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Articles & Insights

9th August 2019

Five tips on valuing your business

With the launch of the new series of Dragons’ Den we thought we’d tackle one of the key mistakes that so many of the entrepreneurs make – over valuing their business. Business valuation is not an easy task and involves many assumptions and variables, but to help you get started here are our 5 top […]

2nd May 2019

The Use of Holograms in Licensing

For the licensor, holograms help to protect brand integrity by distinguishing between approved products and counterfeits – acting as a form of quality control. Licensees are expected to purchase carefully designed holograms from a preferred supplier and incorporate into the packing or labelling of any branded item they produce. Simultaneously, holograms also allow licensors to […]

2nd May 2019

The need to knows when it comes to royalty auditing in the fashion industry

If you’re a big global brand like, for example, David Beckham, you will be able to sell millions of pounds worth of fashion items like sunglasses and aftershave all around the world. The only problem is that Beckham is a footballer and he can’t make cool looking shades or exquisite fragrances. This is where the […]

2nd April 2019

Tax FAQs for authors

Q: What are the most common mistakes on tax returns?

The most common error is to show income after the deduction of agent’s commission and VAT. You should always show your gross income, before deductions, and make a separate claim for commission and VAT costs.

2nd April 2019

Top tips for record-keeping on the road

1. If you’re using a car for business purposes, it’s important to keep a log of business miles. If this isn’t possible all the time, it’s a good idea to keep a record for a representative period of three or four typical months to make an overall calculation from.

1st April 2019

Can I be employed and self-employed at the same time?

I’m a journalist on a casual contract and an artist – should I remain on PAYE or become self-employed?

1st April 2019

Conflicts of interest: a timely reminder

Identifying and dealing correctly with a potential conflict of interest within your charity is fundamental to its continuing operation and fundraising ability. It is vital that charity trustees have a clear understanding of the basic definitions of conflicts of interest and why they matter, particularly at a time of declining public trust in charities.

1st April 2019

Forget the end of year tax rush, top tax-saving tips for investors in 2019/20

If you can start the new tax year off by saving you will have more flexibility to look around and ask yourself whether certain savings strategies are right for you, instead of just using up an allowance because it will be lost. You will be making a conscious decision to become a proactive investor rather than reacting to an impending deadline.

19th March 2019

How to prepare your business for Brexit

How well prepared for Brexit are you? Probably not very if you’re being honest with yourself. Last month the Federation of Small Business (FSB), warned confidence among small to medium sized enterprises (SME) was at its lowest level since 2011.

12th March 2019

Top tips on tax aspects of your business

In times of political and economic uncertainty, it is more important than ever for businesses to consider the scope for tax savings in order to help their cash-flow.

21st February 2019

Thinking about selling your business?

Here are our top tips if you’re considering selling your business and what you can expect from the sale process.

30th January 2019

Insolvencies on the rise

The official insolvency figures for the fourth quarter of 2018 were released on 28th January 2019. Brian Johnson, business recovery and insolvency partner here at HW Fisher comments.

7th January 2019

A miscellany of hints, tips and wrinkles for writers based in the UK

UK writers have to cope with income tax, national insurance, sometimes VAT, and record-keeping. This may seem overwhelming at times and professional advice can be invaluable. The key points of importance are below.

2nd January 2019

How to manage cash flow: 5 quick tips

If you’ve woken up in the middle of the night in a cold sweat worrying about how you are going to pay the wages for your loyal staff then read on.

2nd January 2019

Capital allowances: a guide for authors

Capital allowances let you claim tax relief on capital expenditure. Relief is available on items such as computers, office furniture and equipment, reference library, vehicles and other physical assets you may use in your professional activities.They represent HMRC’s version of depreciation, which cannot be claimed in any other way.

17th December 2018

Author expenses – a checklist

It’s important to know what expenses you can claim as an author; it may be more than you think, especially if you use your home as your office. The below is not an exhaustive list, but highlights areas where you may be able to make a claim.

29th November 2018

HMRC preferred creditor status renewal from 2020 a regressive move

Brian Johnson, business recovery and insolvency partner at HW Fisher assesses the impact of the Chancellor’s announcement that HMRC will become a preferred creditor in insolvency cases from 2020.

26th October 2018

Autumn Budget 2018 Predictions

Ahead of the Budget next week, two of our partners here at HW Fisher, Tim Walford-Fitzgerald and Toby Ryland consider what the Budget might hold.

