complete financial know how

Articles in category: VAT

New Changes for the Flat Rate VAT Scheme

As of 1st April 2017, there will be new changes coming into effect for the Flat Rate VAT Scheme. The Flat Rate VAT Scheme (FRS) is a simplified accounting scheme for small businesses, and currently a business’s flat rate percentage is determined by reference to their trade sector. In addition to this, from 1st April 2017, […]

Read More →

Barrister wins VAT efiling appeal

A £100 penalty issued by the HMRC for failing to submit an online VAT return has been overturned by a self-employed barrister, on the grounds that an earlier requirement to read HMRC terms and conditions relevant to online filing procedures was unlawful. The barrister had no protestation to submitting the online VAT return, but did […]

Read More →

VAT considerations for Dentists – Cosmetic Treatment

The business aspects of dental practice have greatly evolved in recent years. Changes include: Dentists’ contracts Growing business requirements Patients’ expectations exerting an increasing influence on all aspects of the dental industry. Cosmetic Dentistry: As cosmetic dental work is on the rise in Britain; it is no surprise that many private practices are taking advantage […]

Read More →

What does the summer 2015 budget mean?

Our summer 2015 budget summary is designed to help you interpret what the summer 2015 budget means to you. Alongside our text we have included tips which you may want to consider. At the back of the Summary you will find a calendar of the tax year with important deadline dates shown. One of George […]

Read More →

Milk Quota Changes to Benefit Dairy Farmers

An interesting article from Farming UK:- One of the parcel of measures associated with the current reform of the Common Agricultural Policy is that Milk Quota, initially introduced in 1984, has finally been abolished. As a result farmers will be no longer be restricted in how much milk they can produce – although given the […]

Read More →

What could the election mean? Conservative Manifesto Tax Polices

Manifesto Tax Policies – Conservative The most prominent tax announcements included: increasing the inheritance tax threshold to £1m; ensuring all people who work 30hrs per week on the minimum wage pay no income tax; a commitment to no rise in VAT, national insurance contributions or income tax; increasing the personal allowance to £12,500 and raising […]

Read More →

Spring 2015 Budget – What you need to know

“Budgets probably don’t win or lose elections on their own – but in an election year, the Chancellor surely has one eye on the polls. George Osborne promised there would be no gimmicks and no irresponsible giveaways: he would concentrate on the Government’s long-term aim of reducing the deficit, rather than attempting to fool the […]

Read More →

Place of supply VAT rule changes

From 1st January 2015, if you are involved in the supply of digital services (electronically supplied services) you should be prepared for a major change to the VAT place of supply rules. If your customers are private individuals in other EU member states, you will be required to account for VAT on these supplies in […]

Read More →