Category Archives: Uncategorised
August 20, 2019
The implications of the over-75 licence problem
While the row over the BBC’s decision to scrap universal free TV licences for the over-75s has focused on the impact on those affected, it also forms part of the ongoing broader debate around inter-generational fairness. Free TV licences for the over-75s were introduced by Gordon Brown in his 2000 Budget.
August 17, 2019
Think you’re too smart for mandate fraud?
If you’re among the 57% of UK businesses who say they’re aware of mandate fraud (also known as invoice fraud) you may feel confident that it couldn’t happen to you.
August 14, 2019
IR35: April 2020 Private Sector Reform
In April 2017, the government reformed the rules in the public sector to address non-compliance with the off-payroll working rules legislation (commonly known as IR35) and it has since been announced that the government will reform the legislation within the private sector.
August 13, 2019
Getting to grips with the tax gap
HMRC did not collect 5.6% of the tax revenue due for 2017/18 according to its annual report on the tax gap. And the biggest increase in shortfall was from smaller businesses and individuals.
August 09, 2019
Expense – Revenue or Capital
Have you got a rental property and looking to renovate or carry out repairs? Are you concerned with what expenses you can claim for tax purposes? Generally allowable expenses are of a revenue nature rather than a capital nature.
August 06, 2019
VAT reverse charge for building and construction from October
New rules come into force in October for VAT-registered firms reporting under the Construction Industry Scheme (CIS) as part of HMRC’s attempt to tackle fraud in the industry.
July 30, 2019
Parents receive HMRC penalties reprieve
Around 6,000 parents have had their penalties cancelled for failure to notify HMRC that they were liable for the high income child benefit charge (HICBC). This is unlikely to be repeated, so families need to be aware of their position. Around 1.
July 29, 2019
The upcoming VAT changes for contractors and subcontractors in the building and construction industry come into force from 1st October 2019 in respect of invoices within the CIS scheme.
July 25, 2019
VAT on Imports
When purchasing goods that are sent to you from outside of the European Union (EU) import VAT and duties will be due. These goods will firstly go through customs authorities to check that it is allowed into the country and that you are paying the correct amount of import VAT and duty.
July 23, 2019
Feel the benefit: have a party!
Most employers are aware that they can throw a staff party for their employees at a cost of up to £150 per head without this being treated as a taxable benefit, but there are conditions to watch out for.1 2 3 … 11 Next »