Over half a million businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments, HMRC announced 23 February 2021.In order to take advantage of the new payment scheme businesses will need to have deferred VAT payments between March and June 2020 under the VAT Payment Deferral Scheme. They will now be given the option to pay their deferred VAT in equal consecutive monthly instalments … [Read more...]
Autumn 2017 Budget update
Thanks to Julia Kermode, Chief Executive of the FCSA (Freelancer & Contractor Services Association), for this concise summary of the Chancellor's 2017 Autumn Budget Statement. In the event, there was less news relating to the payroll/recruitment agency/contractor sector than many had anticipated. IR35 reform in the private sector Surprisingly the Chancellor’s speech did not mention IR35 or off-payroll at all so we were left to establish their plans from the red book. Here the Chancellor … [Read more...]
What VAT solution is best for your Limited Company?
If you’re considering starting your own Limited Company, there are quite a few things to think about. We can help with all of this. We can provide you with software to look after everything, which is in partnership with FreeAgent, incorporate your company and introduce you to some of our partners to help with items such as insurance protection and online business banking.We find that VAT is often left to just utilising the standard VAT scheme of quarterly submissions calculating VAT … [Read more...]