HM Revenue & Customs (HMRC) has been granted new powers to help combat online VAT fraud conducted on digital marketplaces. Originally outlined by the Chancellor in the 2017 Autumn Budget, the new powers – known by the term ‘joint-and-several liability’ (JSL) for online marketplaces – strengthen existing arrangements to make online marketplaces accountable for VAT… Read more…
With less than 60 days left until the deadline for compliance with the General Data Protection Regulation (GDPR), more than 90 per cent of UK small businesses admit they are not yet fully ready. In fact, a poll conducted by the Federation of Small Business (FSB) found that only eight per cent of SMEs have… Read more…
Working parents across the UK will be delighted to hear that the Government has agreed to a six-month extension of the childcare voucher scheme. It has been estimated that around 80 per cent of working parents may be better off using Childcare Vouchers rather than the new tax-free childcare scheme. The voucher scheme allows employees… Read more…
Award-winning Midlands’s accountancy firm, Salhan Accountants, is warning businesses to monitor the upcoming review of VAT in case new rules inadvertently drag them into the new digital tax regime. Following the Spring Statement earlier this month the Government released a new consultation, which seeks to review the current VAT registration threshold. The threshold marks the… Read more…
One of Birmingham’s leading firms of accountants, Salhan Accountants, has said the Chancellor’s first Spring Statement hinted at larger moves in this year’s Autumn Budget, which needs to consider the needs of smaller businesses. Even before the Chancellor rose, HM Treasury had played down the impact of the first Spring Statement. It had been touted… Read more…
One of Birmingham’s leading independent accountancy firms Salhan Accountants is to host an event for businesses across Worcestershire and Herefordshire to promote its expansion into the region. Due to be held at Chateau Impney Hotel on 19 March 2018, the event will offer local companies the chance to meet with the team behind the successful… Read more…
A scheme, enabling parents of children aged 12 and under to benefit from up to £2,000 towards the cost of childcare, has now been extended to all working parents with children in the age group. The scheme provides a Government top-up worth £2 for every £8 contributed by parents, up to a maximum of £2,000… Read more…
A new study, prepared by the Federation of Small Businesses (FSB), has found that the UK’s average small business spends nearly three working weeks every 12 months complying with tax rules. This costs SMEs around £5,000 a year on average, according to the survey of 1,000 small businesses. Of the challenges they face, around half… Read more…
An apparently counterintuitive judgement was handed down last month by the Upper Tier Tribunal as it ruled VAT should be applied to the strawberry and banana flavours of Nesquik milk powder, but not to the chocolate equivalent. The case arose after Nestlé, the manufacturer of the powders made a repayment claim to HM Revenue &… Read more…
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