VAT – Temporary reduced rating, and the return to normal for hospitality, holiday accommodation and attractions September 22, 2021It did not take long for the effects of lockdown to be felt in the hospitality sector, and while some... Read More
Annual Investment Allowance for accounting periods straddling 1 January 2022 September 16, 2021Currently the maximum Annual Investment Allowance (AIA) available on expenditure incurred on Plant and Machinery (P&M) is £1,000,000. From 1... Read More
TAX PLANNING WITH SHARES AND SPOUSES – AVOID THE TRAPS! August 26, 2021Many “one-man” companies, and indeed many “close” companies within the OMB/SME sector, utilise their directors’ tax free allowances by paying... Read More
Goodwill Hunting August 5, 2021Mark McLaughlin points out two circumstances in which business owners may be thankful for goodwill in the business The valuation... Read More
Deal Or No Deal? August 5, 2021Mark McLaughlin points out that some shareholders may prefer proceeds from a company purchase of their shares to be treated... Read More
AD-VANTAGE WITH YESTAX: A BRILLIANT NEW PARTNERSHIP! July 22, 2021We are delighted to announce that YesTax is now an official partner of Vantage Fee Protect for the provision of specialist tax services.... Read More
Late Payment Penalty – Don’t get caught out! July 21, 2021The payment deadline for the second payment on account for 2020/21 is 31 July 2021. Failure to meet this deadline... Read More
B2C professional services to EU from 1/7/2021 July 5, 2021Since Brexit, the supply of professional services listed within section 12.2 of VAT Notice 741 by UK suppliers to EU... Read More
Professional Indemnity Insurance & Regulation in the Tax Advisor Market June 30, 2021At The Spring Budget in 2020 the Government asked for evidence to look at ways to raise standards in the... Read More
Claiming VAT on the construction of a new working farmhouse June 3, 2021So, your client is a VAT registered farmer operating a full-time farming business and lives in the onsite farmhouse. Previously... Read More
Can HMRC contact you? May 25, 2021Since the introduction of MTD, HMRC has had 2 systems handling VAT returns and payments; one for MTD users and... Read More
Urgent: Only One Month Left! May 21, 2021Did your client take advantage of the agreement by HMRC to allow deferral of the payment of VAT due on... Read More
Why cash isn’t king! April 29, 2021Don’t believe everything you read in the newspapers – especially in the financial pages, warns Roddy Kohn Most accountants, I... Read More
UK Sets New Record For New Company Formations April 20, 2021New figures show that despite the pandemic the number of companies formed in the UK reached a new record high... Read More
Take It To The Bank April 20, 2021Boost for SMEs as free and independent service for unresolved bank complaints goes live Small businesses across the UK are... Read More
HMRC Enquiries on the Increase as New Task Force Announced April 16, 2021Each year HM Revenue & Customs (HMRC) will undertake a number of tax enquiries into individuals and businesses in order... Read More
Budget 2021 – Further Changes Explained March 23, 2021On 3 March 2021 the Chancellor delivered his 2021 Budget upon the backdrop of the current Covid pandemic, and the... Read More
Budget 2021: Stamp Duty Land Tax March 5, 2021Given the high take up of property purchases following the temporary increase of the 0% SDLT rate to £500,000 which... Read More
Budget 2021: Changes to Corporation Tax March 5, 2021In his Budget Speech on 3 March 2021 the Chancellor, Rishi Sunak, announced a number of changes to Corporation Tax.... Read More
Budget 2021 Announcements March 5, 2021Furlough and SEISS As widely anticipated, the Chancellor, Rishi Sunak, has announced extensions to the Job Retention Scheme and the... Read More
Cut to the CO2 emissions threshold from April 2021 January 5, 2021As a response to the Government’s strategy of banning the sale of petrol, diesel and hybrid vehicles by 2035, HMRC... Read More
HMRC refuse to move on filing deadline January 5, 2021Representatives from the professional accountancy bodies met with HMRC to urge them to move the 31 January 2021 filing deadline... Read More
Changes to the Place of Supply of Services rules December 22, 2020Changes to the Place of Supply of Services rules for UK suppliers after 31/12/2020 Many services provided by UK businesses... Read More
Selling goods to the EU after 31/12/2020 December 18, 2020VAT and UK businesses selling goods to the EU after 31/12/2020 With effect from 1/1/2021 sales of goods from the... Read More
HMRC Awakens… December 1, 2020It has been widely publicised that there was an initial reduction in HMRC compliance activity when the first lockdown commenced... Read More
Reasonable Excuse – Recent Development October 22, 2020The recent case of Belloul v HMRC provides an interesting view on the concept of the definition of “reasonable excuse”... Read More
Transfer of Private Residence – Private Residence Relief October 1, 2020Transfer of Private Residence – Private Residence Relief Finance Act 2020 introduced changes under paragraph 24 regarding the period of... Read More
Adversely affected business by coronavirus September 17, 2020Self-Employment Income Support Scheme What is an Adversely Affected Business? A taxable grant was payable to eligible self-employed individuals (and... Read More
Coronavirus Job Retention Scheme Update September 9, 2020As part of the phased withdrawal of the Coronavirus Job Retention Scheme (CJRS), further changes have been introduced as from... Read More
Reasonable Excuse – Recent Development September 8, 2020The recent case of Belloul v HMRC provides an interesting view on the concept of the definition of “reasonable excuse”... Read More
