Month: October 2019

Good news for business owners

By Ola Sulaimon Ronzl Accountants BUSINESS owners can claim capital allowance on qualifying plants and machinery. The capital allowance gives relief on the cost on qualifying expenditure immediately or over a period of time. Capital allowance, however, is only available to integral features within the building such as lifts, air-conditioning system, electrical system etc. Business […]
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Good news for those looking to acquire

By Ola Sulaimon Ronzl Accountants THERE are different ways that business owners use to expand their business. One such is acquiring a new business, most times the business acquired is usually assets both tangible such as computers, vans, etc. and intangible such as goodwill. Before 1 April this year, the business owners acquiring these items, […]
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Making errors on VAT returns

ERRORS IN VAT RETURNS COMMONLY MADE BY OWNERS.

Errors in vat returns occur many times, the business owners who are VAT-registered have various obligations which includes submitting a correct VAT returns. The main reason for this is to ensure the accuracy of the returns submitted and, most especially, to ensure the right amounts of input and output VAT are charged and claimed. Many […]
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