by AccountingPreneur | Jan 8, 2021 | Tax
Making Tax Digital for all VAT registered businesses is coming into force as from 1 April 2022, irrespective of turnover level. Please watch the video below and get in touch with us to see how we can help... 
by AccountingPreneur | Dec 16, 2020 | Tax
HOW ABOUT A VIRTUAL CHRISTMAS PARTY? HMRC are not the Grinch after all. They have recently announced that employers may arrange a “virtual” Christmas party this year and there will be no taxable benefit for employees provided that all staff are invited and the cost... 
by AccountingPreneur | Dec 5, 2019 | Tax
Where possible higher rate taxpayers should “Gift Aid” any payments to charity to provide additional benefit to the charity and for the individual to obtain additional tax relief on the payment. For example where an individual makes a £20 cash donation to charity the... 
by AccountingPreneur | Nov 13, 2019 | Directors' Loan Account, Tax
In a recent Tax Tribunal case the judge agreed with HMRC that a detailed breakdown of directors loan account transactions is required, including dates. The significance is that where the loan account is overdrawn (debit balance) there may be a possible P11d benefit on... 
by AccountingPreneur | Jul 18, 2019 | Tax
There is a proposed introduction of ‘off-payroll’ to the private sector which comes into force in April 2020. The changes involved is the way that Contractors, operating via Personal Service Companies, more commonly known as Ltd companies, will be paid.IR35... 
by AccountingPreneur | Jul 9, 2019 | Tax
Under new rules due to come in on 1 October 2019 builders, sub- contractors and other trades associated with the construction industry will have start using a new method of accounting for VAT.Under the new rules, supplies of standard or reduced-rated building services... 