12 July 2021
The new rules are valid from 1st July 2021, and they refer to the abolition of VAT exemptions for small value shipments. Specifically, it refers to goods worth €22 or less and a new special scheme for the distance selling of goods, where the goods are estimated at €150 or…
The Office of Tax Simplification (OTS) has put forward a proposal to move the end of the tax year from April 5 to March 31. There are also indications that December 31 was taken as the deadline for the move. We should be aware that any change in the tax…
Draft statutory instruments have been published in Gov.uk which will amend the existing regulations on Disclosure of Tax Avoidance Schemes (DOTAS), Promoters of Tax Avoidance Schemes (POTAS) and Disclosure of Avoidance Schemes for VAT and Other Indirect Taxes (DASVOIT). These are expected to come into effect from 9th September 2021.…
UK VAT registered businesses with a taxable turnover above the VAT threshold are obliged to follow the MTD (Making Tax Digital) rules – keep digital records and use compatible software to submit their VAT returns. Businesses below the VAT threshold can opt-in to use this service, however, this will change…
15 June 2021
It has come to HMRC’s attention that quite a number of ‘mini umbrella’ companies were created and used for the purpose of exploiting government incentives intended for small businesses, thus reducing their PAYE and tax bills. If you’re wondering what a ‘mini umbrella’ is, there is no standard definition on…
