Where a sole trader, partnership or LLP has established a significant value for the goodwill of their business it was possible up until 3 December 2014 to transfer that goodwill to a limited company and pay just 10% capital gains tax by claiming entrepreneurs’ relief. The former owner(s) could then draw down on the loan […]
The Massachusetts Department of Revenue is currently allowing a period of amnesty from penalties for the tax years 2012, 2013 and 2014. This will allow taxpayers who are behind on tax filings to save money, as they will only owe any tax and interest due. If you have not filed your Massachusetts return, you have […]
nspire Director, Chris Downing has been ‘On the Road’ again travelling to the States to attend the annual IR Global conference. Following on from last year’s visit to China, during May, I visited San Francisco for the annual ‘On the Road’ conference held by our international network, IR Global. The IR Global network puts accountants and lawyers together […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Spyridon Michopoulos of DINAMIKI EPE. Spyridon has joined IR as our exclusive Accounting Services, Tax (Accountants), Audit & Assurance Services Member in Greece. “In a constantly changing financial and taxation environment, our associates work with our customers to understand and deal with […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Richard Ashby of Gilligan Sheppard. Richard has joined as our exclusive Tax (accountancy) member in New Zealand. Richard has had over 25 years experience with NZ taxation, and particularly enjoys dealing with land tax issues and the GST regime. He deals […]
C4L Group Holdings Limited are a successful and growing network services and data centre hosting business. C4L was sold to Selection Services Investments Limited, a wholly-owned subsidiary of Castle Street Investments PLC, a company quoted on the AIM market operated by London Stock Exchange plc (AIM: CSI). The sale was for a total consideration of £20.2 […]
VAT Reverse Charge Mechanism to apply to Certain Wholesale Supplies from 1st February 2016 Certain UK clients have asked me to explain the VAT rule changes for UK wholesale telecommunications supplies, and hopefully this blog will do that. From 1st February 2016, providers of wholesale telecommunications services in the UK will no longer apply VAT […]
When it comes to deadlines, March is to your business what April is to your personal taxes: a time of due dates and decision-making. Here are three business-related tax events — and due dates — to be aware of this month. Subchapter S election. If you plan to convert your C corporation to an S […]
Cash flow statement is a vital component of any financial statements. According to the International Accounting Standard (IAS/IFRS) set, Companies are required to provide a cash flow statement as mandatory component of their financial statements. IAS 7 specifically indicates that “Information about the cash flows of an entity is helpful in providing users of financial […]
Expect to hear from the IRS again about phone calls regarding tax debts. What will differentiate this announcement from those made in the past? This time the IRS may say that some calls can be legitimate. Under a law that went into effect in December, the IRS is required to use private debt collectors to […]
The Government announced at Autumn Statement 2015 that the current two year temporary reporting relaxation will end as planned on 5 April 2016. The relaxation permitted employers who at 5 April 2014 employed no more than 9 employees, to report their PAYE information for the tax month ‘on or before’ the last payday in the […]
This year, two countries tied first place for the best climate in the world. They’re both English-speaking but only one is safe, with a flat 15% tax rate, excellent health care and ocean views… Every January, International Living rates and ranks 192 countries for their Quality of Life Index in nine categories. And the […]