Postponed import VAT accounting

Postponed import VAT accounting

As the UK is no longer a member of the EU, import VAT applies to all goods imported from the rest of the world into Great Britain (different rules apply for Northern Ireland) which do not qualify as small parcels (worth under £135). That import VAT will commonly be...
MTD for VAT: crunch time

MTD for VAT: crunch time

Most VAT registered businesses were required to comply with the making tax digital (MTD) regulations for VAT periods beginning on or after 1 April 2019. HMRC has not been imposing penalties for non-compliance with those rules, preferring to nudge businesses with...
Beware of mini umbrella companies

Beware of mini umbrella companies

Umbrella companies employ temporary workers such as contractors on behalf of employment agencies or very large companies. The umbrella company will operate the payroll and makes money by taking a cut of the fees earned by the individual. An umbrella company should...
The benefits of R&D tax relief for SMEs

The benefits of R&D tax relief for SMEs

Jonathan Walton and Owen Kyffin of Whitley Stimpson shared their knowledge of Research and Development (R&D) tax relief and the benefits for SMEs in B4’s The Business Brunch.

Two new SEISS grants

Two new SEISS grants

Two more grants under the self-employed income support scheme (SEISS) will soon be made available, capped at £7,500 each