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Latest news for Business Tax Centre’s products and services

Tax advisers to send warning letters on taxing offshore assets

Posted on by Steve O'neill

Offshore Assets

HMRC has published guidance on a letter which tax advisers and financial institutions may need to send to clients who have income or assets overseas, explaining its wider powers to exchange tax information with other jurisdictions and urging anyone who is in doubt about their offshore tax position to seek advice

Accountants and tax advisers should also have regard for companies they act for that have an offshore or overseas shareholding, especially from recognised tax havens such as BVI or the Channel Islands. Advisers should be aware that this type of company may not have been declared to them. This again will extend to clients who may own overseas properties through overseas companies. Continue reading “Tax advisers to send warning letters on taxing offshore assets”

BTC Newsletter June 2016

Posted on by Steve O'neill

BTC Company Software

Changes to the incorporation and form filing software

As from 30 June 2016 PSC’s must be provided upon Incorporation by the company, unless they have reason to believe that they don’t have any PSC’s, which will be rare.

The order form been modified to cater for these changes with the inclusion of: ‘Legal Person’, PSC Officer role and Nature of Control questions.

The software suppliers have sought legal advice to ensure that the system complies with the new legislation but we understand that this may not necessarily result in the most practical of a user interface, they have already taken steps to improve the user experience and there will be further updates to the order form throughout July and August.

Continue reading “BTC Newsletter June 2016”

Christmas and Festive Season Opening Times

Posted on by Steve O'neill

Christmas and Festive Season Opening Times

Wishing you all a happy seasonal break! It is that time of year again, when myself and Irma actually get a week off! Of course our online company formations and customer AML verification searches do not go off, they run 24 hours a day, 365 days a year.

The various Companies House’s though will be open or closed on the days listed below, of course there will be no company filings processed during these times.

  • Thursday 24 December All offices open, but earlier closure at 4pm
  • Friday 25 December All offices closed
  • Monday 28 December All offices closed
  • Tuesday 29 December All offices open
  • Wednesday 30 December All offices open
  • Thursday 31 December All offices open
  • Friday 1 January 2016 All offices closed
  • Monday 4 January 2016 All offices open (apart from Edinburgh which will be closed)

At BTC our last of despatch of physical documents to get there before will be on Friday 18th of December. Of course online PDF’s generated by the systems will be delivered automatically by email as normal.

During week of the 21st, 22nd and 23rd of December there will be some telephone support and full email support. On Christmas Eve we will have some limited email support.

The following week, the 28th is a bank holiday and the 29th 30th and 31st we will have email support and but no telephone support, we are actually having a few days break.

Full service will be back to normal on Monday January 4th 2015, although it is a bank holiday in Scotland.

BTC Business Essentials

Posted on by Steve O'neill

Claim up to £250.00 cash back per company registration with Business Essentials

In conjunction with our business partnerships we can offer you a choice of business essentials products and services add-ons as part of your formation order, some come with free offers and discounts but most are offering a cash back deal, up to a large £250.00 per order. Continue reading “BTC Business Essentials”

Financial Partnership Programme

Posted on by Steve O'neill

New partner services

Your clients look for their professional advisers to be almost a ‘one stop shop’, advising on many aspects of a business start-up or growth beyond that of accountancy and taxation advice. Many clients think it is easier to take a patch work approach to their business start-up, go to Companies House directly not knowing of any additional compliance to the Companies Act that must be undertaken, then once that is done start to find a bank, look for insurance, and possibly some additional finance sources. All this is time consuming for the client. Continue reading “Financial Partnership Programme”

Annual Return Reminders

Posted on by Steve O'neill

Reminder notices for Annual Returns and Accounts filing

The Small Business, Enterprise and Employment Bill is currently making its way through Parliament and should receive Royal Consent in early 2015. The bill contains a number of measures which together represent significant change for customers from a transparency point of view.

You should also bear in mind the PSC Register that is People with Significant Control which will be a mandatory public register. Continue reading “Annual Return Reminders”

BTC Christmas Opening Times

Posted on by Steve O'neill

Christmas and Festive Season Opening Times

That time of year again, when myself and Irma actually get a week off! Of course our online company formations and customer AML verification searches do not go off, they run 24 hours a day, 365 days a year.

The various Companies House’s though will shut on Christmas Day, Boxing Day and New Year’s Day, and Edinburgh also closes on the 2nd of January. They will also close early on both Christmas Eve and New Year’s Eve.  Of course there will be no company filings processed during these times.

At BTC our last of despatch of physical documents to get there before will be on Friday 19th of December. Of course online PDF’s generated by the systems will be delivered automatically by email as normal.

During Christmas week there will not be telephone support on the 22nd, 23rd and Christmas Eve. We will have some limited email support.

The following week, 29th 30th and 31st we will have email support and some telephone support, this will also apply to the 2nd of January, since Scotland is on holiday still.  

Full service will be back to normal on Monday January 5th 2015.

Season’s greetings to you all.

Steve and Irma O’Neill

 

Expert Witness Money Laundering Regulations

Posted on by Steve O'neill

Steve O’Neill, a Director of Business Tax Centre Limited, is embarking on membership and qualifications for becoming a recognised expert witness for Compliance with the Money Laundering Regulations.

Steve has chosen The Academy of Experts at 3 Gray’s Inn Square, London. The two day course on the 16th and 17th December 2014 covers the range of skills needed to be competent in this area, from report writing to court room skills.

The Expert Witness Foundation Course is an intensive study through both the theory and more practical aspects of being an Expert Witness. The course concentrates on the Expert’s Report and the Role & Responsibilities of the Expert with a brief introduction into the Procedure Rules (CPR & CrPR) and preparation for going into court.

Disciplinary Tribunal

Expert witness works complements the works Steve already undertakes as a member on the Disciplinary Tribunal of the Association of Accounting Technicians. Stephen has accumulated over fours years’ experience in this roll.

Companies House Outage

Posted on by Steve O'neill

Important Message: Companies House Outage

Please note that Companies House are still experiencing problems since Saturday morning and at this moment in time we do not have an exact time when they will be back up and running, but this is what we do know.

Companies House are currently running a data backup to restore their systems back to how they were before this outage which started on Saturday. They are estimating this backup will not completely until sometime tomorrow morning (Thursday).

All form submissions which are sent to their gateway are being held in a queue and will be processed when their systems are back up and running, but until that time we will continue to accept orders and submissions on our website and form processing and submit them to the Companies House hold queue.

Please note, as I’m sure you are aware, this is completely outside of our control and we are unable to advise on any exact resolution time frame or by pass their hold queue. We are monitoring our systems and maintaining a dialogue with Companies House. As soon as their systems are back up and running our system will automatically start collecting responses from them as soon as they are available for collection.

Guidance on the purchase of own shares by a company

Posted on by Steve O'neill

HMRC have published a new help sheet for advance clearance applications in relation to the purchase of own shares by unquoted trading companies.

The help sheet, which is meant for use in straightforward situations, explains the conditions that must be met before a payment by a company to purchase its own shares can be treated as an exempt distribution. It also provides details of how a company can make a clearance application in connection with the purchase of own shares legislation.

The help sheet also contains two excellent clearance application checklists, one for purchase benefitting a company’s trade and one for purchase in connection with IHT

The help sheet is available from HMRC.

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