Supporting clients has always been of the upmost priority for Lisa. With Making Tax Digital in mind, Lisa appreciates the differing challenges that businesses face in bringing their records into the Digital Era Last month we launched our Making Tax Digital (MTD) Toolkit for small businesses, sole traders and landlords to help you navigate to… Continue reading Launch of YouTube Channel To Provide MTD Support and Guidance for Small Business
Month: February 2021
Transition Guidance Available from HMRC
If your business moves goods between the UK and countries in the EU, you’ll need to follow new customs and tax rules. Your business will be affected by the new rules if they: buy goods from an EU seller and bring them into the UK send goods you’ve sold to a buyer in an EU… Continue reading Transition Guidance Available from HMRC
VAT Deferral New Payment Scheme
VAT deferral new payment scheme – join from 23 February If businesses deferred paying VAT due in the period from 20 March to 30 June 2020 and can’t afford to pay by 31 March 2021, they can join the VAT deferral new payment scheme and pay their deferred VAT over a longer period. The online service… Continue reading VAT Deferral New Payment Scheme
Government announces SME Brexit Support Fund
The £20 million SME Brexit Support Fund will help small businesses with changes to trade rules with the EU. Chancellor of the Duchy of Lancaster announces £20 million SME Brexit Support Fund to help small businesses with changes to trade rules with the EU; Traders will be able to apply for a grant of up… Continue reading Government announces SME Brexit Support Fund
Moving Goods to the EU
New rules for businesses moving goods to the EU You must declare any goods you send to the EU, providing details about what you’re sending and what it’s worth, using a customs declaration form. You can get a customs intermediary to help you do this. If you’re sending goods using a fast parcel operator or express… Continue reading Moving Goods to the EU
HMRC answer Frequently Asked Questions on New Trade rules
New rules for businesses that trade with Europe are here. Now that the Brexit transition period has ended, all businesses that move goods between Great Britain and countries in the EU, or under the Northern Ireland Protocol, must follow new customs and tax rules since 1 January 2021. HMRC have provided answers to some of… Continue reading HMRC answer Frequently Asked Questions on New Trade rules
VAT Reverse Charge for Construction Services from 1 March 2021
From 1 March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge applies to standard and reduced-rate VAT services: for individuals or businesses who are registered for VAT in the UK reported within the Construction Industry Scheme What you need to do You’ll need to:… Continue reading VAT Reverse Charge for Construction Services from 1 March 2021