Archives for All News

U-turn on start date for construction industry reverse charge VAT welcome

HMRC has bowed to pressure and has announced a one-year delay to 2020 to the introduction of reverse charge VAT in the construction sector, due to be implemented next month after industry bodies and accounting specialists highlighted concerns about lack of preparation and the impact on businesses. We see this as a welcome move given that the evidence shows many firms were either unaware or unprepared for the move. A Federation of Master Builders (FMB) survey of around 8,000 SME construction firm members found that 69% were not aware of reverse charge VAT at all. Of those who were, 67%
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July 2019 Newsletter

Summer is finally here and we are pleased to present our July 2019 Newsletter. It contains articles on VAT: Building and Construction, Holiday Pay, Better Business Management: the farm, Your State Pension and Tax Return Special. July 2019 Newsletter
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Advice for investors as Woodford fund remains locked

Well-known stockpicker Neil Woodford’s flagship fund remains locked for investors, it has been confirmed. The extension, announced as the initial 28-day suspension expired, means investors will have to wait at least another month to withdraw their money. Investors in the Equity Income Fund have now not been able to access their money since 3 June, 2019. Withdrawals were frozen after rising numbers of investors asked for their money back. What can investors do? In short, nothing for now. Investors have no choice but to wait for the suspension to be lifted. At that point Mr Woodford is likely to make
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May 2019 Newsletter

As we approach the summer months, we are pleased to present our May 2019 Newsletter.  As well as our front-page announcement, this month’s newsletter contains articles on Claiming Capital Allowance, Probate Issues, Auto-Enrolment Pension Rules and Keeping the VAT Inspector Sweet. May 2019 Newsletter      
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Making Tax Digital MTD for VAT

VAT registered business owners may have received a letter from HMRC titled ‘We are modernising the VAT system- get your business ready now’ which asks you to register for Making Tax Digital. This instruction needs to be taken with some WARNINGS: Once signed up to Making Tax Digital it will not be possible to file any returns through the Government Gateway/via the non-MTD VAT return submission button contained within existing software. The timing of the signup is critical and should not be made too early. If signed up to MTD before the due time then there are 2 options the
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