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Two EU countries announce rises in VAT rates

by | Aug 23, 2014 | ACCA, VAT

Both Luxembourg and Portugal have announced that they will be raising their respective standard rates of VAT from the beginning of 2015. Portugal will be raising it by 0.25% to 23.25% and Luxembourg by 2% to 17%. Even after the proposed increase Luxembourg will...

The non-resident landlord scheme – Under which circumstances should tenants pay their landlord’s rent direct to HMRC?

by | Aug 20, 2014 | ACCA, personal taxatation, property taxation, residence and non residence

There is an obligation on letting agents and tenants to operate the non-resident landlord scheme (NRL scheme) under certain conditions. Letting agents of a non-resident landlord must: deduct tax from the landlord’s UK rental income; and pay the tax to HMRC. Tenants...

New UK GAAP: deferred tax

by | Aug 10, 2014 | ACCA, financial reporting

FRS 102 and new UK GAAP are getting closer with the implementation date of 1 January 2015 now less than six months away. Changes could impact on profits and net assets. It is important to get to grips with the main areas that will change under the new GAAP.  Apart...

Preparing firms for flexible working

by | Aug 7, 2014 | ACCA, business issues

Employees now have the right to request flexible working. What does this mean for small businesses? There have been changes to the right to flexible working from 30 June 2014. The changes are hard to miss with both politicians and business communities publically...
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