VAT Tips for Serviced Accommodation Operators: Save Money on Tax
Serviced Accommodation has become the preferred choice for many travellers seeking a comfortable home-like experience, whether on business trips or leisurely getaways. These accommodations, with their hotel-style amenities, cater to diverse crowds, from tourists and leisure seekers to business professionals and contractors. Navigating Tax Implications While the appeal of serviced accommodation is undeniable, operators in […]
Important Dates and Deadlines for the UK Tax Year 2023/24
Are you searching for important dates for taxes in the 2023/24 year? You are in the right spot! The previous tax year began on 6 April 2022 and ended on 5 April 2023. PAYE key tax dates Deadline The first day of the new tax year 2023/24 6 April 2023 Copies of 2022/23 P60 documents […]
Effective VAT Return Solutions to Optimize Your Business’s Taxation
In the realm of UK business taxation, Value Added Tax (VAT) plays a significant role. For businesses operating in the UK, VAT compliance is not only essential but can also have a substantial impact on their financial health. However, managing VAT can be a complex and time-consuming process. This is where effective VAT return solutions […]
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’ […]
Trader Support Service goes live! Changes to take effect from 1st January 2021
Trader Support Service (TSS) is used to guide through any changes due to implementation of the Northern Ireland Protocol if goods are moved between Great Britain and Northern Ireland. Please note that goods will not be allowed to move between Great Britain and Northern Ireland from 1 January 2021 if you are not ready for the changes. […]
How To Create Your Government Gateway Account?
Setting up Government Gateway Account A Government Gateway user ID is a series of 12 digits that you can use to access the UK government’s secure online services including the HMRC portal. Follow the steps below to create your Government Gateway Account: Step 1. Go to HMRC’s Login Page Visit HMRC’s login page by visiting […]
What Is Intrastat And What Should You Know About It?
What is Intrastat? Intrastat is a system that collects statistics on the trade in goods between European Union (EU) member states. Please note that supply of services is excluded from intrastat. Which businesses should submit Intrastat? All VAT-registered business trading goods with other EU member states are supposed to make certain declarations and submit intrastat. What determines the amount of information […]
The Advantages of Voluntary VAT Registration for Small Business
Value Added Tax (VAT) is the sales tax levied against goods and services within the UK. Businesses with a turnover in excess of the VAT Registration Threshold (currently £77,000 P.A. 2011-2012) are required by law to complete a VAT Registration with HM Revenue & Customs. Businesses that fail to do so within 30 days of […]
Here Are All The Changes In VAT After Brexit!
In this section, we will look at how the VAT will be changing and learning about VAT on imports and exports. How Will VAT Change After Brexit? While the Domestic VAT rules remain the same following the end of the transition period, VAT rules for imports and exports to and from EU will change. The […]
Importing from the EU to the UK? Read this first!
If you wish to import from the EU after the end of the transition period, you need to know or setup the following: Delay Customs Import Declarations For Up To Six Months There will be no need to make immediate import declarations for goods at the UK border or get authorization in advance for most […]