Businesses which import or export goods will be aware of the difficulties that leaving the EU with no withdrawal agreement in place will cause them. However, other businesses will also be affected by immediate changes to the VAT system.
All VAT registered businesses with annual taxable turnover exceeding £85,000 must comply with the making tax digital (MTD) rules for VAT
The cost of acquiring your business premises may be written off in your accounts, but for many years those costs have been disallowed for tax purposes so there is no tax relief until you sell the building.
This is our Spring 2019 Tax Briefing
Most VAT registered traders will be required to file their VAT returns using MTD-compliant software for VAT periods beginning on and after 1 April 2019.
You are probably too busy running your company to think about your pension . . .
Most people understand that when you sell your main home the profit you make on the sale is exempt from tax
This is our Winter 2018 tax briefing
When you sell a business or shares in your personal company, the gain made on that disposal will normally qualify for entrepreneurs’ relief which applies capital gains tax (CGT) at 10%.
The government wants to encourage businesses to invest in plant and equipment to help them grow their operations and operate more efficiently.
Where an individual works through his or her own personal company to provide services, such as IT consultancy, that company must abide by the “IR35” rules
There were rumours before the Budget that the VAT registration threshold would be reduced, but the Chancellor has committed to hold it at £85,000 until April 2022.