skip to navigationskip to main content

Businesses within the scope of VAT in the UK

The VAT system is policed by HMRC who can and do levy penalties for breaches of the legislation.

There are four conditions that must be satisfied in order for an activity to be within the scope of UK VAT.

These conditions are that the

HM Treasury instructions re CJRS

An updated Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the extended Coronavirus Job Retention Scheme (CJRS) was published on 12 November 2020. The CJRS was due to come to an end on 31 October 2020 but has now

Scottish Budget 2021

Scotland’s Finance Secretary, Kate Forbes, has announced that the Scottish Government’s Budget will be published for 2021-22 on 28 January 2021. The date has been selected in order to allow the Scottish Government time to prepare for the new tax

Do you need a customs agent?

If your business acquires goods or sells goods to the EU, and you have no import/export trade with non-EU countries you probably have no experience of dealing with the raft of red tape involved in clearing goods through customs and settling any

Those who shout loudest

Many of the business disruption grants that have become available in the last few weeks are being distributed by local authorities. They include support for:

Businesses obliged to close due to local or national lockdown and
Businesses that have

Coding out debts deadline

The coding threshold entitles tax payers to have tax underpayments collected via a tax code, provided they are in employment or in receipt of a UK-based pension. The coding applies to certain debts such as Self-Assessment liabilities, tax credit

Protection for landlords and tenants

The government guidance for landlords and tenants as a result of the coronavirus pandemic has been updated. The Coronavirus Act 2020 provides protection to social and private tenants by delaying when landlords can start proceedings to evict tenants.

Further support for mortgage borrowers

The Financial Conduct Authority (FCA) has announced new proposals to ensure that lenders provide tailored support to mortgage borrowers who continue to face payment difficulties due to the COVID-19 crisis. This follows the additional government

Holiday entitlements if furloughed

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme is open to all UK employers and will now run until 31 March 2021. From 1 November 2020, employees will receive up to 80% of their salary for hours not worked with a

Business Asset Disposal Relief

Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The relief was renamed in Finance Act 2020. The name change does not affect the operation of the relief.

Business Asset Disposal Relief applies to the sale

VAT – transfer of business as going concern

The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate.

Where

Company trading losses

Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same or previous

UK and London Living Wages increase

The Living Wage Foundation has announced that its UK Living Wage has risen by 20p per hour from £9.30 to £9.50 per hour. Its London Living Wage has risen by 10p per hour from £10.75 to £10.85 per hour. Over 250,000 UK workers will now receive a pay

Shielding guidance for the clinically extremely vulnerable

Shielding for clinically extremely vulnerable people was paused in England on 31 July 2020. However, the government has now updated its guidance on shielding and protecting people who are clinically extremely vulnerable from COVID-19 to cover the

New Furlough Scheme guidance published

The detailed Furlough Scheme rules were updated 10 November 2020.

To use the extended scheme – to 31 March 2021 – the steps that are required are:

Check if you can claim
Check which employees you can put on furlough
Steps to take before

Working with you

Whether you're starting from scratch or have been in business for years you'll benefit from working with D.R.E. & Co. advice on how to take you to the next level.

fixed-quote-man.jpg

About us

We work closely with our clients and act for a broad range of business....

business-advice-couple.jpg

Get in touch

Simple way to contact us. Just fill in a simple form.

free-consultation-couple.jpg

Our services

Find out details about what we can do
for you.