Bishop Fleming Chartered Accountants Website Feed Bishop Fleming RSS Feed <![CDATA[Blog post - Partial victory for Furnished Holiday Letting businesses]]> Following our campaign against the previous Government’s proposed repeal of the special Furnished Holiday Letting (FHL) tax rules, we are very pleased that the June Budget announced the repeal will not go ahead.

HM Treasury have instead issued a document for consultation, proposing to tighten the following conditions for relief, with effect from April 2011:

  • Increasing the minimum period over which a qualifying ]]>... <br><br><b>Click on the post title to read the full article.</b> Wed, 25 Aug 2010 13:00:11 GMT <![CDATA[Blog post - The future ain’t what it used to be]]> We are entering a period of unprecedented change. Fiscal cuts, increased taxes, rising energy and food bills, job uncertainty and economic gloom. To quote the American baseball player, Yogi Berra: "the future ain't what it used to be". Indeed it isn't, Yogi!

    However, change can be good - despite the fact that there will be less funding to assist businesses, what funding is ]]>... <br><br><b>Click on the post title to read the full article.</b>     Fri, 20 Aug 2010 12:31:44 GMT     <![CDATA[Blog post - Increase in Director Disqualifications and Cost Savings at the Insolvency Service]]> More Directors facing Bans

    The past year to March 2010 has seen an increase in the absolute number of company directors facing disqualification proceedings.
     
    2009: 1,852

    2010: 2,169

    This represents a staggering 17% rise from the previous March end data as taken from Official Sources.

    Anecdotally, it would appear that a good many of these disqualifications are as a consequence of some directors making last ditch ]]>... <br><br><b>Click on the post title to read the full article.</b> Mon, 09 Aug 2010 16:05:02 GMT <![CDATA[Blog post - Turnaround & Recovery]]> Although the official figures suggest that the UK has emerged from recession, for many businesses it feels as though nothing has changed. Indeed, the pronouncements by the new Government suggest that the remedial actions needed to restore the economy – higher personal taxes, reduced public spending and benefits – may well mean that financial pressures on businesses will increase before things get better.

    Experience and history ]]>... <br><br><b>Click on the post title to read the full article.</b> Mon, 09 Aug 2010 15:18:11 GMT <![CDATA[Blog post - Under Pressure]]> The past 12 months' trading conditions have been tough for Owner Managed businesses.

    It would appear that retail, construction and business-to-business services have been most affected by the recession.

    What has been interesting is the fact that the recession has not seen wholesale business failures, as witnessed during the early to mid 1990s. This is not to say that pressure is not building up within the system.

    Chaos ]]>... <br><br><b>Click on the post title to read the full article.</b> Mon, 09 Aug 2010 12:13:49 GMT <![CDATA[Blog post - Dirty Words]]> Over the past months the pre pack has come under much adverse scrutiny with accusations of skulduggery practised by directors and Insolvency Practitioners ("IPs") alike to the detriment of independent creditors.

    What is a Pre Pack?

    Think of it as a pre packaged sale where the sale of all or part of a company’s business or assets have been negotiated with a purchaser ]]>... <br><br><b>Click on the post title to read the full article.</b> Mon, 09 Aug 2010 12:10:03 GMT <![CDATA[Blog post - 2010: A Happy New Year]]>
    The past year or so has been interesting to say the least.  The economy is still in recession; the ratio of total household financial debt is just beginning to be recognised in its entirety and beginning ]]>... <br><br><b>Click on the post title to read the full article.</b>     Mon, 26 Jul 2010 15:32:00 GMT     <![CDATA[Blog post - Economic Messages]]>
    Apparently, this upward revision is partly due to the boost from quantitative easing, firmer house prices, and improved consumer confidence together with a pick-up in world trade.
    ... <br><br><b>Click on the post title to read the full article.</b>     Mon, 26 Jul 2010 15:27:04 GMT     <![CDATA[Blog post - Same Old Story?]]>
    A truism which is especially true of directors of failed companies and bankrupt business people, who when given a second opportunity replicate past behaviours leading to the same conclusion.
     
    With economists hypothesizing of a ]]>... <br><br><b>Click on the post title to read the full article.</b>     Mon, 26 Jul 2010 15:24:51 GMT     <![CDATA[Blog post - Important Changes to Filing Accounts and Tax Returns - XBRL]]> From the 1 April 2011, HMRC will only accept accounts and Corporation Tax returns in a new format called XBRL - which means that accounts and returns prepared in Word, Excel and many other software packages won’t be accepted!

    XBRL, which stands for eXtensible Business Reporting Language, is a standard format and will allow HMRC to store information in a way that makes it easier to ]]>... <br><br><b>Click on the post title to read the full article.</b> Mon, 05 Jul 2010 12:31:05 GMT