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Archive for the "VAT" Category

VAT registration limit continues to be frozen

10th December | Posted in: Business Tax, Government Announcements, VAT

The VAT registration limit normally increases inline with inflation each year.  However, it was announced last year that the limit would be frozen at £85,000 until 1 April 2020. It has now been ann...

A snapshot of Xerocon 2018 and 5 benefits from Cloud Accounting...

3rd December | Posted in: Planning, VAT

The Johnston Smillie cloud accounting team recently attended Xerocon 2018 in London and over 2 days were given fascinating insights into the future of cloud accounting and the “human” benefits to ...

newsletter

September 2018 E-Newsletter

1st October | Posted in: Community, Company News, Government Announcements, Pensions, Savings & Investments, Planning, Regulations, VAT

Welcome to our September E-Newsletter which we hope you enjoy reading. Our September blogs have included information on pensions which requires some careful planning.  Some of the rules can be compl...

funding

Joint and several liability for unpaid VAT

24th September | Posted in: VAT

Certain traders can be made liable for the unpaid VAT of another VAT-registered business where certain specified goods are bought or sold. HMRC have recently updated VAT notice 726 which advises trade...

Making Tax Digital (MTD) for VAT guidance issued

20th August | Posted in: Government Announcements, PAYE & NI, Regulations, VAT

HMRC have now issued their detailed guidance on the digital record keeping and return requirements for Making Tax Digital (MTD) for VAT. VAT Notice 700/22 clarifies that spreadsheets may still be used...

newsletter

Our Summer E-Newsletter

7th August | Posted in: Business Tax, Charity, Professional Services, Property Investment, Regulations, VAT

Welcome to our latest E-Newsletter which we hope you enjoy reading. As well as keeping up to date with the latest news, our staff have continued to help raise money for our chosen Charity this year, ...

New VAT rules for building trade in 2019

1st August | Posted in: Regulations, VAT

Under new rules due to come into force on 1 October 2019 builders, sub-contractors and other trades associated with the construction industry will have to start using a new method of accounting for VA...

holiday lets

Landlords! Should you switch to short-term holiday lets?

13th July | Posted in: Pensions, Savings & Investments, Properties, Property Investment, Regulations, VAT

Over the past few years the UK government have removed some of the generous tax breaks available to buy-to-let landlords who rented out their properties on long term tenancies. Higher rate mortgage in...

Making Tax Digital (MTD) – VAT Regulations – Are you Comp...

10th July | Posted in: Business Tax, VAT

The headline name of MTD is focusing people’s minds on personal tax and self-assessment. However, the first hurdle that businesses need to get over relates to VAT and comes in from 1 April 2019, in ...

Do charities pay tax?

15th June | Posted in: Business Tax, Charity, Planning, VAT

It is widely thought that one of the benefits enjoyed by charities is that they don’t have to pay tax.  This is not quite correct.  Whilst it is true that charities generally have to pay less tax ...

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