
Insurance compensation under the VAT flat-rate scheme… What is the VAT treatment where you are on the VAT flat-rate scheme and receive a substantial insurance pay-out, say for damage to your trading premises?
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Does a Property Embedded Capital Allowance claim impact the CGT calculations on disposal?
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VAT is not a straightforward or even logical tax. Many a client (and indeed many a tax advisor) are known to have ‘scratched’ their head’s over a VAT dilemma. VAT on land based supplies is a whole topic in itself.
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Class 2 NIC and the Self-employed If you are a self-employed earner then the chances are, you are also liable to pay Class 2 National Insurance contributions.
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If you are contemplating using VAT self-billing arrangements, have you taken into account who is liable to pay the output tax to HMRC if a mistake is made in calculating the VAT on the self-billed invoice?
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