Under standard VAT accounting, you pay VAT on your sales regardless of whether your customer has paid you. Under the Cash Accounting Scheme, VAT does not need to be paid over until your customer has paid your invoice.
Your business can enter this
If your income is expected to exceed £100,000 for the first time, we would like to remind you of the effect this can have on your personal allowance and marginal tax rate.
If you earn over £100,000 in any tax year your personal allowance is
The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell certain residential property changed from 6 April 2020. This change meant that any CGT due on the sale of a residential property needs to be reported and a payment on
The government has published further guidance on how the forthcoming Job Retention Bonus Scheme will operate. The scheme will enable eligible employers to claim £1,000 for each eligible employee in respect of whom they have previously made a
Over the past few months, HMRC has unveiled a package of measures to accelerate the growth of the UK's customs intermediary sector. These announcements included £50 million of new funding to support businesses with recruitment, training and
£20 million worth of new government grants have been released to help small and medium sized businesses across England recover from the effects of the Coronavirus pandemic. These grants will provide businesses between £1,000 and
The Competition and Markets Authority (CMA) launched a COVID-19 taskforce back in March 2020 to identify any commercial practices that adversely affect consumers and to consider appropriate responses to help businesses comply with the law and protect
Vehicle owners with a MOT expiry date between 30 March 2020 and 31 July 2020 were given a 6 month extension. This measure was designed to help motorists as the Coronavirus pandemic began to take hold. Mandatory MOT tests for car, motorcycle and van
Lockdown changes – in England – that were due to come into effect on 1 August 2020, have been delayed until at least 15 August. The last-minute announcement by the Prime Minister, Boris Johnson, followed worries of a rise in COVID cases and means
The government has announced that more small businesses will benefit from the Coronavirus Business Interruption Loan Scheme (CBILS). Under the scheme, borrowers can apply for up to £5 million in finance in the form of loans, overdrafts, invoice