Bookkeeping, Accountancy and Taxation services
What to consider when registering for VAT? Currently the VAT threshold is £85,000 this is based on a rolling 12 months (not the tax year or your financial year). If you think you will reach registration in the next month you must register. Do … Continue reading Helping You Understand VAT Registration Requirements
Croner-i tax adviser Alexander McCarthy answers the following tax question... A client is a trading company and due to trading difficulties in the current year, they have made a loss in their trade, which they will carry back to the profitable … Continue reading Ask The Experts: Company Rental Losses
VAT Expert Rachel Clarke advises on the following question raised by a client. A client has bought electric cars which will be used for both business and private purposes. How should we treat the input tax recovery on the charging … Continue reading Ask The Experts: Electric Car Charging
VAT paid in other countries is often recoverable by VAT-registered businesses in the UK, who bought goods or services for business use. The rules that govern what VAT is refundable depend on the other country's rules for claiming input tax. It is … Continue reading Claiming an overseas VAT refund
With more and more businesses re-opening across the UK and a greater number of employees returning to the workplace, how can you support staff with long Covid, and what are the symptoms to look out for?. Given that the Office for National … Continue reading Ask The HR Experts- Long Covid
You can voluntarily register whenever you like. However, unless your ‘trade’ is exempt, all businesses must register for VAT if its turnover (your sales) exceeds the threshold and will do so within the next month. The turnover is calculated not … Continue reading Who ‘Has’ to register for VAT?
VAT is one of the most complicated taxes and at times may seem silly! Lets take two examples:- Milk and fruit have no VAT. So when you make a Strawberry Milkshake there is no VAT applied. HOWEVER, if you make a Chocolate … Continue reading How do you know what is VAT allowable?
The HR experts at Croner Taxwise advise You will need to determine why the employees are reluctant to return. Once this has been established, on a case-by-case basis, the right kind of conversation can then be had with each employee – keeping … Continue reading Do you have employees who are reluctant to return to the workplace?
Sally Atkins, VAT consultant at Croner Taxwise explains the options available to importers for dealing with import VAT post-Brexit, following confusion regarding the difference between a VAT deferment account and a new reverse charge. There are … Continue reading VAT Experts Discuss Post-Brexit Import VAT Procedures
Two companies owned by a client have an intercompany loan that has become partially unrecoverable due to a fall in value of the underlying investment property. Both the loan and the investment property use fair value accounting under … Continue reading Tax Experts Discuss – Fair Value Adjustments & Tax
RentMy.com have just launched a regional pilot of their peer to peer rental platform with ambitions to become the Airbnb of everything you own! RentMy gives users the opportunity to have a much-needed financial boost – particularly important given … Continue reading Client Spotlight: RentMy
An Overview All ‘workers’ must be paid the National Minimum Wage (NMW) – workers may work on different contracts such as full or part-time, zero-hours, but they must all be paid the NMW. Self-employed people are an exception to this as they … Continue reading Payroll Changes To Look Out For In April
