Business News

Trading in goods with the EU – import VAT & duties

We return to the subject of trading in goods with the EU. This time we outline the arrangements for paying import VAT and duties. You can read Part One here. As a UK VAT registered business, you will be able to account for import VAT on your VAT returns for both goods...

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Trading in goods with the EU

We will be issuing a series of articles as we approach 1st of January 2021 when the transitional arrangements for the UK leaving the EU end. There are a number of challenges you face as a business owner in the coming months and many of you are no doubt watching the...

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New Self Employed Income Support Scheme – do you qualify?

Self-employed businesses that continue to be adversely affected by Coronavirus may qualify for the new Self Employed Income Support Scheme (SEISS) three-month grant of 70% of average profits capped at £6,570. In order to qualify for the new SEISS, your business needs...

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HMRC delays second phase for Making Tax Digital (MTD) scheme

As UK businesses deal with the pressures of COVID-19, more stringent rules around digital links for HMRC’s Making Tax Digital (MTD) scheme will no longer be introduced as planned this year. Instead, the requirement will come into effect from April 2021 onwards, giving...

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Could inheritance tax be reformed In the Budget?

If any one mainstream tax is likely to see major changes in this year’s Spring Budget, inheritance tax appears to be the most obvious candidate. It’s generally regarded as unpopular and convoluted, with many people disagreeing in principle with the very idea that...

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Property tax changes from April 2020

There are new tax reporting and payment rules that will apply from April 2020 on the sale of residential property by individuals, partners and trustees. These rules do not apply to the sale of the family home but will apply to second homes including those co-owned...

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Be prepared! HR and capital gains tax changes due in April

It’s a new year and businesses need to plan ahead for major changes taking place in HR and Capital Gains Tax (CGT). It is of the utmost importance that clients, businesses and individuals consider these, take expert advice and then act well in time before they come...

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