Tag Archives: business support

  1. 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…

  2. 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…

  3. 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…

  4. 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…

  5. 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…

  6. 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…

  7. Trading with the EU? You will need a UK Customs Number After Brexit

    If you are a UK business and you are trading with the European Union by importing or exporting goods, you will need a UK EORI number to continue trading after Brexit. EORI is short for Economic Operators Registration and Identification Number. This is used by custom authorities throughout the European Union. This unique number is…

  8. January 2019 Record Tax Revenue

    The Treasury has been given a boost after official figures showed the Government recorded its largest January budget surplus, as they enjoyed a bumper haul of tax receipts. Figures from the Office for National Statistics show that public finances were in surplus by £14.9 billion last month, the largest January total since records began in…

  9. Juicy First Tier Tribunal Case

    The First Tier Tribunal (FTT) was recently called upon to examine whether fruit and vegetable juices sold as meal replacements were beverages and therefore standard-rated for VAT. The case (The Core (Swindon) Ltd [2019] TC 06874) concerned a juice bar and health café which supplied juice cleanse programmes (JCPs) consisting of fresh drinkable products made…

  10. Can Employers Still Claim the Employment Allowance?

    In broad terms, the Employment Allowance (EA) is available to most employers and should enable them to reduce the amount of National Insurance Contributions (NICs) they have to pay by up to £3,000 per year. The eligibility rules changed from April 2016, and the Autumn Budget 2018 announced further changes expected to take effect from…

  11. New Capital Expenditure Rules from January 2019

    Businesses considering investing more than £200,000 in plant and machinery could benefit from a change to the capital allowances rules in January 2019, which should allow them to obtain tax relief at an earlier time.  Capital allowances are treated as a trading expense of a particular accounting period, so they can potentially increase a loss,…

  12. Making Tax Digital – Be Ready

    The April deadline for Making Tax Digital is rapidly approaching so we all need to be prepared, which includes using a software programme compatible with HMRC. Making Tax Digital will help bring the tax system into the 21st century by providing businesses with a modern, streamlined system to keep their tax records and provide information…