Recurring income

Jul 04, 2019

If you are in business you either buy (manufacture) or sell goods, or you deliver a service based on your personal skills.

If you buy or sell goods there is no reason to believe that once you…

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Update on the VAT reverse charge for building contractors

Jul 03, 2019

From 1 October 2019, contractors who employ subcontractors, will need to assume responsibility for declaring and paying the VAT that was previously settled by their VAT registered subcontractors.

From…

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Reconsider cycle to work scheme

Jul 03, 2019

The government have recently announced that they are to extend the criteria for an approved, and therefore tax-effective, cycle-to-work scheme as part of their drive to reduce pollution and CO2 emissions…

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Brexit risk assessment

Jul 03, 2019

It looks increasingly likely that we are heading for a no-deal Brexit. Taken literally, this means that our present relaxed trading relationship with customers and suppliers in the EU will cease at…

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HMRC prevents phone fraudsters

Jul 03, 2019

New defensive controls recently deployed by HMRC have put an end to fraudsters spoofing the tax authority’s most recognisable helpline numbers.

Fraudsters have increasingly mimicked legitimate…

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Tax Diary July/August 2019

Jul 03, 2019

1 July 2019 - Due date for Corporation Tax due for the year ended 30 September 2018.

6 July 2019 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class…

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Legal and professional fees and property transactions

Jul 02, 2019

We are often asked to explain if the professional fees you pay, associated with a property transaction, are a tax allowable deduction.

The straight-forward answer is yes, they are, but it is…

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CGT giveaway?

Jun 27, 2019

The awkwardly named “Gift Hold-Over Relief” (GHOR) allows you to give away business assets – including certain shares – or sell them for less than they are worth, and not pay (or pay reduced) capital…

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Have you heard of the Prompt Payment Code?

Jun 25, 2019

The Prompt Payment Code (Code) is not a fanciful device to access cash from bank machines or a way to secure automatic “prompt” payment from your customers.

The Code was actually set up by the…

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