Is Bridge a Game or a Sport?
Once in a while we get a VAT case that underlines the stupidity of a tax that raises billions and gives back 90%, but with a potential to cause injustice and misery on its way. Several years ago we had the Jaffa Cakes case, which needed to decide whether a Jaffa cake was a cake … Continue reading Is Bridge a Game or a Sport?
The government have announced the October increases in the national minimum wage. From October the new rate for 21 year olds and older will increase by 19p an hour to £6.50, an increase of 3%. At the same time the rate for 18 to 20-year-olds will go up by 10p to £5.13 an hour, and … Continue reading Government announces October increases in the national minimum wage
As we approach the end of the tax year on 5th April it is time to think about some of the simple “tax avoidance schemes” that are available to us all. Very often we can make a big difference to our tax bills by taking a few simple steps. Capital Gains Tax Capital gains of … Continue reading Year End Tax Planning
If you have been watching Pound Shop Wars on television over the past few weeks then you may be interested in the following. KPMG resigned as auditors of Poundworld Retail Ltd, the main chain of stores featured in the programme, on 30th December 2013 following completion of the audit for the year ended 31st March … Continue reading Who’s Been a Naughty Boy Then?!
What if a customer doesn’t pay you for goods or services on which you have charged VAT, and you have paid that VAT to HM Revenue & Customs (HMRC), you can get the VAT back by claiming ‘Bad Debt Relief’. This is very straightforward providing you follow the right procedures and keep accurate records. Please … Continue reading VAT ISSUE – BAD DEBTS How do you reclaim the VAT on a bad debt?