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Latest news, insights, and expert advice for UK businesses.
Class 2 NICs to Continue for Self-Employed
In 2016 the government consulted on a proposed abolition of Class 2 National Insurance contributions (NICs) for the self-employed. This...
Renting out a Room? Don’t Forget to Claim ‘Rent a Room’ Relief
HMRC are carrying out a review of rent a room relief to discover whether the scheme, introduced back in 1992...
Additional Conditions for Rent a Room From 6 April 2019
Rent a room relief was introduced in 1992 to offer a wider range of low cost rented accommodation to individuals,...
Are You Ready for the Self-Assessment Deadline?
A self-assessment is a tax form that provides HMRC details of an individual’s income and expenditure to calculate tax owed...
You May Have to Pay Your Debtors Unpaid VAT
HMRC have recently updated VAT notice 726, a regulation that strongly advises traders to carry out due diligence on their...
More Details on Hospitality VAT Reduction
There was a number of areas that needed clarification when the Chancellor announced a temporary cut in the rate of...
VAT Reverse Charge: Does it affect you?
The Government is introducing a VAT reverse charge on certain building and construction services. The legislation will come into effect...
No Deal Brexit and its Impact on VAT
The government and HMRC have recently updated their ‘partnership packs’. The packs were created with the intention of helping businesses prepare...
VAT Guidance Issued on Making Tax Digital (MTD)
HMRC has now issued detailed guidance on record keeping and return requirements for Making Tax Digital (MTD). VAT Notice 700/22 clarifies that...
New VAT Rules for the Building Trade
Due date for the legislation Under new rules due to come in on 1 October 2019 builders, sub-contractors and other...