Government offers costly Brexit no-deal VAT concession The government has proposed to eliminate the post-Brexit threat of hefty VAT bills on thousands of importers into Britain. This subsidy could cost nearly £8bn per annum. However, additional export VAT, tariff charges and compliance burdens loom for over 130,000 other UK businesses. Brexit Guidance papers make […]
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After 29 March 2019 if there’s no deal This note summarises the main VAT issues that will affect UK businesses trading with the EU in goods and services if the UK leaves the EU without an agreement on 29 March 2019. Although no changes will be made before then, this note highlights the VAT changes […]
Overview RTI is essential for the operation of Universal Credit, which is set to replace the current system of tax credits. Under RTI all employers require an internet connection and RTI enabled software. Employers with less than 10 employees may use HMRC’s free software, however most commercial software is regarded as being easier to use. RTI […]
Making Tax Digital for VAT – Main issues for consideration Read extract or Click on Logo below to watch video: Changes to record keeping – Businesses in scope will no longer be able to keep manual records. Digital records must be maintained in what is defined as ‘functional compatible software’ which can connect to HMRC […]
Read extract or Click on Logo below to watch video: This guide examines the main differences between a business run by a sole trader or as a partnership and a company, managed by its director/shareholder. This comparison is for a trading business. Many of the points summarised here are not relevant if you want to compare individuals or companies managing investment businesses. At […]