by Paul Whyatt | Feb 16, 2021 | Business Start-up, Taxation
When a business registers for VAT, it’s important to know that you can claim for VAT incurred before the effective date of VAT registration (the ‘EDR’). This VAT is known as ‘pre-registration input VAT’. The amounts involved can add up to a significant sum. If...
by Paul Whyatt | Nov 26, 2020 | News, Personal Tax, Taxation
For a long time, it’s been possible for employers to treat their employees to a Christmas party or other annual function (e.g. Summer BBQ), without the employee being subject to tax on the value of the benefit. Given COVID, holding a Christmas party at a pub,...
by Paul Whyatt | Oct 14, 2020 | Business Start-up, Taxation
You’re starting a new business and you’re wondering whether you should open a separate business bank account. You’re aware that many banks offer free business banking for an introductory period. But then charges kick-in. So, do you really need a separate account?...
by Paul Whyatt | Oct 7, 2020 | Business Advice, News, Taxation
In his recent statement, the Chancellor announced a new jobs support scheme which will start on 1 November. The scheme will run for 6 months and replaces the current Coronavirus Job Retention (‘Furlough’) Scheme, which is due to end on 31 October. The scheme...
by Paul Whyatt | Oct 7, 2020 | News, Personal Tax, Taxation
In his recent statement, the Chancellor announced several VAT and self-assessment tax measures to help taxpayers struggling with cash flow due to COVID-19. Here’s a summary of what he had to say. VAT deferral Businesses which deferred VAT payments due in March to June...
by Paul Whyatt | Jun 17, 2020 | Business Advice, News, Taxation
Many businesses affected by the current crisis have received financial help from the Small Business Grant Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF). If your business has received such a grant, do you have to pay tax on it? Taxable or...
