Taxing Times: Budget Changes Threaten Investors
Sweeping changes will be altering Capital Gains Tax (CGT). These changes were announced in October in broad terms, although the details are not yet settled...read more
How Changes to capital gains will affect buy-to-let properties
The Chancellor’s Pre-Budget Report on 9 October 2007 contained sweeping changes to the capital gains tax regime. These will affect the buy-to-let investor...read more
Capital Gains Tax Changes - Threats and Opportunities
The headlines have focussed on the increased rate of tax for the sale of business assets from 10% to 18% after 5 April 2008, but there is a lot more to it than that, click the links below to read more.
Capital Gains Tax Changes - Key Points…read more
What To Do Now...read more
Fixed Price Review...read more
Have Your Cake and Eat It...read more
How to Wipe Out Your Capital Gains...read more
Case Study...read more
Family Benefit Trusts
Or how to solve the nightmare of surplus cash in your trading company...read more
Discretionary Will Trusts
Until 9 October, it was generally received wisdom to have a nil-rate-band discretionary trust written into your will. Not any more, and all such wills now need an urgent review...read more
Landmark York Hotel Sold - After 22 Years in Family Hands
Garbutt & Elliott’s corporate finance team have assisted in the sale of a landmark York hotel, which has been owned by the same family for 22 years…read more
Calling Yorkshire Family Businesses...read more
Family Business Survey 2008...read more
Family Business Conference on 10th April 2008 at Hazlewood Castle near Tadcaster...read more
Step2Swing with Nick Faldo...read more
New Appointments at Garbutt & Elliott…read more
Festive Opening Hours
Our offices will close for the festive season at 5pm on Friday 21 December 2007 and re-open at 8.30am on Wednesday 2nd January 2008.
What will be in the Chancellor's box for York and North Yorkshire?
Wednesday will see Chancellor Alistair Darling’s 1st Budget and it will be the usual mixture of measures already announced and surprises...read more
Latest CGT announcement – have you been thrown a lifeline?
The North has a large number of family businesses who were facing a jump in their tax rate...read more
Scull Joins Garbutt & Elliott as Head of Tax
Garbutt & Elliott, the largest independent firm of accountants in York, has appointed a new head of tax. Nick Scull will be responsible for the development of the firm’s tax department...read more
How Changes to capital gains will affect buy-to-let properties
The Chancellor’s Pre-Budget Report on 9 October 2007 contained sweeping changes to the capital gains tax regime. These will affect the buy-to-let investor...read more
New team for Science City
A TEAM of top business leaders has been unveiled to lead the new company at Science City York, a month after the previous chief executive resigned after only a month into the job....read more
David’s New Varsity Role
David Dickson has been appointed the treasurer of the University of York. David was invited to take up the voluntary post on the University’s advisory council...read more
Nick Joins The Tax Team
Nick, joins Garbutt & Elliott as Head of Tax, responsible for the development of the tax department within the firm ...read more
Inheritance tax and overseas properties
It is estimated that a million Britons now own a property overseas with France and Spain being the most popular countries to not only own holiday homes but also as retirement...read more
ICAEW responds to detail in Pre-Budget Report
In response to today’s Pre-Budget Report (PBR), Duncan Meredith of Garbutt & Elliott, Chartered Accountants & Business Advisors, York, has said...read more
Budget requires time to absorb say Chartered Accountants
The Institute of Chartered Accountants in England & Wales has made some initial observations on aspects of the Budget...read more
Amnesty for offshore bank account holders
On 17 April HM Revenue & Customs (HMRC) announced a form of amnesty for holders of offshore bank accounts not previously disclosed to them...read more
Capital gains and second homes
Most people know that any gain they make on selling their main home is tax-free, while a gain on selling a second home is subject to tax...read more
VAT special schemes – can your business benefit?
