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No deal Brexit – impact on VAT

by | Mar 4, 2019 | ACCA, business issues, VAT

HMRC sends letter outlining the impact of a no deal Brexit on VAT. You will have noticed that HMRC continues to urge VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. It has sent a letter to 145,000 VAT-registered...

Intellectual property after Brexit

by | Mar 1, 2019 | ACCA, business issues

BEIS has issued guidance for businesses called Intellectual Property after Brexit. The guidance states that the IP after Brexit will affect your business if you: ‘currently own IP, such as copyright, patents, designs and trade marks are involved in the secondary...

HMRC Open up the MTD for VAT pilot to all customers

by | Feb 13, 2019 | ACCA, VAT

The MTD for VAT pilot is now open to all. The MTD for VAT pilot is now open to all who will be mandated to use the MTD service from April. HMRC has stated that ‘The pilot is progressing well – over 3,500 businesses have already joined and we have seen a dramatic...

Pensions for self-assessment

by | Feb 7, 2019 | ACCA, pensions

Make sure you get the correct tax relief for pension payments. Pension contributions can be a complicated area but thankfully for self employed people with personal pensions it should be fairly straightforward.  However, many clients do not understand exactly how the...

VAT on digital services

by | Feb 6, 2019 | ACCA, VAT

HMRC issues updated guidance on VAT on digital services. HMRC has updated its guidance on VAT place of supply rules for business that sell digital services to private consumers in the EU. The changes apply from 1 January. For businesses established in the UK the rules...