmingham firm that boasts 55 years of experience as Accountants and Business Advisors to a range of SME clients. We are two of the Midlands fastest-growing accountancy firms and will strive to […]

read more

Chancellor’s 2020 Budget

Chancellor's 2020 Budget Following the UK’s departure from the EU, Chancellor Rishi Sunak presented the 2020 Budget against a backdrop of economic uncertainty. Our Budget Summary provides an overview of the key announcements arising from the Chancellor’s speech. However, it also looks beyond the headlines and offers details on the less-publicised changes that are most [...]
read more

DKR launches a 24 hour COVID19 update service

Given the global pandemic we have teamed up with industry leaders to provide 24 hour support and up to date advice to our clients. With round the clock updates, factsheets and messages that are being posted on social media and a special broadcast list for our clients. To learn more sign up for our newsletters […]

read more

DKR sponsor the Asian Media Awards 2019

As a forward-thinking organisation, we are pleased to be sponsoring the 2019, Asian Media Awards. We have no greater sense of pleasure than that of working with vigorously determined, fastidious and bright, Asian entrepreneurs, philanthropists and media personnel. Through sheer grit, fearlessness and dedication we see on a daily basis how the Asian business community […]

read more

WGCA Annual Dinner 2019

Once again team DKR supported the Annual Accountants dinner organised by the WGCA current Chair Ben Powell. The venue was Worcestershire Cricket Club with guest speaker Gary Delaney and an array of entertainment.

read more

Walsall Works Bronze Partnership Award 2018

Walsall Works Bronze Partnership Award 2018 We were delighted to be given a Bronze Partner Award recently by Walsall Works, a Walsall Council programme designed to support local people with finding jobs, apprenticeships and training. The award was in recognition of the commitment DKR has made in providing employment for people from the local area.
read more
ICAEW-logo BAS-logo member-of-enterprise-nation-logo