Brexit was definitely going the affect VAT accounting. Probably there is no extension and the transition period will end on 31st December 2020. From 1 January 2021 we need to account for VAT as per the new guidance. Now the simplified rules will not be applicable for Great Britain. There is no border between Northern Ireland and Ireland. While Ireland is an EU member state ...

Read more

December 04, 2020

The pandemic has caused large-scale loss of lives and severe human suffering worldwide. It is the largest public health crisis in the living memory of mankind, which has also created a major economic catastrophe. Production was at halt which affected many countries globally, a fall down in consumption and confidence, and negative response of stock exchanges to heighten the ...

Read more

December 02, 2020

Certain businesses have different VAT rates to take into account which demands more carefulness compared to those having a single VAT applicable. Building projects can have various VAT rates leading to complicated VAT calculations. As a result of different rates being applicable there are chances of a mistake.

Commercial properties are not a problem here as all th...

Read more

November 30, 2020

Winter has finally arrived and with it the fear of a fresh or second wave of infections all thanks to the coronavirus pandemic. With businesses in a virtual shut down mode due to the lockdown and sales pummeling it appears that the only thing business owners can do is to put on their thinking caps and work out ways to inject life into their business. A re-think on your pres...

Read more

November 27, 2020

There have been many changes that the government has been forced to make in light of the Covid 19 pandemic. In fact, the severity and the infectiousness has been disarming as one can see by the frequently changing government policy. On one hand the government was preparing for businesses to get back to some semblance of economic normality, and on the other, we find that a f...

Read more

November 25, 2020