Her Majesty’s Revenue and Customs (HMRC) has confirmed that the VAT on open electric vehicle (EV) charging will remain at 20% after demands for clearness from organizations around decreased rates.
One of the more convoluted aspects of VAT is the treatment of construction work in the construction industry. The construction VAT rates for new structures is charged at the zero rate of VAT, given that the building is to be used for a social reason.
The Chancellor of the Exchequer, Rishi Sunak, temporarily lifted stamp duty tax on the initial £500,000 of property buys in July of last year, and in March, he extended the exception by a further three months to the furthest limit of June.
The amount of tax you pay on rental income relies primarily on how much profit you make, and what your work status is. In this article, we discuss the taxes that landlords face, the role of HMRC, and additional guidance for landowners.
A triplet of changes to pension contributions are being drawn up, including lessening the pensions lifetime allowance from just over £1m to around £800,000. Bringing down this limit has a significant impact, as pension savings are heavily taxed above this allowance
VAT is often much simpler than it is generally portrayed, but this does not mean it should be taken lightly. The standard method of paying VAT is known as the Standard Rate Scheme.
Corporation Tax is paid on any taxable profits that your organization has. You’ll have to make good on Corporation tax if you set up as a limited company, charity, affiliation, or society. Consider it identical to income tax. Corporation Tax is an income tax for organizations.
More than 440,000 annual tax credits, survey packs were sent to customers between late April and early June. Customers will have either gotten an ‘auto restoration update or a ‘reply required’ notice.
When most items or services are sold, VAT is added to the original deal cost, ordinarily at a pace of 20%. Be that as it may, certain items and services are exempt from VAT.
UK government has extended the furlough scheme until the end of September. Chancellor Rishi Sunak confirmed the extension during his Budget announcement.
The BBLS is a Government-sponsored scheme, which permitted businesses influenced by COVID-19 to borrow money in specific circumstances. The Scheme is currently shut to new applications.
This article will provide you a thorough understanding of availing the corporation tax reliefs. All the mentioned data is procured from the UK government official site
British Business Bank introduced the Recovery Loan Scheme on April 6th, 2021 (valid till December 31st, 2021), as a new debt finance scheme to replace the existing ones.
Keeping in view the COVID-19 pandemic atrocities and cash-flow pressure off the businesses, the UK government announced to defer VAT payments. To support the business through the prevalent times, around £33.5bn of VAT payments were deferred between March 20, 2020, and June 30, 2020.
Our Experts
Fahad is a Chartered Certified Accountant (ACCA), with a motto “When “why” is clear, “how” is easier”. He is proficient in numeracy and impassioned with giving concise advice to a wide range of clients.
Junaid has been instrumental in the achievement of our success across various regions and he specialises in business management, accounting and tax advisory services.
Faizan is good at providing well-thought-out strategies and solutions to complex problems in Business Development which makes him a proficient overseer of our clients.
The quickest way from A to B is usually a conversation. So, if you want to find out more about how Legend Financial can boost your business, get in touch. We’ll give straight answers so you can make a confident decision, fast.
Dividends are distributed to directors or shareholders after a company settles business expenses and tax liabilities (corporation tax & VAT).
Dividends are distributed to directors or shareholders after a company settles business expenses and tax liabilities (corporation tax & VAT).
Dividends are distributed to directors or shareholders after a company settles business expenses and tax liabilities (corporation tax & VAT).
Dividends are distributed to directors or shareholders after a company settles business expenses and tax liabilities (corporation tax & VAT).
Dividends are distributed to directors or shareholders after a company settles business expenses and tax liabilities (corporation tax & VAT).
LET’S DO BUSINESS
The quickest way from A to B is usually a conversation. So, if you want to find out more about how Legend Financial can boost your business, get in touch. We’ll give straight answers so you can make a confident decision, fast.
[ninja_form id=’38’]