By Tom Maxwell In Advice, Blog, News, Tax TipsPosted 13/08/2020 Changes to import VAT from 2021 As of 1 January 2021 the VAT treatment of imported goods is changing. Until then the current rules apply and change depending on if the goods are imported from EU or non-EU countries. Postponed [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 05/08/2020 COVID-19 update – 5 Aug – Eat out to help out check your understanding of discounts and VAT As the Eat Out to Help Out Scheme launches this week, businesses are urged to ensure they understand the interaction between the discount and the VAT being charged. HMRC has issued [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 05/08/2020 COVID-19 update – 5 August – Overclaimed COVID grants We strongly advise those who have received CJRS or SEISS grants to double-check their entitlement now that the 90-day period to inform HMRC of any overclaimed amount has become law. The law [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 31/07/2020 COVID-19 Update – 31 July – Furloughed employees to receive full redundancy payments Today the government are introducing new legislation to ensure furloughed employees who are made redundant receive redundancy pay based on their normal salary rather than the reduced furlough [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 28/07/2020 COVID-19 Update – 28 July – How to claim money back through Eat Out to Help Out Scheme The government has released more guidance on how businesses can claim the money back for the discount that have been given to diners. If you have registered for the scheme, you will be able t [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 27/07/2020 COVID-19 Update – 27 July – VAT rate cuts for hospitality HMRC have now issued guidance on for the temporary 5% reduction of VAT to support the hospitality sector and here is what we know. The reduced rate will apply from the 15 July 2020 to 12 January [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 27/07/2020 COVID-19 Update – 27 July – Deadline approaches for reporting CGT on UK residential property To avoid a penalty, you must report and pay any Capital Gains Tax on disposals of UK residential property within the new rules by 31 July. The new requirement to report and pay capital gains tax [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 22/07/2020 COVID-19 Update – 22 July – Capital Gains Tax and Making Tax Digital Capital Gains Tax Under Review The Chancellor has asked the Office of Tax Simplification (OTS) to carry out a review of CGT to identify simplification opportunities. Inevitably, as the cost of [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 15/07/2020 COVID-19 Update – 15 July – Warning of increase in tax-related telephone scams With July income tax payments on account coming up (but deferrable) and with reference to deferred business taxes and furlough claims etc, it is worth reiterating the need for vigilance against [...] 0 Read More
By Tom Maxwell In Advice, Blog, NewsPosted 14/07/2020 COVID-19 update – 14 July – VAT reductions The government have released more information on the temporary VAT reductions and here is what we know. The temporary 5% reduced rate will apply to certain supplies relating to hospitality, hotel [...] 0 Read More