Free Office Hours Clinic at TechHub

Davis Grant specialises in helping Tech companies. Partner Steven Sandford has a particular passion for helping entrepreneurs to scale their business by securing funding and getting cash from the taxman in the form of R+D Tax Credits.

It’s no wonder Davis Grant are the first choice for startups. I recommend them at every opportunity.
Jozef WallisBooxscale
When you need a strong support structure for your startup, look nowhere else.
Frank MeehanSmartUp

We are trusted by the community and host regular clinics and workshops at TechHub. The next “Office Hours” for TechHub’s community of tech start-ups are on Thursday 4th May 2017.

Get free help and advice from our experts regarding:

  • R+D Tax Credits
  • Raising funding with SEIS and EIS schemes
  • EMI share incentive plans
  • Reporting and forecasting for investors including run/burn rate
  • KPI and Business Goal setting

Get our Specialists in Tech factsheet…
Includes a case-study of how we supported a tech entrepreneur and secured them a R+D Tax Claim of just over £80,000!

Support Neil on his Charity Cycle Rides

Neil Driver, Partner at Davis Grant is setting himself another physical challenge and fundraising for Prostate Cancer UK. We hope that you will join our entire team in supporting him by making a donation here today.

No matter how small all donations will help him to hit his target!

Neil Says…

This summer I am going to challenge myself by cycling 3 separate road bike rides, each over 100 miles in a day. Each day will be hard work, plus all the training beforehand!

I am thankfully recovered and clear of my prostate cancer but many are not as lucky as I was. Thank you in advance for your generous support.

 

Read Neil’s full appeal and learn about the rides which include the Tour de France’s Grand Depart, Dunwich Dynamo and Prudential London 100…

Learn More

Prostate Cancer UK fights to help more men survive prostate cancer and enjoy a better quality of life. Thank you for your support.
Donate Now

You can find details of Neil’s previous challenges here on the blog.

Testimonial from Paul Henry Architects

Our partner Jay Gandesha was amazingly grateful to receive the below comments from Paul Henry on our work. It has been a pleasure to support this multi-award winning Architect who has been featured on the BBC and Central Midlands ITV as well as in various publications.

Jay has added significant value to our business in just one year of working together.  His acumen, insight and foresight as well as practical, constructive guidance has been an invaluable asset.

Paul’s testimonial in full…

It is a privilege to be able to write this testimonial for Jay Gandesha of Davis Grant Ltd and staff.

I first met Jay having newly moved offices to Wanstead and found out that there was a networking group called: the Wanstead Business Network holding meetings locally, which I sort out and attended.

It was during one of Jay’s thoroughly engaging “One Minute Presentations” (passing on relevant and pertinent information regarding accounting principles, world financial matters and business nuggets in general to the attendees) that he first caught my attention.

Upon invitation, Jay visited my office and in just one meeting we realised we needed his experience and expertise and signed up for their “On Track” service, which meant we had Jay attending our quarterly director’s strategic meetings.

After just a few sessions, it became increasingly apparent that our current Accountants were not supplying a service commensurate for our business needs or growth and we needed to make a change: this led to the eventual full engagement of Davis Grant to manage all our Accounting affairs.

Jay has added significant value to our business in just one year of working together.  His acumen, insight and foresight as well as practical, constructive guidance has been an invaluable asset.

This testimonial does not just relate to Jay, but having also met the wider team of Davis Grant can testify the same ethos of excellence and knowledge runs throughout the entire organisation.

We are looking forward to a very long, very successful and mutually beneficial relationship with Davis Grant.

Paul Henry
Managing Director, Paul Henry Architects

Don’t just take Paul’s word for it… read more on our What Our Clients Say page or get in touch to learn how we can help you!

Happy New Year – April Tax News

Happy New Tax Year and welcome to April’s Tax Tips & News, our post designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

This month’s topics

  • Apprenticeship Levy
  • Change to Class 4 NIC rate reversed
  • Registration for tax-free childcare opens
  • Increase in the cash basis threshold
  • April questions and answers
  • April key tax dates

Please contact us for advice on your own specific circumstances. We’re here to help!

Read More

Let us know the value of property owned by your company

There are important tax implications of having an up to date value for the property that is owned by your company (or partnership which has a corporate partner). This information is used by us to complete returns for HMRC that determine how much or little tax you need to pay.

