Making Tax Digital has been described as the biggest change in the way tax is assessed and collected in the UK in a generation with the Treasury allocating some £1.3bn to implementing it . This massive project was due to start in April 2018 with compulsory online filing of quarterly returns for many business owners and private landlords.
The South West tourism and leisure industry looks set for increased visitors throughout the 2017 holiday season, with more holidaymakers planning to stay in the UK rather than travel abroad. According to research carried out by Barclays Bank, over a third of British holidaymakers are planning to holiday at home this year, as the weakening pound and the risk of terror attacks deter foreign travel. In addition, the weather forecast for the summer is looking very promising.
This month our we talk to Stuart Pedlar, a Chartered Certified Accountant based in our Barnstaple office.
What is you role within Thomas Westcott?
My primary role is as a Manager at our Barnstaple office, working for a portfolio of clients throughout a range of business sectors from new self-employed persons to long established limited companies. Most of my work involves ensuring completion of Annual Accounts, Tax Returns and VAT, but can also include specific special projects. Previously I have also been involved with both Charity and Audit work.
It is often the case that as a company evolves it can end up with multiple separate trades or could have established a significant property portfolio alongside its trading activities. This diversification in assets and trading activities can be vital for the growth of the business but can create its own problems, some of which could be:
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