VAT news
Spring Budget 2024 Summary
Spring Budget 2024 Summary Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to...
Spring Budget 2024 – Key Tax Announcements
Today, Chancellor Jeremy Hunt announced his 2024 Spring Budget where he summarised the UK economic performance and announced his proposals for tax. We highlight below some of the key tax changes announced. National Insurance Contributions cut From April 2024,...
Tax Rates and Allowances 2023/24
Introduction 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...
VAT Recovery on Aircraft
We have helped a number of businesses and individuals with the purchase of aircraft determining the best way to make the purchase in order to recover the VAT and to manage personal and corporate taxes. It’s fair to say HMRC can be skeptical about the position, but...
VAT option to tax: changes to the notification process
HMRC will no longer issue option to tax notification receipt letters from 1 February 2023. Supplies of land and buildings are normally exempt from VAT, but it is possible to opt to tax the land/property which may allow some recovery on expenses if VAT is charged on...
Autumn Statement 2022 – key tax announcements
The Chancellor, Jeremy Hunt, has given his first Autumn Statement. We have highlighted below some of the key tax announcements made by the Chancellor: Personal tax thresholds The Chancellor has announced that personal tax thresholds will be frozen for a further...