There are various VAT special schemes that businesses can use to improve cash flow, reduce administration and even reduce the amount of VAT payable...read more
AIM shares and tax – Budget 2007 announcements
There was an announcement in the 2007 Budget that appeared to have implications for the tax position of AIM shares...read more
A New Beginning for Genesis after £5.4m Buyout
A Yorkshire based tile manufacturer has been acquired by its management in a deal worth £5.4m....read more
Good Times Ahead as Interest in Region Grows
Following a very strong showing for the Yorkshire and Humber region in terms of dealflow in 2005...read more
Glimmer of Hope for Investors After Pensions Disappointment
The new pensions legislation introduced 6th April 2006 (A-Day) arrived with more of a whimper than a bang...read more
Taxing Times: Fresh Pensions Hope After SIPPS Blow
Last year there was a lot of excitement about the possibility of putting residential property investment into a pension scheme...read more
Getting to Grips with the New Pension Rules
In the last year we have commented on the new pension ‘Simplification’ legislation, as proposals became policy...read more
Tony is Given New Role to Increase Business
Accountants Garbutt & Elliott have appointed Tony Tarpey as their first-ever Director of Business Development...read more
They're still in STEP after 15 years
Members of the Yorkshire branch of the Society of Trust and Estate Practitioners (STEP) celebrated the organisation's 15th anniversary...read more
Figures All Add Up
TWO golfers from the York office of chartered accountants Garbutt & Elliott have thrown down the gauntlet to fellow chartered accountants across the country...read more
Scull Joins Garbutt & Elliott as Head of Tax
Garbutt & Elliott, the largest independent firm of accountants in York, has appointed a new head of tax. Nick Scull will be responsible for the development of the firm’s tax department...read more
How Changes to capital gains will affect buy-to-let properties
The Chancellor’s Pre-Budget Report on 9 October 2007 contained sweeping changes to the capital gains tax regime. These will affect the buy-to-let investor...read more
Landmark York Hotel Sold
A landmark York hotel, which has been owned by the same family for 22 years, has been sold. Graham and Beverley Blythe have sold the Beechwood Close Hotel...read more
New team for Science City
A TEAM of top business leaders has been unveiled to lead the new company at Science City York, a month after the previous chief executive resigned after only a month into the job....read more
David’s New Varsity Role
David Dickson has been appointed the treasurer of the University of York. David was invited to take up the voluntary post on the University’s advisory council...read more
David Dickson, to Chair Science City York Advisory Board...read more
Buying to Let Still Going Strong
The enthusiasm in this country for the ownership of property continues unabated and many people are still interested in acquiring property for letting...read more
Inheritance tax and overseas properties
It is estimated that a million Britons now own a property overseas with France and Spain being the most popular countries to not only own holiday homes but also as retirement...read more
Garbutt & Elliott Delighted at Customer First Re-accreditation
Garbutt & Elliott were one of the first firms of accountants in the country to receive Customer First accreditation two years ago...read more
Market volatility: manage your risk
Corrections, bubbles, spikes, froth, peaks, troughs, bulls and bears. The last few turbulent weeks on world stock markets always leads to a crescendo of phrases that ultimately can confuse, baffle or of course dent investor confidence...read more
Aiming-High Firm Floats
Investors have scrambled to be part of the flotation of a York based engineering company, which this week set out to raise £12.5 million on the Alternative Investment Market (AIM)....read more
Business Link York and North Yorkshire Entrepreneur Awards
Presentations for the new Business Link York and North Yorkshire Entrepreneur Awards took place on Wednesday 18 July 2007...read more
FACTSHEET: Maintaining a Healthy Cash Flow and Getting Paid on Time Helpful hints and tips on cash flow management for your business; a Business Link publication co-written by Ian Smith, Finance Director. (PDF download)...read more
A Hard Time for Haulage
A DEADLY combination of red tape and stiff competition from European businesses is threatening to send Yorkshire's haulage industry into decline...read more
Hauliers facing an uphill struggle
The region’s haulage industry is facing a double attack in the battle for profitability, says a new survey...read more
How to Make the Most of Tax Breaks on Your Letting Property
With the holiday season nearly upon us, it seems an appropriate time to consider the tax implications of owning and letting holiday accommodation...read more
Buy-in is the start of grand plan for couple
LEEDS-based accountants and business advisers Garbutt & Elliott has acted for the new owners in a management buy-in of Parkmore Hotel...read more
Taxing Times – Buy-to-Let
All income from the letting of property, both residential and commercial, is regarded as a single property-letting business...read more
An expert’s analysis…
DUNCAN MEREDITH, tax expert for York accountants Garbutt & Elliott, looks in detail beyond the headlines of Gordon Brown’s 11th Budget...read more
Garbutt & Elliott Tax Alert
In this special bulletin, we take a look at topical tax issues which may affect our clients, or which may be of interest ... read more
How to Avoid the Inheritance Tax Blow
Are you in the lucky position that you have a second home? This could be a holiday home...read more
Accountants go platinum
Garbutt & Elliott has earned the Association of Chartered Certified Accountants’ (ACCA’s) prestigious Platinum Approved Accredited Employer status...read more
Taxing Times: Sale Of A Garden
This week we examine the sometimes complex rules that have to be considered when planning a sale of a garden connected to a main residence...read more
ICAEW responds to detail in Pre-Budget Report
In response to today’s Pre-Budget Report (PBR), Duncan Meredith of Garbutt & Elliott, Chartered Accountants & Business Advisors, York, has said...read more
David Wins Lifetime Achievement Award
No-one was more surprised than our Managing Director, David Dickson on receiving the prestigious York Press Lifetime Achievement Award...read more
Garbutt & Elliott open office in Newcastle
With effect from Wednesday 18th October Garbutt & Elliott will be operating from Newcastle in addition to their York and Leeds offices...read more
Getting to Grips with the New Pension Rules
In the last year we have commented on the new pension ‘Simplification’ legislation, as proposals became policy...read more
Au Revoir, Mr Kirman
It is not so much a goodbye from him, as an au revoir after half a lifetime...read more
Why invest in commercial property?
