How Capital Gains Tax On Property Will Change From April 2020
In April 2020, some important changes to the tax regime for gains made from the sale of residential property will come into effect. Here is a short summary of how they will affect the way you report and pay capital gains tax. Capital gains tax: currently...
VAT Partial Exemption | Do You Know What You’re Entitled To?
VAT partial exemption is one of the most difficult aspects of the VAT system and more often than not, requires an accountant that knows VAT schemes (in the) UK inside out. A business is partly exempt if it makes, or intends to make, both taxable and exempt supplies...
Business Entertainment Expenses: What Can You Claim?
In most cases, the cost of entertaining is not tax-deductible, and VAT is not recoverable on expenditure. However, HMRC rules are complex, and VAT can be reclaimed in certain circumstances. So what business entertainment expenses can you claim? Is client entertainment...
Employment Allowance | Everything you need to know for your small business
The HMRC has published draft legislation to restrict access to the employment allowance for a tax year to employers with secondary Class 1 National Insurance contributions (NICs) liabilities below £100,000 in the previous tax year. The new restrictions will apply to...
EU VAT Refund | Everything You Need To Know
You’re on holiday in Europe and you find an item that would be perfect for your office, but reclaiming VAT on EU purchases made abroad can be a daunting prospect. You question whether you should buy it and whether you would be able to reclaim the foreign VAT you pay. ...