Getting tax relief on a claim for capital allowances is not always plain sailing. This was recently highlighted at the tax tribunal, where a taxpayer faced the possibility of forfeiting tax relief on 80% of his expenditure.
Making Tax Digital for VAT (MTDfV), the new regime for VAT return submission, is now live. All businesses with taxable turnover over the £85,000 VAT registration limit come within the new rules.
The Pensions Act 2008 brought the requirement for employers to enrol particular qualifying employees in a workplace pension scheme, and to make scheme contributions. This auto-enrolment regime provides for an increase in minimum contributions on set dates – sometimes called phasing.
Negotiating the VAT rules is a complex business, considerable risk attaching to errors. But one recent tax tribunal case – which the taxpayer won – made more entertaining reading than many.
A look at recent developments in payroll practice, employment law and tax.
For a business to grow successfully, it needs to know where it is now – and where it’s capable of going in the future. And that means not just having the right financial information, but getting it to work for you.
The Catapult programme exists to help UK businesses to turn ideas into reality and has so far supported nearly 6,000 small and medium enterprises looking to bring new products and services to market.
Nearly a quarter of UK businesses report that late payments threaten their survival.