CIS Domestic Reverse Charge
This is probably one of the biggest changes in VAT for a very long time and ranks up there with Brexit. From 1 March 2021, the domestic reverse charge (DRC) will massively change the way subcontractors and contractors in the building industry interact for VAT. The DRC will affect standard and reduced rated supplies if …
Not Dead Yet!
These are the words I used when emailing an old conference friend. He was diagnosed with the big C about a year ago and told he only had about 3 years. I first met him at a tax conference in 1992 and we met up every 6 months at conferences after that. I have not …
Did you defer your VAT payment from last year?
If you deferred VAT that was due between 20 March to 30 June 2020 and still have payments to make, you can now opt into the VAT deferral new payment scheme to pay your deferred VAT over a longer period. The payment scheme is expected to open on 23 February 2021 and close at the end of June 2021. If you …
Your country needs you!
I sat down to write this piece. I had come across a report and I wanted to tell you a bit about the authors to help put it into some sort of context. What would we do without the Internet and Google? The Authors are PwC. They no longer style themselves as accountants. They are …
Bounce Back Loan repayment terms extended to 10 years
Bounce Back Loan borrowers will now have the option to tailor payments under the Pay as You Grow which is available to over 1.4 million businesses, which collectively took out nearly £45bn through the Bounce Back Loan Scheme. There is now the option to extend the length of your loans from six to 10 years …
Bounce Back Loan repayment terms extended to 10 years Read More »
Can I ask you a personal question?
Do you pivot? I hate the term. I am not entirely sure why, but it sounds like you are doing something you shouldn’t. Anyway, it is the term commonly used for businesses adapting to the new Covid and post Covid trading environment. Many are now doing better than they did before. Well, they do say …
1.8m taxpayers miss January self-assessment deadline.
That’s 15% of the 12.1 million returns expected for 2020 and double the number who were late last year. Individuals whose tax return is now late will not be charged a late filing penalty provided they submit their return online by 28 February, but the return will still be treated as a late return. Those …
1.8m taxpayers miss January self-assessment deadline. Read More »
