Are you having issues understanding the VAT reverse charge?

Are you having issues understanding the VAT reverse charge?

It has been just over four months since the introduction of the domestic VAT reverse charge for building and construction services. This major change for the construction industry moved the responsibility to the customer who receives a construction service. Customers...
Getting ready for the MTD extensions

Getting ready for the MTD extensions

Making Tax Digital (MTD) originally came into force from April 2019 in a bid to transform tax administration. There are now extensions to MTD being introduced which may affect those that are not currently required to follow the MTD rules.

Business rates on empty properties

Business rates on empty properties

As a landlord you may have lost income during the pandemic as tenants have left or gone into liquidation. Council tax (for residential properties) and business rates (for commercial premises) remain payable when a building is empty but there may be reliefs available....
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...