Are you missing out on claiming tax relief for expenses you have to pay for your job? There are plenty of flat rate expenses on offer to employees which you can claim for, and in this guide, we’re going to take you through everything you need to know. Let’s take a look at how to claim tax relief as an employee for your expenses –...
If you’re an entrepreneur or contractor, running a limited company or register as a sole trader, based in the UK, you need to know about the penalties imposed by Companies House and HMRC and how they could impact your business. By understanding these deadlines, you can plan ahead allowing you to focus on your business. Whether you are a freelancer, subcontractor or micro business owner,...
This is the first Autumn Budget which has taken over from the now defunct Autumn Statement. The Chancellor, Philip Hammond MP, froze the threshold for VAT, introduced reverse charging for construction industry VAT reporting and also introducing new online VAT fraud processes to clamp down on illicit online trading. VAT had made the headlines even before Philip Hammond stood up to present his Budget to...
Your digital tax journey shouldn’t necessarily be linked to the Government’s Making Tax Digital (MTD) initiative. You should embrace the digital future and use the disruptive power of digital to help make your digital journey more intuitive and less legislative. For those unaware, MTD was removed from the Finance Bill just before the last General Election and uncertainty due to the current minority Government means...
A little background “Ministers confirm a new timetable for Making Tax Digital ” … An apt understatement from a Government without direction. The new announcement, on July 13th, 2017, stated that “three million of the smallest businesses and landlords will be able to move to the new digital system for keeping tax records at a pace that is right for them.” The delay is a...
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