MCN LONDON MOTORCYCLE SHOW SHINES

February 22nd, 2019.

The 2019 MCN London Motorcycle Show welcomed a crowd of 40,411 visitors; an increase over 2018. With 19 manufacturers displaying the latest models, free live action racing, exotic customs and rare classic machines, the capital once again played host to a celebration of all things motorcycling suitable for the whole family.


Alongside the modern machinery, the Bonhams Classic Zone played host to a spectacular collection of rare machines, many of which were also up for grabs.

Fans of custom machines were treated to a spectacular display in the Custom Cafe Racer Zone styled by Spada as some of Europe’s leading builders brought their creations to the capital. The TomTom Adventure and Travel Zone proved popular with...
 
 
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DITCH PAPER RECEIPTS - AS VAT GOES DIGITAL

February 20th, 2019.

Senior Decision Makers in finance and accounting admit to not being the best at keeping receipts, as 65% confess to having lost them, according to a new YouGov poll out yesterday.


The poll run by YouGov for HM Revenue and Customs (HMRC) also found that 92 percent of senior decision makers personally bank online, almost two thirds (62%) support all tax accounts being digitalised and one in four (25%) working [stop]in a small business are spending over 10 hours a week on administrative tasks.

HMRC is inviting businesses to reduce time spent on paperwork and join its digital revolution by testing the new Making Tax Digital (MTD) service for submitting VAT returns.

Most businesses above the VAT threshold will need to keep their records digitally and submit their VAT return using compatible software when MTD is introduced for periods starting on or after 1 April 2019.

In practice, the vast majority of businesses won’t need to send their first MTD return until August at the earliest, but if they aren’t already keeping their records digitally they will need to start doing so. HMRC is encouraging more businesses to get involved early by getting software and starting to test the service now.

Mel Stride, Financial Secretary to the Treasury, said: “Anything that helps businesses to manage their tax more easily so they can focus on what they do best - innovating, expanding, and creating jobs and profits - is what every modern business needs. In a world where customers and suppliers are already banking, paying bills and shopping online, it makes sense for HMRC and businesses to bring tax affairs fully into the 21st century.

“Going digital with business records and taxes is the next step to businesses getting more control over their business and their finances.”

Theresa Middleton, Director of the Making Tax Digital for Business Programme, said: “There is no change to ‘what’ information is provided through MTD, just ‘how’ it is recorded, generated and provided. We want to help businesses be ready for the changes which kick in for VAT periods which start on or after 1 April. We’ll have written to every business required to join this year by the end of February, but even back in December over 80% of them were aware of the changes they need to make and the vast majority of those are already preparing. More than 16,500 businesses have already signed up to do their VAT digitally – why don’t you join them?”

Richard Balson of R J Balson & Son Butchers based in Bridport, Dorset: “As the oldest family butchers in Britain we have moved with the times since 1515, balancing the traditional with the modern. MTD is an example of that progression and we are happy to be digitising our records to make the switch to digital as part of the MTD Pilot”.

For most businesses their accountant or other tax representative will already be aware and will advise them how and when they need to make changes to be ready for the new service. Those already using software will simply need to ensure it’s MTD compatible before joining the new service. For those who are not using an accountant though, it is quick and easy to sign-up and there is lots of information avai


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