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For over 20 years the government has viewed independent contractors as tax avoiders if they work through their own Personal Service Company (PSC). This is why the IR35 rules were put in place – to get the contractor to pay approximately the same tax and ...

Many businesses start slowly. At first there are a few occasional sales, and only after the individual has convinced themselves they can effectively deliver the product or service will the entrepreneur enthusiastically launch their business. You should tell HMRC about the start of your new ...

Leaving the EU without an agreement in place (no-deal Brexit) is going to create some VAT challenges for businesses which import goods. Currently, import VAT is payable on goods imported from non-EU countries, and that has to be paid up-front. This import VAT would also ...

Where individuals don’t submit an annual tax return, HMRC reconciles the tax which has been deducted from their pay or pension under PAYE with the total tax which should have been paid for the year. This reconciliation for the tax year 2018/19 takes place between ...

When you order goods online you don’t expect to pay any additional taxes when they are delivered. This is currently the case for goods ordered from a supplier in the UK or the EU. However, if you order goods from outside the EU you may ...

The Government is urging businesses to prepare for changes to customs, excise and VAT procedures when the UK leaves the EU. This is expected to happen at 11pm on 31 October 2019, but there could be a further delay until 31 January 2020. If there ...

We are living in a state of unprecedented uncertainty. We don’t know if the UK will leave the EU on 31 October 2019 or not, although at the time of writing the current Prime Minister insists that this is the immoveable Brexit date. There may ...

Under the Making Tax Digital (MTD) rules, businesses must use software to submit their VAT returns unless their annual turnover is less than £85,000. If you have acquired new accounting software to comply with MTD for VAT, it’s worth checking whether it’s been set up ...

If you don’t submit your VAT return on time, or fail to pay the VAT due on time, HMRC will put your business on the fiscal naughty step. HMRC should tell you that your business is on its watch list by sending you a Surcharge ...

There are two valid reasons to cancel your VAT registration: • you have ceased trading and have no intention of making future sales• your sales in the next 12 months are expected to be less than £83,000 If your turnover for the last 12 months ...

VAT registered businesses who need to file VAT returns under the Making Tax Digital (MTD) rules, also need to keep all of their VAT records in a digital format. This can be in a spreadsheet or in accounting software. You don’t have to take a ...

If you provide your personal services through your own company you may be familiar with the IR35 rules, which have been around for nearly 20 years. Those rules are designed to discourage avoidance of PAYE and NIC by organisations who engage workers through personal service ...