As we have highlighted in many posts to this blog, from 1 April 2019, ALL VAT registered businesses with turnover above the £85,000 VAT registration threshold will have to submit their VAT returns from within software that can link with HMRC’s networks. In techno- speak, your data...
6 months 4 days ago
From 1 November 2018, owners of properties on estates or sites that are obliged to pay service charges to a management company - for example, for the maintenance of common areas, gardens, or the employment of a site warden or caretaker - may be in for an unwelcome surprise.
It would...
6 months 1 week ago
OpRA is the acronym for an optional remuneration arrangement. Before April 2018, these were termed “salary sacrifice” arrangements. Essentially, both are benefits in kind (BiK) offered to employees in place of salary increases.
Recent changes ensure that that where such benefits are...
6 months 2 weeks ago
Truthfully, no one knows what trading conditions will be like once we exit the EU. Will supply chains seize up or will it be business as usual?
If there is a possibility, however remote, that the commercial landscape will change, doesn’t it make sense to undertake an assessment of...
6 months 2 weeks ago
This article is our usual reminder of the tax breaks available if you are organising a Christmas party for your staff.
Many businesses take time out to provide their employees with a work based party or similar event. If you are concerned about the tax consequences of Christmas...
6 months 2 weeks ago
Businesses that presently trade with the EU block may like to consider applying for Authorised Economic Operator (AEO) status. The following notes explain why this may be helpful.
AEO status is an internationally recognised quality mark that shows:
your role in the international...
6 months 2 weeks ago
Marriage Allowance lets you transfer £1,190 of your Personal Allowance to your husband, wife or civil partner - if they earn more than you.
This reduces their tax by up to £238 in the tax year. To benefit from this arrangement, you (as the lower earner) must have an income below...
6 months 2 weeks ago
When a director has been found guilty of mismanagement verging on fraud, one of the remedies that the courts can impose is disqualification as a director. But what does this actually mean?
A disqualified director has to abide to the following restrictions:
While the order or...
6 months 2 weeks ago
1 December 2018 - Due date for Corporation Tax due for the year ended 29 February 2018.
19 December 2018 - PAYE and NIC deductions due for month ended 5 December 2018. (If you pay your tax electronically the due date is 22 December 2018)
19 December 2018 - Filing deadline for the...
6 months 2 weeks ago
Many small businesses, including landlords, use personal bank accounts to lodge business receipts and make business payments. If traders in this situation are subject to a HMRC enquiry into their business affairs, HMRC would be entitled to request sight of all bank accounts that...
6 months 3 weeks ago
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The real tax cost of benefits in kind https://t.co/xHHSAzcUnL -
E-bike cycle to work scheme announced https://t.co/O3QYOjTvkh
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Did you know income rates can be as high as 60 percent? https://t.co/puNDhQDPVn
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Tax free perk before annual leave https://t.co/FmmxlkUzFl
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Do you own a holiday let property? https://t.co/waY9zWdYm2
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Tax Diary June/July 2019 https://t.co/OjXUEzTTYL
