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Domestic Reverse Charge For The Construction Industry Scheme VAT Codes To Use

The new VAT rules for HMRC’s Domestic Reverse Charge for the Construction Industry Scheme comes into effect on 1 March 2021. If you are using software to prepare your bookkeeping, you will need to use new VAT codes to account for these transactions. The new VAT codes can be found as follows:- Sage Line 50 […]

Read more February 24th, 2021

Post Brexit New VAT Rates To Use For Bookkeeping

Following the BREXIT transition period coming to an end on 31 December 2020, from 1 January 2021, new VAT codes have become available to use for bookkeeping. Please see below details for how to access the new rates on Sage 50, Sage Cloud, QuickBooks and Xero and how to activate Postponed VAT Accounting if you […]

Read more February 23rd, 2021

Arranging Payment Of Deferred VAT To HMRC

If you opted to defer VAT payments due to HMRC between 20 March and 30 June 2020 and the deferred amounts have not been paid in full yet, you will need to take one of the following actions. You may be charged interest or penalties if you do not use one of the 3 methods […]

Read more February 23rd, 2021

Reinvigorate Your Business Development

Top tips for driving your Business Development efforts this year. Business Development is often misunderstood. Some might say that it’s all about relationships, some will say it’s all about sales and others will talk about marketing. They are all right, in a way. Business Development is the creation of long-term value for a company, through […]

Read more February 19th, 2021

Delivering Remote Training, Effectively

Providing training for your team when they are working remotely can be challenging. Delivering a training session to a room full of people can be difficult enough. Engaging with your audience remotely presents a whole new challenge. The first thing to think about is the delivery method. Your company may already have a webinar or […]

Read more February 17th, 2021

What Trends To Watch In 2021

The challenges faced by businesses in 2020 have driven businesses across the world to develop, adapt and innovate. Here are some of the key business trends to watch in 2021. Remote working technology Working from home is here to stay. Now that staff have adapted to remote working, they will expect to continue to be […]

Read more February 16th, 2021

Budget Day On 3 March

There has been a lot of speculation on what will be in Rishi Sunak’s second Budget in early March and whether there is any tax planning that you should consider before then. The government will have to start paying down the massive £2 trillion of borrowings at some stage. Increasing tax rates would send the […]

Read more February 11th, 2021

Possible Changes To Capital Taxes

The Office of Tax Simplification (OTS) has been asked by the Treasury to review both Inheritance Tax (IHT) and Capital Gains Tax (CGT) recently which again suggests there could be changes to those taxes that may require pre-emptive planning action. Will CGT rates go up? The OTS report highlighted the mismatch between CGT and income […]

Read more February 10th, 2021

Get Ready For New Off-Payroll Working Rules (IR35)

This time last year businesses were preparing for important changes to the rules where workers supply their services via their own personal service companies. The start date was then deferred from 6 April 2020 to 6 April 2021. The new rules are scheduled to apply to large and medium-sized businesses as defined by the Companies […]

Read more February 9th, 2021

European Property Owners Face Higher Tax Bills

Now that the UK has finally left the EU some taxpayers will start to see additional tax costs. One example is where UK residents own holiday homes in EU countries that they rent out for part of the year. Owners of EU rental properties may now be required to pay more tax in those countries, […]

Read more February 8th, 2021