Posts by Julia

Tax Enquiries We are fortunate not to have to deal with many enquiries from our existing client database. We would like to think that largely this is because our client tax returns are accurate. Most of our enquiry work, therefore, is done via recommendation and normally after the new client had dug themselves into a…

Director’s Loans We took on a media client from a larger firm as our client felt they were not receiving the advice they needed and were concerned at the costs. They explained that the partner that looked after them was charming and took them to lunch once a year. Whilst this was always to a…

The Chancellor’s Winter Economy Plan From the 1st November 2020, the government is introducing a new Job Support Scheme which is due to run for 6 months in order to support employees and ideally keep them in work where otherwise they may have been made redundant. The government’s scheme will allow employees to work fewer…

Home Office Having started in practice in 1997 with very little notice the spare bedroom of a small 3 bed semi was our first home office. With the arrival of a second child in 1998 it was clear something had to give! We found a bungalow that someone had put a full size snooker room…

Capital Gains Tax Expertise We assisted a client who had overseas trust assets of nearly £1,000,000 where the repatriation of the funds had been handled by a large firm of accountants. The capital gains treatment they applied was on a simple remittance basis so fully charged in that year. This resulted in a gain of…

The Chancellor’s Summer Statement I think I should say that the statement is full of good news about the help that the government is providing to boost the economy. Where we can add some clarity I will deal with each measure in turn. The Job Retention Bonus will pay £1,000 to an employer for furloughed…

Coronavirus latest government support Further to my blog on Monday a number of things have been clarified and there has been the announcement of a new scheme similar to the CJRS to help the self-employed. Firstly it has been clarified that those operating their own company and being paid by a combination of salary and…

Coronavirus Job Retention Scheme The first question to answer is what is Furlough! For some reason we have used an American word for sabbatical. The second question is will my employees be entitled to the 80% of wages proposed by the chancellor. Detailed rules are not in place at the time of writing and may…

Budget 2020 The first budget of the new majority Conservative government was full of detail as ever some positive and some less so. The first significant issue was in respect of Capital Gains Tax (CGT) where the change in the Entrepreneurs Relief lifetime allowance from £10 million to £1 million will impact on some deals…

IT Savvy Old Fashioned Accountants At Bolton & Co we use up to date accounting software in addition to an e-signature signing platform called Iris Openspace. This allows our clients to sign documents from the comfort of their own home without having to worry about visiting us to sign or having to pay for postage,…