If you are a VAT registered CIS (Construction Industry Scheme) contractor or subcontractor, the way you deal with VAT is changing from 1 October 2019. Under the new rules, you will not charge VAT to your customers, therefore will not receive payment of the VAT, and will not pay the VAT to HMRC. It will… Continue reading VAT – The New Reverse Charge on Building and Construction
From 1 October 2019 a new VAT reverse charge comes into effect for building and construction services, where payments are required to be reported under the Construction Industry Scheme. Broadly it means that when a business receives a supply of building and construction services for onward sale, the recipient of the services (the contractor) accounts… Continue reading VAT Domestic Reverse Charge for Building and Construction Services
Accountants can sometimes be seen as too expensive, or a luxury only needed for bigger companies, but there are a number of ways in which accountants are helpful for even the smallest of businesses. Saving Tax I was speaking to a business owner recently who had prepared his own accounts and tax return for a… Continue reading Why is an Accountant Good for my Small Business?
You may have missed that 2018 saw the first National Numeracy Day in the UK. No need to miss out again as it takes place again this year on May 15. Click Here https://www.numeracyday.com/ Many of our clients will profess to not being paper-work people. Not a problem as it is part of what we… Continue reading Numbers
If you are entitled to Working Tax Credit or are receiving Universal Credit, or know someone who is, then this could be for you. The “Help to Save” is a type of savings account; it allows people who are entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1… Continue reading Get help with saving.
Now that the Tax Return season has ended you may receive an email claiming you are due a tax refund. Be aware that it’s a scam to steal your personal details. Criminals are targeting the millions of people who file Self-Assessment Tax Returns online. The fraudsters are sending fake emails purporting to be from HMRC… Continue reading Tax Refund Scams – What to look out for
Restaurant owners are now banned from deducting money from tips earned by waiters and other staff. Tips can be paid to employees using the following methods: Cash received direct from a customer This is an allowable method of receiving tips, however the person receiving the tip is responsible for declaring and paying tax on the… Continue reading Law changes on tips for waiters