News

Clive Owen LLP responds to the Economic Crime and Corporate Transparency Act 2023: navigating new Companies House regulations

Clive Owen LLP responds to the Economic Crime and Corporate Transparency Act 2023: navigating new Companies House regulations

Date posted: 19th Mar 2024

A leading independent regional accountancy firm is warning businesses of extra Companies House checks and charges after legislative changes came into effect. Clive Owen LLP, which has offices…

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North East Shadow MPC – March 2024

North East Shadow MPC – March 2024

Date posted: 19th Mar 2024

Experts from different sectors in and around the North East took part in the Shadow MPC. The MPC is a partnership between Clive Owen LLP and The Northern…

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Accounting shift for sole traders and partnerships announced by HMRC ahead of ‘Making Tax Digital’

Accounting shift for sole traders and partnerships announced by HMRC ahead of ‘Making Tax Digital’

Date posted: 8th Mar 2024

In a significant development aimed at streamlining financial reporting for businesses, HM Revenue & Customs (HMRC) has announced a new basis of accounting for sole traders and partnerships.

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IMPORTANT – HMRC “hand brake turn” on Double Cab Pick Ups.

IMPORTANT – HMRC “hand brake turn” on Double Cab Pick Ups.

Date posted: 13th Feb 2024

Disclaimer: Further guidance on the tax treatment of double cab pickups has been provided, HMRC have reversed the decision to change the rules from 1 July 2024. You…

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Commercial vehicle tax updates

Commercial vehicle tax updates

Date posted: 13th Feb 2024

WHEN IS A VAN NOT A VAN? HMRC are being urged to provide clarity and consistency on the tax treatment of commercial vehicles such as VW Kombi vans…

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HMRC’s latest area of interest – undeclared dividend income

HMRC’s latest area of interest – undeclared dividend income

Date posted: 12th Feb 2024

We understand that HMRC have issued a number of “nudge” letters aimed at those that may be undeclaring dividend income. These are sometimes known as “One to Many”…

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How Artificial Intelligence is assessing the risk of tax evasion by businesses

How Artificial Intelligence is assessing the risk of tax evasion by businesses

Date posted: 12th Feb 2024

We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and in the future. AI…

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Payrolling benefits in kind

Payrolling benefits in kind

Date posted: 12th Feb 2024

Employers can opt to deal with taxable benefits in kind through the payroll (known as ‘payrolling’) rather than reporting them to HMRC after the end of the tax…

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Property expenditure – revenue or capital?

Property expenditure – revenue or capital?

Date posted: 12th Feb 2024

Work may be undertaken on a property to repair it or to improve it and it will not always be clear where the dividing line falls. The distinction…

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Capital gains tax reporting of residential property disposals – reminder

Capital gains tax reporting of residential property disposals – reminder

Date posted: 12th Feb 2024

Since April 2020, where capital gains tax (CGT) is payable on the disposal of a UK residential property, this must be paid (and declared) within a certain number…

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