Category Archives: Uncategorised

Changes to contractor VAT from 1 October 2019

We have alerted building contractors and sub-contractors in previous newsletters of changes to the VAT rules from 1 October 2019. In a nut-shell, if you are subject to the Construction Industry Scheme and if you are registered for VAT, from the 1 October 2019 you may need to change the way you account for VAT […]

Why you may need an EORI number

The end of next month, 31 October 2019, is the latest deadline for our exit from the EU and the recent hiatus seems to be pushing the UK ever closer to a no-deal outcome. Accordingly, if you are involved in buying or selling goods to EU countries, you should apply now for an Economic Operator […]

Autumn Budget 2019

If there was a measure of stability in UK politics, we would be expecting the usual dispatch-box presentation by the Chancellor before Christmas. The annual budget is usually presented November each year. This may still happen this year, but present uncertainties regarding the Brexit outcome, and the present government’s slim majority may scupper that timetable […]

Are you making the most of Trivial Benefits?

Earlier this year we highlighted the tax concession afforded by the so-called Trivial Benefit rules. We said: It is possible to make small tax-free payments to employees, including directors… Employers and employees don’t have to pay tax on such a benefit if all of the following apply: it cost you £50 or less to provide, […]

Tax Diary September/October 2019

1 August 2019 – Due date for Corporation Tax due for the year ended 31 October 2018. 1 September 2019 – Due date for Corporation Tax due for the year ended 30 November 2018. 19 September 2019 – PAYE and NIC deductions due for month ended 5 September 2019. (If you pay your tax electronically […]

Opening Banking is Here!

When is it happening? 14th September 2019 So what is Open Banking? Open Banking is a series of reforms to how banks deal with your financial information, called for by competition watchdog the Competition and Markets Authority (CMA). It comes alongside a regulation with the snappy name ‘the second Payment Services Directive’ (PSD2), which also […]

Client News – Taste Divine August 2019

Sharing some news for one of our lovely clients – Taste Divinehttp://www.tastesdivine.co.uk/our-story/ Tastes Divine is having a very busy summer but as always, we will be running our 10 week  Monday evening cookery classes commencing Monday 23rd September at Cottingham High School 18.45 – 21.15 at a cost of £150 for the 10 weeks (this […]

Changes to private residence relief

If you rent out all or part of your home this may create a Capital Gains Tax (CGT) charge when you sell the property. Presently, HMRC excludes the last 18 months of your ownership – even if the property is let for this time – when assessing any CGT liability. In a draft of the […]

Internet giants face tax-hike

It has been confirmed that from April 2020, the government will introduce a new 2% Digital Services Tax (DST) on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users. This is an attempt to tax, in the UK, revenues earned by these social media platforms from customers […]

New homes to have car charge-points

In a bid to accommodate yet more electric vehicles on our roads, the government has launched a consultation aimed at increasing the number of homes with electric car charge-points. In a recent press release they said: “All new-build homes could soon be fitted with an electric car charge-point, the government has outlined today (15 July […]