On 22 November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament and started making, in his words, the long-term decisions necessary to strengthen the economy and build a brighter future. Fueled by falling inflation and stabilised public finances,...
On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages. Here is a...
The new Chancellor Jeremy Hunt had warned the public and the financial markets that his Autumn Statement would include “eye-watering” cuts in public spending and tax rises for those with the ‘broadest shoulders’. Unlike the ill-fated Fiscal Event of 23...
Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using software that is compatible with MTD for VAT. Prior to 1 April 2022, MTD for VAT was only mandatory for...
Chancellor Rishi Sunak, delivered his Spring Statement (and mini budget) on 23rd March 2022. With pressure on him to help ease the cost of living crisis, and the impact of the ongoing conflict in the Ukraine, we take a look...
The domestic reverse VAT charge for building and construction services was due to come into effect from 1 October 2019. However, it was announced that the start date had been put back and these changes will now apply from 1...
Winter Economy Plan Here are the headlines from the Chancellors statement in Parliament where a series of measures to help jobs and businesses were announced. New Job Support Scheme Announced Chancellor Rishi Sunak announced a new job scheme starting 1 November 2020 to...
Once a business is up and running, the next major administrative area to be faced often concerns the subject of VAT. At first glance, it looks complicated - not to mention time-consuming - particularly for small businesses. However, taken one...
All traders – whether sole traders, partnerships, or limited companies – are obliged to register to charge and pay VAT once annual sales reach a pre-set annual threshold. This threshold remains at £85,000 for the year commencing 1 April 2019. The...
Making Tax Digital (MTD) for VAT went live on 1 April 2019. VAT registered businesses with VATable turnover above the VAT registration threshold of £85,000 are required to comply with the requirements of MTD for VAT from the start of...