by MAS | Nov 30, 2018 | Tax
Entrepreneurs’ relief (‘ER’) is available to business owners on the sale of their businesses. It reduces the tax rate on a sale from 20% to 10%. If advisers get it wrong then the increase in tax is 100%! While most advisers are aware that it can apply to shares in...
by MAS | Nov 21, 2018 | HMRC, VAT
Q. I have just sent off my VAT registration forms, as we exceeded the twelve-month compulsory registration threshold. We’re therefore waiting for our VAT number, but do I start charging VAT straightaway? A. Once you exceed the VAT threshold, you will be liable to...
by MAS | Nov 8, 2018 | Tax, VAT
We have received a number of calls recently from property developers seeking clarification of the VAT liability of construction or conversion costs, and advice in relation to the recovery of VAT on costs relating to property development schemes. The rules relating to...
by MAS | Nov 8, 2018 | Uncategorized
If a business sells goods to private individuals in other EU countries and exceed the distance selling threshold of that country, the business is required to register for VAT in that country and charge VAT at the appropriate local rate. Also, if an on-line platform...
by MAS | Nov 7, 2018 | HMRC, VAT
ICAEW research in July 2018 revealed that of the businesses required to submit their VAT returns using software or an app from April 2019, 42% were unaware of the change. Although ICAEW and the other professional bodies have been making members aware of Making Tax...
