What’s New

17-08-2017
When must you register for VAT?

The taxable turnover threshold, that determines whether businesses should be registered for VAT is currently £85,000.
Businesses are required to register for VAT if they meet any of the following conditions:

At the end of any month, the value of … read more

17-08-2017
BPP holdings Supreme Court decision

The Supreme Court has dismissed HMRC’s appeal in a long running case between the BPP Group of companies (who provide professional and academic education) and HMRC. The case initially centred on the VAT liability of supplies of books and education by … read more

17-08-2017
What are overlap profits?

The assessment of self-employed or partnership profits is relatively straight-forward if the accounting date, to which accounts are prepared, falls between 31 March and 5 April. However, year ends that fall outside these dates create overlap profits. … read more

17-08-2017
Dormant company obligations

If a company has stopped trading and has no other income then HMRC should be informed that it’s dormant for Corporation Tax purposes. HMRC can also send a notification if they think a company is dormant. This notice will state that a company or … read more

17-08-2017
100% write down for qualifying capital expenditure

The Annual Investment Allowance (AIA) limit has changed significantly over the last number of years. However, the limit has been fixed at £200,000 for all qualifying expenditure on or after 1 January 2016.
The current £200,000 limit is a generous … read more