MTD (Making Tax Digital) VAT Returns are compulsory for returns with a filing date of 7 August. If you haven’t registered you may find your VAT Return is blocked when you try to file it. If this happens to you, don’t panic. You can contact us ... [Continue Reading]
Is there confusion over Trivial Benefits exemption?
If HMRC aren’t clear about the Trivial Benefits rules, who is? A host at an HMRC webinar was explaining the tax position for low cost perks. She proceeded to say that snacks regularly provided by an employer aren’t exempt. She was in fact ... [Continue Reading]
VAT on business cars
In most circumstances, VAT cannot be reclaimed on the purchase of a car (commercial vehicles are different). There are a few exceptions to the block, for example special purpose cars such as purpose-built taxis and driving school vehicles. This ... [Continue Reading]
MTD – Making Tax Digital
HMRC is sending letters about MTD (Making Tax Digital) to all businesses in the Loughborough area which are registered for VAT and have a turnover in excess of the VAT threshold of £85,000. The letter is basically saying that MTD is coming and your ... [Continue Reading]
Budget summary 2018
Phillip Hammond has delivered his third budget as Chancellor. What does the budget mean for you? Personal taxation and wages National living wage will be increased by 4.9%. It will go from £7.83 to £8.21 an hour in April ... [Continue Reading]
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