Jeremy Oliver, Director and Head of business advisors Garbutt & Elliott’s property Services Team looks at the pro’s and con’s of commercial property investment...read more
Beware Costly Ambushes from Tax Inspector
Is your property exempt from inheritance tax? It depends what sort it is...read more
How to Use the new Rules to Best Advantage
The property market continues to boom and activity in this sector remains strong. Many individuals continue to invest...read more
A New Beginning for Genesis after £5.4m Buyout
A Yorkshire based tile manufacturer has been acquired by its management in a deal worth £5.4m....read more
Good Times Ahead as Interest in Region Grows
Following a very strong showing for the Yorkshire and Humber region in terms of dealflow in 2005...read more
Hundreds of Jobs due to be created
Work has begun on a multi-million pound development, which will create 250 jobs. Almost 150,000 sq ft of new industrial units are to be built over the next five years...read more
Glimmer of Hope for Investors After Pensions Disappointment
The new pensions legislation introduced 6th April 2006 (A-Day) arrived with more of a whimper than a bang...read more
Taxing Times: Second chances for owners
Over the years, there has been an increasing trend in the number of people owning more than one home. The second property may be for work purposes...read more
Hoping to Put Local Produce First
Michelin Star chef Jeff Baker this week opened a restaurant in York after 10 award-winning years in Leeds...read more
Software Firms Start to Motor after Merger
Universal Training, the Yorkshire company which provides software packages for motor dealers, has merged with another business in a £6m deal...read more
£6M Merger Get In Gear
TWO innovative UK motor dealership software companies, one of which is based in Knaresborough, have merged...read more
Garbutt & Elliott get gardening for York Cares initiative
A dozen staff from the different departments of Garbutt & Elliott came together to plan, fundraise and create a sensory garden for Morrell House (PDF download)...read more
Overview of Pre-Budget Report
Chancellor Gordon Brown presented his Pre-Budget Report on Wednesday 6th December 2006...read more
Venturefest Yorkshire 2006 – where great ideas flourished.
Once again this year Garbutt & Elliott were silver sponsors of Venturefest Yorkshire 2006. Venturefest, a free-to-delegates dynamic event connecting knowledge and technology based entrepreneurs with everything they need to make them successful, was bigger and better than ever. There were networking opportunities at every stage of the entrepreneurial ladder, from the Enterprise Inspirations of schools and school pupils through to maturing technology and knowledge-based companies. The early stages of any business are crucial, and the“Innovation Central” area featured pre-start and new start businesses.
For more information about Venturefest and the Venturefest 2007 event on the 7 February 2007 visit www.venturefestyorkshire.net
Top Marks for Garbutt & Elliott Trainees
Garbutt & Elliott, Chartered Accountants, are pleased to announce a 100% pass rate for their trainees taking final Institute of Chartered Accountants in England and Wales examinations...read more
Pre-Budget Report 2005
Chancellor Gordon Brown presented his Pre-Budget Report on Monday 5 December 2005...read more
Raising the Standard
Managing Director David Dickson emphasizes the importance of ‘putting the Customer First’. Here at Garbutt & Elliott we are committed to keeping levels of client service at the highest possible level, recently becoming one of the first firms of Independent Accountants to achieve Customer First Accreditation....read more
Taxing Times: Should you use a company to invest in property?
