by Paul Whyatt | Apr 13, 2021 | Other Insights, Personal Tax, Taxation
You should be aware that some fraudsters have obtained SEISS grants by using innocent taxpayers’ Government Gateway IDs and passwords. Once the ID has been proven to work, the fraudsters attempt to double their money by submitting false tax returns to claim tax...
by Paul Whyatt | Apr 12, 2021 | Business Advice, Taxation
A year ago, at the start of the Covid-19 pandemic, the Government automatically deferred all VAT due to be paid to HMRC between 20 March to 30 June 2020. The direct debit to collect that VAT was not activated by HMRC and no interest or late payment surcharges have...
by Paul Whyatt | Apr 12, 2021 | Business Advice, Personal Tax, Taxation
As the owner and director of your own company you decide how much salary to take each year. Paying yourself a small salary can be a good way to maintain your national insurance record to build up state benefit entitlements. In the tax year 2021/22, if you take a...
by Paul Whyatt | Apr 9, 2021 | Business Advice, News, Personal Tax, Taxation
The IR35 rules have been around for over 20 years but those rules have been redrawn and renamed ‘off-payroll working’ These rules have applied in the public sector since April 2017. Since then, public sector engagers (the end client) have determined whether...
by Paul Whyatt | Mar 9, 2021 | News, Personal Tax, Taxation
Chancellor Rishi Sunak made his Budget speech on 3 March 2021. Clearly, much has changed due to COVID 19. The UK economy has shrunk by 10% and we have the highest borrowing since WW2. The total cost of Government support during the crisis will be £407...
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...
