What are some of the key Post-Brexit VAT Changes

What are the changes for those importing goods from EU member states to the UK?  UK VAT registered businesses can account for import VAT at the time of their VAT return rather than having to pay it soon after the goods arrive in the UK from 1 January 2021 after the introduction of ‘postponed accounting’  […]

What are Your Rights and Obligations When You Have Done Something Wrong in Compliance Checks?

Introduction: Understanding HMRC Compliance Checks  HM Revenue and Customs (HMRC) initiates compliance checks to ensure the tax system operates correctly, efficiently, and fairly for all taxpayers. The primary objectives are straightforward: to confirm that individuals and businesses are paying the correct amount of tax at the right time, claiming appropriate allowances, and, fundamentally, to discourage […]

What is the Concept of Tax Residency and Foreign Income?

1. What is foreign income?  Foreign income is anything from outside England, Wales, Scotland, and Northern Ireland. The Channel Islands and the Isle of Man are classified as foreign.  You may need to pay UK Income Tax on your foreign income, such as:  Wages if you work abroad   Rental income on overseas property   Income from […]