The government has announced that Making Tax Digital for the Self-Employed and Landlords will be delayed to April 2024. This is a year later than originally planned. From 6th April 2024, for all self-employed businesses and landlords with a turnover of over £10,000, the Self-Assessment Tax Return is due to be replaced by Making Tax […]
Tax relief is available to employees who are required to work from home on a regular basis for some or all of the week on the additional costs that they incur. However, you cannot claim tax relief on these costs if your employer has either directly reimbursed your expenses or paid you an allowance to […]
For individuals with disposable income, making Venture Capital investments is growing in popularity, mainly through the Enterprise Investment Scheme (EIS) or Seed Enterprise Investment Scheme (SEIS). Under the schemes, the government is encouraging investment in eligible companies by offering a range of tax reliefs to investors who purchase new shares in those companies. The initial […]
One of the proposals that was announced in the Budget was to provide a temporary extension to the loss carry back rules for trading losses of both corporate and unincorporated businesses. This newsletter looks at how the changes will apply to a Limited Company and next week we will be looking at the impact on […]
The Treasury has issued more guidance on The Recovery Loan Scheme. However, many questions remain unanswered. The Recovery Loan Scheme is designed to ensure businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing COVID-19 loan schemes close. Interestingly, “the finance […]
We look at the VAT rules on the provision of services from the UK to business customers in the EU.
Under VAT reverse charge, if you are customer, you need to credit your VAT account with an amount of output tax, calculated on the full value of the supply that you have received, and at the same time debit your VAT account with the input tax to which you are entitled, in accordance with the […]