You may be an experienced property investor or you may be just starting out. Duncan Meredith, tax consultant in Garbutt & Elliott's Property Services Group, looks at the use of companies in property investment situations...read more
Brown looking to increase Inheritance Tax yield as house prices rise
A recent report issued by Lombard Street Research and top accountancy practice Grant Thornton once again highlights the growing impact Inheritance Tax (IHT) will have on an ageing UK population...read more
Taxing Times: Partnerships and Lands
SDLT is now a major tax with rates having quadrupled in recent years and recent extensions to affect almost every sort of land transaction. Since 2004, partnerships that have an interest in land may find themselves unwittingly paying SDLT on an innocent-looking transaction...read more
Taxing Times: Using property to invest for a pension
Judging from press coverage at least, two of the greatest obsessions in the public mind in the UK are property and pensions. Duncan Meredith, tax consultant in Garbutt & Elliott's Property Services Group, draws these two topics together...read more
Taxing Times: Property Refurbishment
This week we examine the tax treatment of expenditure on property refurbishment. Duncan Meredith, tax consultant in Garbutt & Elliott's Property Services Group, looks at the issues surrounding this...read more
Taxing Times: Rent a Room
This week we deal with a relief that is available for those who are looking to share their home by letting a part of it to a lodger. Duncan Meredith, tax consultant in Garbutt & Elliott's Property Services Group, looks at the rent a room scheme...read more
A long way from Monty Python image
Although the image of accountancy has improved since the dark days of the 1970s, when the profession was widely lampooned by the likes of Monty Python, there is a still a residual feeling that accountants are grey figures who are best suited to the austere art of auditing...read more
Taxing Times: Flats over shops
This week we deal with a relief that is available for those who are looking to let residential property above commercial premises. Duncan Meredith, tax consultant in Garbutt & Elliott's Property Services Group, looks at flat conversion allowances...read more
Taxing Times: Furnished Holiday Lettings
This week we deal with an issue that will be of interest to those who let residential property as furnished holiday accommodation. Duncan Meredith, tax consultant in Garbutt & Elliott's Property Services Group, looks at some useful tax breaks that are available...read more
Summary of recent disposals and buy-outs
Garbutt & Elliott Corporate Finance has a dedicated team of 10 professionals with the attitude and experience to help you get the right results...read more
Clear Answers for Thompson Solicitors
Garbutt & Elliott acted for the vendors in the sale of Clear Answers Limited to Thompsons Solicitors, the UK’s leading personal injury law firm for an undisclosed sum...read more
Leading York Marketing Company Bought for £1 Million
PMS, the leading York-based marketing logistics company, has been bought by Yorkshire entrepreneur Nigel Munton for circa £1 million from Ian and Sue Newby...read more
Have Your Cake and Eat It
As corporate finance advisors we are regularly challenged with the classic dilemma faced by many business owners, namely when is the most opportune time to realise some capital value from owning shares in a business...read more
Garbutt & Elliott aid the sale of internet company for £1 million
An internet entrepreneur has sold his online company which he built up from nothing, for £1 million...read more
Corporate Finance team advises management on MBO
Trend-setting roofing contractor Everlast Waterproofing is set to strengthen its market position following a management buy out that will bring new investment and energy into the boardroom of the Yorkshire-based business...read more
Going.....going....almost gone!
As we are all no doubt aware, the new pensions ‘Simplification’ legislation is almost upon us, with its introduction on 6 th April 2006 (A-Day) looms ever nearer...read more
Brown looking to increase Inheritance Tax yield as house prices rise
A recent report issued by Lombard Street Research and top accountancy practice Grant Thornton once again highlights the growing impact Inheritance Tax (IHT) will have on an ageing UK population...read more
Inheritance Tax - Should It Now Be ScrappedBy The Government
A survey this week by Friends Provident, the Insurance Co focused on the continued increases in house prices over the last few years and how this has brought the question of Inheritance Tax...read more
Inheritance Tax Planning for Home owners
An Englishman's castle is just another……………..wealth (stealth) tax opportunity!...read more
Is this the UK's first "Wealth Tax"?
Whilst most of us last December were probably over-indulging in the usual Christmas festivities the Inland Revenue authorities quietly slipped out in a supposed "Consultation Paper"...read more
If You Want Clear Tax Advice go to a Chartered Tax Adviser (CTA)
This year is the 75th Anniversary of The Chartered Institute of Taxation. The Chartered Institute of Taxation have made the 13th September 2005 Chartered Tax Adviser (CTA) Day...read more
How to save tax on childcare costs
A new form of tax relief is being introduced from 6 April 2005 which offers very significant tax savings for the employee, and National Insurance ("NI") savings for both employee and employer. As our remuneration planning consultant, Ray Cadman, explains, it's not quite as easy as A-B-C, but it's well worth learning!...read more
Auditing - all change
For year end 31 December 2005 onwards, all companies that are subject to audit will see changes in their auditor's approach, which arise from a mandatory switch from UK to International Standards on Auditing (ISAs). The principal changes are:-
- Auditors are now required to document and test controls over financial reporting.
- Auditors must now thoroughly understand audit client activities and, in particular, it's business risks and policies for managing those risks.
- Auditors must now consider an audit client's susceptibility to fraud, which will include discussions with management. As has always been the case, identifying and preventing fraud remains the responsibility of the directors. However, auditors must now consider audit testing directed at those areas with a greater fraud risk.
We will be contacting all of our audit clients individually as their year ends approach to discuss how the changes will affect them. In the meantime, if you would like to discuss any aspect of the changes please contact your normal contact or Alan Sidebottom. |
