HMRC has been carrying out increased checks on the private use of employer provided company vans with a view to levying a benefit in kind where they can demonstrate there has been private use.

A self invested pension plan (SIPP) is a flexible way to make your savings work for you as well as plan for your future.

don't miss the Self Assessment deadline!

Exeter-based chartered accountancy firm Simpkins Edwards has recently recruited four new trainees on a work-study basis.

“ESC C16” is a much used phrase in a tax practice. Whilst it may mean little to most, in reality it can be very useful for many business owners and entrepreneurs.

We take a look at a very surprising local business.

A 3 year survey of farming clients who are advised by Charter Group* members reveals consistent results year on year – those in the top quartile for turnover are not the most profitable client group.

In the Autumn Statement summary prepared on 29 November, we promised to provide you with an update if there were any significant changes announced on 6 December.

Simpkins Edwards has helped play a part in giving one girl the experience of a lifetime.

On Tuesday 29th November the Office for Budget Responsibility (OBR) published its updated forecast for the UK economy. Chancellor George Osborne responded to that forecast in a statement to the House of Commons later on that day.

If you believe what you’ve read recently, opportunities to fund business expansions and acquisitions are few and far between. Here we take a look at one success story that proves that if you’ve got the right business, the right people and the right advice, you can make a success of a new venture whatever the economic climate.

When to buy – an important consideration with the change of Annual Investment Allowance in April 2012

Exeter Chiefs’ flying winger, Matt Jess, has given a boost to an upcoming charity event by pledging to make a special appearance on the night, whilst there will also be a shirt signed by the entire squad up for auction.

HMRC has published new advisory fuel rates, which apply to all relevant journeys made on or after 1 June 2011.

There are many factors to consider when determining the most tax-efficient way to extract funds from a family company.

Penalties have increased for late filing and payment of income tax through Self Assessment meaning that a return filed six months after the deadline could now attract a fine of at least £1,300.

Is aimed at encouraging would-be entrepreneurs to start their own businesses.

The closing date for entries is 26th September.

Changes include increased levels of scrutiny and harsher penalties.

Knowing the value of your business can be very important. It can help to improve the business’ real or perceived value as well as assisting you in deciding on the best time to buy or sell.

Low interest rates mean a low return on savings. So, consider the opportunity to boost returns by choosing tax-free saving and investment.

Those of us with a sweet tooth here in the SouthWest will have probably enjoyed many a delicious dessert from local producer Sweet Sensations.

South West Regional Round of the Blonde Crossbreed Herd Competition 2011

Businesses that sell hot food to take away might be able to reclaim VAT declared on their sales over the past 4 years.

There is an opportunity for golf clubs to seek to recover VAT paid in respect of green fees paid by visitors.

How do you maximise the potential of an ageing workforce?

A new scheme is offering funding to small and medium-sized enterprises (SMEs) to engage in Research and Development (R&D) projects in science, engineering and technology.

A Simpkins Edwards’ client is doing its bit for charity.

It may seem a chore, but there are advantages of maintaining accurate personnel records…

From 1 November 2011, banks and building societies across the UK will be offering a new taxfree children’s saving account.

With effect from 6 April 2011 there were significant changes to the tax implications of employer-supported childcare.

Deciding on a marketing strategy is essential for new and growing businesses.

HMRC has scaled back its helpline service, following a ‘realignment’ of its contact centre opening hours.

In the current climate and with bank lending criteria getting tighter by the day, we’re having to be smarter and more creative when it comes to funding new or expanding businesses. Here are just a few alternatives to consider…

Family fun that raises the rev counter!

Following a recent ECJ Ruling HMRC have amended their guidance

HMRC trials single compliance process

George Osborne presented his second Budget on Wednesday 23 March 2011.

In his Autumn Statement on 29 November 2010, Chancellor George Osborne presented his reaction to the economic forecasts of the Office for Budget Responsibility, and also outlined the Government’s plans for reforming corporate tax over the next five years.

Local businesses need to take extra care over the coming weeks when issuing and receiving invoices.

Really Big Quiz Raises Thousands For Hospice

Exeter College Academy celebrates a year of helping students bound for top UK universities

George Osborne presented his first Budget on Tuesday 22 June 2010.

Following the change of Government, the indications are that there will be a budget within 50 days

With effect from 6 April 2010 Simpkins Edwards has converted to a Limited Liability Partnership (LLP).

Our SME client base may take some heart from this budget.

An opportunity to recover VAT on Business Entertainment

HMRC has announced a new Tax Health Plan (THP) aimed at encouraging medical professionals to disclose all previously undeclared income in return for a reduced penalty.

Chancellor Alistair Darling presented his Pre-Budget Report on Wednesday 9 December 2009.

Simpkins Edwards has been recognised as a “Supporter” of an exciting new academic initiative launched by Exeter College this summer.

Simpkins Edwards have released new 'Terms of Business'.

Egghead beats the business boffins in city quiz.

Our summary focuses on the issues likely to affect you, your family and your business.

During his 50 minute Budget speech Mr Darling announced a pot pourri of measures and initiatives designed to help the UK economy “Invest and grow our way out of recession.

