VAT – The New Reverse Charge on Building and Construction

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

Why is an Accountant Good for my Small Business?

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?

Law changes on tips for waiters

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

HMRC helps teenagers prepare for the world of work

Last June HM Revenue and Customs launched two educational videos which are aimed at preparing teenagers for working life. One of the videos will help 14 to 17 year olds understand what it means when they receive their national insurance number and the benefits of using a personal tax account. The other new video is… Continue reading HMRC helps teenagers prepare for the world of work

Tax Reminder 19th February 2019

The following Tax Events are due on 19th February 2019: Business Tax Events PAYE, Student loan and CIS deductions are due for the month to 5th February 2019 This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. Employers are… Continue reading Tax Reminder 19th February 2019

Have you been taxed for your vacation job? If you’re a Student, you will more than likely be able to claim the tax back.

If you have a job when you’re a student you may need to pay Income Tax and National Insurance. You have to pay: Income Tax if you earn more than £958 a month on average - this is your Personal AllowanceNational Insurance if you earn more than £157 a week Your employer will usually deduct Income Tax and… Continue reading Have you been taxed for your vacation job? If you’re a Student, you will more than likely be able to claim the tax back.

Do you wear a uniform or protective clothing for work? If so you could get some tax back from HMRC

What is a uniform? Specialised clothing that is recognisable as a uniform or identifies you as having a particular occupation, it could be a branded T-shirt or a full on police/nurse uniformYou are required to wear it at work and clean and repair it yourself  - however if your employer provides this facility you cannot… Continue reading Do you wear a uniform or protective clothing for work? If so you could get some tax back from HMRC