For our team of tax experts to best help you, provide information to us BEFORE it is required for use in Tax Returns or Accounts. We may have to apply for reliefs or check eligibility with HMRC and this takes time!

We want to make sure you don’t incur any penalties for late or incomplete submissions and this information may be crucial for our assessment of payment of ATED…

Read More

Beat the Landlord Tax Rises – Event Summary

This past Monday all the Davis Grant partners gathered at the local branch of NatWest to get local property investors up to speed on critical tax changes that amount to a rising tax bill for Landlords.

The event was well attended with over 20 attendees who learnt about the key topics from Davis Grant’s own Barry Chernoff:

  • How the restriction of Mortgage Interest Tax relief may seriously reduce income from your Buy-to-Let properties.
  • Should you consider running your buy-to-let business as a company?

Also covered…

  • The additional Stamp Duty of 3% introduced to discourage buy-to-let investors.
  • Capital Gains Tax on residential property disposal.
  • How the removal of Wear and Tear allowance will affect how you manage your furnished properties.

Read More

Two Weeks Until the New Pound Coin

Perhaps we’re a little strange in our enthusiasm for the new pound coin… but did you know that it’s just two weeks until it’s introduction?

From March 28th you can accept both old and new coins from your customers. Make sure to train your staff on the new coin and change your procedures to handle them. For example, banks will want old and new coins in separate bags!

Businesses across the UK who handle cash have been informed of the need to prepare for the introduction. Many will have upgraded their machines to accept the new £1 coin, however, not all machines will work with the new coin from the date of introduction.  Please talk to the equipment owner if you have any questions.

The old coin will not start to be phased out until October from which point you won’t have to accept them and shouldn’t be distributing them,

For more information on the new coin, supporting materials and guidance on how it may affect your business…
Visit The Royal Mint www.thenewpoundcoin.com

Your Budget Report Available Now

Important tax news on Dividends and National Insurance. Get our full report on the key announcements made by the Chancellor.

  • Dividend Allowance
    Tax-free dividend allowance to reduce to £2,000 from April 2018
  • Self-Employed NICs
    Class 4 NICs to rise to 10% in April 2018 and 11% in April 2019
  • Making Tax Digital
    Quarterly reporting delayed by one year for businesses with turnover below VAT threshold

Explore these issues and more in our PDF report and if you have specific questions please get in touch with your personal team of experts

Spring Budget 2017 This Week

The Chancellor Philip Hammond is preparing to deliver his first and last Spring Budget – the budget will be moved to Autumn in future. He has made clear that the current government will be rejecting previous austerity measures but The Institute for Fiscal Studies (IFS) is warning of sharp public sector cuts and taxes reaching their highest level in 30 years.

Self-employed people could see their tax increase to bring them more in line with those taxed by their employers. Hammond is also expected to announce a £500million boost to British science and innovation to fund a hi-tech vision of the country.

The Spring Budget this Wednesday 8th March 2017

We will be watching and our full guide to the key announcements will be available the following day!

Stay informed with key tax and business news and receive our full report by subscribing now!

 

Changes to the VAT Flat Rate Scheme

From 1st April 2017, H M Revenue & Customs will increase the flat rate percentage for “limited cost traders” to 16.5% after an announcement by the Chancellor of the Exchequer at the Autumn Statement on 23 November 2016.

This was made to increase tax revenues in the face of what the government views as abuse of the scheme.

What is a limited cost trader?

A limited cost trader is defined as one whose VAT inclusive expenditure on goods is either:

  • less than 2% of their VAT inclusive turnover in a prescribed accounting period
  • greater than 2% of their VAT inclusive turnover but less than £1000 per annum if the prescribed accounting period is one year (if it is not one year, the figure is the relevant proportion of £1000)

Goods, for the purposes of this measure, must be used exclusively for the purpose of the business but exclude the following items:

  • capital expenditure
  • food or drink for consumption by the flat rate business or its employees
  • vehicles, vehicle parts and fuel (except where the business is one that carries out transport services – for example, a taxi business – and uses its own or a leased vehicle to carry out those services)

What does this mean to me?

If you currently use the VAT Flat Rate Scheme, it may no longer be the most tax efficient VAT method for your business. Whilst it is your responsibility to ensure that VAT returns are completed correctly, we are here to help.

If you are on this scheme, please contact us and we will calculate the best approach for your business.

If you have any questions or further concerns – please get in touch with our friendly team…
www.davisgrant.co.uk/contact