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Tis the season… for insolvency?

David Tann

David Tann

It isn’t just the warmer winter weather that retailers have been feeling this season as reports of widespread tough trading in the lead up to Christmas has cast a shadow over the trading landscape. You might not think that the …

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Insolvency | Retail

Latest Press

London accountant wins Young Dealmaker of the Year award

Top 20 accountancy firm, Wilkins Kennedy, is pleased to announce that Dan Nixon, who is based in the London Bridge office, has won the award for Young Dealmaker of the year at the Insider South East Dealmakers awards. Dan Nixon, who is a Partner and Head of Transaction Support at WK Corporate Finance – the firm’s corporate finance arm – attended the awards on Thursday 4th February 2016. The event was attended by more than 370 of the region’s top professionals, with the awards based on achievements over the last 12 months. Nixon won his award with his involvement with several deals in the region in 2015 which the judges felt demonstrated his excellent reputation for quality, commercial advice.

Tax Dates

6 April 2016

Single-tier state pension replaces the basic and additional state pensions.

6 April 2016

Annual allowance of £40,000 for tax relief on pension savings in a registered pension scheme is tapered down to a min imum of £10,000 for individuals whose annual income is more than £150,000 (including their own and their employer’s pension contributions).

6 April 2016

Lifetime allowance for pension savings reduced to £1,000,000.

WK Tax Factor

Prompt Payment Discounts

From 1st April 2015 VAT law in connection with prompt payment discounts is changing. The changes will not only affect those businesses that offer prompt payment discounts to customers but also those who receive invoices offering a prompt payment discount.

The current VAT legislation is relatively simple with the amount of VAT declared on the invoice as well as the amount of VAT the recipient of the supply can treat as input tax being calculated on the discounted price.

The amount of VAT does not change even if the prompt payment discount is not taken up by the customer.  - See more 

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