TODAY’S HEADLINE

Great news for SMEs…

On Tuesday 26th August, the Government is opening up the Growth Vouchers Programme to more small businesses and encouraging them to get strategic advice to help them grow. From this date, businesses who wish to apply need to: Be registered in … [Read More...]

Great news for SMEs…

On Tuesday 26th August, the Government is opening up the Growth Vouchers Programme to more small businesses and encouraging them to get strategic advice to help them grow. From this date, businesses who wish to apply need to: Be registered in England Have less than 250 employees Be actively selling goods and/or services Have a turnover no greater than €50m or £45m Own 75% or more of their business Growth Vouchers Promise Payment terms (also from 26th August) Growth Vouchers commit to pay you within 10 days of submitting your claim. For small businesses, we’re also introducing flexible payment options so they can pay their half of the voucher directly to the provider and no longer need to find 100% of the cash and claim it back. Please see the terms and conditions for suppliers, for more information. If you have any questions, please contact: growthvouchersbis@bis.gsi.gov.uk Some happy Growth Vouchers Users….. Snuggle Sacs “The process to apply for a … [Read More...]

Great news for SMEs…

On Tuesday 26th August, the Government is opening up the Growth Vouchers Programme to more small businesses and encouraging them to get strategic advice to help them grow. From this date, businesses who wish to apply need to: Be registered in England Have less than 250 employees Be actively selling goods and/or services Have a turnover no greater than €50m or £45m Own 75% or more of their business Growth Vouchers Promise Payment terms (also from 26th August) Growth Vouchers commit to pay you within 10 days of submitting your claim. For small businesses, we’re also introducing flexible payment options so they can pay their half of the voucher directly to the provider and no longer need to find 100% of the cash and claim it back. Please see the terms and conditions for suppliers, for more information. If you have any questions, please contact: growthvouchersbis@bis.gsi.gov.uk Some happy Growth Vouchers Users….. Snuggle Sacs “The process to apply for a … [Read More...]

If you have clients providing management services you may wish to review their contracts

The African Consolidated Resources (ACR) decision could have implications for UK holding companies. The facts of the case are familiar where one group company supplies management services to another, the twist comes in the tribunal’s line of reasoning that neither ACR or HMRC appeared to propose. Their interpretation of “consideration” was the point that gave rise to this note. The tribunal concluded that “the flat fee of £10,000 a year payable to ACR by its subsidiary was not consideration for the management services provided because there was insufficient evidence of an economic link between the value of the management services provided by ACR and the price paid by the subsidiary”. This rather unexpected conclusion raises a number of interesting and potentially wide-ranging points, which may well give HMRC further ammunition in their long-running fight against VAT recovery by holding companies. Management services are often calculated on a flat rate basis or a proportion of a … [Read More...]

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