Blog
Saving the Benefit in Kind on your company car if you are not using it
If you have a company car but are not currently using it because of the coronavirus outbreak, then you will still be liable to pay the Benefit in Kind (BIK) unless you can prove the car is unavailable for use for 30 days.
Remote audits
How Ellacotts has adapted our audit processes to be conducted remotely during the coronavirus outbreak.
Changes to the Employment Allowance from April 2020
HMRC announced that from Monday 6 April 2020, the eligibility rules for claiming the Employment Allowance (EA) will change. Before you claim you will now have to make extra checks to find out if you are eligible to claim.
Tax relief on professional fees and subscriptions
Did you know that you are allowed to claim tax relief on your annual professional fees or subscriptions to some HMRC approved professional organisations? The costs are tax-deductible generally where you must have a membership to do your job or it is helpful for your...
Claim a VAT refund if you build a home – don’t leave it too late!
If you are building a new home or converting a non-residential building (such as a barn) into a home, you may be able to reclaim VAT on materials used under the ‘DIY Scheme’. The value of claims under this scheme can be significant. When do I need to submit my VAT...
Know your Plant and Machinery Allowances
It’s that time of year again, the nights are long and it’s the start of a new year. Whilst the thought of harvest 2020 is a particularly daunting one given the horrendous conditions affecting autumn drilling, you may be thinking ahead to machinery requirements, keen...
Will Inheritance Tax be charged on my farmhouse when I die?
We are often asked about how Inheritance Tax (IHT) will be charged on farmhouses at Ellacotts. Sometimes the answer is simple, however, often it’s not. This is because, legislation changes, the use of a particular farmhouse changes, and the use of the land the...
Beware of the latest HMRC caller scams
High-level HMRC scams, where criminals impersonate HMRC in order to steal from bank accounts or get access to sensitive personal financial information, has become increasingly common. The latest HMRC scam involves bogus callers using apparently genuine HMRC helpline...
Do you know about Business Asset Rollover Relief?
Business Asset Rollover Relief allows you to delay your payment of Capital Gains Tax (CGT) if you dispose of business assets and use all or part of the proceeds to buy new business assets.
Spanish authorities are clamping down on foreign property owners
News announced this month that the Spanish tax authorities are clamping down on the transparency of ownership in respect of property ownership in Spain; with the use of an Ultimate Beneficial Owner Register.
Brownies are cakes and subject to zero-rated VAT in a recent case
Negotiating the VAT rules is a complex business. One recent tax tribunal case saw discussions about whether a chocolate brownie is classed as a cake or confectionery for VAT purposes.
Are you taking advantage of Farmers’ Averaging tax relief?
Farmers’ Averaging is a tax relief which can be applied to farming profits as long as certain conditions are met.
When does grain storage qualify for tax relief?
An area that causes confusion is grain storage because at first glance, it appears to fall onto the excluded lists. However, this is not always the case.
How secure is Xero cloud accounting software?
Harry Hale takes a look at the most common questions that people ask when looking to switch to cloud accounting software such as Xero.
Are your farm workers employed or self-employed?
Relief milkers, seasonal tractor drivers and part-time grooms often fall into this grey area of the “gig economy”.
Restricted tax relief for landlord finance costs
The 2019-20 tax year is the third year of a four year phased implementation of the Chancellor’s strategy to restrict the tax relief residential landlords gain on finance costs.
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Our accreditations
We are proud to be recognised as a Top 100 Accountancy firm in the Accountancy Age 2023 survey. We are longstanding and active UK200Group members, and affiliate members of AGN, an international association of accountants. We have One Star Best Companies status, reflecting our commitment to being a great workplace. As a Xero Platinum Partner, we are dedicated to supporting our clients in online accounting.
Banbury
Countrywide House
23 West Bar Street
Banbury
Oxfordshire
OX16 9SA
T: +44 (0)1295 250401
Birmingham
Kettering
2700 Kettering Parkway
Kettering Venture Park
Kettering
Northamptonshire
NN15 6XR
T: +44 (0)1536 646000