12th June 2018

Making Tax Digital for VAT

The first stage of the Government’s Making Tax Digital (MTD) programme is being introduced in April 2019.

25th January 2018

Too good to be true: the alluring threat of pension scams

Pension fraud is on the rise. So what can you do to protect yourself and others from falling victim to a scammer?

22nd January 2018

Major customer insolvency: how to lessen the impact on your business

When a large company like Carillion becomes insolvent the impact on its supply chain can be devastating, and will leave many suppliers wondering what to do if a major customer becomes insolvent.

4th January 2018

How to fill out your self-assessment tax return online, claim expenses and the allowances you need to know about now

It’s nearly that time of year again: the dreaded self-assessment tax deadline falls in little over a month and more than 10 million of us need to file a return.

14th November 2017

No respite for tax relief – where the Budget axe could fall

Chancellor Phillip Hammond takes to the Despatch Box in November to deliver his second Budget of 2017.

3rd November 2017

Interest rate rise will haunt Britain’s army of zombie firms

It’s the stuff of economic nightmares, but this week’s interest rate rise brought it a step closer to reality.

1st November 2017

Business confidence in Brexit negotiations evaporates – yet the first casualty is perception rather than profit

A clear majority of business leaders are worried – but increasingly fatalistic – about Brexit, according to our new analysis.

21st August 2017

Corporation tax: The race Britain can never win

Like it or not, Brexit is beginning and the effects are impacting businesses in the UK. But, while we are starting to see the fallout, many questions remain unanswered. And one of these questions involves corporation tax.

15th August 2017

Accounts and tax: A small business guide to managing your finances

You’ve decided to branch out on your own. Your business plan is solid and you’ve chosen how to trade. You’ve sorted your bank account, insurance is covered and you’ve registered with HMRC.

15th August 2017

Why tech firms shouldn’t panic about Brexit and the hung parliament

Ross Fabian, partner at accountancy firm HW Fisher, explains why we shouldn’t worry about Brexit – the UK tech industry is strong enough to stand on its own two feet.

15th June 2017

Thinking of setting up a financial business? What you need to know.

If you’re ready to go it alone in the financial services sector, you’ll understand the need for a comprehensive business plan backed up by incisive and diligent accounting. The ultimate goal is to pursue opportunity while balancing the demands of process and regulation. And wherever possible you’ll want to make the rules work for you.

28th May 2017

Outsourcing Vs Insourcing – when should your financial firm resource on demand?

Financial firms are outsourcing an increasing variety of tasks, from IT and fintech to lead generation and customer relationship management, back-office functions, and accounting.

17th May 2017

How the new IHT rules are confusing families

These days, you don’t have to be hugely wealthy to be affected by Inheritance Tax (IHT). House prices have risen steadily over the years, meaning that more and more families are finding themselves drawn into the net.

16th May 2017

Trusts and keeping wealth in the family

For the average person, the sums reported in the annual publication of the Sunday Times Rich List are beyond imagination.

11th May 2017

What small businesses want from Brexit

Now that Theresa May has triggered Article 50, the UK looks set to enter a lengthy period of debate and speculation as to what the future might hold for the economy and international trade.

12th April 2017

Reforms and red tape: How small charities could feel the burden of third sector governance changes

In the wake of some very public third sector scandals there have understandably been calls for reforms in the way charities operate and the information they publish.

11th April 2017

How will Brexit impact financial services firms?

Short answer: no one really knows. Brexit remains a moving feast and we won’t have all the answers for some time. But the financial sector is used to dealing with complexities – it’s all about asking the right questions in order to prepare for (and even profit from) any eventuality.

4th April 2017

Compliance calendar. The key financial regulation to prepare for now.

The City is no stranger to legislation. The financial sector is one of the most heavily regulated in the world. And it never stands still.

30th March 2017

Did you know? Tax and accounting rules and efficiencies for financial firms

Is your financial firm missing out on margin opportunities? Following our previous quick guide to meeting your tax obligations, we highlight some of the key tax and accounting considerations to prepare for and manage plus tips to maximise efficiencies.

23rd March 2017

New ‘benefits in kind’ rules hit generous businesses the hardest

From April 6th 2017 a host of tax-free employee benefits are to be restricted.

23rd March 2017

Spotlight on… Kate Lyall Grant

We speak to our client, publisher Kate Lyall Grant of Severn House Publishers.

