Change in the construction industry
The VAT domestic reverse charge for building and construction services comes into effect from 1 October 2019. Although some of the detail may change in the months to come, given the scale of the changes envisage... Read news article
The VAT reverse charge on certain building and construction services comes into effect on 1 October 2019.
What is it?
The reverse charge passes the responsibility of accounting for VAT from the supplier to the recipient of certain construction ... Read news article
At the moment hotel owners are able to reclaim the VAT on deposits paid by customers who lose their deposits due to cancelling a booking, on the basis that no supply has taken place.
The change from 1 March 2019 is, where a hotel retains a deposit... Read news article
At the time of writing this blog there are 53 days to go until the start of Making Tax Digital, so here’s what you need to know.
1 Who does it affect – Most VAT registered businesses with very few exceptions
2 How will it affect me – For ... Read news article
The EU created the concept of Reverse Charging VAT in order to simplify trade within the Single Market. This affects most of the sale of goods and services between EU member states. The principle of the Reverse Charge rule is that it shifts the liabi... Read news article
The government are gradually phasing out the self-assessment tax return and replacing it with an individual tax account pre-populated with data supplied by employers, pension companies and State Pension figures from DWP.
With effect from April 201... Read news article
The P11d benefits on company vans are generally much lower than company cars and where private use of the van is merely incidental to its business use by the employee, then there is no taxable benefit at all. But when is a van not a van?
In a rece... Read news article
HMRC have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HMRC that the amount allowed as a deduction should be lim... Read news article
The next Finance Bill will include legislation to reduce significantly the taxable benefit on the provision of low CO2 emission cars from April 2020.
From 2020 there will be a 2% benefit in kind for company cars that emit no CO2 such as electric a... Read news article
Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that ... Read news article