As A Registered Trader, What Can I Claim VAT Back On?
One of the biggest areas of confusion for VAT registered traders, is whether they can claim back the VAT incurred on expenses but invoiced to employees, sub-contractors or other self-employed individuals. A fundamental principle of VAT is that only the person to whom the supply was made can make a valid reclaim of the VAT … Continue reading As A Registered Trader, What Can I Claim VAT Back On?
Student loan repayments are made automatically through the tax system. The amount owed will vary based upon your overall yearly earnings and what year you decided to study. The repayment threshold for student loans taken out after 2012 will increase to £25,000 per annum in April, and will then increase annually in line with changes … Continue reading When Do I Start Paying Back My Student Loan?
Once again the tax return maelstrom has passed, and we accountants can have a breather. Therefore, I thought we would take a look at the lighter side of life. The tax office has recently published some of the “dubious” expense claims received and which were rejected. They have even made a film about them, and … Continue reading Dubious expense claims
Well, what a fortnight of contrasts. I left the UK nearly a fortnight ago to sail (well, not exactly sail but cruise on a coastal ferry) up the Norwegian coast round to the Russian border and back again. Since then we have had the American Mid-Term elections, when Trump managed to lose control of the … Continue reading Financially Yours – The Budget
Some of you out there may be a bit long in the tooth, like myself, and withdrawn their 25% tax-free lump sum from a pension scheme. If so, you should be aware of the Money Purchase Annual Allowance (“MPAA”) which was introduced in April 2017 to counter perceived tax avoidance, pension “recycling”. So, what is … Continue reading Money purchase annual allowance