VAT is chargeable on a person and not on a trade. Thus, if one person operates two separate trades then they are one business for the purposes of VAT. Separating a business into different parts operated by different persons is called “disaggregation”, and there are rules preventing this if there is a resulting avoidance of … Continue reading The rules around separating a business for VAT purposes →

A quick reminder that if you do not have enough income to use up all of your personal allowance then you may be able to transfer it to your spouse or partner. Not only can you do this for the current year but if it applied last year then it is still not too late … Continue reading Transfer of Personal Allowance To Your Spouse Or Partner →

Are you being made redundant, or are you considering making someone redundant? If the answer is yes then you will be interested in how much tax and national insurance you will be paying. It is general knowledge, of course, that redundancy payments of up to £30,000 are tax-free They are also not liable to National … Continue reading Tax and NI issues from being made redundant →

Normally, you have four full years in which to submit a Tax return. If you miss that deadline then you cannot submit a return and you will miss any refund that you may be due. That is, until Mr Higgs (“H”) came along. H thought that he was going to be a bit late in … Continue reading You’ve got until April 5 to get a late tax refund from self assessment →

The government has recently issued more information concerning their “Making Tax Digital” (“MTD”) proposals. These details include a number of concessions, although crucially not on the contentious matter of quarterly reporting. Firstly, the government now proposes to exempt small unincorporated businesses with a turnover of less than £10,000 per annum. It is estimated that this … Continue reading Government announces concession for the Making Tax Digital proposals →