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]
VAT and Disability
It’s not surprising that we are regularly asked about charging VAT when it comes to disability. The rules are complex and there are a lot of grey areas. We have a very professional team here at Central Business Services that will be able to discuss ... [Continue Reading]
Changing priorities at HMRC
By having an Accountant who keeps up to date with changes to the tax system means you will always be kept in the 'know'. At Central Business Services we keep up to date with the legal requirements to ensure you pay the right taxes ... [Continue Reading]
Take advantage of tax exemptions for trivial benefits whilst you can!
The exemption for trivial benefits for this year will end on the 5th of April - at the end of the 2017/18 tax year. So make sure you take advantage of the enticing range of tax free perks whilst you can! UPDATE - The Trivial Benefits allowance ... [Continue Reading]
Changes to buy to let tax in April 2018
2017/18 marked the start of changes linked to the restriction for tax relief on finance costs. This year, on 6 April 2018 the next set of changes are happening. In the nutshell it's all about finance costs and the associated tax relief. So who do ... [Continue Reading]
The rules on Christmas gifts and parties
Christmas is coming and every year we are asked the same questions about gifts to customers and staff. As far as HMRC is concerned there’s nothing special about Christmas! The usual direct tax and VAT rules apply to gifts. We have put together this ... [Continue Reading]
