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BREXIT No man’s land

Saturday 18 May. Do you remember just a few weeks ago, when BREXIT was the only thing in the news for months on end. Now, post Easter the silence has been deafening. When they start moving, events move quickly in the world of BREXIT. I originally wrote this post last Monday and no sooner had… Read More

The tax impact of BREXIT Part 2 – VAT

Part 2 of my BREXIT tax review focusses on Vat, which will be the main tax area impacted by the UK’s impending exit from the EU. The main BREXIT tax focus is on VAT of course, because this is a tax that crosses borders and the UK has been part of a so-called unified VAT… Read More

The tax impact of BREXIT Part 1

In this brief and very welcome Brexit news hiatus, I thought it was worth a quick check back on trying to understand the tax effects of Brexit. In this first post I will quickly mention corporation tax, income tax and payroll taxes, leaving the main event, VAT, for Part 2. Corporation tax Brexit has placed… Read More

BREXIT – Happy Easter, give us a break

Following the recent rejection of the Withdrawal Bill element of Mrs May’s BREXIT deal (meaningful vote 2.5), talks have been ongoing with Labour to find a way forward. Nothing has come of this so far and one could summise that Mrs May really just needed to go to the EU summit on 10 April with… Read More

Gift Aid – Have you made your claim?

Charities and Community Amateur Sports Clubs (CASC’s) are potentially able to recover 25p for each £1 of donation they receive. To be eligible to register with HMRC to claim gift aid you must be either a UK CASC, or a charity based in the UK (or the EU, Iceland, Liechtenstein or Norway – pre Brexit),… Read More

IR35 and off payroll workers from April 2020

Changes are being introduced from April 2020 to off payroll workers in the private sector, relating to engagements with large and medium sized companies where a contractor provides services through a personal service company. The decision whether to apply the rules falls with the engager as it does already for contracts with the public sector…. Read More

When to sign up to Making Tax Digital?

You will no doubt be aware by now that Making Tax Digital (MTD) went live for VAT return periods beginning on or after 1 April 2019.  This is a mandatory requirement for the vast majority of VAT registered businesses with a taxable turnover over £85,000. What you may not know is that you will need… Read More

BREXIT – The end game is in play

Wednesday 3 April 2019 and the whole BREXIT process has descended into unprecedented chaos in Westminster. After two bouts of indicative votes on BREXIT alternatives, producing twelve NO votes and two and a half failed attempts at getting Mrs May’s deal, or the legal part of it, through the House, the limit seems have been… Read More

What examination of your charity accounts do you legally require?

We are all creatures of habit and know how easy it is to continue doing things in a certain way because “that’s what we’ve always done”. The same habits can be applied to the preparation and examination of the year end financial statements. For some charities, there is no need to revisit what level of… Read More

Charities – Are you ready for Making Tax Digital?

There has been much news regarding being prepared for Making Tax Digital for VAT (MTD-VAT). VAT registered entities (charitable or not) with turnover above the VAT threshold (currently £85,000) will need to keep their records digitally and send their VAT return data to HRMC using MTD-compatible software for VAT periods commencing on or after 1… Read More

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