Although the VAT rules normally prevent you reclaiming VAT on supplies that are not made direct to you, there are certain circumstances when the rules are relaxed.
Recovering VAT on staff expenses
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Sharing our knowledge
Working for years in the accounting industry has provided us with a wealth of knowledge across all areas of compliance. So we think it’s important to share this with our clients.
Here you’ll find a wide range of in-depth articles that clarify some of the more pressing business and industry issues and answer any of your questions about the world of accountancy.
Furnished Holiday Lettings
Different tax rules apply to income from letting property, which is generally taxed under the property income rules. For many years, the Furnished Holiday Lettings (FHL) rules allowed holiday lettings of UK properties that met certain conditions to be treated as a trade for some specific tax purposes.
Capital Gains Tax and the family home
The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs from which many people benefit during their lifetime. The relief is well known: CGT exemption whatever the level of the capital gain on the sale of any property that has been your main residence. In this post, we look at the operation of the relief and consider factors that may cause it to be restricted.
Tax-Free Childcare
The government has introduced a tax incentive for childcare, Tax-Free Childcare (TFC).
Land transaction tax
Land Transaction Tax (LTT) is payable by the purchaser of property in Wales.
Enterprise investment scheme
The purpose of the Enterprise Investment Scheme (EIS) is to help certain types of small higher-risk unquoted trading companies to raise capital. It does so by providing income tax and CGT reliefs for investors in qualifying shares in these companies.
Recent posts
How much do bookkeeping services cost?
If you’ve ever asked yourself, ‘How much do bookkeeping services cost?’, you’re not alone. The cost of bookkeeping can vary, so let’s take a closer look.
The power of optimising your invoicing and payment systems
This article offers valuable insights into the numerous advantages that come with optimising your invoicing and payment systems. We will not only explore the theoretical benefits but also provide you with a real-world example of a client who successfully underwent this transformation.
When is self-assessment due? Everything you need to know.
With the first half of the year behind us, there’s a nagging question on the minds of many taxpayers: when is self-assessment due?
Limited company vs sole trader: what’s best for you?
Ltd company vs sole trader – it’s a question we’re asked often. There are ups and downs to both, so here’s what you need to know.