HMRC has announced important changes to the proposed penalty arrangements applying in the first year of Making Tax Digital for VAT (MTDfV). What are they?
Taxation
Accounting for VAT on events held overseas
Our subscriber is VAT registered in the UK and produced a singing and dancing show for a cabaret venue in Spain. He invoiced the venue in Spain for the show and did not charge UK VAT on his fee because the place of supply is Spain under the general business-to-business (B2B) rule.
Will your company qualify for the new “goodwill” relief?
The 2018 Budget included a proposal to introduce a new relief for intangible assets including goodwill. The new relief will be allowed from April 2019. Will you qualify if you acquired the asset prior to this?
Dealing with small value purchases and retail sales
You’ve read that you will need to digitally record all sales and purchase invoices when Making Tax Digital (MTD) is introduced. Is there a way around this problem in the … Read more
New de minimis threshold for MOSS
Legislation has been passed to introduce an £8,818 de minimis threshold before your business will need to register for MOSS in relation to e-services sales. How will this operate in … Read more
Benefits in kind – how to avoid losing the exemption
Directors and employees can receive low value perks tax and NI free. The trouble is if the cost of a benefit exceeds the exempt amount it’s fully taxable and liable … Read more
Changes to EU VAT registration
Changes to the VAT place of supply rules in 2019 will make life easier for thousands of businesses, but increase complexity for others. What’s the full story? EU sales. The new rules, … Read more
Selling your home – private residence relief slashed
In two stealthy moves, the Chancellor used the 2018 Budget to raise some extra capital gains tax from certain individuals when they sell their home. Could this include you? … Read more
New tax and NI bands – how much better off will you be?
The Chancellor announced a substantial hike in the thresholds for basic rate tax and NI. At first sight these look generous, but looks can be deceiving. How much better off … Read more
HMRC confirms “no-deal” plans
The UK is less than six months from leaving the EU, and the future relationship is still unclear. What do HMRC’s newly published “no-deal” plans mean for your VAT accounting? … Read more