Accounting Roundup : Business news, updates and advice – May 2018

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15 May 2018

Welcome to May's Accounting Roundup where we explore the latest real world and local news, tax updates, financial and business advice and accounting matters.

General

Northern airports have come together to support Transport for the North’s draft Strategic Transport Plan and are inviting the public to comment on the plans.

The 30 year plan is the first of its kind and outlines how transport connections across the north of England need to be transformed by 2050 to drive growth and close the economic gap between the north and the rest of England.

The Leeds Digital Festival, held over 2 weeks in April, saw the digital and tech sector in Leeds put on 170 events, in around 60 venues, attracting over 500 speakers and 20,000 attendees! Businesses from across the region were involved with colleagues and customers from all over the world.

Tax

The taxman’s record in dealing with taxpayer disputes is being investigated by MPs. The Treasury sub-committee inquiry will focus mainly on disputes over tax returns, but also other situations where taxpayers disagree with HM Revenue and Customs’ calculations of what is owed.

The new "sugar tax" was introduced on 6 April 2018. The tax is a surcharge on sugary soft drinks which have a certain amount of sugar.

The levy will tax the soft drinks industry for total sugar content over 5g per 100ml and a higher level for drinks with 8g per 100ml or more.

The main reason for the tax is to reduce obesity in the hope that the increased cost will stop people from buying fizzy drinks as often, and therefore consuming less sugar. Celebrity chef Jamie Oliver has been a keen advocate of the sugar tax and campaigned as part of Action on Sugar.

If you or any of your contacts require any tax advice simply contact us on 0113 398 1100 or email leeds@hwca.com

International

Geneva Group International recently held their latest European Regional Conference in Berlin. Our membership of Geneva Group and links with GGI contacts enables us to put clients in touch with top quality advisors throughout the world, who we have personally met and can recommend.

Read more : Geneva Group International

Pensions

Read our series of blogs on pension and retirement options, the pros and cons of these different options and how they may impact on you.

We recommend our clients to Tilney, one of the UK’s leading private client investment and wealth management company who provide top quality, solid and practical pensions advice You can sign up to their newsletter and financial planning magazine.

For pension and retirement advice, or to book a no obligation review, please contact Charles Coade direct on 0113 224 5544 or email charles.coade@tilney.co.uk or via our Leeds office on 0113 398 1100 or email leeds@hwca.com

We also support a wide range of businesses with online Payroll outsourcing. Our managed payroll services make all necessary submissions to the tax authorities on your behalf.

If you feel you have comments, questions or thoughts on our Accounting Roundup please let us know – honest feedback is always welcome!