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The UK tax year and choosing your accounting date

May 10th, 2012 by Paul Beare

Whatever business model you are in, you must prepare annual accounts which report on business performance and activities during the financial year. What many may be unaware of, is that businesses are allowed a free choice of when to end an accounting year.

So, for 2012/13 tax, accounting dates can vary between 6 April 2012 and 5 April 2013. The date that you choose may be dictated by commercial reasons, but also by external factors such as interest rate movements, inflation, changes in rates of tax and changes to the tax system.

As a general rule, using a date towards the end of the tax year leads to the simplest application of a current year basis of assessment, although this leaves very little time before tax is payable. Read the rest of this entry »

Tags: accounting reference date, UK accounting, UK Accounting firms
Posted in Australia, Canada, France, New Zealand, UK accounting, USA | No Comments »

May US / UK Investment news

May 4th, 2012 by Paul Beare

ECONOMIC INDICATORS

UK

  • Gross domestic product decreased 0.2% in the first quarter of 2012
  • CPI annual inflation stands at 3.5% in March 2012, up from 3.4% in February 2012. RPI annual inflation was 3.6% in March, down from 3.7% in February.
  • Service sector output increased 0.8% in February 2012, compared with February 2011.

 London

  • London’s annual growth in output increased to 1.9% in Q3 2011 from 1.5% in Q2 2011.
  • London’s annual employment growth increased to 3.9% in Q3 2011 from 1.0% in Q2 2011.
  • Annual house price inflation in London was 2.3% in Q1 2012, down from 5.4% in Q4 2011 Read the rest of this entry »

Tags: FDI, UK Inward Investment, UK news
Posted in UK accounting, USA | No Comments »

Go UK – Congratulations Lanzatech of New Zealand

April 3rd, 2012 by Paul Beare

Lanzatech logo

Biofuels pioneer LanzaTech will find its foray into the UK a little easier as the winner of the GO UK competition.

The GO UK competition invited New Zealand companies to submit business plans for a chance to win a $30,000 prize package including airfares and professional services.

LanzaTech finance manager-operations Beno Samuel said: “Although LanzaTech has its roots in New Zealand, we are very much a global company having offices in the US, China and India. Read the rest of this entry »

Tags: FDI, International corporate structure, setup business in the UK, UKTI, win business support
Posted in Go UK!, New Zealand, UK accounting | Comments Off

Go UK – Australia summary

April 3rd, 2012 by Paul Beare

As a co-sponsor of the UKTI Australia Business plan competition, we committed to touring (and judging) the three cities below which were grouped by area for the competition.

For those who are unfamiliar with the competition, this clip explains what Go UK competition is about.

It was an intensive week; all covered in 5 days, which lead up to the Sydney launch of the GREAT Britain campaign on the Friday which saw over 140 attendees celebrate all things GREAT, and hear who the winning company of the NSW, ACT and WA entrants was. Read the rest of this entry »

Tags: FDI, International corporate structure, setup business in the UK, UKTI, win business support
Posted in Australia, Go UK!, UK accounting | Comments Off

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