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Exporting goods to the EU with a no-deal Brexit

Last week we considered the effects of importing goods from the EU if a no-deal Brexit occurred. This week we are considering matters that government has published for exporters to the EU. A summary of the comments made in recent announcements is reproduced below. After the UK...
2 days 23 hours ago

Is this a good time to invest

This article considers the question: should businesses invest in new equipment or other long-term capital acquisitions at this time? In truth, no one knows what the impact of the Brexit will be? Brexiteers believe that the floodgates will open, and the rest of the world will rush to...
4 days 23 hours ago

Exclusivity and tax relief

In order to qualify as a deduction for tax purposes we have to demonstrate that the expenditure was incurred “wholly and exclusively” for the purposes of our business or employment. We will also need to consider a further criterion: where the expenditure has a duality of purpose....
1 week 2 days ago

Importing goods from outside the EU

Although the Brexit issue is not yet decided it may be salutary for businesses to consider the changes they will need to face if we depart with a no-deal Brexit. We have touched on these issues in past articles posted on this blog, but today we have reproduced the present regulations...
1 week 4 days ago

Did your goat eat your accounts?

Companies House have published a list of bizarre excuses for the late filing of their statutory accounts. They include: “goats ate my accounts” “I found my wife in the bath with my accountant” “pirates stole my accounts” “we delivered the accounts to the betting office next door...
2 weeks 2 days ago

About turn, you can use spreadsheets

HMRC has about-faced regarding the ban on using spreadsheets to work out your VAT return data from 1 April 2019, when the new requirement to file VAT returns using Making Tax Digital (MTD) format is introduced. Bowing to pressure from industry, the accountancy profession and...
2 weeks 4 days ago

Tax Diary September/October 2019

1 October 2018 - Due date for Corporation Tax due for the year ended 31 December 2017. 19 October 2018 - PAYE and NIC deductions due for month ended 5 October 2018. (If you pay your tax electronically the due date is 22 October 2018.) 19 October 2018 - Filing deadline for the...
2 weeks 4 days ago

Not so trivial

Options for reducing the impact of taxation on our earnings are somewhat limited. That said, there are still opportunities that will keep you the right side of the law and will increase the take home pay of employees. One such opportunity available to employers is to pay so-called...
2 weeks 4 days ago

Passport issues if a no-deal Brexit

Guidance on the use of a British passport to travel abroad after 29 March 2019, if there is a “no-deal” Brexit, was issued by government last month. The pertinent facts are reproduced below: After 29 March 2019, if you’re a British passport holder (including passports issued by the...
2 weeks 4 days ago

What is a reasonable excuse

HMRC is still required to obtain certain returns from you even if there is no income or tax to declare. Failure to submit will likely trigger late filing penalties and unfortunately, pleading ignorance of your obligations to file “nil” returns is not a reasonable excuse. Which begs...
2 weeks 4 days ago

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