by David Winfield | Mar 9, 2020 | Accounting News, Uncategorized
Return of the two-tier NI threshold New rates. The government has announced the rates and thresholds for NI contributions for 2020/21. There’s nothing startling about them with one important exception; there will be two NI earnings thresholds (ETs). While in 2017 the...
by David Winfield | Feb 11, 2020 | Accounting News
If you missed the 31 January deadline for self-assessment HMRC will fine you £100 and more if you continue to delay. It will cancel the penalty if you have a reasonable excuse but if you don’t have one is there another way to dodge a fine? Must you file a tax return?...
by David Winfield | Jan 7, 2020 | Accounting News, Uncategorized
Business entertainment Income tax, corporation tax and VAT legislation each contain a similar rule which blocks a tax deduction for “business entertainment” costs. This includes hospitality of any sort. A common example is where a business provides food and drink for...
by David Winfield | Nov 4, 2019 | Accounting News
Separating from your spouse (for VAT purposes) You and your spouse run separate businesses, each trading below the VAT registration limit. The trouble is HMRC can argue that the businesses should be treated as one. What did a recent First-tier Tribunal have to say...
by David Winfield | Mar 11, 2019 | Accounting News, Uncategorized
Making tax digital for VAT legislation requires you to have “digital links” between your financial data and the quarterly VAT reports. What changes might you need to make to your record keeping to achieve this? Why digital links? VAT law offers no explanation of what...
by David Winfield | Dec 14, 2018 | Accounting News
HMRC has launched an online tool which allows you to check if you need to submit a tax return for 2017/18. It’s easy to access, simple to use but very misleading. What’s the full story? Tax return required? HMRC’s latest online tool, launched on 28 November 2018, aims...
