The return of two Corporation Tax rates May 25, 2022In March 2021 it was announced that from 1 April 2023 the rate of corporation tax would increase to 25%,... Read More
Working from home allowance – current position May 20, 2022The working from home allowance has been around for 20 years but it was “relaxed” during covid meaning more people... Read More
Recovery of VAT incurred on digital services prior to VAT registration March 21, 2022We receive many queries regarding the charging of VAT on supplies of digital services supplied by overseas suppliers to UK... Read More
Specialist Consultation January 10, 2022As accountancy practices start to emerge from the pandemic at the start of 2022 and look at improving all aspects... Read More
Time to change the tax year? November 23, 2021The Office of Tax Simplifications wants the Government to simplify the tax year. PQ magazine editor Graham Hambly looks at... Read More
Moving goods between mainland UK and Northern Ireland within a VAT Group November 2, 2021Q: My client is a UK VAT Group registration with members being located in both mainland UK (GB) and Northern... Read More
Making Tax Digital (MTD) is being imposed on everyone October 14, 2021HMRC have published a policy paper outlining the final phase of Making Tax Digital (MTD) for VAT returns which means... Read More
Are you ready for the plastic packaging tax? September 30, 2021Craig Harman explains the new plastic packaging tax will mean for businesses and why they should be planning for the... Read More
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
