Can you claim back the VAT when you buy a car?

Sep 24, 2019

The short answer to this question is a resounding “no”, but as always with tax, there are exceptions.

Obviously, if you are in business and not VAT registered, you cannot reclaim the VAT added…

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Does your employer pay for your private petrol?

Sep 19, 2019

A reminder that you can avoid the hefty car fuel benefit charge if you drive a company car and your employer pays for your private fuel.

One way to achieve this is to repay your company for…

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How much tax do you pay on your dividends?

Sep 19, 2019

If you own a small limited company your shares entitle you to draw a return on your shareholding – in common parlance these returns are called dividends.

A company can only pay dividends if…

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Unclaimed estates

Sep 16, 2019

There is nothing more intriguing that the notion we may be due untold riches from undisclosed sources. For example, do you have any premium bonds, and did you notify the registrar the last time you…

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Do you have a December year end?

Sep 10, 2019

December is probably the second most popular trading year end for businesses; the most popular being the 31 March.

Your end of year planning should include a review of your results – prior to…

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Construction industry VAT changes 1 October 2019

Sep 05, 2019

Just one month to go until the so-called “Domestic Reverse Charge” will apply to VAT registered traders who are also registered to use the Construction Industry Scheme.

There has been an awful…

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Simplify apprenticeship funding

Sep 03, 2019

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged the government to simplify the complexities of accessing apprenticeship funding.

The Apprenticeship Levy took…

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HMRC issues Customs EORI numbers

Sep 03, 2019

In order to try and ensure that businesses are ready to trade post-Brexit, HMRC is automatically enrolling them in the customs system.

HMRC has confirmed that more than 88,000 VAT-registered…

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Trusts with small amounts of savings income

Sep 03, 2019

In the latest Trusts and Estates Newsletter HMRC has confirmed the continuation of the interim arrangement for interest reporting.

In 2016 the requirement for payers to deduct tax at source…

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