There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.
Recap Since 6 April 2014 most employers have been entitled to a reduction in the NI liability payable on their employees’ (including directors’) wages. For 2015/16 the employmentallowance (EA) is worth up to £2,000 and … Read more
Fines, penalties, VAT and other taxes HMRC has for a long time held the view thatfines and penalties are not tax deductible and we agree. However, not all excess parking charges … Read more
Peace of mind With traditional banks and building societies offering a poor rate of return, many business owners either have or are looking to invest in the buy–to-let market. To safeguard landlords against potential breaches … Read more
Summer’s here! These days Britain is a nation of cyclists, perhaps not yet to rival the Dutch but we’re pedalling fast to catch up. And with summeron the way many of us fair–weather riders are looking forward … Read more
Business trips abroad When out on a weekend shopping trip most people tend not to think about VAT when they buy something. They’re right not to dwell on it when you consider that one … Read more
P11D deadline. It’s that time of year when you need to turn your attention to preparing the dreaded Forms P11D . A form is needed for each director and employee who earned £8,500 or more if … Read more