17th March 2017

Quick guide to your financial firm’s tax obligations

Most people are aware of their general tax obligations. Especially those who work in financial services. But good intentions don’t file returns. Equally, conscientiousness alone can easily miss out on margin efficiencies.

10th March 2017

Blended families and Inheritance Tax – the issues

Thousands of UK households around the UK are now made up of blended families, often comprising children belonging to different partners, grown-up offspring, new babies, aunties, uncles and multiple sets of grandparents.

16th February 2017

Financial skills we should pass on to the next generation

It seems it’s never too early to start introducing children to the concept of money management, helping them develop good financial habits that will stand them in good stead for the rest of their lives. Although learning about money is now part of the National Curriculum for secondary schools in England, it isn’t specifically included […]

14th February 2017

Billions tied up in small business disputes

Disputes may be seen as an inevitable part of doing business, but many small firms are struggling as they don’t have the time or resources needed to deal with them effectively.

7th February 2017

The Apprenticeship Levy – what employers need to know

Over the last decade, huge strides have been made in reforming apprenticeships and making them fit for purpose. The government sees them as a vital tool in tackling the growing skills gap that has been increasingly apparent in many sectors of the economy for some time.

26th January 2017

Government help for exporters post-Brexit

With international trade firmly at the centre of the UK’s exit negotiations with the EU, the old slogan “export or die” is taking on renewed meaning and greater urgency.

16th January 2017

A best-practice guide for SMEs in 2017

For SMEs, this is the perfect time of the year to set some best-practice objectives that will help make 2017 prosperous and profitable.

12th January 2017

When the cheque isn’t in the post – how late payment affects UK businesses

As many small and medium-sized businesses know only too well, large companies can often take far longer than they should to pay them for goods or services supplied, causing continual cashflow headaches.

4th January 2017

Financial resolutions for a happy new year

It’s that time of the year again. The post-Christmas period can be a good opportunity to take stock of your finances and make some simple and achievable resolutions with a view to making them a reality in 2017.

16th December 2016

Buy-to-let landlords facing more taxing times

With house prices rising steadily over the last few years and interest rates remaining low, many investors opted to put their money into property and become buy-to-let landlords. The generous mortgage tax relief on offer made the proposition even more attractive.

15th December 2016

How Bletchley Park will help in the UK’s war against cyber crime

With worldwide cybercrime continuing to make the news headlines, and a recent spate of allegations levelled at countries like Russia and China, the government has pledged £1.9 billion over the next five years in a new cyber defence plan, called the National Cyber Security Strategy.

12th December 2016

The journey to a digital future

With so many of our daily tasks routinely conducted over the internet, it’s hardly surprising that statistics from HM Revenue & Customs (HMRC) show that nine out of every ten tax returns are now submitted online, and that for the 2015 tax year, only 11% of the 10.39 million tax returns filed were made in paper form.

1st December 2016

The Autumn Statement – Hammond’s plans for a ‘match fit’ economy ahead of Brexit

In what was to be his first and last Autumn Statement the Chancellor, Philip Hammond, began by striking an upbeat note, announcing that the UK’s economy will be the fastest-growing major economy in the world.

28th November 2016

Brexit: Where do we go from here?

The High Court ruling that MPs must give their go-ahead before Article 50 of the Lisbon Treaty can be triggered has thrown an enormous spanner in the works.

24th November 2016

No mercy for non-doms: Another tax hit looms for those who own UK property through offshore structures

In August the Treasury confirmed that the UK inheritance tax (IHT) advantages enjoyed by non-UK domiciled owners of UK residential property will end, as planned, in April 2017.

24th November 2016

HMRC’s digital future – death of the tax return?

By 2020, the government plans to introduce a digital tax system for all UK taxpayers.

24th November 2016

Brexit may mean Brexit, but what will it mean for business?

The process of Brexit will be neither quick nor easy, with even the Chancellor warning that British businesses face a “rollercoaster.” Corporate tax partner Toby Ryland charts the potential ups and downs that lie ahead.

16th November 2016

America enters the Trump age

The announcement that Donald Trump would be taking up residence in the White House from January was met with loud gasps of disbelief from around the world, in a scenario reminiscent of the morning after the UK voted to leave the EU.

14th November 2016

Is UK broadband in need of a reboot?

At the Conservative Party Conference, Theresa May pledged her government to improve the state of the UK’s broadband remarking that “half of people living in rural areas, and so many small businesses can’t get a decent broadband connection”.

