by admin | Jun 20, 2024 | Uncategorized
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income over £100,000...
by admin | Jun 20, 2024 | Uncategorized
There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of VAT is known as pre-registration input VAT. There are different rules for the supply of goods and services, but VAT can only be reclaimed if...
by admin | Jun 17, 2024 | Uncategorized
Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they are registered for VAT or not. If you are not registered for VAT, you do not have to add VAT to your sales and you cannot recover any VAT you pay...
by admin | Jun 17, 2024 | Uncategorized
More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing their education or training after their GCSEs. HM Revenue and Customs (HMRC) is sending more than 1.4 million Child Benefit reconfirmation letters to...
by admin | Jun 13, 2024 | Uncategorized
Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments on account are due on 31 January during the tax year and 31 July following the tax year end date. These payments on account are...
