If you sell digital products, e.g. downloadable publications, to customers who are located in the EU you might be required to register for VAT in those countries. However, soon this won’t be necessary if your sales in the EU aren’t significant. What’s changing? From 1 January 2019 an annual €10,000 (HMRC will set a sterling equivalent) Read more about New VAT Limit for digital supplies[…]
A company car used by a director or employees potentially a taxable perk, even where it’s only used for business. The tax charge arises where the car is “available” for private use. Actual use is less important. Therefore, the first step to avoid a tax charge is to communicate that t’s not available for private Read more about Pool Cars[…]
Companies House recently published unusual excuses people gave for filing company accounts late. Check out the top 8 below: Goats ate my accounts I found my wife in the bath with my accountant Pirates stole my accounts We delivered the accounts to the betting office next door to companies house A Volcano erupted and prevented Read more about Top Excuses for Late Accounts Filing[…]
HMRC published a new notice (700/22) in July with more detail on Making Tax Digital for VAT (MTDfV). The notice confirms that MTDfV will apply to all businesses for the first VAT period starting on or after 1 April 2019 where their turnover was in excess of the registration limit (currently £85,000) in the Read more about Making Tax Digital (MTD) – VAT update[…]
Some customers have received fraudulent emails claiming to be from Companies House. An example of an email is below: The email is sent from: “noreply@cpgov.uk” with the following message: These emails are not from Companies House If you receive any emails from this sender or an email like this, forward them straight on to phishing@companieshouse.gov.uk as soon as Read more about Scam emails claiming to be from Companies House[…]
Kevin Brewer pleaded guilty to breaking section 1112 of the Companies Act 2006, which sets out the criminal offence of providing false information on the company register. He was fined £1,602 and ordered to pay costs of £10,462.50 and a Victim Surcharge of £160. The Story Kevin Brewer, a businessman, incorporated John Vincent Cable Services Read more about UK’s ‘first ever’ successful prosecution for false company information[…]
On 6 April 2018, by law, the minimum amount employers have to pay into workplace pensions goes up to 2% of qualifying earnings, while staff will now contribute 3% – making a combined total minimum contribution of 5%. Automatic enrolment has so far put more than nine million workers into workplace pension schemes. All of Read more about On 6 April the minimum amount employers must pay into workplace pensions is going up[…]
As a director of a limited company, you are responsible for filing accounts with Companies House and a corporation tax return with HMRC each year. Although most people appoint an accountant to handle this, it’s sill important to have a basic understanding of how your accounts are put together. You may think that if you Read more about Profit and loss account explained[…]
What is it? It is an update to the 1998 Data Protection Act (DPA) which unifies Data Protection across the European Union (EU) – in force from 25/05/2018 GDPR applies to both paper based and computerised records Why is it being updated? Current legislation needs updating Information as become a commodity and can sell for Read more about GDPR – General Data Protection Regulations[…]