7th November 2016

UK skills shortage – how can the gap be filled?

In June, figures from the Office for National Statistics showed that unemployment had dropped to its lowest rate since 2005, and the employment rate was at a record high of 74.2%.

27th October 2016

Trump v Clinton – who’s best for the economy?

The US election is intriguing on many levels. On the one hand, you have Democrat Hillary Clinton, a long-serving and high-ranking politician with a working knowledge of US government administration, on the other, Republican Donald Trump, a larger-than-life billionaire businessman who has little or no political experience, but talks tough and makes extravagant promises.

19th October 2016

Is a universal basic income a step nearer?

In June, Switzerland became the first country to hold a referendum on the potential introduction of a universal basic income. Although it was defeated by 77 per cent of voters on this occasion, it has succeeded in starting a lively debate about the merits of such a proposal.

12th October 2016

Pensions: Don’t put off until tomorrow what you can do today

When will you reach your peak earning potential? Many people assume it will be towards the end of their careers, perhaps at some point in their 50s, giving them more time to plan their finances before they approach their retirement years.

4th October 2016

The ‘Bank of Mum and Dad’ – is it set to go overdrawn?

It’s a familiar scenario faced by many parents: their children want to spread their wings, move out of the family home and buy a property, but they can’t make the sums add up without help from that well-known and often-used financial institution, the ‘Bank of Mum and Dad’.

22nd September 2016

Could SMEs and start-ups be the key to post-Brexit success?

It’s long been acknowledged that small to medium-sized businesses (SMEs) are the engine room of the economy, employing more than half of all private sector workers and contributing 50 per cent of UK GDP. They have a combined turnover of £1.8 trillion and hire 60 per cent of all private sector employees.

15th September 2016

Are we being served? UK service industries bounce back

The Purchasing Managers’ Index (PMI), long regarded as a barometer of the health of various key sectors of the UK economy, has produced more good news this time about the state of the services sector.

5th September 2016

The Bribery Act – doing business a favour?

Before the passing of the Bribery Act 2010, offering prospects or clients lavish corporate hospitality ahead of an important deal or contract might not have raised too many corporate eyebrows in some quarters.

5th September 2016

Pension Funds: Mind the gap!

The recent demise of BHS and the issues surrounding the potential sale of Tata Steel UK both served to highlight the significance of pension liabilities for UK companies operating underfunded Defined Benefit pension schemes

26th August 2016

End credits roll for film partnership investors – or do they?

A good film has the power to transport the viewer to another place, with the spell only breaking when the end credits appear.

26th August 2016

Could Brexit trigger a tax bonanza for UK business?

The prospect of tax cuts – or at the very least, the freedom to cut taxes unfettered by EU rules – was one of the Brexit campaign’s trump cards.

26th August 2016

No mercy for non-doms: Another tax hit looms for those who own UK residential property through offshore structures

In the end, there was no eleventh hour reprieve. In August the Treasury confirmed that the UK Inheritance Tax (IHT) advantages enjoyed by non-UK domiciled owners of UK residential property will end, as planned, next April.

22nd August 2016

Rail fares derailed by inflation

The announcement of July’s inflation figure spells further bad news for rail commuters.

16th August 2016

Auto-enrolment: The tortoises and the hares

Auto-enrolment is arguably one of the most fundamental changes to UK working practices to be introduced in the last few decades.

28th July 2016

Brexit: The wait begins

When the result of the EU referendum was announced in the early hours of Friday 24th June it was undeniably a tremendous shock to many people, both here and abroad.

18th July 2016

The modern face of personal bankruptcy

Getting into debt was once viewed as a shameful state of affairs, with faintly Dickensian overtones of penury followed by the prospect of life in the workhouse.

14th July 2016

Auto-enrolment set to create a new cohort of younger savers

When it comes to seriously engaging with savings, it had been widely assumed that it was the older generation who were best at making provision for the future.

8th July 2016

Retirement – why we need a new and broader definition

There was a time, not so long ago, when many people’s lives fell neatly into three distinct stages – they were educated, embarked upon a career and then retired.

8th July 2016

Pension freedoms – a year of thinking differently

The new pension rules introduced a little over a year ago were rightly heralded as a revolution. Gone are the days when, on reaching 65, retirees automatically swapped their pension pots for lump sums and an annuity provided by their insurers, cleared their desks and embarked on their retirement.

