In a recent HM Treasury press release it has been confirmed that the government will publish a number of tax-related consultations and calls for evidence at the end of March. These consultations would usually be published on Budget day but instead
Businesses that use the flat rate scheme pay VAT as a fixed percentage of their VAT inclusive turnover. The VAT Agricultural Flat Rate Scheme is a variant of the flat rate scheme specifically designed for farmers and other activities relating to
The Supreme Court has handed down a landmark judgement in the Uber case. The Supreme Court unanimously upheld the decisions of earlier courts and has found that Uber drivers are ‘workers’ and not self-employed as Uber has tried to argue.
The
1 March 2021 – Due date for Corporation Tax due for the year ended 31 May 2020.
2 March 2021 – Self-assessment tax for 2019/20 paid after this date will incur a 5% surcharge.
19 March 2021 – PAYE and NIC deductions due for month ended 5 March 2021.
The Prime Minister has set out the government’s objectives for easing lockdown restrictions.
If the planned opening of schools, social interactions and businesses is achieved without significant increases in infection, after 21st June 2021, there
A reminder that traders who buy and sell goods – wholesalers or retailers – need to be wary of the financial consequences if, as expected, pent up consumer activity leads to a surge in demand for your products from July 2021 or earlier if you can
In an apparent U-turn, the Business Secretary has confirmed during a television interview that a proposed post-Brexit review of EU-derived workers’ rights, due to be carried out by the Department for Business, Energy & Industrial Strategy (BEIS),
If you are entitled to the marriage allowance and have not yet applied, then you could receive a payment of up to £1,188 from HMRC. HMRC used the occasion of Valentine’s Day to remind couples to make a claim.
The marriage allowance is available to
The new Pensions Scheme Act received Royal Assent on 11 February 2021. The Act covers a number of important pensions-related issues and has faced a long journey through parliament, starting in October 2019, that included delays due to both Brexit and
Following the end of the Brexit transition period, businesses need to make customs declarations when exporting goods to the EU as well as to the rest of the world. Businesses can make customs declarations themselves or hire a third party such as a
The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March 2020 and 30 June 2020. The option for businesses to defer their VAT payments ended on 30 June 2020.
There are two options
Employees who are working from home may be able to claim tax relief for any additional costs due to home working. No tax relief will be due if employers reimburse employees for the additional household expenses incurred.
The tax relief covers
Employees who need to buy substantial equipment to use as part of their employment may be able to claim tax relief. In most cases they can claim relief based on the full cost as it usually qualifies for a type of capital allowance called the Annual
Many business owners are buoyed by turnover; if it’s sold it’s as good as money in the bank, but is it?
What are your credit terms? How many days do you allow your customers to keep your money before insisting they pay you?
30 days is probably the
There are three possible financial outcomes for your business, each with their own challenges:
Make a profit
Breakeven, or
Make a loss
Making a profit
Clearly, this will be your goal. If you make profits – and taxation will never eat up all
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.
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