It’s not often that the government offers businesses help with finances but in the Pre-budget Statement Gordon Brown introduced some welcome assistance for cash strapped businesses called “Time to Pay”.

The Government has launched a new code of practice aimed at increasing the speed of payments to small businesses, called the Prompt Payment Code.

It now seems no longer a question of whether there will be a recession in the UK but of how prolonged this will be. 2009 therefore promises to be a challenging year for many businesses. Simpkins Edwards is offering a helping hand to clients.

With Winter now upon us, why not take advantage of the various forms of tax relief to ensure a wealthier and more profitable New Year for both you and your business?

Amidst the challenges posed by the recession, some small and medium sized enterprises (SMEs) have been given a scrap of good news as they can now benefit from significant changes to Research and Development (R&D) tax credits which came into effect on 1 August 2008.

Local sourcing was on the agenda at a meeting of the Devon Farm Management Association, sponsored by Simpkins Edwards, with a buyer from Tesco plc on hand to give an insight into how one of the UK's largest supermarkets is viewing the future for food supplies.

Chancellor Alistair Darling's Pre-Budget Report has generated a mixed reaction from the business community, with measures designed to help small businesses survive through recession broadly welcomed.

Chancellor Alistair Darling has presented his second Pre-Budget Report against a backdrop of impending recession. As expected, he used the report to outline a series of measures that the government hope will protect and support businesses and individuals in these ‘extraordinary, challenging times for the global economy’.

HMRC are warning taxpayers that a high number of hoax emails have been sent out in their name offering a tax rebate. The emails contain the correct logo and a convincing email address and therefore appear genuine, but anybody clicking on the link is then required to enter sensitive information to claim their rebate.

A CBI forecast has predicted a ‘shallow recession’ during the final part of 2008 and that growth in the economy in 2009 will be the lowest since 1992.

Chartered accountants and business advisers Simpkins Edwards have announced the appointment of two new partners, increasing the partnership to eleven.

Ed Haine, Corporate Finance Senior with chartered accountants Simpkins Edwards, has passed his final ACA exams achieving the distinction of first place within the South Western District Society in the Advanced Case Study.

Guests from businesses across Devon joined chartered accountants and business advisers Simpkins Edwards to celebrate the firm’s 40th anniversary at two events in the region, in Barnstaple and Exeter.

Devon business seminars counsel caution and precaution.

The Chancellor has announced further changes to the tax system following the abolition of the 10p starting rate of tax for some forms of income.  

Businesses in the UK face a difficult period over the next two years, according to The British Chambers of Commerce.

TV Quiz expert joins winning team...

A series of seminars will advise Devon businesses how to manage in a difficult economic climate as the UK economy appears to be visibly slowing.

The end of another tax year is upon us. This always means a busy time for anybody involved in payroll. Simpkins Edwards payroll manager, Tim Chapman, reviews some areas to help you ensure your processing goes smoothly.

40 years after stopping Exeter’s High Street traffic to winch a huge main frame computer in to their offices, chartered accountants and business advisers Simpkins Edwards are celebrating their ruby anniversary with the launch of a new website.

Simpkins Edwards partner, John Coombs, gives an initial overview of the Chancellor’s debut Budget

Rural businesses need to plan now for the tax changes taking effect in April. That's the message Mary Jane Campbell, agricultural partner at chartered accountants Simpkins Edwards, will deliver to the Institute of Agricultural Secretaries and Administrators conference in Torquay on Saturday 8th March.

Environmentally-conscious businesses may be missing out on a wide range of ‘green’ tax breaks because of lack of awareness coupled with a complex application process, according to chartered accountants and business advisers Simpkins Edwards.

The Chancellor has unveiled a new Entrepreneurs' Relief as part of the changes to the Capital Gains Tax (CGT) regime taking effect from April 2008.

With the end of the current tax year on the horizon, Chris Bowker, partner at chartered accountants Simpkins Edwards, warns that now is the time to plan for the changes to our tax regime that take affect from April 2008. 

Despite Exeter consistently figuring in “quality of life” surveys, anyone working in the city knows its wonderful attractions are somewhat tempered by that scourge of modern urban living – traffic.

Long established property agents and livestock auctioneers Kivells have acquired KVN Stockdale - the equally well known South West firm of agricultural auctioneers and property estate agents - for an undisclosed sum.

Jean-Paul Quertier, Director of Corporate Tax at chartered accountants Simpkins Edwards, points out the extra sting in the tail accompanying the proposed reforms to the Capital Gains Tax regime.

The financial press in recent months has been dominated by the impact of the “credit crunch” on the UK economy, with forecasts of a slowdown in corporate transactions as the banks become less willing to lend money.

Devon-based chartered accountants and business advisers Simpkins Edwards are supporting a new scheme aimed at young people who want to be the agricultural entrepreneurs of the future.

Simpkins Edwards have appointed Adrian Hemmings as Corporate Finance Director and Jean-Paul Quertier as Corporate Tax Director.

Leading Devon-based accountants Simpkins Edwards has joined the CharterGroup, a national network of quality independent accountancy practices.