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]
VAT and catering
Are you Confused about VAT on your sales? You are not the only one. The rules surrounding food and catering can be tortuous, especially if you have only registered recently and therefore new to the regime. Here at Central Business Services we can ... [Continue Reading]
Saving VAT on your buy to let
You are intending to invest in a residential property with the view to buy to let. You’ve decided on a property that needs a fair amount of work done to it. Is there an opportunity to pay less VAT? Buy to let businesses Changes to the tax rules ... [Continue Reading]
Annual Accounting for VAT
As the name suggests, VAT annual accounting is an HMRC scheme, that allows you to submit a single VAT return each year instead of the usual four. Although this may seem appealing it is important to know that by going into the scheme, you will ... [Continue Reading]
