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VAT – Reimbursement or disbursement

by | Jul 8, 2019 | ACCA, VAT

Knowing the difference is important in getting the right VAT treatment. The difference between reimbursement and disbursement is significant from the VAT point of view as reimbursements are subject to VAT, while disbursements are outside the scope of VAT. If a...

Post-cessation expenses

by | Jul 5, 2019 | ACCA, business taxation

A close look at post-cessation expenses claims can save traders money. Post-cessation receipts are taxable income of the person when they receive them, similarly relief may be available for post-cessation expenses. To make a successful claim for an allowable...

MTD vs digital records

by | Jul 3, 2019 | ACCA, VAT

An insight into what could be termed as ‘digital records’ under MTD. With effect from 1 April 2019, if your taxable turnover is above the VAT registration threshold (currently £85,000), you are required to continue to keep digital records and send HMRC...

Law breaking employers targeted

by | Jun 27, 2019 | ACCA, pension reform, pensions

The Pensions Regulator launches new campaign. In the coming weeks, The Pensions Regulator (TPR) will be targeting its new wave of compliance checks at employers across the UK who are suspected to be non-compliant with their automatic enrolment duties. Employers are...

Tax free childcare

by | Jun 18, 2019 | ACCA, personal finance, personal taxatation

Scheme could reduce childcare costs by up to £2,000 per child per year. Childcare vouchers (and directly-contracted childcare) were withdrawn for brand new applicants from 4 October 2018. Those who had not already signed up for childcare vouchers previously must have...

Payment services authentication

by | Jun 13, 2019 | ACCA, business issues

Are you preparing for an extra layer of authentication for online payments? In September, Strong Customer Authentication (or SCA) will have significant implications on how all businesses handle online transactions in the European Economic Area (EEA), where both payer...

AIA – a reminder

by | Jun 11, 2019 | ACCA, business taxation

Annual Investment Allowance is a scheme for business tax payers – companies, partnerships and sole traders – to offset capital expenditure on plant and equipment – but not cars – against tax.  The thresholds have a history of changing in recent...

MTD well underway

by | Jun 6, 2019 | ACCA, business issues, VAT

The latest guidance now the first quarter is well underway. The first quarter is now well underway, covering 1 April to 30 June. VAT 700/22: Making Tax Digital for Vat has been updated with guidance on a number of areas added, covering supplier statements, petty cash...
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