Tax Rates 2019/2020
We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As the UK...
How will the VAT reverse charge for construction work?
A domestic reverse charge will be introduced from 1 October 2019 to tackle VAT fraud in the construction industry. Tony Nickson, VAT Consultant at Hawsons, explains what this will mean for businesses. What is a reverse charge? In a nutshell the reverse charge is where...
HMRC sets out rules for postponed VAT accounting if no deal Brexit
HMRC has confirmed that in the event of a no-deal Brexit, from 11pm on 29 March 2019, businesses registered for VAT in the UK will be able to account for import VAT on their VAT return rather than pay when, or soon after, the goods arrive at the UK border. This will...
Top 10 Errors at VAT Inspections
VAT inspections used to be a fairly regular occurrence for VAT registered business owners and were often viewed as a terrifying and potentially costly experience. Whilst the regularity of VAT inspections has decreased significantly over the past 5 to 10 years, due to...
