Bookkeeping, Accountancy and Taxation services
A sole trader client has been running their decorating business for three years and is now incorporating. With contractors as customers, he intends to VAT register the limited company. Is the client able to recover VAT on his limited company … Continue reading Recovering VAT Incurred Prior To VAT Registration
Monthly Repeated Dates 19th of each month. Construction Industry Scheme (CIS) deadlines monthly returns Monthly payment of PAYE/Class 1 NICs if by non-electronic methods 22nd of each month. Online payments – the (or the 19th for … Continue reading Important Dates
SAYE is a savings related scheme where employees of participating companies - with share option schemes - can save to buy shares at a discount. SAYE's are approved by HMRC who allow employees to make contributions and buy shares at a future date … Continue reading Employee Benefits: Save As You Earn Scheme
As the Country begins to reopen following the pandemic, what is the position for employers who want to test employees before they return to work? As an employer, there is nothing in the law that allows you to enforce testing on your employees. If … Continue reading Can Employers Force Employees To Take A Coronavirus Test?
HMRC specify that losses for individuals and partners are defined as follows; If you’re self-employed or a member of a trading partnership you’ll usually make a loss when your trading expenses exceed your trade income.If you're a partner, your … Continue reading Setting Off Losses For The Self Employed
People start a business because they have a particular skill set whether learned from work experience in a job or a hobby that has potential to expand in to an income generating activity. Deciding how you will structure your business is important … Continue reading MJB Avanti Case Study: Sole Trader Vs Ltd Company
A voluntary VAT deregistration can be made if you do not expect your taxable turnover to exceed the VAT deregistration limit. The current deregistration limit is £83,000. If you are running a small business that has been adversely affected by the … Continue reading VAT Deregistration
A higher rate of Stamp Duty Land Tax (SDLT) applies to purchases of additional residential property such as buy to let and second homes. SDLT is a tax that is generally payable on the purchase or transfer of land and property in England and Northern … Continue reading Higher rates of SDLT on residential property
The deadline for submitting the 2019-20 forms P11D, P11D(b) and P9D is 6 July 2020. Employees must also be provided with a copy of their P11D by the same date. Employers pay Class 1A National Insurance contributions on most benefits. If you … Continue reading P11d Filing Deadline Approaching
To mark the 50th anniversary of the introduction of equal pay laws, ACAS has published new guidance to help employers and employees understand the law around equal pay. The guidance is divided into three sections, we explore the sections … Continue reading Equal Pay Guidelines
HMRC have confirmed that the introduction of the domestic reverse charge for construction services will be delayed for a period of 5 months from 1 October 2020 until 1 March 2021 due to the impact of the coronavirus pandemic on the construction … Continue reading CIS Reverse Charge Delayed
Monthly Repeated Dates 19th of each month. Construction Industry Scheme (CIS) deadlines monthly returnsMonthly payment of PAYE/Class 1 NICs if by non-electronic methods 22nd of each month. Online payments – the (or the 19th for … Continue reading Important Dates
