Electric vehicles are considered safer for the environment considering that they would aid in carbon emission reduction. However, the downside is that they would need to be charged. For this a proper charge point would need to be installed for the same and thus, the cost of the charge point plus the installation would be borne by the individual. The government identifying t...

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April 26, 2021

With the new tax year ushering in and the pandemic still at large employers and business people are all in a classic catch-22 as they wonder what the new tax year will bring. However, the government still stays supportive as the extension of furlough continues till September 2021. Let us look at the other personal and business tax changes for the new year i.e., from 6th Apr...

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April 13, 2021

The year 2021 though off to a rocky start thanks to the persistence of COVID-19 still retains some semblance of hope. Business owners have shown a resilience and touch of bravery that has helped keep the economy from crash landing. In the current scenario cash flow is something that businesses would want to protect. The prime focus of businesses now would be on cutting down...

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February 15, 2021

Steps to be considered if you hold an invalid VAT invoice

To claim input tax, VAT registered businesses in the UK have to furnish valid VAT invoices as evidence. All VAT registered businesses in UK must issue a valid VAT invoice showing VAT payment whether in paper or electronic form. They ...

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February 12, 2021

New rules were expected at the end of the Brexit transition period. And the same are clear now. Till Dec 2020 tax relief was there on import VAT if the amount was under £15. This was known as LVCR - Low-Value Consignment Relief. No import VAT was to be paid if you imported goods from EU (known as acquisition then) under £15.

There is no Low-Value Consi...

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February 09, 2021