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Professional Practices

BUZZACOTT'S PROFESSIONAL PRACTICES TEAM are specialists with years of experience in working with mid-tier partnerships, advising the partners in firms of solicitors, patent attorneys, architects and chartered accountants.

We know what it takes to start a practice and make it grow.  We understand the business and tax needs and the burden of compliance. And we can inform the difficult decisions that come with change: when and how to finance, strategies for tax, the pros and cons of LLP conversion, succession planning – and the crucial task of managing growth in good times and preserving stability in bad.

News

Year end "housekeeping"
The year end is coming up in the next few weeks so now is the time to think about financial housekeeping issues

SRA Accounts Rules - general update
In relation to the October 2011 introduction of the SRA Accounts Rules, here are some answers to frequently asked questions

Payroll - Are you ready for Real Time Information?
HMRC are calling this the biggest shake up of PAYE since its introduction in 1944

Pensions Contributions
Pension planning continues to be one of the most attractive forms of tax efficient investment.

Using your Individual Savings Account (ISA) allowance
ISAs are exempt from capital gains tax and income paid to investors is free from income tax.

Personal tax – planning for 5th April
With a few months to go before the end of the tax year there is still time to consider some tax planning opportunities

Law firms – new reporting requirements
Compliance Officer for Legal Practice (COLP) and Compliance Officer for Finance & Administration (COFA) roles go live on 1st January 2013

VAT – property transactions
The general rule is that input VAT incurred pre-registration may be claimed on the first return after registration

Pensions – pension relief
Despite recent changes and the pre-Autumn Statement rumour mill, pension contributions remain a tax effective method of saving for retirement

Payroll – Real Time Information (RTI)
RTI is a new requirement to report PAYE information in real time