Ludicrous expense claims

Ludicrous expense claims

HMRC have released a list of the most unusual items which have been added to expense claims.

Included items were:

• holiday flights to the Caribbean

• luxury watches as Christmas gifts for staff – from a company with no employees

• international flights for dental treatment ahead of business meetings

• pet food for a Shih Tzu ‘guard dog’

• Armani jeans as protective clothing for painter and decorator

• cost of regular Friday night ‘bonding sessions’ – running into thousands of pounds.

• underwear – for personal use

• a garden shed for private use – plus the costs of the space it takes up in the garden

• betting slips

• caravan rental for the Easter weekend.

Ruth Owen, Director General of Customer Services at HMRC, said:

“Year after year we receive a number of ludicrous expense claims, ranging from international holiday flights to expensive designer clothing, which we would never uphold. Why should the honest taxpayer pick up the bill for others? HMRC will only accept those claims which are genuine, such as legitimate travel expenses or the cost of tools for the job.”

Share This:

What small businesses need to do for Digital Tax

What small businesses need to do for Digital Tax

The recent Budget announcement from Philip Hammond on the Digital Tax strategy has meant that for some, the start date has been delayed until April 2019. Those affected will have a sales turnover of up to the VAT threshold (probably 85K by 2018/19), but for those who have sales exceeding the threshold, April 2018 will still mark the commencement of using the new digital tax system.

This new system has many benefits, including not having to wait until the end of the tax year to find out how much you owe, however, there will also be additional responsibilities. You will have access to a personal online account which requires manual updating and will alert you each time any actions need addressing. Online support will be available in the form of webchat and messaging services.

But first, you will need to get ready. We can help you to prepare and we can guide you through the process from start to finish as well. It is vital that at this stage you consider your infrastructure and how it can be moved to online. If your business does not already make use of an online accounting solution, like QuickBooks, then it would make the transition much easier if you start to use one, as this will be the new route in which data will be collected and submitted to HMRC.

The new digital strategy will be implemented in stages from April 2018 to 2020, giving businesses one year to prepare to move to online accounting. Regardless of this additional time, we strongly feel the early adopters of online accounting software will be better able adapt to this new process.

HMRC will begin testing the digital reporting feature with small businesses before the end of the year, providing us with some time to help you get your systems ready, so you can spend your time managing your business rather than worrying about your tax planning and compliance.

If we can be of any further assistance, please don’t hesitate to get in touch.

Share This:

myWK Launches

myWK Launches

Wilkins Kennedy LLP has launched the myWK service alongside Intuit QuickBooks, after it became clear that cloud-based accountancy services could be extremely beneficial to many owner-managers, particularly for the growing business community in East Kent.

myWK helps businesses manage invoicing, produce effective cash flow forecasts and provides an easier way to calculate VAT returns. The service is automated, so it saves time compared to manual bookkeeping entries – plus it is more secure compared to traditional desktop or paper-based solutions.

Wilkins Kennedy’s Sandwich office in Discovery Park has experienced tremendous growth since its opening in 2014 and has proved to be well-placed in the market to attract several clients in the technology sector. The growing improvement of cloud-based offerings, particularly to the business community, made the right fit for myWK.

Simon Woodhams, Head of Cloud and Accounting Software at Wilkins Kennedy, said: “The area and offering is thriving, but plenty of our clients say that saving time and resources are major factors for their survival. Wilkins Kennedy developed this service with Intuit to ensure seamless and simple integration, so that business’ bookkeeping runs easily alongside their day-to-day service delivery – freeing up their time to focus on their business.”

Dominic Allon, Vice President and Managing Director for QuickBooks in Europe said: “At Intuit, we have believed for a long time that cloud services, like QuickBooks, are the most effective way for businesses to manage cashflow, drive efficiencies and ultimately be more successful. We are thrilled to be working alongside Wilkins Kennedy, one of the thought leaders in the accounting space, who carry the same ethos around putting businesses first.”

Share This:

Our Twitter Feed

RT @Si_Woodhams: Great morning presenting our first @wilkinskennedy South East Region Making Tax Digital breakfast. Great vibe in the room…
h J R
Our new @QuickBooksUK hub is now live! The place to go for #training #support and more! https://t.co/XsBazZy9DKhttps://t.co/0rdN5lV5U4
h J R
We've been a bit quiet lately - here's our latest blog post on how to help raise finance for your business… https://t.co/La55FEs1Ah
h J R
Our latest blog is now live - we're talking all things #GDPR https://t.co/q5UoXMQAlW #security #data #cloud… https://t.co/hotDeMsNAA
h J R
Our latest blog is now available for your reading pleasure! https://t.co/XYFB6WrvTe #business #businesstips #SMB… https://t.co/B5onMpDg2z
h J R
Our app has had a cheeky update over the New Year - now with Currency converters and much much more! #app #currency https://t.co/Ww920klj2g
h J R
Our latest #Blog is live - this month we discuss #Apprenticeships https://t.co/zSF07oe0SD #smb #business… https://t.co/r8vGwQXioz
h J R
Our #quoteoftheday is courtesy of @RealJoeNamath - you should always have fun when running your business!… https://t.co/rSKierOIVv
h J R