From 1st March 2021 new rules for VAT in the construction sector are set to be introduced. These rules are commonly known as domestic reverse charge for construction services. These changes were first announced in 2017 and were due to be implemented originally in 2019 but deferred, first to October 2020 and then again to 1st…
As a company director, not only is there a responsibility to submit accounts to HMRC and Companies House but also to submit an annual statement called the confirmation statement. Previously this was known as the annual return.
Over the past 9 months we’ve seen firsthand the number of companies suffering losses on business operations due to the effects of coronavirus.
The most pressing tax deadline for now is the main filing and payment deadline, of 31 January.
The rate of VAT on services supplied to non-business customers in other EU countries normally depends on where the supplier is located or, for services related to land, where the land is located.
In July 2020 the Chancellor of the Exchequer asked the Office of Tax Simplification (“OTS”) to carry out a wide-ranging review of Capital Gains Tax (CGT). The OTS has made a number of significant recommendations. Many of the recommendations are not new and many of them seem to involve reintroducing concepts in CGT that have…
The hospitality and attractions sectors are enjoying a special 5% VAT rate which applies from 15 July 2020 to 12 January 2021.
A new online system for paying and declaring CGT within 30 days of completion for sales of residential property was introduced from 6 April 2020. CGT online applies to all sales of UK homes where exchange and completion occurred after 5 April 2020. Sellers who are not tax-resident in the UK must report all UK…
