Tag Archives: business support

  1. Brexit – The End of Transition is Nigh

    The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. Whatever deal is finally agreed between the EU and the UK government, the VAT rules for UK traders will be different from 1 January 2021,…

  2. Government Updates September 2020

    Here is a summary of the latest government updates, dated 24 September. Job Support Scheme The Job Support Scheme (JSS) is designed to give business the ability to retain staff working reduced hours, rather than make them redundant. Employees will only be eligible for the scheme if they are working at least 33% of their…

  3. New Implementation Dates for Making Tax Digital

    As you may be aware HMRC decided to delay their plans to implement Making Tax Digital (MTD) due to the Covid-19 virus. HMRC has now announced the new implementation dates. Making Tax Digital will now be: Extended to VAT-registered businesses with turnover below the £85,000 VAT threshold from April 2022 (In other words anyone VAT…

  4. Coronavirus: Our Services To You

    Covid-19 Coronavirus With the increasing national concern regarding the COVID-19 coronavirus, we want to assure our clients that we are monitoring the developing situation carefully and have a plan in place to provide a continued service to clients as far as we possibly can. To read more please visit our dedicated pages here

  5. December’s General Election and Tax

    Following the General election on 12 December, Prime Minister Boris Johnson has confirmed that Sajid Javid remains as Chancellor of the Exchequer and no other changes at HM Treasury have been announced. The Prime Minister has however, confirmed that a more significant cabinet reshuffle will take place after the UK leaves the EU on 31…

  6. How Can You Identify Genuine HMRC Communications?

    Broadly, phishing is the fraudulent attempt to obtain sensitive information such as usernames, passwords and credit card details by disguising oneself as a trustworthy source in an electronic communication. This is generally carried out by email spoofing or instant messaging, and it often directs users to enter personal information at a fake website which matches…

  7. Workplace Pensions Re-enrolment Requirements

    Every three years you must put certain staff who have left your pension scheme back into it. This is called re-enrolment. Whether you have staff to put back into your scheme or not, you must complete a re-declaration of compliance to tell the Pensions Regulator how you have met your duties. Remember, re-enrolment and re-declaration…

  8. Changes to Capital Gains Tax on Residential Property From April 2020

    From 6 April next year, Capital Gains Tax (CGT) incurred following the disposal of a residential property will have to be paid within 30 days of the completion date. Failure to pay on time will result in HMRC imposing interest and potential penalties. This new deadline applies even where no money has changed hands, such…

  9. VAT: Reverse Charge for Building and Construction Services

    This anti-fraud measure will introduce a VAT reverse charge on certain building and construction services. The final version of the legislation was published at Budget 2018, and will come into effect on 1 October 2019. It will affect businesses involved in buying and selling construction services. It does not apply to zero-rated supplies of construction…

  10. Zero-Rating VAT of Transport of Disabled Passengers

    HMRC have issued Brief 3 (2019), which aims to clarify that the Department’s policy on the scope of the VAT zero rate for transport services has not changed following the Upper Tribunal (UT) decision in Jigsaw Medical Services Ltd (2018) UKUT 0222. In this case, the UT heard an appeal by HMRC against the First-tier Tribunal’s…

  11. We’re Recruiting!

    We’re looking for a friendly Receptionist for our comfortable Shiphay offices. Main duties will include: Keeping the Reception area and meeting rooms tidy. Setting-up meeting rooms, including Skype, video and any other technology required. Diary maintenance. Managing our CRM and Workflow system (full training provided). Answering the telephone Welcoming visitors. Filing. Handling incoming and outgoing…

  12. Making Tax Digital for VAT Update: How to Deal with Petty Cash Transactions

    HMRC has published an updated version of their guidance for businesses on Making Tax Digital for VAT. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. Petty cash is traditionally a small amount of cash on hand that covers day to day expenses of a business, such as…