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?
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.
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?
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
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
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 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
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
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
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