Tag: VAT

Coronavirus Update: Tax appeal deadlines extended

HMRC has extended the period available for taxpayers to appeal a tax decision by an additional three months, in light of the current pandemic. Under normal circumstances, HMRC writes to tell individuals if they can appeal, and they usually have 30 days in which to do so. Updated guidance now states that if an individual…




How To Keep Your Best Employees

In today’s tight labour market, it can be difficult to keep hold of your most talented employees capable of helping to take your business to the next level. Perks are one way of keeping staff motivated and happy but they need to be carefully thought out to avoid such schemes falling flat. Most business owners…




What Happens When My Business Reaches VAT Status?

If your business has reached the level of VAT status, then on the one hand this is something to be celebrated. Only those businesses that exceed £85,000 in profit are required to charge VAT but while gaining this status is an indicator of business success, it does open up a some additional administrative burdens when…




R&D Tax Relief Claims Rising

The number of companies claiming tax relief for research and development has increased according to data released by HMRC but critics say not enough is being done to encourage innovation. R&D tax credits are nothing new having first been introduced 18 years ago to help companies invest more in research and development. During the period…




ebay VAT Charges Introduced This Month

From the 1st of August Ebay will now be charging business sellers VAT for the first time, which introduces a number of potential issues for ebay traders. This means that when you receive an invoice from ebay from this month on, it will have an extra 20% in VAT added to it. While on paper…




What is the flat rate VAT Scheme?

The Chancellor’s Autumn Statement had a hidden sting in the tail for the growing numbers of self employed traders in the UK who may need to keep a close eye on things if they are VAT registered. Everyone who has been self-employed for a length of time will be familiar with the extra charge on…