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Crime

Company VAT Penalty Can Be A Liability Of An “Officer”

A recent case before the tax tribunal saw the liability for a late VAT registration penalty being passed on to a manager of the company. HMRC have the power to impose such a penalty on an individual where: There is a penalty payable by the company for a deliberate failure The individual on whom HMRC […]

Read more August 12th, 2019

Cash And Digital Payments In The New Economy

One of the announcements in the Spring Statement was the possible demise of the 1p and 2p coins and the £50 note, but for different reasons. It seems that more and more of us are paying for small transactions using contactless payments. Those who pay in cash where the cost is say £2.99 we put […]

Read more April 23rd, 2018

“Abuse” Of The VAT Flat Rate Scheme

The VAT flat rate scheme is a simple scheme that enables small businesses to calculate and pay their VAT based on a flat rate percentage of total takings rather than deducting input tax on purchases and expenses and deducting that from total output tax on sales in the period. HMRC believe that the scheme is […]

Read more November 29th, 2016