30th June 2016

Annual Tax on Enveloped Dwellings (ATED) on £500,000+ Properties

ATED was first introduced in 2013 on high-value UK residential properties worth over £2 million which are owned by companies, partnerships with corporate members and certain investment vehicles. ATED has created a new filing obligation with penalties charged for late filing.

16th June 2016

IR35 – The government ups the ante for contractors working in the public sector

The government’s long-running drive to limit the ability of individuals to avoid tax by working through personal service companies has stepped up a gear.

16th June 2016

New limits on the tax deductibility of corporate interest – Could they trigger a switch from debt to equity finance?

Debt finance is the lifeblood of many companies, and arguably the banking system’s greatest contribution to the continued functioning of UK Plc.

16th June 2016

Shoot first, ask questions later – Help is at hand for those who fall foul of the VATman’s “get tough” regime

The decision to penalise a business for making an error on its VAT return is supposedly at HMRC’s discretion.

16th June 2016

Buy-to-let landlords – Time for smart planning, not a siege mentality

Media coverage of the recent tax changes affecting buy-to-let landlords has talked breathlessly of the Exchequer “declaring war” on the estimated two million people who receive income by investing in British bricks and mortar.

27th May 2016

Journey to the East – Setting up operations in China

China’s progress over the past few decades has transformed the economic might of hundreds of millions of Chinese households.

27th May 2016

Could royalty audits be the golden ticket for business revenue?

Licensing can be a complex process, and misinterpretation or miscalculation can cost businesses alarming sums.In the past, the receipt of royalties was largely confined to authors, screenwriters and musicians, keen to protect their artistic product.

27th May 2016

No more power without responsibility – Shadow Directors’ duties defined

A gradual tightening of the rules on shadow directors has imposed greater transparency and responsibility on those who influence companies but are not appointed directors.

27th May 2016

New data protection laws turn up the heat on charities

In the midst of several high profile funding disputes, cases of vulnerable individuals being targeted by aggressive cold callers and increasing press criticism of ‘telephone chugging’, charities are subject to greater scrutiny than ever before.

27th May 2016

The end of abbreviated accounts

Many small companies choose to place only “abbreviated” accounts on the public record. This option has now been replaced by a new regime which has a broadly similar effect but there are changes in the detail.

27th May 2016

Buy-to-let limited – should landlords consider a company?

UK landlords are facing a series of radical tax changes which are hitting the buy-to-let market.

27th May 2016

Been there done VAT mitigating the costs of VAT errors

It’s a safe bet that whoever coined the phrase ‘you learn from your mistakes’ obviously never received a VAT penalty from HM Revenue & Customs (HMRC).

26th May 2016

Budget 2016: Carrot or stick choice for tax-avoiding businesses, while BTL investors can be forgiven for being paranoid

Tax and savings were central to the Chancellor’s Budget speech in March.

26th May 2016

UK Plc 101 – A practical guide for foreign companies acting in the UK

The ease of doing business in the UK has played a massive role in attracting large numbers of foreign companies to set up in Britain.

26th May 2016

Cloud accounting and exciting options for our clients

Our back office services team, FisherE@se, provides bookkeeping, management accounts and payroll services.

26th May 2016

Building up a nest egg

Growing old is never a question of choice. But we can choose how to secure our financial future and the quality of life during retirement.

26th May 2016

With Westminster viewing everything through a Brexit lens, has it lost sight of the economy?

It says a lot about the state of British politics that when a senior cabinet minister resigned in March over the Government’s welfare reforms, his real motive was immediately judged to be something else entirely – Europe.

26th May 2016

Could Brexit turn Britain into a corporate tax haven?

Might a non-EU UK end up aping the tax havens that sparked so much criticism following the release of the Panama Papers?

20th April 2016

PSC Register – Explanatory note

There is a new requirement which has recently been widely published in which the director of every Company has a new obligation under the Companies Act 2006 (“the Act”) to keep and maintain a new Register called a People of Significant Control Register (“PSC Register”).

25th March 2015

What is Members Voluntary Liquidation and when to use it

Most people in the business world are familiar with a CVL or Creditors Voluntary Liquidation. It’s usually not good news and has a certain stigma attached to it. However, not quite so much is known about an MVL or Members Voluntary Liquidation. So what exactly is an MVL and how does it differ from a CVL?

11th March 2013

Overpayment of suppliers and poor credit control

Their causes may differ, but both these problems can needlessly cost a charity time and money.